With tens of thousands of jobs at stake here, I can’t understand why the Government isn’t doing everything it can to rescue these businesses and keep them afloat until we’re through the worst of the coronavirus pandemic? Especially when none of this is the fault of the workers.
“Should the Company and the Arcadia Group’s efforts to agree an emergency funding package fail and the Arcadia Group enter into administration, the Company would be interested in participating in any sale process,” Fraser Group added in a statement to investors.
In a statement to investors, the chain wrote: “JD Sports Fashion Plc, the leading retailer of sports, fashion and outdoor brands, confirms that discussions with the administrators of Debenhams regarding a potential acquisition of the UK business have now been terminated.”
Debenhams chief executive Stefaan Vansteenkiste said at the time: “In these unprecedented circumstances the appointment of the administrators will protect our business, our employees, and other important stakeholders, so that we are in a position to resume trading from our stores when Government restrictions are lifted.
Chief executive Will Kernan said: “We are now in the process of restructuring our retail teams by simplifying our store management structures. With a heavy heart, I can confirm that these changes will potentially impact up to 350 store management and senior sales roles.”
The struggling company is planning on cutting 2,500 jobs as the department store chain battles to survive on the UK high street, and today it emerged they are drawing up contingency plans in the event of liquidation.
Nearly 9,300 of its workforce are currently furloughed due to the coronavirus crisis. Mr Grabiner said it tried to “ride out the pandemic and come out fighting on the other side”.
True, our acquaintances on SM can be our greatest source of new ideas and information, Gladwell says. The Internet is terrific at diffusion of innovation, interdisciplinary collaboration, matching up buyers/sellers, managing the dating world. But weak ties seldom lead to brick-and-mortar activism. They bring only social acknowledgement and praise. The instruments of social media are […]