London’s new ‘postcode lottery’: Councils fail to pay event firms lockdown grants January 21, 2021 London event firms have slammed the process for securing essential grants, describing the task as a “postcode lottery” as the application timeline and criteria differs dramatically in each borough.
Unilever to ensure suppliers pay living wage by 2030 in new social change drive January 21, 2021 Unilever this morning set out plans to ensure all workers in its supply chain are paid a living wage by 2030 as part of a new wide-ranging social mobility agenda spurred on by the pandemic and the Black Lives Matter movement. The consumer goods giant said its ambition is “to improve living standards for low-paid [...]
Saga to require holidaymakers to get Covid-19 vaccine before travel January 20, 2021 Over-50’s holiday provider Saga has announced that all customers will be required to have a Covid-19 vaccination travelling on the firm’s cruises or package holidays. The firm said it is preparing to restart its travel business in May – delayed from the planned April date – to allow customers time to receive a jab. Customers [...]
Hospitality sector urges Sunak to extend business rates and VAT support January 20, 2021 Hospitality bosses have again issued an urgent call for the government to extend business rates and VAT support in the March budget as the sector remains closed due to coronavirus restrictions. In a letter to the chancellor, industry body UK Hospitality asked him to extend the VAT cut to five per cent for a further [...]
DIY firm Grafton reinstates dividend with £30m shareholder payout January 20, 2021 Grafton Group, the owner of Leyland DIY stores, announced this morning that it will reinstate its dividend after the £30m shareholder payout was previously halted to preserve cash during the pandemic. The FTSE 250 builders merchant firm said the previously suspended second interim dividend for 2019 will now be paid on 19 February. The dividend [...]
Online sales soar as Dixons Carphone covers wounds of festive store closures January 20, 2021 British retailer Dixons Carphone has seen sales rocket during Christmas as online growth of 121 per cent balanced out store closures. Like-for-like electrical sales increased 11 per cent over the festive period as shares rose by 2.8 per cent, the group announced on Wednesday. Dixons Carphone, who trade as Currys PC World and Carphone Warehouse [...]
Office provider IWG takes further £160m hit on coronavirus crisis January 20, 2021 The impact of the coronavirus pandemic is expected to be prolonged for IWG, with the business forced to make further provision for up to £160m for network rationalisation. The office landlord announced in a market update this morning it was taking “further prudent actions” to reduce costs for the business, as it expected its recovery [...]
Burberry sales fall slightly as business weathers pandemic January 20, 2021 Store sales fell at Burberry during the third quarter of 2021, as the coronavirus lockdown forced the closure of 62 stores – 15 per cent of its store network. In an update this morning the business said its collections had resonated with consumers, and so despite Covid restrictions it achieved “a high single-digit full-price-sales [...]
WH Smith expects £20m monthly cash burn as restrictions continue January 20, 2021 WH Smith expects a monthly cash burn of £15m to £20m from January to March 2021, assuming Covid-19 restrictions stay as they are. Trading at the book and stationary chain was ahead of plan toward the end of 2020, so the business had some £340m of available cash and facilities at the end of December [...]
Wetherspoon taps investors for £94m as pub chain circles central London acquisitions January 19, 2021 JD Wetherspoon will tap investors for almost £94m as the pub chain is seeking to bolster its balance sheet and swoop on potential central London expansion opportunities. The FTSE 250 firm announced this afternoon that it will launch an equity placing for the second time during the pandemic, which is expected to raise gross proceeds [...]