POUND NOTES
Nearly six in 10 (57%) households have had to make adjustments to cover the cost of essentials in the past month, according to Which?
Measures have included cutting back on essentials, borrowing from family and friends, taking out loans or credit cards, dipping into savings or overdrafts, or selling items.
About two million households have missed a housing, bill, credit card or loan payment in the past month, Which? estimated.
In response to energy cost increases, a third (32%) said they have used less hot water and one in six (16%) reported eating fewer cooked meals.
More than one in 10 (11%) said they had skipped meals because of rising food prices, 8% had prioritised meals for other family members, and 3% had used a food bank.
One person told Which?: “I can’t afford to buy food each week so I am not able to eat a proper meal each day. I can’t afford to buy oil so I go to bed when it gets cold.”
Mike Ashley’s Frasers Group, has snapped up fast fashion brand Missguided after it fell into administration last week.
Missguided called in administrators after it was issued with a winding-up petition by suppliers owed millions of pounds.
The business was founded in 2009 and grew rapidly amid rising demand for online fashion. However, the company was hit hard by surging supply costs, inflationary pressures and waning consumer confidence in the increasingly competitive market.
Frasers Group which also owns brands like Sports Direct and House of Fraser, confirmed it bought the intellectual property of the retailer and sister brand Mennace for around £20 million.