Month: July 2021

Empty shop numbers rise as Covid continues to bite

Store closing

Fashion shops have been closing, including chains such as Debenhams

The number of empty shops in Britain has continued to rise as retailers struggle with the effects of the Covid pandemic, the British Retail Consortium has said.

Shopping centres have been hardest hit, with nearly one in five units empty, the industry group said.

The north east of England had the highest vacancy rate, followed by Wales and the north west.

The Covid pandemic has accelerated a shift towards online shopping.

Many shops were shuttered during lockdowns, although retail sales in June were near pre-lockdown levels, as the reopening of shops released pent-up demand.

However, fashion retailers have been hit hard by the pandemic, with the closure of well-known High Street brands such as Debenhams and Topshop contributing to vacancies.

But it is shopping centres which had the highest vacancy rate from April to June.

“It comes as no

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Shop All Day – Summer Essentials: Products that will make a splash and upgrade your summer










Shop All Day – Summer Essentials: Products that will make a splash and upgrade your summer
















Duration: 24:59

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Arvind Fashions sells ‘Unlimited’ business to V-Mart; management explains deal rationale



a store filled with lots of stuffed animals


© Provided by CNBCTV18


Arvind Fashion has announced divestment of the assets of its ‘Unlimited’ business to V-Mart Retail in an all-cash transaction for about Rs 150 crore. The company said it had decided to exit this business and will now focus on growing the high-conviction focus brands.

On this transaction, Shailesh Chaturvedi, CEO of Arvind Fashions said, “It is largely offline shop transaction where 74 of our stores of ‘Unlimited’ business have been transferred to V-Mart an all-cash deal. These are largely stores in south and west of India where V-Mart is not present currently and we realise a full book value in this transaction of close to Rs 150 crore.”

Arvind Fashions wants to revitalise its high conviction brands which include US Polo Assn, Arrow, Flying Machine, Tommy Hilfiger, Calvin Klein and Sephora, etc.

Meanwhile, Lalit Agarwal, CMD of V-Mart Retail explained the rationale of the deal from

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