Giant fashion group Arcadia is believed to be on the verge of the worst UK corporate collapse of the Covid crisis, with the firm expected to go into administration as early as Monday. This would put 13,000 jobs at risk.
Topshop owner Arcadia is reportedly in urgent talks to secure fresh funding in order to stay afloat. That's according to a weekend report that said the group has approached lenders about borrowing roughly £30m".
Frasers’ execs may have been talking about potential store closures in recent periods, but the firm is also planning openings and has announced its first regional store since the pandemic began at Leicester's Fosse Park.
HanesBrands, a US-based global marketer of branded everyday basic apparel, reported only a 1.3% decline in its net sales to $1.73bn during Q2, and net income for the quarter rose to $161.8m from $149.5m.