finance

UK house prices fall as Covid-19 job losses surge – business live


In the email to staff, seen by Drapers, chief executive Ian Grabiner said:

“We are continuing to live through an unprecedented global crisis and, as you know, our stores and head office temporarily closed on 20 March. Although our digital platforms provided us with some much-needed sales whilst our stores were closed, it certainly didn’t make up for the loss of sales from our stores and franchise partners.

“We and our partners are unlikely to see the same level of footfall on the high street anytime soon. We can’t ignore the impact this will have on our business and we need to adapt. We have already been reducing our store estate over the last few years but we also need to generate further cost savings across our company in order to ensure we have a solid foundation for the future. In order for us to achieve this, we need to restructure our head office to support a more focused and future proofed organisation.”

It is understood that staff will receive more information about their individual situations later today. Drapers understands that the job cuts impact various teams, including those in buying and design across Topshop, Miss Selfridge and Dorothy Perkins.



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