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Riva del Garda, Italy
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New York, U.S.
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Pentland Brands, a division of privately-owned family business Pentland Group, has warned of 350 job cuts as part of a strategic review.
Reportedly, at least 350 redundancies are likely to take place as part of a global strategic review, which is also “pausing” its Boxfresh brand. The review is said to be part of an effort to concentrate on a more brand-focussed portfolio with a reduced licensed footwear business. Pentland Brands is allegedly in consultation with its teams. “While our strategic review started before the Covid-19 pandemic, we know the crisis will have a major impact on our business for, at least, the next 12 to 18 months. As a result, we have looked more deeply at the needs of the business and the fundamental and sustained changes that are required to thrive in the long-term”, said Andy Long, CEO, Pentland Brands. The company will now allegedly invest in technology and digital platforms, including further expansion of the Pentland Brands retail customer website.
The Pentland Group is the majority shareholder of JD Sports Fashion, which operates 2,420 stores across 19 territories.
Sources: Retail Gazette/Drapers