By Planet Retail2013-04-25T07:00:00+01:00
Discounter Sok has reached an agreement to buy all of Spanish retailer Dia’s business in Turkey for TRY320m (£116.1m).
The transaction is subject to the approval of Turkish antitrust authorities.
Next has withdrawn from the bidding process to acquire Arcadia’s Topshop brand, despite previously being pinned as the frontrunner to snap up the fashion retailer.
Fashion giant Next has emerged as the leader in the race to salvage Topshop from the administration of the Arcadia brands.
Marks Spencer has completed its deal to acquire the brand and stock from Jaeger, resulting in the fashion retailer axing its roles and shutting down its store estate.
With both Tesco and Superdry pulling out of international ventures on the same day, Retail Week asks whether UK retail is scaling back its global ambitions.
The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.
The coronavirus outbreak has sparked fears and headlines worldwide since emerging in the Chinese city of Wuhan at the start of the year.
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