The Courier & Advertiser (Fife Edition)
Blow to High Street as closure of Tayside and Fife shops confirmed
The closure of more shops in Tayside and Fife has been confirmed.
In the latest blow to the High Street, Dorothy Perkins, Wallis and Burton shops will stay closed after lockdown restrictions lift.
It comes as internet retailer Boohoo acquired the Arcadia brands for £25.2 million. The deal is for the inventory, e-commerce and digital assets of the businesses.
The move affects Dorothy Perkins shops in Arbroath, Kirkcaldy and Dunfermline. The Fife shops share space with Burtons.
Nationally, in the region of 2,500 jobs will be lost. About 260 jobs, mainly head office roles, will be saved as they move with the brands to Boohoo. These include jobs in design, buying and merchandising, and the businesses’ digital wings.
Some other staff will be kept on during a monthslong transition period, Deloitte said.
The deal will see the brands transfer over to online fashion giant Boohoo, whose fortunes have increased as those of its high street predecessors waned.
Last month Boohoo said it had bought the brand and website of department store chain Debenhams for £55m, but it did not take on the company’s 118 stores, meaning 12,000 jobs were likely to be lost.
Boohoo chief executive John Lyttle said: “We are delighted to announce the acquisition of assets associated with the online businesses of established brands Burton, Dorothy Perkins and Wallis. Acquiring these well-known brands in British fashion out of administration ensures their heritage is sustained, while our investment aims to transform them into brands fit for the current market environment.
“We have a successful track record of integrating British heritage fashion brands on to our proven multi-brand platform, and we are looking forward to bringing these brands on board.”
Boohoo chairman Mahmud Kamani added: “This is a great acquisition as we extend our market share across a broader demographic, capitalising on growth opportunities as more and more customers shop online.
“We continue to grow our portfolio of brands and customer base, strengthening our position in global fashion e-commerce.”
Arcadia was long one of the biggest players on the UK high street, but the pandemic dealt a final blow to the business, which had struggled with a shift in shopping behaviour in recent years.
In December it entered administration, putting thousands of jobs on the line. While the business’s demise has been partly brought about by a shift to online retail, its brands will now continue to live online, after several deals.
Last week Boohoo rival Asos, also an online player, signed a £330m deal to buy Topshop, Topman, Miss Selfridge and HIIT from Arcadia.
Administrators have now sold all of Arcadia’s brands, raising around £500m to pay off creditors.
Arenowned Perth dental practice has secured its long-term future after being taken over by a Glasgow-based group.
Dental Care Perth – based in the city centre – has been taken over by Clyde Munro Dental Group, the largest organisation of its kind in Scotland.
The practice’s principal dentist Dr Constantinos (Dino) Loizides will continue on at Dental Care Perth, alongside four other associates and a full team of hygienists, nurses and receptionists.
Bosses say this is to ensure continuity for existing patients.
The practice provides a range of dental and facial services including complex dental implants and cosmetic procedures.
In 2017, it moved into its custom-built premises in the refurbished former Clydesdale Bank on South Methven Street.
The practice had previously been based in the Fair City’s Princes Street.
Dr Loizides, who lives in Dunfermline, once came close to selling the practice but decided against the move due to concerns about the partnership.
He said he was optimistic about the new partnership with Clyde Munro, an organisation he said shares some of his own core values.
He said: “I’d come close to selling once before, however the partnership just didn’t feel right.
“Having met the Clyde Munro team, I know that they share the same values and culture that we do.
“I started at the practice in 1999 as an associate and have seen it evolve over the years, with the move into a plush and dedicated new premises in 2017 being a big moment for us.
“This is the next clear chapter in our story.
Partnering with Clyde Munro will free me up to focus almost entirely on my clinical work again.
“I’m also deeply passionate about the digital revolution that dentistry is currently going through.
“I want to make sure the practice is at the forefront of this and we can ensure patients benefit from the scanners and ultra-precise 3D printing developments.
“Reassuringly, this is a passion shared by the Clyde Munro team.”
Dental Care Perth – which has around 6,000 private and NHS patients – is one of four practices acquired by Clyde Munro so far this year.
Clyde Munro supports 46 dental practices across Scotland, reaching more than 400,000 patients across the country.
Chief development officer with Clyde Munro Kirsty Dace believes the takeover will allow Dental
Care Perth to continue thriving in the community.
She said: “Dino is renowned throughout the profession as a hugely talented dentist and as an entrepreneur that has created a fantastic practice.
“We’re thrilled to have reached this deal, ensuring that we can support Dino and his team to continue to advance treatments to the local community, while investing in the practice and in the latest technology.”
Founded by Jim Hall in 2015, Clyde Munro aims to expand its network of family dentists across Scotland, each devoted to providing the best care.
Having acquired seven practices on opening, the business has now expanded and has premises in all of Scotland’s cities, as well as throughout rural areas such as Orkney, Aberdeenshire, the Highlands, and the Borders.