Mothercare is to close another raft of stores, meaning 60 of its outlets will be shut by June next year, putting 900 jobs at risk.
Poundworld was denied a £4.1 million lifeline before it went into administration after it was unable to secure a cut in business rates, it has emerged.
Poundworld has axed around 100 jobs from its head office as administrators struggle to find a buyer for the business.
Poundworld has become the latest retail casualty on the British high street as it called in administrators on Monday, putting 5,100 jobs at risk.
Poundworld is set to become the latest retail casualty on the British high street as it calls in administrators, putting 5,100 jobs at risk.
Poundworld is poised to announce its intention to appoint administrators, putting around 5,300 jobs at risk, the Press Association understands.
Mothercare has been given the green light to swing the axe on 50 underperforming stores in a move that will see 800 jobs put at risk.
Shares in Dunelm tumbled as the homewares retailer warned over profits after experiencing “challenging” trading conditions in the fourth quarter.
Retailer Shoe Zone has defied the gloom on the high street by more than trebling profits in the first half of the year.
Mark Carney has weighed into the debate on business rates, saying it has become a “real issue” for retailers across the country.
Carpetright has kick-started efforts to raise £60 million in emergency funding as the struggling retailer pushes through a painful restructuring.
Mothercare is to swing the axe on 50 underperforming stores and re-hire the chief executive it sacked just weeks ago as part of a wide-ranging shake-up.
The crisis at Mothercare has deepened after the babywear retailer said it was scrambling for cash from shareholders and outside investors, alongside a sweeping store closure programme.
Carpetright has said it will book annual losses of up to £9 million after the struggling retailer’s shareholders rubber-stamped a mass store closure programme.
Embattled retailer Carpetright has won the backing of creditors and landlords for a restructuring plan that will spark store closures and hundreds of job losses.
The fate of 300 Carpetright workers will be decided on Thursday when creditors to the stricken retailer vote on a radical store closure programme.
Electricals chain Maplin is understood to have collapsed owing creditors close to £150 million, with the lion’s share due to the retailer’s private equity owner Rutland Partners.
Embattled department store House of Fraser has appointed KPMG to advise on a restructuring plan for the business which could involve store closures and job losses.
A young flight enthusiast who saved for a year to buy a drone has been left heartbroken after a struggling shop lost his prized flying machine.