Wednesday, 7 January 2009

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Breaking news from Retail Week

Viyella collapses into administration

Iconic womenswear retailer Viyella has collapsed into administration, leaving the future of 645 staff hanging in the balance.

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More news headlines

·                            Marks & Spencer sales fall; job cuts and store closures planned

·                            Non-food prices fall by sharpest rate for 2 years in December

·                            Morrisons ploughs on with IT transformation

·                            Barclays to issue contactless debit cards

·                            Apple ups music download stakes with the removal of DRM

·                            Weak boardwear performance to hit Blacks Leisure profits

·                            Thorntons reports dip in like-for-likes

·                            Alexon profit forecasts ahead of management expectations

More news from Retail Week >>

Hard-hit M&S to close stores and cut staff

More than one million people face court over council tax
Councils filed for bankruptcy for more than 1,700 people in order to collect Council Tax arrears last year, while more than one million people were summoned to court.

M&S closes 27 stores as downturn hits sales
High Street doyenne M&S announced plans to cut 27 stores as it announced a sharp fall in like for like sales in the run up to Christmas.

Online pizza sales help Domino's shrug off downturn
Group expecting full year numbers to beat forecasts as online sales grow ever higher.

Morning Market: FTSE sliding as enthusaism wanes
Shares fall as fears return about the prospects for the UK in 2009.

London rents post record declines
Prime residential rents in central London have fallen dramatically over the past three months.

BA traffic down again but company confident of hitting estimates