27
Вакансии
L'OREAL GROUP
Sales Executive (m/f)
Permanent · SOFIA
ESTÉE LAUDER COMPANIES
Key Account Manager
Permanent · SOFIA
SALOMON
Vie -Industrial Quality Engineer Bulgaria M/W - Salomon Wintersports Equipment
Permanent · CHEPELARE
BEIERSDORF
Junior Key Account Manager
Permanent · SOFIA
BEIERSDORF
Brand Manager
Permanent · SOFIA
ESTÉE LAUDER COMPANIES
Multi-Brand Beauty Advisor, Sofia
Permanent · SOFIA
H&M
Sales Advisor (Bulgaria Mall)
Permanent · SOFIA
H&M
Sales Advisor
Permanent · SOFIA
H&M
Hiring Day Мол Парадайс, София, – Продавач – Консултант на Пълен Или Непълен Работен Ден
Permanent · SOFIA
H&M
Sales Advisor (The Mall)
Permanent · SOFIA
H&M
Sales Advisor (Mall Plovdiv)
Permanent · PLOVDIV
H&M
Sales Advisor (Mall Rousse)
Permanent · RUSE
H&M
Sales Advisor (Paradise Center)
Permanent · SOFIA
SALOMON
Vie - Ingénieur.e Qualité Industrielle H/F Site Bulgarie - Salomon Wintersports Equipment
Permanent · CHEPELARE
BEIERSDORF
Marketing & Shopper Intern
Internship · SOFIA
H&M
Hiring Day Бургас – Продавач – Консултант на Пълен Или Непълен Работен Ден
Permanent · BURGAS
H&M
Sales Advisor
Permanent · STARA ZAGORA
MASSIMO DUTTI
Visual Merchandiser
Permanent · SOFIA
OYSHO
Продавач-Консултант
Permanent · SOFIA
BERSHKA
Продавач-Консултант
Permanent · BURGAS
ZARA
Продавач-Консултант
Permanent · SOFIA
STRADIVARIUS
Продавач-Консултант
Permanent · SOFIA
Опубликовано
12 июн. 2019 г.
Время чтения
3 минут(-а,-ы)
Скачать
Загрузить статью
Печать
Размер текста

Smiles at Arcadia as CVA is approved, hard work starts here say analysts

Опубликовано
12 июн. 2019 г.

So Arcadia’s CVA proposals have been approved and the fashion retail giant has averted the imminent threat of an administration filing and a possible break-up of the group.


Topshop



All seven CVAs on the table were approved and it means the group’s majority shareholder, Sir Philip Green’s wife Tina, will invest a further £50 million of equity into Arcadia, following £50 million provided a couple of months ago.

The company will also be cutting its annual pension fund payments in half (to £25 million) in a deal agree with The Pensions Regulator.

But the difficult works starts now for Green and the Arcadia team, especially for CEO Ian Grabiner with UK retail facing unprecedented problems as online sales, Brexit, sustainability issues, high rents, and cautious consumers mean the existing fashion retail rule book is being torn up.

Grabiner said after the creditors meeting on Wednesday: “After many months of engaging with all our key stakeholders, taking on board their feedback, and sharing our turnaround plans, the future of Arcadia, our thousands of colleagues, and our extensive supplier base is now on a much firmer footing.

“From today, with the right structure in place to reduce our cost base and create a stable financial platform for the group, we can execute our business turnaround plan to drive growth through our digital and wholesale channels, while ensuring our store portfolio remains at the heart of our customer offer.

“I am confident about the future of Arcadia and our ability to provide our customers with the very best multi-channel experience, deliver the fashion trends that they demand, and ultimately inspire a renewed loyalty to our brands that will support the long-term growth of our business.”

The CVA approvals mean rents will be slashed and around 50 more stores will be shut on top of those that the company has already been closing in recent years. 

Staff will be relieved that thousands of jobs at Topshop/Topman, Miss Selfridge, Burton, Dorothy Perkins and Wallis have been saved, although the axe will fall more heavily on some chains than on others.

Analysts acknowledged the difficult task ahead with GlobalData’s Chloe Collins saying: “Although Arcadia’s CVA has been approved, it is unsurprising that it faced a backlash from some landlords who have doubts about the retailer’s future. Its leading brands – Topshop and Topman – still have a strong following among millennials, however many of the others, such as Miss Selfridge and Dorothy Perkins, are now irrelevant in a highly saturated market and chances of revival are slim, leading landlords to question whether other retailers could offer their spaces more longevity.”

Arcadia is likely to focus much more heavily on digital sales and Collins said that the decision to add Topshop and Topman to the Asos branded offer as part of the turnaround plan “is wise to increase the brand’s reach, especially internationally. However it is crucial that the £60m invested into advancing Arcadia’s digital platforms includes competitive and convenient delivery methods to rival Asos and maintain traction on the brand’s individual sites.”

She also thinks the £75m being invested by Green into Aracdia’s physical stores as part of the deal “is going to be too thinly spread as the agreed closures still leave Arcadia with an estate of around 500 stores which have been neglected for far too long and are now unable to match competition which moves in favour of experience-led shopping.”

Copyright © 2024 FashionNetwork.com All rights reserved.