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Britain's Toniest Shopping Malls Left Reeling by Covid Slump


Britain’s Toniest Shopping Malls Left Reeling by Covid Slump
Bloomberg
3/12/2021
Jack Sidders
(Bloomberg) The scale of devastation wrought by the pandemic on Europe’s stores and malls is becoming painfully clearer.
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Hammerson Plc, which owns once-prized shopping centers across the U.K., France and Ireland, slashed the value of its properties by almost 2 billion pounds ($2.8 billion) last year, according to a statement Friday. The company, once a pillar of the U.K.’s real estate sector, said the plunge was triggered by the greatest fall in rental income it’s ever seen.
The landlord’s 41% collapse in rent shaved nearly a quarter off its portfolio’s value, with the company’s biggest U.K. malls including the Bullring in Birmingham and Brent Cross in London falling more than twice as much as its French and Irish properties. The plunge in values forced Hammerson to a 1.7 billion-pound loss, its worst in histo ....

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Debenhams Plc apparel and textile business news, company profile, analysis, comment and interviews


UK online fast fashion retailer Boohoo Group has inked a deal to buy the Debenhams brand for GBP55m (US$75.2m) in a move aimed at furthering its ambition to create the UK s largest marketplace and grow into new categories including beauty, sport, and homeware.>
UK online fast fashion retailer Boohoo Group is set to acquire the global rights to the Debenhams brands and its websites in a GBP55m (US$75.2m) deal as it steps closer to achieving its goal of creating the UK s largest marketplace. The move will help it grow into new categories including beauty, sport, and homeware and raises the question of the relevance of traditional department stores in a post-pandemic environment. > ....

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Darning a tattered garment sector – Kingdom sees hope in Covid-19 vaccine


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After a day’s work . . . Garment workers in Kandal province travel home in cramped transport vehicles, risking safety on a daily basis. Hong Menea
Darning a tattered garment sector – Kingdom sees hope in Covid-19 vaccine
Thu, 10 December 2020
No doubt the vaccine’s arrival will indirectly restore manufacturing activity but industry players must make changes to adapt to a new normal in the global clothing market
Even as Cambodia’s garment customers – giant clothing chains and departmental stores in the West roil in financial doldrums, the nearly $10 billion export value sector is beginning to stitch itself together on hopes of the Covid-19 vaccine. ....

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