Struggling high-street retailer New Look has converted £440m of debt to shares in the company in a debt-for equity swap. This is the company’s second debt restructuring since 2019. It has also taken the first step in securing lower rents by renegotiating its leases in a Company Voluntary Agreement (“CVA”).
Expanding its reach across the global marketplace, Amazon has launched an online pharmacy in Bangalore, India.
High Street retailer WH Smith is considering cutting 1,500 jobs due to low footfall suffered resulting from the coronavirus pandemic.
The asset management arm of Standard Life Aberdeen, known as Aberdeen Standard Investments, has sold its £27m shareholding in the online fashion retailer Boohoo. This follows Boohoo’s response to allegations of supply chain abuses, which the investment company deemed insufficient.