The owners of fashion businesses like River Island, The Edinburgh Woollen Mill Group, Arcadia, Charles Tyrwhitt, New Look and Monsoon Accessorize have all seen their estimated personal wealth fall over the past year.
There's speculation that a successful sale of Newcastle United football club for £300 million could release cash for Frasers Group boss Mike Ashley to invest into the retail business and to buy more distressed brands.
The very public apology made by Frasers CEO Mike Ashley on Friday underlines the importance of good PR during the coronavirus crisis and an analyst has said that "exemplary ethics will pay off" once the outbreak is over.
Mike Ashley issued a rare apology for his actions in recent days on Friday and said Frasers Group has offered its support to the NHS and is "poised and ready, with our entire fleet of lorries at their disposal".
Johnny Coca has left his position as creative director of Mulberry, the British fashion and accessories house, as announced on Tuesday, bringing down the curtains on a five-year stint at the famed UK marque.
When retail mogul Mike Ashley added House of Fraser to his portfolio in 2018, he spoke about converting the chain into the “Harrods of the high street”. And two years later, his vision is starting to take shape.
Sports Direct had mixed news on Monday with acquisitions boosting sales but plenty of negative numbers when bought-in business are factored out. But HoF is showing 'green shoots' and Flannels is improving.