The Bank of England kept interest rates unchanged at 0.5 percent.
Some 6,000 layoffs are expected at the struggling British retailer that’s set to be acquired by C.banner.
Sanpower will retain a minority holding in the troubled retailer, which plans to shut stores.
Nearly 1,000 jobs could disappear as part of a new restructuring program aimed at stemming losses at the retailer.
Sanpower owner Yuan Yafei, who also owns China’s oldest department store Nanjing Xinjiekou, is looking to offload a 51 percent stake in the company he purchased in 2014.
The retail veteran has worked at Fenwick of Bond Street and Selfridges.
A new generation of Chinese investors is rapidly descending on Europe’s fashion and luxury brands.
The fall 2017 range will be available for purchase in-store and online later this fall.
At a presentation held at their head office on Baker Street, chairman Frank Slevin said it’s been a transformational period for the retailer.
Oddy has announced his resignation after less than two years in the job.
Oddy had been in the role for less than two years.
The Montreal-based intimate apparel brand, which launched in 1988, is focused on providing newness along with core products and growing out its distribution within hotels and spas.
The veteran retailer Don McCarthy will serve as chairman.
The retailer has created two new roles, naming Maria Hollis executive director of buying and design, and Dorothy Maxwell head of sustainability.