As restructuring and insolvency experts, our lawyers understand the issues and unique pressures faced by our retail clients who find themselves facing an uncertain future. At a time of increased and unpredictable change, issues can arise suddenly and can be daunting when you look at how the high street and consumer habits are changing. Adapting effectively requires an extensive investment of time and a willingness to embrace change, both of which can cause upheaval to your business and stakeholders.
Retailers can face a myriad of problems, the impact of which can cause reputational and financial harm. From contractual advice on supply chain issues through to refinancing and restructuring, we’ll work with you to focus on solutions which will have the most impact in effecting positive change.
National law firm Browne Jacobson has advised long standing retail client, Wilko on the sale and leaseback of its Nottinghamshire distribution centre in Worksop to logistics specialist DHL for £48m.
Earlier in the year a number of fashion retailers, boldly announced the introduction of a charging fee for returning any product purchased via their online store. Yet, despite this commercial, and perhaps somewhat controversial decision, at least one major fashion giant that adopted this approach has recorded ‘historic highs’ in its September profits. Browne Jacobson partner, Cat Driscoll who heads up the firm’s commercial team in Manchester and is also head of its Fashion & Beauty sector discusses whether this change has put the average consumer off and whether the days of free returns are long gone.
This article is the second in a series to help firms take a practical approach to complying with the ‘cross-cutting rules’ within the new ‘Consumer Duty’ (CD) framework. The article summarises what it seems the Financial Conduct Authority (FCA) is seeking to achieve from the applicable rules (section 2 below) and potential complications arising from legal considerations (section 3).
An engineering company in Tyne and Wear was fined £20,000 after a worker fractured his pelvis and suffered internal injuries after falling through a petrol station forecourt canopy, whilst he was replacing the guttering.
The fashion industry has a mountain to climb when it comes to sustainability. More than 8% of greenhouse gas emissions come from the apparel and footwear industries, and approaching three-fifths of all clothing ends up in incinerators or landfill within a year of being made.
No retail and logistics specialist will have been surprised by the news that ecommerce businesses, responding to high customer demand during the pandemic, have contributed to a jump in warehouse lettings, or that one of the ecommerce disrupters within the retail sector has been rapid grocery delivery services.
In a move that will be greatly welcomed by retailers, the Government announced on 23 April that it will introduce new measures to safeguard the High Street against aggressive debt recovery actions during the coronavirus pandemic.
Find out more about the confusion around the Government’s support measures for business tenants and what to do if you have a break right during lock down.
Some commentators had anticipated that persisting retail sector challenges might disrupt more than the make-up of the high street or commercial property negotiations between landlords and tenants.