The week in pictures

We need to talk about Majestic.

On Monday, the retailer rannounced it will close stores and rebrand as Naked Wine as it concentrates on its online business, despite CEO Gormley insisting the recently transformed Majestic business had “the potential to be a long-term winner”.

Many analysts were surprised by the unforeseen change in tack in the company’s strategy. Equity Research Analyst at Liberum Wayne Brown said there was no doubt retail was challenging on the high street, but questioned why the group would completely reshape the business, when only three and a half years ago, it thought it was an excellent idea to put these two businesses together.

“Why was it a good idea then and why is it a bad idea today?” he asked.

Our retail editor Arabella Mileham has been covering the story this week. You can read her analysis of the situation here.

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