The recent Company Voluntary Arrangement (CVA) of fashion chain, New Look, Carpetright apparently also looking to follow suit and House of Fraser and Mothercare reporting problems, the retail landscape is heading for further unrest. What is a CVA? How do …
Whilst there was a glimmer of hope from this morning’s retail sales figures for February 2018, overall figures are still flat – and retailers need to woo their customers. Phil Mullis, Partner and Head of Retail and Wholesale at top-20 UK accountancy firm, Wilkins Kennedy, said: “It looks as there was a little bit of romance in February’s retail sales; with a lift from January 2018, partly driven by food sales. February’s retail sales statistics were encouraging, but we can’t ignore that we’ve also seen the demise of Toys R Us as well as administration for Maplin – both large national retailers with extensive store estates. Also, if we consider a comparison of the figures from a year earlier, we are actually in the same position we were in originally in February 2017, so in fact, sales remain relatively flat.