38 global retailers that have shut up shop due to the pandemic – from Topshop to J Crew


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As the pandemic continues to change the landscape of many industries forever, retail continues to be one of the sectors that has been affected the most.

It was announced this week that British e-tailer Asos is in talks to buy Topshop, Topman and Miss Selfridge, and fellow UK e-fashion success story, boohoo, might be snapping up Debenhams. While the buyouts are good news for the brands, the opposite is true for employees. With Asos and boohoo's presence strictly online, the new owners will have no need for the staff nor the bricks and mortar stores.

In news that caused Asos shares to rise by 6 per cent, the company issued a statement saying: "Asos notes recent media speculation and confirms that it is in exclusive discussions with the administrators of Arcadia over the acquisition of the Topshop, Topman, Miss Selfridge and HIIT brands.

"The board believes this would represent a compelling opportunity to acquire strong brands that resonate well with its customer base. However, at this stage, there can be no certainty of a transaction and Asos will keep shareholders updated as appropriate. Any acquisition would be funded from cash reserves."

As high street fashion institutions in the UK and US either close for good or evolve into something else according to the wishes of their new owners, we take a look at some of the retail and dining brands that have shut up shop due to the effects of the pandemic.

Scroll through our gallery for 38 global brands that have been bought up, restructured or haven’t survived the shift in customer spending trends …

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Read more:

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Our legal advisor

Rasmi Ragy is a senior counsel at Charles Russell Speechlys, a law firm headquartered in London with offices in Europe, the Middle East and Hong Kong.

Experience: Prosecutor in Egypt with more than 40 years experience across the GCC.

Education: Ain Shams University, Egypt, in 1978.

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

US PGA Championship in numbers

Joost Luiten produced a memorable hole in one at the par-three fourth in the first round.

To date, the only two players to win the PGA Championship after winning the week before are Rory McIlroy (2014 WGC-Bridgestone Invitational) and Tiger Woods (2007, WGC-Bridgestone Invitational). Hideki Matsuyama or Chris Stroud could have made it three.

Number of seasons without a major for McIlroy, who finished in a tie for 22nd.

4 Louis Oosthuizen has now finished second in all four of the game's major championships.

In the fifth hole of the final round, McIlroy holed his longest putt of the week - from 16ft 8in - for birdie.

For the sixth successive year, play was disrupted by bad weather with a delay of one hour and 43 minutes on Friday.

Seven under par (64) was the best round of the week, shot by Matsuyama and Francesco Molinari on Day 2.

Number of shots taken by Jason Day on the 18th hole in round three after a risky recovery shot backfired.

Jon Rahm's age in months the last time Phil Mickelson missed the cut in the US PGA, in 1995.

10 Jimmy Walker's opening round as defending champion was a 10-over-par 81.

11 The par-four 11th coincidentally ranked as the 11th hardest hole overall with a scoring average of 4.192.

12 Paul Casey was a combined 12 under par for his first round in this year's majors.

13 The average world ranking of the last 13 PGA winners before this week was 25. Kevin Kisner began the week ranked 25th.

14 The world ranking of Justin Thomas before his victory.

15 Of the top 15 players after 54 holes, only Oosthuizen had previously won a major.

16 The par-four 16th marks the start of Quail Hollow's so-called "Green Mile" of finishing holes, some of the toughest in golf.

17 The first round scoring average of the last 17 major champions was 67.2. Kisner and Thorbjorn Olesen shot 67 on day one at Quail Hollow.

18 For the first time in 18 majors, the eventual winner was over par after round one (Thomas shot 73).

Stage 2 results

Caleb Ewan (AUS) Lotto Soudal 04:18:18

Sam Bennett (IRL) Deceuninck-QuickStep 00:00:02

Arnaud Demare (FRA) Groupama-FDJ 00:00:04

4 Diego Ulissi (ITA) UAE Team Emirates

5 Rick Zabel (GER) Israel Start-Up Nation

General Classification

Caleb Ewan (AUS) Lotto Soudal 07:47:19

2 Sam Bennett (IRL) Deceuninck-QuickStep 00:00:12

3 Arnaud Demare (FRA) Groupama-FDJ 00:00:16

4 Nikolai Cherkasov (RUS) Gazprom-Rusvelo 00:00:17

5 Alexey Lutsensko (KAZ) Astana Pro Team 00:00:19

While you're here
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ENGLAND%20SQUAD
%3Cp%3E%3Cstrong%3EGoalkeepers%3C%2Fstrong%3E%20Pickford%20(Everton)%2C%20Pope%20(Newcastle)%2C%20Ramsdale%20(Arsenal)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDefenders%3C%2Fstrong%3E%20Chilwell%20(Chelsea)%2C%20Dier%20(Tottenham)%2C%20Guehi%20(Crystal%20Palace)%2C%20James%20(Chelsea)%2C%20Maguire%20(Man%20United)%2C%20Shaw%20(Man%20United)%2C%20Stones%20(Man%20City)%2C%20Trippier%20(Newcastle)%2C%20Walker%20(Man%20City)%3Cbr%3E%3Cbr%3E%3Cstrong%3EMidfielders%20%3C%2Fstrong%3EBellingham%20(Dortmund)%2C%20Gallagher%20(Chelsea)%2C%20Henderson%20(Liverpool)%2C%20Maddison%20(Leicester)%2C%20Mount%20(Chelsea)%2C%20Phillips%20(Man%20City)%2C%20Declan%20Rice%20(West%20Ham)%3Cbr%3E%3Cbr%3E%3Cstrong%3EForwards%20%3C%2Fstrong%3EFoden%20(Man%20City)%2C%20Grealish%20(Man%20City)%2C%20Kane%20(Tottenham)%2C%20Rashford%20(Man%20United)%2C%20Saka%20(Arsenal)%2C%20Toney%20(Brentford)%3C%2Fp%3E%0A
The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)

Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

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The specs

Engine: 2.0-litre 4-cylinder turbo hybrid

Transmission: eight-speed automatic

Power: 390bhp

Torque: 400Nm

Price: Dh340,000 ($92,579

Asian Cup 2019

Quarter-final

UAE v Australia, Friday, 8pm, Hazza bin Zayed Stadium, Al Ain

Results

Final: Iran beat Spain 6-3.

Play-off 3rd: UAE beat Russia 2-1 (in extra time).

Play-off 5th: Japan beat Egypt 7-2.

Play-off 7th: Italy beat Mexico 3-2.

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

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White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour