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Mike Ashley Frasers Group has sold its 25% stake stake in French Connection Share price soared Friday after takeover approaches from investment groups Spotlight Brands, behind fitness-focused Sweaty Betty, and Laura Ashley owners Gordon Brothers made one of the approaches Proposals come same week that Asos announced its £330m Topshop takeover Bohoo has agreed a £55million deal to buy the brand and website of Debenhams

57 of 264 stores on Oxford Street already permanently shut with annual revenue falling to below £2billion  More than 50,000 retail and hospitality jobs set to be lost when third lockdown ends, industry group claims New West End Company has warned the 'globally unique West End ecosystem is beginning to break down' It claims West End has suffered tougher financial hit from coronavirus pandemic than any other part of UK

Boohoo has bought collapsed department store group Debenhams for £55m but will shut all remaining stores  Deal confirms Debenhams brand will disappear from high street after 242 years with up to 12,000 job losses Boss Mahmud Kamani in battle with Amazon as he wants to dominate homeware and beauty as well as clothes His son and PrettyLittleThing founder, Umar Kamani, says the family used to make weekly trips to Debenhams 

Retail sales have plummeted by the largest amount since records began as the coronavirus pandemic paralysed the shopping sector. A cycle of lockdowns and harsh restrictions to stop the spread of Covid-19 have seen High Streets decimated. Today the Office for National Statistics said sales were down 1.9 per cent, the biggest slump since figures started being collated in 1996. There was a slight 0.3 per cent rise in sales during December, but this was not enough to save the year. The high street has been decimated by the strict restrictions and lockdowns this year Normally busting parts of Lond...

DSF: VAT-free shopping week announced in Dubai Web Report/Dubai Photo: VisitDubai Check out the full list of high-end brands that you can get tax-free. The Dubai Shopping Festival (DSF) has just announced a week-long scheme that will let you shop without paying the Value-Added Tax (VAT). Fashion lovers can enjoy “seven days of an additional five per cent off while shopping on their favourite big brands” with the ‘Club Apparel x 6thstreet.com DSF 24/7 VAT On Us’ promotion. One of the “retail highlights” of the 26th edition of DSF — organized by Dubai Festivals and Retail Establis...