New mosaic stores owner Aurora; is said to be in talks with certain retail Landlords of its 900 UK store outlets about paying rent on a monthly basis at prices equivalent to 10 percent of the stores turnover.
Trading in some of their stores has definitely taken a turn for the worse as there are talks that the Hampstead branch of Karen Millen will be closing down business to the public. The recession is definitely biting! I hope there are still shops left at this rate.
Thursday, 5 March 2009
Wednesday, 4 March 2009
Rescued: Phew!
Wow! what a relief to find out Warehouse, Oasis, Coast and most of all Karen Millen have been rescued. How I dreaded the thought of finding another job in this crunched time. The former mosaic brands have now been purchased by Aurora fashions.
The news is all over the place: I read it on Drapersonline, the ITV news site and on Karen Millen's own blog.
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