John Lewis ditches ‘never knowingly undersold’ pricing pledge February 25, 2022 John Lewis will ditch its iconic “never knowingly undersold” pricing pledge on the grounds it does not reflect the current retail landscape, as high street stores look to fend off competition from online retail giants.
Carlsberg and Coca-Cola bottler forced to halt production in Ukraine after Russian invasion February 24, 2022 Brewing giant Carlsberg and a Coca-Cola bottler have shut down plants in Ukraine in the wake of Russia’s invasion. Danish brewer Carlsberg initially said it had been forced to shut its brewery in Lviv, western Ukraine, after supplies of natural gas to the brewery were cut, Reuters reported. Now, Carlsberg, which has a 31 per [...]
Studio Retail plunged into administration as 1,400 jobs in the lurch February 24, 2022 Some 1,400 jobs have been threatened as online retailer Studio Retail has formally appointed administrators. The value retailer, whose largest shareholder is Mike Ashley’s Frasers Group, has formally appointed Teneo as administrators, The Times newspaper has reported. Studio suspended its shares last week and said HSBC rejected its request for a short-term £25m working capital [...]
Storm-damaged O2 will reopen this week but the hole will be there for some time February 24, 2022 The O2 will reopen on Friday, after being damaged during stormy weather last week, however the hole will remain visible for some time. The canvas roof of the music venue was ripped to pieces when Storm Eunice saw the country battered with strong winds. Following safety checks, the O2 music arena will reopen to visitors [...]
IKEA to inject £1bn into London over the next three years February 24, 2022 IKEA is set to inject £1bn into London over the next three years, as it opens the doors to its first small store in Hammersmith. The Swedish furniture retailer, known for its large warehouse stores, is looking to branch out into city centres with a smaller, more accessible offering. The West London store, a quarter [...]
Buyers’ demand for Bath hots up after Netflix series Bridgerton February 23, 2022 Demand for homes in cathedral cities has been hotting up among overseas buyers, with house-hunters enticed by the Netflix series Bridgerton. According to data from estate agent Winkworth, demand and prices for cathedral cities are 20 per cent higher than other locations. For the city of Bath, where the Regency era romance series Bridgerton was [...]
Restaurant chain Fridays appoints new COO after Hotter Shoes demerger February 23, 2022 America inspired restaurant chain Fridays – formerly TGI Fridays – has appointed a new chief operating officer. Julie McEwan, formerly of Whitbread and Las Iguanas, will take on the new role in early March. It comes as the chain has undergone a rebrand after being demerged from Hotter Shoes last year. Owner Electra Private Equity [...]
Monsoon and Accessorize eye 20 new stores as fashion brands progress Covid recovery February 23, 2022 The Monsoon and Accessorize group has said it is eyeing 20 new store openings this year, as the fashion group continues to recover from Covid. In results published on Wednesday, the group revealed sales of £196m and EBITDA of £17.4m for the 12 months to 31 December 2021. The firms were acquired by Adena Brands [...]
Influx of foreigners: Rapid rise in hiring and relocating overseas talent to the UK due to severe shortage of job candidates February 23, 2022 A severe shortage of job candidates in the UK is fuelling a rapid rise in the number of British employers seeking out international talent to fill their vacancies and offering them more support in their move to a new country and city. Relocation platform PerchPeek told City A.M. this morning that it has seen a 327 per cent [...]
Post Office victims see hopes raised by inquiry’s line of questioning February 23, 2022 Sub-postmasters who were victims of the Post Office Horizon scandal have seen their hopes raised by the line of questioning adopted by the public inquiry’s chairman. Former judge Wyn Williams has confirmed the victims’ compensation agreements would be revisited, after the inquiry’s terms of reference didn’t mention a specific financial redress for the sub-postmasters, reported [...]