Ocado finance chief steps down due to ‘family circumstances’ August 27, 2020 Ocado’s finance chief will step down after eight years with the online supermarket, citing family circumstances as the reason for his departure. Duncan Tatton-Brown, who was appointed as Ocado’s chief financial officer in 2012, will leave the role in November, but will continue as a non-executive director. Tatton-Brown said family circumstances meant that it is [...]
Flutter Entertainment’s profit plunges 70 per cent amid Covid-19 crisis August 27, 2020 Flutter Entertainment, the owner of gambling firms Betfair and Paddy Power, suffered a 70 per cent dive in profit in the first half of the year as major sports events were cancelled due to the coronavirus pandemic. The figures Flutter’s profit before tax plummeted 70 per cent in the first six months of the year, [...]
UK hospitality firms predict 41 per cent drop in summer sales August 27, 2020 UK hospitality firms are predicting a 41 per cent drop in sales over the summer months, although businesses are optimistic that trade will pick up this winter. According to the latest research, six per cent of hospitality and leisure sector companies are confident about growth this summer. However confidence surges in the winter months, with [...]
London landlord Grosvenor pays for tenants to extend Eat Out to Help Out August 26, 2020 West End landlord Grosvenor will pay for its Mayfair and Belgravia tenants to continue to offer half price meals throughout September to boost visitor numbers in central London. The property company said it will fund the £10 discount offer after the government’s Eat Out to Help Out scheme comes to an end on 31 August. [...]
Eat Out to Help Out: What happens when the restaurant discount scheme ends? August 26, 2020 Queues formed outside restaurants and reservations were booked up weeks in advance as Brits ventured out of lockdown to make the most of discounted meals this month. More than 64m meals have been claimed using the government’s offer to cover half the bill during August, with restaurants toasting a much needed pick-up in sales after [...]
DIY firm Screwfix to open 40 new stores and create 400 jobs August 26, 2020 DIY tool firm Screwfix has announced that it will open 40 new stores this year, creating around 400 jobs across the UK and Ireland. The retailer, which is owned by Kingfisher, said that it would open 30 stores in the UK by the end of January, with 300 jobs in retail management, service assistance and [...]
McDonald’s probes potential cover up by disgraced former chief exec August 26, 2020 McDonald’s is reportedly investigating whether its ousted British chief executive Steve Easterbrook covered up misconduct by other employees. The investigation is also probing allegations of wrongdoing within the fast food giant’s human resources department. Easterbrook was fired last November after it was revealed that he had been in a consensual relationship with a colleague that [...]
A dam site better: Craft brewer Beavertown builds new London brewery August 26, 2020 Craft brewer Beavertown is moving production from its Tottenham home, with its new brewery in Enfield allowing it to make enough beer for 90m pints. The expansion to the six-acre plot in Ponders End will lead to 150 new jobs in north london over three years, the craft brewer said. Beavertown, the maker of Gamma [...]
New Look launches restructuring plan to slash rents August 26, 2020 High street retailer New Look has asked landlords to change the way it pays rent on most of its stores in a bid to secure a £40m cash injection. The fashion chain launched a company voluntary arrangement (CVA), which involves resetting 402 stores to turnover rent to align rent payments with future performance. The turnover [...]
More than 64m meals claimed under Eat Out to Help Out scheme August 25, 2020 More than 64m discounted meals have been claimed under the government’s Eat Out to Help Out scheme to encourage diners to visit cafes, pubs and restaurants following the coronavirus lockdown. The jump continues the upward trend, which saw 10.5m meals claimed in the first week that the Eat Out to Help Out Scheme was launched, [...]