As expected, a poor performance from its retail operations hit the Grosvenor Group in its latest trading year as the pandemic caused the high-end property business to swing to its first loss since the financial crisis.
The financial cost of Covid could jump for many non-essential retailers, given a second High Court ruling over rent arrears. Retail group Frasers has been ordered to pay rents accrued since the start of the pandemic.
In a worrying development for retailers — but not their landlords — the UK's High Court has backed the joint venture partner of Unibail-Rodamco-Westfield against The Fragrance Shop in a dispute over unpaid rent.
Fenwick has a new non-executive chairman. Simon Calver has been appointed to help steer the family-owned UK department store chain through a series of sweeping changes, specifically its e-tail operations.