The fashion group has served notice on its landlords that it will leave stores where the leases have rolling breaks or are due to expire. But the retail group had been hit by financial troubles before the Covid-19 crisis. Its high street brands reported pre-tax losses of £505.1m for the year to September 2018, according to accounts published on Companies House. Under the rescue deal, the group’s US operations went into administration and an additional 25 Evans and Miss Selfridge stores were closed. Meanwhile, the struggling fashion chains Oasis and Warehouse collapsed into administration, putting 2,300 jobs at risk.

Source: The Guardian April 18, 2020 12:11 UTC