Accounts for parent group show Irish department stores made a loss from mid-August 2022 under new owners
Expandsold them in August 2022 for £4 billion .show that Brown Thomas Arnotts made a loss of £11.4 million on revenue of £153.7 million between mid-August 2022 and January 28th, 2023. A pretax loss of £124 million was recorded for the entire Cambridge group.
According to the accounts, Brown Thomas Arnotts had total assets of £566.5 million versus liabilities of £138.4 million. It’s capital expenditure for the period was £9.4 million. A note to the financial statements reveals that a reorganisation of head office functions is under way at Selfridges in the UK, with the outcome to be known this month. A redundancy programme in the Netherlands is in its “very early stages”. There is no mention of a similar programme at the Irish business.
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