Shoe Chain Aldo Collapses | UK Market Update

  • Jun 01, 2020 BST
  • Team Kalkine

The owner of Primark has ruled out a fire sale of excess stock as trading prepares to resume in the UK following the coronavirus lockdown. Associated British Foods (ABF) said it was aiming to reopen all 153 stores in England on 15 June - in line with government guidance covering operations for non-essential retailers as the COVID-19 health crisis eases.

The UK arm of Canadian footwear retailer Aldo has followed the footsteps of its North America business and filed for administration due to the impact of the Covid-19 pandemic. Professional services firm RSM has been appointed as administrators, and it has been exploring “future options” for eight Aldo stores in the UK while permanently closing the remaining five. An exact number of how many jobs will be affected is not yet clear.

HIGH street retailer Debenhams has made a number of restaurant employees redundant in Barrow. Staff working in the restaurant at the department store giant on Portland Walk were reportedly told they were losing their jobs at just a few days' notice. Employees said they will not receive redundancy pay from the company and will not have paid notice periods.

#ABF #Aldo #Debenhams #Kalkine

 


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