Creditors of Ann Summers have approved a plan which would slash rents at
two dozen of its stores. The company said that 90% of votes had been cast in favour of its Company Voluntary Arrangement (CVA), which switches 25 of its stores onto turnover-base rents.
The firm had already agreed new rents with the landlords at
91 of its other branches, it confirmed earlier this week when announcing the plan.
No jobs will be lost, or stores closed as part of the CVA.
A Sydney sex shop owner has revealed how an idea created to help her store survive lockdown has turned into a money-maker, with the shop citing doubled revenues.
The idea was born during Australia's total lockdown of non-essential shops. Eloise
Monaghan, the founder of Honey Birdette, explained:
I was frightened for my brand but it made us think, 'right, what can we do?'
So we did virtual appointments, Zoom rooms, Insta rooms, virtual
erotic book readings -- but private appointments were the COVID option that really emerged as a banger.
Honey Birdette revealed it doubled its revenue by closing its doors to the public and opening up for private shopping experiences.
Customers are then given a glass of champagne on arrival and the privacy to explore everything the label has to offer, with the limited number of guests ensuring COVID-Safe practices are upheld.
The idea proved so popular, Honey Birdette voluntarily
closed the doors of a store to the public altogether, only accepting private bookings made through the brand's website.
In the next few months a new appointment-only store will open and it's only the beginning for the global brand, with plans to roll
it out in other cities and countries.
The ETO Show centres around products and online/offline sex toys and pleasure products market.
it is trade only and will next be held at the Ricoh Arena in Coventry on 13-14 June 2021/
The show has just received a temporary sex shop licence
from Coventry Council.
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