Retail news round-up: A consortium of retailers to rescue Style Group Brands; Tesco chief executive called in as prosecution witness; and Sweaty Betty launches new clothing range.
Retail investors to rescue Style Group Brands
A group of retail investors including Sandeep Vyas and Haseeb Aziz is in talks to reach an agreement to buy Style Group Brands through a pre-pack administration, Sky News reported.
The rescue of the womenswear brands, including Jacques Vert and Windsmoor, would save about 1,900 jobs.
The group of retail investors is led by Harold Tillman, former Jaeger owner.
The rescue deal is expected to be concluded by the end of this week.
Tesco chief executive called in as prosecution witness
Tesco chief executive Dave Lewis has been called as a prosecution witness in the trial of three former executives allegedly involved in false accounting, The Telegraph reported.
The trial is set to start from September.
Lawyers for former bosses Carl Rogberg, John Scouler and Christopher Bush have said that the three would plead not guilty.
Mr Lewis is among ten witnesses called by the prosecution.
Other witnesses called include Tesco’s group general counsel Adrian Morris and the head of its internal audit, who was not named.
Tesco declined to comment.
Sweaty Betty launches tennis-inspired womenswear
Sweaty Betty has launched a new collection of tennis-inspired womenswear to cash in on the upcoming Wimbledon tournament, This Is Money reported.
The cost of the clothing ranges from £55 for a tennis skirt to £125 for a championship dress.