Budget 2021: Pubs, restaurants and retailers toast Sunak’s announcement but warn of gaps in support March 3, 2021 The hospitality and retail sectors have welcomed the Chancellor’s extended support for pubs, restaurants, shops and salons, but said more could be done to encourage consumers back to the high street after lockdown. Rishi Sunak this afternoon announced measures including a business rates holiday extension, new “restart” grants, a VAT cut extension and a beer [...]
Budget 2021: Beer duty increase scrapped March 3, 2021 The chancellor this afternoon announced that the planned rise in beer duty will be scrapped in recognition of the challenges facing the hospitality sector. Rishi Sunak said planned tax increases on beer, wine and spirits will be cancelled for the second year in a row, following a tough period for pubs and restaurants. “This applies [...]
Budget 2021: Business rates holiday extended to end of June March 3, 2021 The business rates holiday for retail and hospitality firms will continue until the end of June, the chancellor announced today. Rishi Sunak told the House of Commons that the 100 per cent business rates holiday will be extended for three months. For the remaining nine months of the financial year, business rates will be discounted [...]
Budget 2021: Hospitality and retail firms to get £5bn of ‘restart’ grants March 3, 2021 The chancellor has announced a new ‘restart’ grant to help retail, hospitality and personal care businesses reopen from April. Retailers, which are due to reopen from April, will be eligible for grants of up to £6,000 per premises. Meanwhile pubs, restaurants and salons, which will be closed until June, will be able to claim grants [...]
Budget: The UK’s contactless payment limit lifted to £100 March 3, 2021 Rishi Sunak will today lift the limit on contactless payments to £100 in a bid to boost the UK’s ailing retail sector. The previous limit on contactless payments was £45, however the Financial Conduct Authority (FCA) conducted recommended lifting the cap after a public consultation. “As we begin to open the UK economy and people [...]
Vimto owner Nichols suffers profit drop after ‘most challenging trading’ in 80 years March 3, 2021 Nichols, the owner of Vimto, said it will take a £5m hit following the most “challenging trading period” in the out of home drinks sector for 80 years. The company said group revenues fell to £118.7m due to restrictions on the out of home drinks sector, and gross profit dropped £20.4m, coming in at £49.6m. [...]
Brian Mattingley leaves 888 to become Playtech chair March 3, 2021 Gambling software developer Playtech has concluded its near two year search for a chairman, appointing 888 chair Brian Mattingley to the role. Mattingley will become the long-term successor to Alan Jackson who announced he was stepping down from Playtech almost two years ago. He replaces Claire Milne who has served as interim chair since May [...]
Shakespeare: Dunelm brand sees a boost as Brits improve their homes during lockdown March 3, 2021 Shakespeare: Dunelm brand sees a boost as Britons improve their homes during lockdown
Pandemic binge-watching drives UK entertainment spend to record high March 3, 2021 UK spending on films, music and gaming increased to a record high last year, driven by increased demand for streaming during Covid-19 lockdowns. Retail entertainment spend increased 18 per cent to a record £9.3bn in 2020, marking the eight successive year of growth in the sector and the fastest growth rate ever recorded. The final [...]
High street retailer French Connection seeking new suitors after investment firms pull out of talks March 2, 2021 High street retailer French Connection is racing to find a new buyer after investment firms Spotlight Brands and Gordon Brothers pulled out of early-stage talks to buy the struggling chain. The fashion firm has formally launched a sales process and said it has been approached by three other suitors. It is also still in preliminary [...]