KPMG news and archive

Debenhams calls in KPMG as it explores turnaround options

Troubled department store chain Debenhams has roped in advisors from KPMG to assess various options including company voluntary arrangement (CVA) to cut costs and drive sales, reports BBC. Recently, media reports revealed that the company terminated several positions at its head-office as well as stores amid difficult trading conditions....

ManagementFeatured

KPMG fined over improper Ted Baker audit

London - The UK's Financial Reporting Council (FRC) has imposed a 3 million pounds on senior partner at KPMG over misconduct during the auditing of fashion retailer Ted Baker. The British market regulator fined accountants KPMG three million pounds and reprimanded and fined senior partner Michael Francis Barradell for misconduct related to...

Report

Mike Ashley outbid in the race for Debenhams Ireland

London - Billionaire Mike Ashley is said to have have been outbid in the race for Debenhams Ireland, as Debenhams Group is believed to be the preferred bidder to acquire its Irish business out of examinership. Ashley, who is said to have been the only other "serious contender" for the business, owns a 10.5 percent stake in the Debenhams Group....

Report

Clothing sales help boost January sales

Apparel and footwear sales helped boost UK retail sales in January as the cold snap during the first two week of the year drove consumers to the New Year sales. Overall, UK retail sales increased 2.6 percent on a like for like basis from the same period a year ago, according to the British Retail Consortium and KPMG Retail Sales Monitor. UK...

Report

Online retailer Atterley put into administration and ceases trading

Online womenswear retailer Atterley has entered administration and ceased trading after its parent company, Maison Seven, was placed into administration earlier this week. Atterley, formerly known as Atterley Road, is currently under the management of court appointed administrators from KPMG insolvency practitioners. All 17 members of staff have...

Fashion

Chinese shoppers prefer French and Italian fashion

A new report by KPMG on the Chinese luxury goods market has found that French, Italian and Hong Kong brands top the list of favourites with wealthy Chinese consumers. A long-held perception of luxury consumers in China is that they are driven by status and demonstrations of wealth. This year’s report focuses on the rise of experiential luxury...

Fashion

UK retail figures disappointing in February

The BRC-KPMG Retail Sales Monitor for February reveals that UK retail sales values were down 0.4% on a like-for-like basis from February 2010, when sales had risen 2.2%. Consumers' underlying uncertainty about jobs and incomes resurfaced, hitting clothing, footwear and homeware sales. Internet, mail-order and phone sales growth fell further in...