A Black Friday for Arcadia as it edges towards collapse

November 27, 2020

@peter_IFAMAG reads Twitter so you don’t have to.

Arcadia is on the brink of collapse and may go into administration by early next week. Meanwhile, e-commerce celebrates black Friday.

LGIM share tweet highlighting that E-Commerce represents 15% of global retail sales.

https://twitter.com/CNBCJulianna/status/1332289284435566592

BooHoo, the online retailer under inquiry for worker exploitation, celebrate up to 99% off all stock.

Dreaded Black Friday again which is an online only event this year in England. And Boohoo’s PrettyLittleThing is doing an “up to 99% off” promo – reducing a pair of trousers to just 15 pence.
Which just feels so very wrong on many levels – cheap labour, disposable fashion etc pic.twitter.com/AoowGEseUL

— Ashley Armstrong (@AArmstrong_says) November 27, 2020

Meanwhile, reports say Arcadia is on the brink of collapse.

https://twitter.com/telebusiness/status/1332283657759973376

Josephine Cumbo tweets a statement on the matter by the Pensions Regulator.

The Pension Regulator says it is working with Arcadia's directors, the scheme's trustees and their respective advisers, as well as the PPF, "to protect the position of the Arcadia pension schemes’ members to the fullest extent possible." https://t.co/aLvU7IxzAs

— Josephine Cumbo (@JosephineCumbo) November 27, 2020

Shore Capital on Greggs.

Shore Capital on Greggs:

Biz structurally hammered by Covid & not just a 2020 issue

FY2021 will be notably impeded from a financial perspective & it may be FY2023 or even FY2024 before it returns to FY2019 financial performance levels, if at all

— Dan Coatsworth (@Dan_Coatsworth) November 27, 2020

Ashley Armstrong laments the state of UK retail in this tweet.

The state of retail:
Arcadia's Sir Philip "effin" Green faces administration.
Boohoo's Pretty Little Thing Umar Kamani delivering a rallying cry to smartphone shoppers to buy 15p trousers. https://t.co/rEXhQsyR2I

— Ashley Armstrong (@AArmstrong_says) November 27, 2020

What are your thoughts on these tweets?

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