Office news and archive

Resilient footwear sales power Truworths UK's growth

Truworths UK, which operates footwear retail subsidiaries through its 'Office' and 'Offspring' stores, reported sales of 294.3 million pounds (380 million dollars) for the year ending June 30, 2024. This represents an increase from the previous year, with EBITDA also rising significantly to 117.5 million pounds. In its filing with Companies...

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Hybrid working model introduced for Primark office employees

Multi-chain retailer Primark has revealed its new hybrid working model as its office-based employees begin to return to in-person work. From September, its global headquarters in Dublin, Primark House in Reading and its Central Supply Chain office in Islip will all welcome back employees into the physical workspace. The plan will be implemented...

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Truworths negotiating fresh funding for Office

Truworths, the South African owner of Office, has said it is in the process of negotiating further funding for the British footwear retailer. It is also looking into different restructuring initiatives, including a staff redundancy process and store lease negotiations, in a bid to “secure the long-term viability” of the struggling retailer....

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Owner of Office puts footwear retailer up for sale

Truworths, the South African owner of Office, has reportedly put the British footwear retailer up for sale. The company has hired professional services firm Alvarez & Marsal to run an accelerated sale process for Office, Sky News reports. According to the news publication, a sale could be completed “within a short time-frame”. Office currently...

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Truworths eyes closure of up to 15 UK Office stores

South Africa's Truworths International Ltd is planning to close up to 15 loss-making Office stores in the UK as part of its turnaround strategy. The day after the company released its full-year results, CEO Michael Mark told analysts plans to close up to 15 of its roughly 139 stores over the next two years, as well as three “problematic”...

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Footwear retailer Office could be nearing CVA

Footwear retailer Office is reportedly mulling a company voluntary arrangement (CVA). The company has appointed advisory firm Alvarez & Marsal (A&M) to draw up a CVA plan which could see the closure of some of its roughly 100 UK stores, Sky News reports. It is unclear whether any of the retailer’s overseas stores in Germany and Ireland would...