Hundreds of jobs at risk at retail group
Retail group N Brown is considering closing its physical stores and moving entirely online.
The parent company of retail brands Jacamo, JD Williams, Simply Be and High & Mighty said it is entering a consultation owing to “continued weak high street footfall”.
Such a move would potentially put 240 jobs at risk across its 20 stores.
The firm made the announcement in a statement to the stock exchange which included opening quarter results for 2018. Group revenue grew 0.4 per cent, with 75 per cent of it now generated online – a figure which rises to 84 per cent for new customers.
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CEO Angela Spindler said: “This was a challenging period for fashion retail… I am satisfied with our Q1 performance.
“In line with our online strategy, and given continued weak high street footfall, we have today commenced a consultation process with colleagues over the future of our small store estate.
“This action has not been taken lightly and we will do all we can to support the colleagues affected during this process.
“We continue at pace our journey to become a global online retailer, uniquely delivering fashion that fits. This will underpin our future growth, both in the UK and internationally.”