Nightclub owner Deltic seeks buyer as Covid-19 dances up a storm October 14, 2020 The UK’s largest nightclub operator has kicked off an urgent hunt for fresh funding as it faces potential collapse due to the coronavirus pandemic. Deltic Group, which owns brands including Pryzm and Atik, has hired accountancy firm BDO to explore options for the company, including finding new investors. Founded in 2011, Deltic employs 2,000 people [...]
Gourmet Burger Kitchen rescued by ‘chicken king’ Ranjit Boparan October 14, 2020 The multi-millionaire owner of a UK poultry business will reportedly buy Gourmet Burger Kitchen, in a move that will rescue more than 600 jobs. Ranjit Boparan, who is known as the “chicken king” after founding the 2 Sisters Food Group, will buy GBK through a pre-pack administration, Sky News reported. Boparan has built one of [...]
Asos sounds cautious note on future demand after profit quadruples October 14, 2020 Asos reported a quadrupling in full-year profit following a spike in online shopping during the coronavirus pandemic, but warned on the outlook for consumer spending among its young customer base. The fashion ecommerce giant reported profit before tax of £142.1m for the year to 31 August, up from £33.1m the year before. Read more: Asos [...]
Just Eat Takeaway’s order growth surges as delivery demand continues to soar October 14, 2020 Just Eat Takeaway (JET) said the surge in online food orders caused by the coronavirus pandemic continued into the third quarter, with orders jumping 46 per cent compared to a year earlier. Order growth accelerated from the jump of 32 per cent the European food delivery giant recorded in the first half of 2020. In [...]
Swipe card: Social media accounts for quarter of all online purchases October 14, 2020 Almost a quarter of all online purchases are now made through social media, new data has revealed, as more and more people use their favourite messaging platforms for shopping. Research by Visa showed almost a fifth of Brits use social apps to shop, while one in 10 has made a purchase this way since the [...]
East London Liquor: Craft doesn’t have to mean expensive, as indie distiller toasts Tesco and Co-op deals October 13, 2020 East London Liquor Co boss: Craft alcohol doesn't have to mean expensive, as indie distiller toasts Tesco and Co-op supply deals
Cineworld could be out of money ‘in weeks’ October 13, 2020 Cineworld could run out of money within weeks, analysts at the Bank of America have warned, with the chain needing to find $500m (£380m) if it is to survive the winter. Last week the chain announced that it would temporarily close all of its screens in the UK and US due to the coronavirus pandemic, [...]
Amazon Prime Day piles pressure on retailers ahead of Christmas trading period October 13, 2020 Amazon Prime Day has launched today, kicking off the crucial Christmas trading period and piling the pressure on retailers to keep up with online discounting. The Amazon sale, which will see the e-commerce giant slash prices on 13 and 14 October, was postponed from July, bringing it closer to the Black Friday discounting bonanza and [...]
Ikea to buy back used furniture to resell as second hand October 13, 2020 Ikea has launched a scheme to buy back used flatpack furniture to be resold in stores as second hand. The Swedish firm announced this morning that the “Buy Back” initiative is part of its plan to “become a fully circular and climate positive business by 2030”. Customers will be given vouchers to spend in Ikea [...]
French Connection warns of further store closures as sales dive October 13, 2020 French Connection this morning warned of further permanent store closures in the coming months as the high street store reported that sales have plummeted due to the coronavirus pandemic. The struggling retailer, which closed nine stores in the first half, said it continued to target the closure of non-contributing sites and expects to shutter more [...]