THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Desert Island Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
TRB conference review
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Baird Group launches proposals for CVA

Baird Group, the licence holder of Ben Sherman and Suits Direct, has launched company voluntary arrangement proposals under which 18 stores will close if the plans are approved…. View Article

FASHION RETAIL NEWS UK

Baird Group launches proposals for CVA

Baird Group, the licence holder of Ben Sherman and Suits Direct, has launched company voluntary arrangement proposals under which 18 stores will close if the plans are approved.

The proposals also include the closure of one office and one warehouse and the cutting of 264 jobs across retail stores and the company’s distribution operations. Most of the affected jobs will be in concessions in Debenhams department stores.

Mark Cotter, Baird Group chief executive, said: “The extraordinary circumstances that Baird has faced as a result of the global pandemic, coupled with challenges presented to our business by the administration of Debenhams, prompted us to conduct a strategic review of options in order to safeguard the future of the business.”

After having asked KMPG to advise on options for the business, the company will follow a new three-year plan for its retail stores and wholesale operations and will also grow its online business.

Cotter added: “It is with deep regret that we will have to lose a number of our much-valued colleagues as we restructure our business. However, the board firmly believes that the CVA and the wider recovery plan will create a solid platform for a successful business for many years to come for all our employees and stakeholders.”

Subscribe For Retail News