Gaucho restaurant boss claims steaks would have to cost £100+ to cover rising energy bills September 6, 2022 The hospitality chief behind the Gaucho steak restaurants has said his venues would have had to charge beyond £100 for steaks in order to cover energy costs if they were not fixed. Restaurant bosses have urged the new Prime Minister Liz Truss to issue emergency support for the sector as some venues grapple with bill [...]
Deliveroo gears up for Supreme Court challenge over workers’ rights September 5, 2022 A gig economy union is readying to take Deliveroo to the Supreme Court, following its partnership deal with another union. The Independent Workers’ Union of Great Britain (IWGB) said it is set to challenge Deliveroo in the Supreme Court, alleging a denial of collective bargaining rights. In May, the union received criticism from workers after announcing [...]
Asos shares slip after fashion marketplace reminded analysts of lower profit guidance September 5, 2022 Asos saw its share price tumble on Monday, alongside several retailers including Joules and THG. The share slide followed reports that the online fashion marketplace had privately reminded City analysts on subdued guidance for the year ahead, as is a standard pre-close practice. Asos shares were subdued by almost six per cent on Monday afternoon, [...]
Bed Bath and Beyond CFO falls to his death in New York after mass closures and layoffs September 5, 2022 The chief financial officer of American retailer Bed Bath & Beyond Inc fell to his death from a New York skyscraper. Gustavo Arnal, 52, who previously worked as CFO for London-based cosmetics brand Avon, died on Friday in wake of the company closing stores and laying off workers. New York police responded to reports he [...]
Brewdog boss calls for emergency tax relief as pubs stare down ‘existential threat’ of high bills September 5, 2022 Brewdog CEO James Watt has called for emergency tax relief for the hospitality industry as pubs battle the “genuinely existential threat” of rising energy bills. Last week, the Scottish brewer and bar group announced it would be closing six outlets across the UK, including three in London, due to elevated headwinds. The situation facing pubs [...]
Brits ditch the loungewear and head back to the office: John Lewis September 5, 2022 Non-wired bras, velour tracksuits, jigsaws and wall-mounted desks have fallen out of favour with British shoppers as they put the lockdown lifestyle behind them, annual John Lewis sales figures suggest. The retailer’s annual How We Shop, Live And Look report suggests customers are “casting off the trappings of a life in lockdown” with sales of [...]
Rolex price hike in the UK thanks to weak pound sterling September 4, 2022 ROLEX has upped prices of watches sold in the UK as sterling’s weakness had made the brand’s high-end timepieces cheaper to buy here than in other markets. The price hike, first reported by trade publication WatchPro, comes amid growing concern at the strength of the pound, with some analysts suggesting it could near parity with [...]
Andy Murray backed Castore scores £750m valuation September 4, 2022 Andy Murray backed clothing brand Castore has been valued £750m as the firm looks to compete with the likes of Nike and Adidas.
Matalan eyes up sale as British retailers continue to feel sting September 4, 2022 Matalan's founders are eyeing up a sale, as the fashion firm struggles to fight off inflationary pressure.
Sunday Sitdown: Grind’s CEO on conquering America with his cult coffee chain September 4, 2022 Londoners may recognise the Grind coffee brand. There are currently eight branches around the capital and a 15,000 sq ft roastery in Bermondsey. Despite a hit to cafe revenues during the pandemic, the company is taking its business model across the pond as City A.M. can reveal today Grind has ambitious plans to conquer the [...]