Arcadia collapse leaves bigger than expected £510m pension deficit February 19, 2021 The collapse of high street empire Arcadia has left a £510m pension deficit, some £200m more than previous estimates. Arcadia collapsed in December, becoming the largest casualty of the coronavirus pandemic and leaving thousands jobless. The news of a bigger-than-expected pension deficit, first reported by the Retail Gazette, paints a starker picture for individuals affected [...]
January retail sales drop 8.2 per cent as third lockdown takes high street ‘to the edge of the abyss’ February 19, 2021 Retail sales volumes dropped by 8.2 per cent last month, compared to December, as the third national lockdown affected sales across the sector. All sectors experienced a decline in sales last month, except non-store retailers and food stores, reporting growth of 3.7 per cent and 1.4 per cent, respectively, compared to the final month of [...]
Before the Bell: All eyes are on UK retail sales and PMI numbers today February 19, 2021 Sentiment in stocks this week has been slowly eroded as the bullish mood that circulated on Monday has since turned a little bearish. At the start of the week, the outlook was upbeat on account of optimism connected to the vaccine rollout. The UK confirmed that it was on track with its vaccination distribution scheme [...]
PureGym CEO: We should be allowed to reopen ahead of high street shops February 18, 2021 PureGym CEO: We should be allowed to reopen ahead of high street shops
Asda web sales soared 76 per cent ahead of billionaire Issa brothers takeover February 18, 2021 Asda web sales soared 76 per cent in ahead of billionaire Issa brothers takeover
Moonpig toasts ‘strongest ever’ trading in run up to Valentine’s Day February 18, 2021 Moonpig, the online greeting card platform that listed on the London Stock Exchange this month, said this morning that it expects to double revenues this year as it toasted its its “strongest ever” trading week ahead of Valentine’s Day. The digital retailer said revenue for the financial year ending 31 April 2021 is expected to [...]
UK nightlife ‘faces extinction’ without government support February 18, 2021 The UK’s nightlife scene is at risk of extinction without urgent financial support, the government has been warned. A group of 40 cross-party MPs today urged the prime minister and chancellor Rishi Sunak to bring forward a sector-specific grant package and lay out a detailed roadmap for reopening venues to avoid “irreversible losses” for businesses. [...]
Pub and restaurant giants circle struggling firms and property in post-pandemic expansion push February 17, 2021 Pub and restaurant giants and private equity firms are circling smaller chains and vacant properties, looking to snap up expansion opportunities at a discounted price during the Covid pandemic and reap the rewards when the industry bounces back. Merger and acquisition activity in the hospitality industry has already begun. Figures from restructuring firm Resolve showed [...]
Live events could drive UK’s mass Covid testing push, says UK Music boss February 17, 2021 The live events sector could be a key driver of the government’s plans to launch a mass Covid testing blitz in England as lockdown is lifted, the chief executive of UK Music has said. Jamie Njoku-Goodwin, a former aide to health secretary Matt Hancock, said widespread testing using lateral flow tests “has huge potential to [...]
Pubs and restaurants could open in May under lockdown exit blueprint February 17, 2021 Pubs and restaurants could reportedly open for limited trading by May under a new roadmap for exiting lockdown being drawn up by government. A blueprint for lifting coronavirus restrictions would allow rules to be eased at four-weekly intervals, with a return to more normality expected by July. The gradual reopening could begin in early April, [...]