From Boxpark to Punch Pubs: Cash influx for leisure sector as UK private equity deals double in just one year May 16, 2022 The number of UK private equity deals for companies in the leisure sector has more than doubled from 12 to 26 in the past year, according to research by one of the City’s biggest law firms. Private equity funds are taking the opportunity to pick up assets at comparatively low prices ahead of the leisure [...]
Made.com slashes 2022 outlook amid ‘tough trading environment’ May 16, 2022 Lifestyle brand Made.com lowered its expectations for the rest of 2022, with both gross sales and revenue expected to drop 15 per cent and seven per cent respectively.
Greggs opens 49 new shops after sales of chicken goujons soar May 16, 2022 Sausage roll seller Greggs has seen shares dip after admitting city sales still lag behind the rest of its sites. Although the bakery chain said it had had a “good” start to 2022 on Monday, shares were down some 2.8 per cent in the afternoon. The firm has been reshaping its portfolio of stores to [...]
Post-pandemic expansion push for Screwfix as DIY giant goes on hiring spree for 800 people to staff 80 new UK stores May 16, 2022 As part of plans to open 80 new shops across the UK and Ireland, home improvement business Screwfix said this morning it is to create 800 retail jobs by January. The retailer’s sales were boosted during the pandemic as locked-down Britons hired tradespeople to spruce up their properties and gardens. Screwfix and B&Q owner Kingfisher [...]
Next and Frankie & Benny’s bosses under fire for hefty pay packets May 16, 2022 Frankie & Benny’s and Next bosses are under fire for hefty bonuses after both companies received government support during coronavirus measures. Next chief Simon Wolfson took home almost £4.4m last year, up 50 per cent on the year before, including an annual bonus worth 100 per cent of his basic salary. Meanwhile, Andy Hornby, chief [...]
Nightclubs warn of ‘tragedy’ without government intervention into bouncer shortage May 16, 2022 Nightclubs have warned of a “tragedy where lives are lost” unless the government intervenes to ameliorate a shortage of bouncers. Late-night venues are “running out of time” as a busy summer season approaches, bosses at the Night Time Industries Association (NTIA) and UK Door Security Association cautioned. Nightclubs are eagerly awaiting their first full summer [...]
Women ‘driven out of the workforce’ by pricey childcare costs May 16, 2022 Pricey childcare is exacerbating the country’s gender pay gap and driving women out of the workforce, according to a London thinktank. Ministers have been urged to take further action to provide cheaper childcare, by The Centre for Policy Studies (CPS) in a new paper today. Some 30 per cent of two-earner household incomes is dished [...]
West End: Shaftesbury investor raises concern with £3.5bn merger with rival Capco May 15, 2022 Concerns have been raised over West End landlord Shaftesbury’s planned £3.5bn merger with rival Capital & Counties Properties (Capco), by a key investor. Shareholders could be left worse for wear, Chris Hills, chief investment consultant at Investec, which has a 1.65 per cent stake in Shaftesbury, told The Times. As Shaftesbury trades at just an [...]
Boots US owner Walgreens takes out $5.3bn in dividends from UK arm as sales deadline looms May 15, 2022 Boots’ US owner has withdrawn over $5.3bn of dividends from its UK holding firms, even though it received hundreds of millions of pounds of government pandemic support cash. The high street chemist’s UK-based parent company, Superior Holdings, coughed up $4.1bn in dividends to Walgreens last year, in addition to paying out a $909.6m dividend the [...]
Eurovision: Ukraine victorious, United Kingdom comes second May 15, 2022 The United Kingdom had a remarkable showing at the Eurovision song contest, coming in second place and narrowly missing out to hot favourites Ukraine. Sam Ryder swept to the dramatic win with the jury, after his Spaceman track wowed the audience getting 283 points. His performance received the maximum 12 points from countries including Ukraine, [...]