The livelihoods of millions of Asian garment workers are in jeopardy after cancellations by top fashion brands, with unions, researchers and campaigners warning coronavirus could lead to a rollback of labour rights.
House of Fraser is to get a new owner after calling in administrators Friday. A fast deal to buy a slimmed-down version of the chain had been on the cards with news Friday that retail tycoon Mike Ashley is now in charge.
Abercrombie & Fitch and Sean “Diddy” Combs’ clothing were among companies sourcing from Bangladesh that had failed to sign a new accord for the safety of millions of factory workers as it took effect on Friday.
The bidders for Oasis, Coast and Warehouse are reported to include Philip Day, Foschini, Alteri and Truwowrths, but they are believed to have offered less than half the £100m the trio's owners had wanted.
Retail entrepreneur Philip Day has confirmed he is the mystery buyer of Jaeger. The billionaire Edinburgh Woollen Mill owner revealed the news as he opened the first of what will be a new chain of UK department stores.
The administrators of failed fashion business Jaeger delivered bad news Tuesday saying they would close 20 of its stores and cuts 253 jobs as they continue to seek a solution that can salvage parts of the business.
There is confusion surrounding Jaeger as the week starts with its owner selling the brand's debt and a pre-pack administration deal said to be imminent. That would guarantee its future but most stores could close.