"after seven years of growth, Next had over-expanded suicidally" .. "some stores were not bringing in enough to pay the rent." Davies was sacked and the share price fell to 7p. Chairman Sir David Jones accused Davies of being egotistical and taking Next to the verge of bankruptcy. In October 1988, Next sold 433 jewellery stores in the United Kingdom, which principally traded under the Salisburys and Zales brands, to the Ratners Group for US$232 million. The company bought the youth brand Lipsy in 2008. In autumn 2009, Next launched an online catalogue for the United States offering clothing, shoes and accessories for women, men and children. Next's prices in Ireland attracted criticism in 2009 when the company was one of four retailers accused of failing to pass on exchange rate savings to shoppers in the Republic. In July 2010, a BBC investigation found Next was breaking the Consumer Protection (Distance Selling) Regulations 2000 by billing customers for its delivery costs even if goods were returned within the seven working days. A spokesman for Next admitted that they had been doing this for three years but promised to comply by August 2010. Trading Standards said that the DSRs had been in force for ten years, and there was no excuse for not adhering to them. In 2014, Next launched localised cross-border sales to Ukraine. Wages controversy In May 2014, the Living Wage Foundation bought Next shares and attended the annual general meeting in an attempt to persuade the company to pay at least £6.70 and become one of the UK's 700 living wage employers. Next was targeted because it claimed to be a good employer and was thriving. Professor Sir George Bain, who set the minimum wage in 1999, said employers could afford to pay much more but acknowledged enforcement could cause unemployment in the retail sector. In October 2014, the company was one of several retailers criticised by journalist Janice Turner in The Times for failing to pay what she described as a living wage. Turner further argued UK taxpayers pay £28 billion to low-paid workers through tax credits, and retail companies – which have the highest proportion of low paid workers – are exploiting austerity and effectively adding staff wages to the UK welfare bill. When asked to explain the salaries of lower-wage workers despite large profits, a Next spokesperson replied that the company had thirty applicants for