Breaking: TUI to shut 48 more high street stores across Britain March 23, 2021 Travel giant TUI confirmed this evening that it is planning to close 48 more of its retail stores across the UK. Britain’s biggest tour operator said the travel industry and the high street “are both facing unprecedented pressure” due to the coronavirus pandemic. All 273 employees affected by the decision will be offered new roles [...]
Pawnbroker H&T suffers profit slump as consumers wary of taking on debt in pandemic March 23, 2021 H&T Group, the high street pawnbroker and loan provider, suffered a drop in profit last year as fewer customers borrowed money during the pandemic. The company announced this morning that profit before tax fell 22.4 per cent to £15.6m in 2020 as its pledge book fell 33.1 per cent to £48.3m. H&T’s share price fell [...]
Time Out ditches plans for London Waterloo market due to pandemic March 23, 2021 Time Out today said it has abandoned its plans to build a food market at London Waterloo due to the impact of the Covid-19 pandemic. The media and hospitality group had been planning to open a new market under the former Eurostar platforms at the central London train station. The project was originally scheduled to [...]
Cineworld confirms May reopening plans as it lines up film deal March 23, 2021 Cineworld today confirmed plans to reopen its 127 venues in the UK in May in line with the government’s roadmap for easing lockdown restrictions. Under current guidelines, indoor socialising and hospitality will resume from 17 May, while the government aims to lift all limits on social contact in June. Cineworld today also said it will [...]
Coronavirus: How has a year of lockdowns changed the way we shop? March 23, 2021 One year ago today Boris Johnson announced the UK would enter its first coronavirus lockdown, forcing non-essential shops, pubs and restaurants to close in an unprecedented move to slow the spread of Covid-19. The way we shop had changed before the Prime Minister addressed the nation on the evening of 23 March 2020. Images of [...]
McColl’s fails to return to to profit despite bumper convenience store sales during pandemic March 23, 2021 McColl’s reported a jump in revenue last year as the convenience store chain benefitted from a surge in demand for local stores during the pandemic, but failed to return to profit. Total revenue for the year was up 3.2 per cent to £1.26bn, with its store closure programme partly offsetting the surge in sales. Like-for-like [...]
Good cluck: US fried chicken chain Popeyes to open first UK store March 23, 2021 US fried chicken chain Popeyes has today announced it will launch its first UK store this year, with plans to open hundreds of branches across the country. The fast food firm will open the store by the end of 2021, it said this morning, and is targeting 350 sites across the UK within the next [...]
Sir Philip Green’s office furniture up for sale as administrators flog Arcadia assets after collapse March 22, 2021 Administrators have begun flogging Arcadia’s assets, including sewing machines and Sir Philip Green’s office furniture, following the collapse of his retail empire. Deloitte has appointed Hilco Global to sell the former Topshop owner’s London headquarters in a dramatic fall from high street royalty to the auction house. Arcadia collapsed into administration last year, putting 13,000 [...]
Cadbury-owner Mondelez to buy UK protein bar brand Grenade for £200m March 22, 2021 Mondelez, the US owner of Cadbury, is preparing to announce a £200m deal to buy British protein bar brand Grenade. It has secured a deal with Grenade’s majority shareholder to buy the sports nutrition firm, Sky News reported. The deal – which would be Mondelez’s most significant UK takeover since it acquired Cadbury in 2009 [...]
B&Q owner Kingfisher toasts click & collect success as sales surge March 22, 2021 Kingfisher, the owner of B&Q and Screwfix, this morning announced that sales and profit surged last year, boosted by its click and collect offer, as consumers began DIY projects during lockdown. Sales were up 7.2 per cent to £12.3bn and profit after tax was £592m, up from £8m in the previous year. Adjusted post-tax profit [...]