Victoria Beckham’s fashion label may need cash injection to stay afloat January 21, 2021 The future of Victoria Beckham’s eponymous fashion and beauty line could be at risk after directors raised doubts over its ability to continue as a going concern without additional funding. The Beckham’s own a majority stake in the firm, meaning there is a “reasonable expectation” that the celebrity couple will provide a cash injection to [...]
Glastonbury Festival cancelled for second year running due to coronavirus January 21, 2021 Glastonbury has been cancelled for the second year running due to the coronavirus pandemic, organisers confirmed today. The iconic music festival was scrapped last year due to the outbreak of Covid-19, with tickets automatically rolled over to 2021. But this year’s event will also not go ahead due to continued restrictions in place to halt [...]
Landlord New River bucks trend to collect majority of retail rents January 21, 2021 Commercial landlord New River has bucked the high street trend and collected the majority of rent due in December due to the high number of essential retail tenants in its property portfolio. The real estate investment trust (REIT) said it had received 70 per cent of retail rents due for the fourth quarter, with 10 [...]
Ten Entertainment revenue slumps amid Covid ‘confusion’ January 21, 2021 Bowling alley chain Ten Entertainment today forecast a sharp decline in revenue for the full year as coronavirus lockdowns and confusion over changing restrictions battered sales. The London-listed firm said it expected total sales to fall 60 per cent to £36.3m in 2020 after its venues were forced to close for roughly half the year. [...]
Pets at Home sales surge as animal ownership soars January 21, 2021 Pets at Home has reported an 18 per cent leap in revenue to £302m for the third quarter of 2020. The UK’s leading pet care firm showed a strong performance despite coronavirus lockdowns effecting store openings on both a regional and national level. Trading built momentum over the festive period, with like-for-like sales seeing a [...]
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 [...]