Retail round-up on April 25, 2016: BHS's administrator reportedly receives "interest" from potential buyers and Tesco ends special Clubcard Boost scheme.
Rivals show âinterestâ in collapsed BHS
Rival retailers are believed to have shown âpotential interestâ in collapsed high street retailer BHS, according to The Times.
Administrator Duff & Phelps is understood to have already received about 30 âexpressions of interestâ from possible buyers for the department store chain that went into administration yesterday, threatening 11,000 jobs.
It is not clear if the âapproachâ is to acquire the department stores business as a going concern or to âcherry pickâ the best of its 164-store estate.
Meanwhile, Retail Acquisitions, which purchased BHS for a nominal sum of ÂŁ1 from Sir Philip Green in March last year, has been accused of extracting ÂŁ25m in cash out of the company in a single year of ownership.
Tesco scraps special âClubcard Boostâ events
Tesco has axed its special âClubcard Boostâ scheme that doubles the value of store points on certain dates.
Shoppers have been told that its next Clubcard Boost event, which runs from May 16 to June 26, will be the last.
The move comes as the grocer seeks to offer its customers a chance to âget more valueâ from their Clubcards all-year round and not just during these set events.
Forever 21âs Irish losses leap despite jump in full-year revenues
Forever 21 Fashion Ireland recorded almost fivefold surge in its annual pre-tax losses to âŹ8.39m, compared with âŹ1.73m in 2014.
The major chunk of the losses were related to a foreign exchange loss of âŹ5.45m.
Turnover at the Irish unit of the US clothing retailer that has just a single store in the country climbed 23% to âŹ10.39m in the 12 months to the end of February last from âŹ8.46m a year earlier, according to the newly-filed accounts.
A directors' report revealed that "the company has maintained tight controls over costs while continuing its investment to establish brand awareness through marketing activities".
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