Fashion Giant Burberry Scraps Leeds Factory Project

  • Burberry cancels plans for a factory in Leeds
  • Land next to Grade I listed Temple Works building will be sold
  • Factory plans announced in 2015, put on hold in 2017
  • Could employ up to 1000 people
  • Factory was for manufacturing and weaving of trench coats
  • Land to be sold to unnamed buyer
  • Burberry focuses on Castleford and Keighley operations

Burberry has decided to abandon its plans for a factory in Leeds and sell the land it was set to be built on. The fashion label will sell 10 acres of land next to the Grade I listed Temple Works building, as they concluded that the site is not suitable for their manufacturing needs. The factory plans were announced in 2015 but put on hold in 2017. Initially set to employ up to 1000 people and produce trench coats, the land will now be sold to an unnamed buyer. Burberry’s chief operation and financial officer Julie Brown confirmed the decision, stating that they remain committed to Yorkshire and the UK, with a focus on their existing manufacturing operations in Castleford and Keighley.

Factuality Level: 10
Factuality Justification: The article provides accurate information about the decision made by Burberry regarding its factory plans in Leeds, the reasons behind it, and the company’s commitment to Yorkshire and the UK.
Noise Level: 3
Noise Justification: The article provides relevant information about Burberry’s decision to scrap its plans for a factory in Leeds and focuses on the company’s future plans for manufacturing operations in Yorkshire and the UK.
Financial Relevance: Yes
Financial Markets Impacted: Burberry’s decision impacts its operations and potential investments in the UK
Financial Rating Justification: The article discusses a change in Burberry’s plans for a factory, which affects their manufacturing operations and investment in the UK, making it relevant to financial topics as it involves business decisions and potential impact on company performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk