UK: Sherwood Police Probe Continues
Lace, lingerie and swimwear producer Sherwood Group on Wednesday said it was "business as usual" despite the sacking of CEO Mike Basford and a police investigation.
Sherwood, which supplies high street firms including Asda, Debenhams and Bhs, has handed non-executive chairman Noel Jervis control of its executive responsibilities until a new chief executive is appointed.
Mr Jervis told the Daily Telegraph that Mr Basford has been "summarily dismissed without compensation for breach of his employment contract."
"There has been a corporate misdemeanour but corporate governance got on top of this very quickly," he said. "The business is not impaired, there is no black hole. We have been reassuring our employees and customers that it's business as usual."
The company is due to reveal its interim results tomorrow.
Help test our new apparel sourcing tool.
Speakers at this year's ASBCI conference defined the changing landscape of global sourcing and spelt out sourcing options in new world of open trading. They agreed that branding, product differentiati...
Thai Garment Export Co Ltd is Thailand's largest clothing producer. It turns over an FOB value of US$170 million a year and employs 9,500 people. It is a wholly-owned subsidiary of the Hong Kong based...
The UK middle market in clothing could soon cease to exist according to new research. The traditional mass market is being squeezed by value-led retailers on the one hand and smaller fashion multiples...
Retail mogul Philip Green is reportedly in talks over a possible sale of the Bhs clothing chain, but is remaining silent on the issue....
Retail tycoon Philip Green has criticised the stock of his store chain BHS as being 'poor', and 'off the boil' in comments reported yesterday....
Department store chain Debenhams has reported a 123 per cent hike in annual profit and said it is optimistic on future growth....
High-street mogul Philip Green's Bhs chain has admitted a slip in annual sales and profits a day after ex-bid target Marks & Spencer said it was finally on track with recovering its sales....
Lingerie maker Sherwood Group Plc is to exit its unprofitable private label business, which contributed to a large fall in first half sales, and instead focus on growing its branded operations....
- Trump and the apparel industry – Infographic
- $1.7bn package to boost Pakistan clothing exports
- Mexico riots hit apparel retailers and shipments
- Outlook 2017 – What next for apparel sourcing?
- Is China about to burst its apparel trade bubble?
- Cambodia clothing exports at risk from Brexit
- MAS Holdings planning second industrial park
- Apparel brands urge Bangladesh PM to address wages
- American Apparel to shutter all stores?
- JC Penney latest retailer to shutter stores?
- Global apparel markets: product developments and innovations, October 2016
- Anti-odour clothing: fresh fashion for an active lifestyle
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022