Embattled retail giant Steinhoff has appointed Richard Heis as chief restructuring officer in efforts to return stability.
The Advertising Standards Authority (ASA) has voted to ban Poundland’s controversial “Elf Behaving Badly” campaign.
Steinhoff has given its creditors some hope after securing enough money to keep the businesses running in the immediate term.
Poundland has attracted a raft of potential buyers who are keeping a close eye on the discount retailer.
Steinhoff has begun talks with lenders seeking to acquire €200 million in “interim liquidity support”.
Budget fashion retailer Primark has celebrated record Christmas sales thanks to over 300,000sq ft of added retail space.
Budget retailer The Works has revealed record-breaking Christmas sales for the seventh consecutive year.
Poundland has revealed plans to roll out over more 150 store-in-stores with budget fashion chain and Steinhoff stablemate Pep&Co.
Matalan has enjoyed growth in both operating profit and full-price sales during its third quarter and Christmas trading period.
Discount retailer B&M has revealed a sharp rise in third quarter sales, boosted by record Christmas trading.