Boots and L&G strike ‘largest ever single transaction’ pension deal as buy-in flurry continues November 24, 2023 Boots has struck a record £4.8bn buy-in deal with L&G today which will see liabilities for the retailer’s pension scheme shifted over to the insurance giant.
Nipper’s back: HMV swings open the doors of historic Oxford Street store November 24, 2023 HMV is to swing open the doors of its historic Oxford Street store after a four-year absence, with the retailer’s boss saying it is a “great moment” in the chain’s recovery.
Consumer confidence: Brits cheer up in time for Black Friday November 24, 2023 Retailers are bracing for a Black Friday bonanza - boosted by news of consumer confidence finally turning a corner
Wilko bosses to be questioned by MPs following company’s collapse November 23, 2023 The bosses of Wilko will appear before MPs next week to explain the shortfall in the company’s pension fund and why its owners were taking money out of the debt-laden company. MPs on the Business and Trade Committee said they would question the company’s former chief executive and chairwoman as well as representatives from its auditor EY. [...]
West End braces itself for Black Friday spending boost November 23, 2023 Retailers in London are bracing themselves for the start of the Christmas spending period as a swarm of bargain hunting Brits are set to hit the West End this Black Friday. Unseasonable weather in both the summer and autumn battered the majority of retailers’ earnings over the first and second quarter of the year, so [...]
Nightcap: Cocktail group’s revenue stirring but shaken by rail strikes November 23, 2023 Nightcap, the cocktail bar chain owned by Dragons Den star Sarah Willingham, has reported a 29 per cent leap in revenues during the year to £46.4m. However, the late bar operator, which owns the likes of London Cocktail Club and Barrio, said that like-for-like revenue declined by 12.5 per cent following “record breaking” figures last [...]
Hornby: Model railway maker’s losses off track due to slower Christmas demand November 23, 2023 The maker of iconic model railway's Hornby saw losses mount in its half year results, amid a slower ramp up in demand headed into Christmas.
PZ Cussons: Carex maker has to pay up for Nigerian arm November 23, 2023 Carex maker PZ Cussons said it would exit the Nigerian stock exchange earlier this year after the naira was devalued when inflation hit 24.08 per cent.
Pubs raise a glass to Hunt’s alcohol duty freeze and rates relief November 22, 2023 The UK's struggling pub sector has said it was "extremely pleased" with the news that alcohol duty will be frozen and business rates relief has been extended.
Banks profiting from rate rises boost luxury concierge firm Ten Lifestyle November 22, 2023 UK banks profiting from soaring interest rates has helped boost earnings at luxury concierge platform Ten Lifestyle to record levels, the firm said today. The firm, which counts Coutts and St James’s Place as clients, works with a host of corporate customers to help organise everything from hotel upgrades to reserving tables at top restaurants. [...]