Cineworld secures $750m funding lifeline amid Covid-19 closures November 23, 2020 Cineworld has secured $750m (£561m) in additional cash to help bolster its balance sheet amid coronavirus closures. The FTSE 100 group, which is the world’s second largest cinema chain, said it has agreed a new $450m debt facility and a waiver on all banks covenants on its debt until June 2022. Other measures include an [...]
Gyms and non-essential shops to open cross-country post-lockdown November 23, 2020 Gyms and non-essential shops in all areas are expected to be allowed to reopen when England’s national lockdown ends. This afternoon Boris Johnson will give details on England’s return to the ‘three tier system’ when lockdown ends on 2 December, the BBC reported. Although parts of the tier system will be tougher, the 10pm curfew [...]
Second national lockdown to drive Black Friday sales down 20 per cent November 23, 2020 The introduction of a second national lockdown will push Black Friday sales down 20 per cent as consumers wait for shops to reopen to bag a bargain. Nationwide Building Society predicted a drop off in spending on 27 November, compared to a previous forecast of a 12 per cent increase, due to the month-long lockdown. [...]
Government to scrap 10pm hospitality curfew November 22, 2020 The government is expected to scrap the 10pm curfew for hospitality businesses when the current UK-wide lockdown ends. The Prime Minister is reportedly planning to extend pub and restaurant opening hours until 11pm when restrictions are eased on 2 December. Last orders will still be called at 10pm but customers will be given an extra [...]
Rishi Sunak confirms end of England Covid lockdown on 2 December November 22, 2020 Rishi Sunak has confirmed England’s national Covid lockdown will end on 2 December and that the country will instead move into regionalised restrictions. The chancellor said this morning that Boris Johnson will make an announcement tomorrow setting out the details of the post-lockdown Covid plan. A statement from Downing Street this morning said that the [...]
Landlords approve Clarks CVA clearing path for £100m private equity deal November 20, 2020 Clarks creditors have approved the footwear retailer’s restructuring plan, clearing the path for a £100m private equity deal that will take the 195-year-old firm out of family ownership for the first time. Clarks announced this afternoon that its Company Voluntary Arrangement proposal, which was launched earlier this month, has been approved by more than 90 [...]
UK retail sales outperform expectations ahead of second lockdown November 20, 2020 UK retail sales rose for the sixth consecutive month, smashing analysts’ expectations as Britons stocked up on goods ahead of new restrictions. In October UK retail sales volumes grew 1.2 per cent, well ahead of the 0.0 per cent expected, said the Office for National Statistics. Volumes are now 6.7 per cent higher than in [...]
From hero to zero: How supermarkets became the villains of the pandemic November 20, 2020 The recent news from Public Health England (PHE) that supermarkets are the most frequent common exposure setting for those catching Covid-19 in England is both shocking and devastating. But should we really be too surprised? PHE used data collated from the NHS test and trace app during the lockdown in November when supermarkets, as in [...]
Aldi extends Deliveroo service across London November 20, 2020 Aldi has extended its trial with Deliveroo to 130 stores across the UK, including 16 London branches. The budget supermarket announced this morning that Londoners will be able to order groceries through the Deliveroo app, to be received in as little as 20 minutes. Orders within 6km of participating stores, which include Tooting, Camden and [...]
Black Friday: Click and collect to boost retail park footfall as high streets suffer November 20, 2020 Retail footfall on Black Friday is forecast to plummet due to the closure of non-essential stores, but online stores, retail parks and shopping centres will benefit from click and collect services, according to the latest research. England is set to be the hardest hit, with footfall expected to plunge 61.7 per cent on Black Friday [...]