French supermarket chain Casinoand cosmetics group L’Orealare launching new beauty stores in Paris this weekend, the latest effort by brick and mortar retailers to retain customers in the face of online competition.
As House of Fraser prepares for one of the most important days in its 170-year history (with its creditors voting on its CVA Friday) the company has released a broad outline of its new product and trade strategy.
Debenhams said this week that it could dispose of certain assets as it seeks to conserve cash and focus more intensely on fixing its core UK business, with analysts saying profitable Magasin du Nord could be sold.
House of Fraser's lenders have thrown it a lifeline with a conditional financing deal that is dependent on its CVA being voted through and on the £70 million cash injection from its future majority owner C.Banner.
Debenhams is going nowhere fast at the moment as tough trading conditions mean its recovery plan isn't delivering the results it wants, except on digital. The answer? A focus on cost cuts and carrying on with that plan.
A new deal between Harvey Nichols and tech firm Hero sees the luxury retailer offering a physical stores experience to online shoppers, and in its test phase its has driven conversion rates much, much higher.
The shock of the planned House of Fraser closures has been followed up by intense speculation with analysts debating the chances of the firm’s CVA being approved by its creditors, as well as HoF’s long-term prospects.