Prices fall as retailers ramp up discounting to entice shoppers September 2, 2020 Shop prices fell in August as retailers continued to offer discounts in a bid to entice shoppers back onto high streets. Prices fell 1.6 per cent last month, compared to a drop of 1.3 per cent in July, driven by a decline in non-food prices which were down 3.4 per cent. Retailers have slashed prices [...]
Central London dry cleaning firms struggle as workers stay at home September 1, 2020 London’s dry cleaning firms could be the next casualty of the coronavirus crisis as workers continue to stay away from city centres, the industry has warned. A sustained drop in the number of office workers and tourists visiting central London could put many dry cleaning businesses at risk of closure. The government has launched a [...]
Debenhams sets bidding deadline for potential buyers September 1, 2020 Struggling department store chain Debenhams has set a deadline for potential buyers to make offers for the company today as it seeks to avoid further closures and job losses. Investment bank Lazard, which is overseeing the sales process, has set a deadline of 5pm this afternoon, Sky News reported. Debenhams recently entered administration for the [...]
Retail footfall jumps as consumers get their fill of Eat Out to Help Out scheme September 1, 2020 Footfall across the UK’s retail destinations rose six per cent last week as consumers rushed to take advantage of the last full week of the Eat Out to Help Out initiative. According to retail analysts Springboard, footfall increased across all three types of shopping destination, giving the sector its best week since the end of [...]
Sweet treats: Cake Box to repay furlough money after rise in sales September 1, 2020 Cake Box today said it will repay the money it received under the government’s coronavirus furlough scheme and pay a special dividend after posting a sharp rise in sales in the last three months. The cream cake specialist said it would hand back £156,000 it had secured and would make no further claims under the [...]
Dunelm reports post-lockdown sales boom on pent-up demand September 1, 2020 Dunelm today said its sales jumped in July and August as pent-up demand helped boost revenue following the coronavirus lockdown. The furnishings retailer reported year-on-year sales growth of 59 per cent in July and 24 per cent in August. The Leicestershire-based firm said the rise was due to pent-up demand following store closures, as well [...]
Plastic carrier bag charge to double from April August 31, 2020 The price of plastic carrier bags will double from next Spring and extend to all shops in England, as the government ramps up its efforts against plastic pollution. The charge for single-use carrier bags will increase from 5p to 10p and small retailers – those employing 250 people or fewer – will no longer be [...]
Former Saga chief to return and invest £100m as part of equity raise plans August 30, 2020 Saga, the over-50s travel and insurance specialist, will welcome back former chief executive and chairman Roger de Haan as part of plans to raise £150m in fresh capital. De Haan sold Saga for £1.3bn in 2004 to private equity group Charterhouse. He will inject up to £100m into the company as part of the equity [...]
Moss Bros calls on KPMG to help with restructuring plans August 30, 2020 Menswear retailer Moss Bros is heading towards a restructuring that could result in the closure of some of its stores and rent reductions on others. Moss Bros has reportedly called in KPMG, according to the Sunday Times, which could pave the way for a company voluntary arrangement (CVA). A CVA allows companies to settle debts [...]
The nation’s health is priority number one, but we must continue the great work we’ve done to reduce plastics use August 28, 2020 Recent government figures revealed that since the introduction of the 5p carrier bag charge, new carrier bag sales have fallen by 59 per cent in the past year in England’s major supermarkets. This translates to shoppers buying, on average, just four new bags per year compared to 10 the previous year. This is a significant [...]