CDS Superstores, the owner of The Range, is poised to resurrect the Wilko brand, with plans to open up to five new shops before the upcoming Christmas season. The initial two stores will debut in Plymouth and Exeter, and the company has outlined ambitions to establish additional “concept” stores in locations such as Devon, the South-East, and the North of England. This development comes after Wilko faced a setback when it collapsed in August.
CDS Superstores is demonstrating its commitment to reviving Wilko’s High Street presence by prioritizing the rehiring of former Wilko staff during the recruitment process. The move is seen as a significant step towards rejuvenating the brand to its former glory.
CEO Alex Simpkin expressed optimism about the relaunch, stating, “The public reaction to the loss of Wilko stores was undeniable.” With the planned openings of these new shops, many are eager to see the return of Wilko to the High Street, offering its range of household and lifestyle products.
NatWest Faces Criticism in Nigel Farage Account Closure
An independent review has identified “serious failings” in NatWest’s handling of the closure of Nigel Farage’s Coutts bank account. While the closure itself was deemed lawful, the review highlighted significant breaches in communication. Nigel Farage has criticized the report, describing it as a “whitewash” and accusing the law firm Travers Smith, which conducted the review, of adopting a “mealy-mouthed approach.”
Previously, Farage alleged that his political views influenced the account closure, a claim that led to the resignation of NatWest CEO Dame Alison Rose. The review acknowledged that commercial considerations played a role in the closure but has nevertheless faced criticism from Farage, who continues to contest the bank’s actions.
Euro Zone Inflation to Approach ECB Target by 2025
According to the European Central Bank’s (ECB) quarterly Survey of Professional Forecasters, Euro zone inflation is expected to inch closer to the ECB’s 2% target by 2025. Despite maintaining unchanged interest rates, the ECB anticipates economic growth of below 1% in the coming year. The survey forecasts gradual but persistent disinflation, estimating consumer price growth of 2.7% in 2023, slightly below the ECB’s projection.
In the adjusted 2025 figure, the survey aligns more closely with the ECB’s target, forecasting inflation at 2.1%. The shift comes amidst concerns about rising energy costs and their potential impact on inflation in the Euro zone.
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