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April has been quite quiet in terms of administrations, with only one reported that was expected. After filing its notice of intention to appoint administrators last month, Lucas Johnson was appointed to Textiles Direct after turnover declined by 20% over the past 12 months. Five stores were closed immediately, but the rest of the business continues to trade while a buyer is sought. Several expressions of interest have been received. The online business continues to trade as a separate entity and is unaffected by the administration.
One of the biggest stories in April was Hilco completing its acquisition of HMV from administrators Deloitte, saving 141 stores from closure. However, just days after HMV was rescued Hilco announced more job losses and threatened further store closures if rental reductions can’t be agreed with landlords.
Struggling up-for-sale Scottish footwear chain DE Shoes has sold five of its 31 stores to Begg Shoes and Bags, with a decision on the future of the rest of the company expected before the end of the month.
WHSmith announced it had acquired the Past Times brand from administrators Duff & Phelps, with plans to use it in a similar way to the Gadgetshop brand it acquired in 2010.
LA retailer BCBG Max Azria and sister brand Herve Leger have announced plans to open shops and concessions throughout London over the next two years, and will also look to open some designer outlet stores.
Swarovski announced strategic plans for its new Cadenza concept in the UK, which offers pieces from designers including Valentino, Roberto Cavalli and Versace, with the opening of four London stores by the end of 2013. A site in Westfield Stratford City has been secured.
Starbucks has become the UK’s first major operator to sign itself up to the concept of suspended coffees, with other coffee chains welcoming the idea.
M&S opened its very first standalone café concept at its Paddington, London, headquarters for both its staff and the public.
A total of 13 shopping centres worth £1.3bn were sold in the first quarter of 2013, representing a 169% increase on the same period in 2012, according to Knight Frank’s latest UK Shopping Centre Investment report. 11 shopping centres worth over £500m are currently being marketed, with another seven currently under offer, representing over £2.3bn.
Research from Santander has shown that some 72% of UK shoppers now regularly buy clothing and accessories from supermarkets, with 16% using supermarkets as a one-stop shop for all food and non-food items. This supports research from Kantar Worldpanel which shows that spending on branded young fashion fell by 5.1% in the under-25s category in the 24 weeks to February 13, as buying habits shift towards cheaper own-label alternatives. Menswear saw the largest decline of 11%, while womenswear fell by 2%.
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