Debenhams to reveal huge losses and job cuts in latest sign of retail bloodbath October 24, 2018 The scale of troubles facing beleaguered high street giant Debenhams unfolded this evening, with reports that the department store chain is set to reveal its biggest loss in its 240-year history tomorrow morning. Sky News reported today that Debenhams is set to post statutory annual losses nearing the £500m mark in its statement tomorrow, with plans to [...]
Sun shines on Chapel Down as Kent vineyards double harvest October 24, 2018 British winemaker Chapel Down said it has the weather to thank for a record-breaking harvest. The Kent-based winery has more than doubled its previous record take in 2014 as the right weather came in the “right order”. Read more: Winemakers running out of storage space in wake of 'record' harvest Chief executive Frazer Thompson said [...]
Trivago cuts advertising as profitability returns October 24, 2018 Hotel search engine Trivago returned to profitability in the third quarter as it cut its advertising spend. The company, which has invested heavily in marketing in the past, said the move follows a broader trend in the market. Read more: Premier Inn expands as owner Whitbread looks to life after Costa Net income was €10m [...]
Deliveroo to update app with allergen information in wake of Pret crisis October 24, 2018 Food delivery startup Deliveroo has today said it is revamping its app with a new menu system which will allow restaurants to upload allergen information for every dish. London favourites such as Tortilla, Mildred's and Chipotle have signed up for the app's trial roll out in December, which will feature 30 brands that serve almost 300 sites. [...]
Gourmet Burger Kitchen earmarks 17 restaurants for closure as it enters company voluntary agreement October 24, 2018 Famous Brands, the South Africa-based owner of Gourmet Burger Kitchen, has announced the restaurant chain will initiate a company voluntary arrangement (CVA) amid financial woes. The company said it has 17 restaurants earmarked for potential closure, affecting 250 jobs. The company would not comment on which locations may be closed. It will hold a meeting with creditors [...]
Heineken sticks to outlook as it grows beer sales in all four corners of the globe October 24, 2018 Brewer Heineken grew across the globe in the third quarter, helped by good weather in Europe and strong development in the US and South America, it revealed today in a trading update. The brewer kept its forecast for the financial year unchanged after it was revised down in July on the back of weak currencies [...]
Patisserie Valerie survives HMRC’s winding up petition as it looks into share option accounting irregularities October 24, 2018 A winding up petition against debt-ridden cake shop Patisserie Valerie has been dismissed, the company confirmed today. HMRC had sought to liquidate the scandal-hit firm over unpaid tax of £1.14m by seeking the order against parent company Patisserie Holdings' principal trading subsidiary, Stonebeach Limited, yesterday. Read more: HMRC seeks winding up order against Patisserie Valerie [...]
Ranked: Sports Direct tops poll of UK’s most loathed brands October 23, 2018 House of Fraser owner Sports Direct is the UK’s most loathed brand, according to consumer finance website Money Saving Expert. However, billionaire Mike Ashley's bottom-placed retail giant may have been hurt by a social media campaign against the company, admitted the website, which asked 7,600 readers to rank 52 household name brands. Read more: Mike [...]
Scratch that: John Lewis throws DVD players on the scrapheap as Netflix takes over October 23, 2018 John Lewis has pulled the plug on DVD players as competition from online streaming has decimated demand for physical films. The disk, which became popular in the last decade, fell out of fashion as Netflix invaded British homes. Read more: Why John Lewis' price promise won't deliver profits But those with a broken reader and [...]
Asos appoints ex-Britvic finance chief as new CFO October 23, 2018 Asos today appointed Britvic chief financial officer Mathew Dunn as its new CFO. The exact start date is yet to be announced, though the online retailer has said that Dunn will join the firm in spring 2019, leaving Britvic to take on the role. Read more: Shares in Asos soar on news of boosted profits and revenue [...]