British arts-and-crafts retailer under spotlight amid restructuring and safety recalls
Associated British Foods has reported a forthcoming update on fourth-quarter trading, with Primark leading sales amid a volatile retail climate. Analysts expect a potential late-summer boost from price reductions on hundreds of clothing items, while ABF prepares to spin Primark off as a standalone FTSE 100 entity by 2027. The update also flags pressure from higher gas costs and a weaker sugar division.
The High Court has sanctioned TG Jones’s restructuring plan, enabling a turnaround after insolvency fears. The plan includes extra funding from Modella Capital, rent reductions for landlords, and store closures. The chain, formerly WH Smith, now operates around 450 stores with thousands of staff. The judge stressed the plan is complex but necessary to preserve the core store estate.
Harvey Nichols has been put up for sale and is undergoing a turnaround led by Frasers Group. The six-storefront estate, including Edinburgh’s flagship, will continue operating while a broader restructuring is pursued, with potential integration of Flannels and the wider Frasers luxury ecosystem.