Up-to-date coverage of the latest events in UK retail.
12:20pm Mike Ashley to meet with Select Committee on 3 December
Mike Ashley will meet with the Housing, Communities and Local Government Committee between 3.45pm to 4.45pm on December 3.
Ashley will meet with MPs as part of their inquiry into high streets and town centres in 2030.
7:10am Jack Wills wins cash injection
Fashion retailer Jack Wills has received a £10m cash injection from an Italian investor after suffering in harsh trading conditions.
An Italian family office which is an investor in Jack Wills’ majority shareholder, BlueGem, agreed to provide the money in the form of debt instrument, Sky News reported.
BlueGem has also put in a similar sum alongside the new investor, whose identity is not known.
7:07am Concern over shares due to former Asos director
Shareholder advisor Glass Lewis has advised investors to vote against the fashion etailer’s pay report because of concern about shares being given to its former finance boss Helen Ashton.
She is in line to receive 13,000 shares next year, even though she has left the business to join Debenhams, The Times reported.
Asos said that Ashton was entitled to the shares, worth about £650,000 at present, under a long-term bonus scheme. Asos will hold its AGM later this week.
7.00am Monsoon suppliers’ credit insurance cut
Suppliers to Monsoon Accessorize have had their credit insurance reduced, the Sunday Times reported.
Credit insurer Euler Hermes has cut cover by up to half, following losses at the fashion business.
