UK retail sales fall in November but online shopping booms, survey shows November 24, 2020 Overall UK retail sales dropped in November but online shopping boomed as the England-wide lockdown forced customers to change their habits, a new survey has shown. The CBI’s monthly retail survey showed that sales fell in November year on year at a similar pace to the drop in October. The sales gauge came in at [...]
JD Sports in exclusive talks with Debenhams to buy department store November 24, 2020 JD Sports is in exclusive talks with Debenhams that would see the troubled department chain acquired by the sportswear business, according to reports. Debenhams fell into administration in April for the second time. The coronavirus has hit the destitute department store hard, with stores closed and thousands of jobs axed due to the virus. According [...]
Covid-19 leaves bad taste at Greencore as firm seeks £90m to shore up against virus costs November 24, 2020 Food producer Greencore is targeting a £90m equity placing to mitigate the cost of Covid-19 to the business, after the group’s pre-tax profits stood at £17.3m - down 81 per cent on 2019.
Compass Group returns to profit in Q4 following ‘challenging year’ November 24, 2020 Compass Group has made an operating profit of £561m in 2020 after a difficult year that saw parts of the business closed due to the coronavirus pandemic. The catering giant 2020 operating profit was down on last year’s £1,852m. Nearly two-thirds of Compass Group’s revenue came from north America. The group was able to return [...]
The good, the bad, and the orange: In search of the perfect 2020 Christmas ad November 24, 2020 To call 2020 a “garbage fire” of a year would not be unfair. This year has turned people’s worlds upside-down in so many ways. But at least a few things remain a constant presence in life — one of which is the return of the blockbuster Christmas TV advert. While the advertising budgets look a [...]
Curfew to be pushed back to 11pm but pubs warn restrictions will ‘destroy’ sector November 23, 2020 The Prime Minister has confirmed that the curfew for pubs and restaurants will be pushed back to 11pm when the coronavirus lockdown ends next month, but the hospitality industry has slammed new restrictions as “disastrous” for the sector. In a statement to Parliament this afternoon, Boris Johnson announced that the lockdown will be lifted on [...]
Healthy fast food chain Leon explores restructuring options November 23, 2020 Healthy fast food chain Leon is reportedly drawing up plans for an insolvency arrangement to allow it to secure rent cuts from its landlords. The firm is working on proposals for a company voluntary arrangement, and has hired advisors to help with the plans, Sky News reported. The proposals, which are likely to involve seeking [...]
Retailers ‘relieved’ as shops get green light to open before Christmas November 23, 2020 The Prime Minister has announced that non-essential stores in England can reopen next month, in what retailers hope will provide a lifeline for the high street in the run-up to Christmas. In a statement in the House of Commons this afternoon, Boris Johnson confirmed that stores that were forced to close during the coronavirus lockdown [...]
Coronavirus lockdown: Central London retail footfall plunges 80 per cent November 23, 2020 Central London retail footfall fell 80.4 per cent last week compared to 2019 levels as the England-wide coronavirus lockdown continued to take its toll on the nation’s struggling high streets. The latest data showed that the capital was the worst affected region due to the impact of home-working, the lack of domestic and international tourists [...]
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 [...]