Ready meal firm Parsley Box raises £17m ahead of London listing March 26, 2021 Parsley Box has raised £17m through an initial public offering (IPO), which will value the ready meal delivery firm at £84m. The Edinburgh-based company, which targets the “baby boomer” generation, this morning announced its proposed admission to trading on London Stock Exchange’s AIM market. It raised gross proceeds of around £17m – comprising £5m for [...]
Corona Impact Series: How an immersive Hackney entertainer blurs pandemic boundaries March 25, 2021 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. This week: How an immersive entertainment agency in Hackney was forced to switch from physical to virtual overnight, without losing any of the power of the experiences. “As Covid hit and the [...]
Asda faces ‘multimillion pound’ hit if supermarket loses equal pay claim March 25, 2021 Asda could be forced to make a “multimillion pound” payout if it loses an appeal on equal pay at the UK’s top court tomorrow. The supermarket is waiting for the Supreme Court’s judgement after it appealed against a ruling that workers in Asda stores – who are mainly female – could compare their pay with [...]
200,000 more people furloughed last month as 4.7m are still on the scheme March 25, 2021 Another 200,000 people were put on furlough for the first time last month as the government paid out nearly £4bn to cover wages. HM Revenue and Customs (HMRC) said it had paid £57.7bn in furlough cash to around 11.4m people since the pandemic began. Around 4.7m people were still on furlough by the end of [...]
Free school meals provider Compass charts course to better margins after revenues sink March 25, 2021 Free school meals provider Compass charts course to better margins after revenues sink
Boohoo cuts ties with hundreds of suppliers following Leicester factory scandal March 25, 2021 Online fashion retailer Boohoo has cut ties with hundreds of suppliers as it seeks to improve conditions for factory workers. The e-commerce giant this morning announced it has “ceased doing business with a number of manufacturers who were unable to demonstrate the high standard of transparency required”. Boohoo published a list of its 78 approved [...]
Cineworld plunges to $3bn loss as screen closures continue March 25, 2021 Cineworld announced this morning that it has secured $213m (£155.6m) bond from investors to help with reopening costs as it revealed it plunged to a $3bn loss last year. The cinema chain posted a loss after tax of $2.65bn in the year ended 31 December, compared to profit of $180.3m in the previous year. Revenue [...]
Ten Entertainment chairman Nick Basing to depart tenpin bowling company in September March 25, 2021 Ten Entertainment chairman Nick Basing depart tenpin bowling company in September
Jackpotjoy-owner Gamesys agrees £2bn takeover deal with US casino owner Bally’s March 24, 2021 US casino owner Bally’s has agreed a takeover deal for Jackpotjoy-owner Gamesys in a move which could value the UK firm at more than £2bn. Shares in online gambling firm Gamesys soared after Bally’s told US investors it had agreed on key terms regarding a potential deal. Bally’s Corporation, which operates casinos and racetracks in [...]
All Bar One owner Mitchells & Butlers dealt bloody nose by investors over executive pay March 24, 2021 Mitchells & Butlers, the owner of All Bar One and Toby Carvery, has been dealt a blow by shareholders against executive pay plans and corporate governance. Nearly a fifth of investors – 17.5 per cent – opposed the pub chain’s remuneration policy at today’s annual general meeting. Meanwhile, around a quarter of shareholders opposed the [...]