Marston’s cuts 2,150 jobs due to new coronavirus restrictions October 15, 2020 Pub chain Marston’s has put 2,150 jobs at risk of redundancy following the introduction of new three-tier coronavirus restrictions. The government announced the new local lockdown system earlier this week, with most pubs in areas placed in the highest tier of restrictions expected to close. Marston’s said the introduction of the new rules is “hugely [...]
Return of live sport after lockdown pushes Domino’s sales to £342m October 15, 2020 The return of televised live sport after lockdown saw Domino’s sell an extra 600,000 orders in the third quarter, pushing sales to £342.1m. The pizza chain reported an 18.7 per cent jump in UK and Ireland sales for the 13 weeks ended 27 September, with orders also boosted by the increase in UK staycations over [...]
Gambling firms unveil new online games rules as reforms loom October 14, 2020 British gambling firms today unveiled a new code of conduct for the design of online games as they look to tackle problem gambling in the face of looming industry reforms. New measures include slowing down spin speeds on slot machines, banning several controversial game features and improving access to safer gambling information. The Betting and [...]
Retail property values forecast to fall up to 40 per cent due to pandemic October 14, 2020 Retail property values are expected to fall up to 40 per cent over the next year due to the impact of the coronavirus pandemic on the UK high street, according to a survey of investors. Commercial real estate investors are seeking more “pandemic resistant” assets, such as logistics, the analysis found. Research by Duff & [...]
Asos to launch budget brand as 20-somethings face economic impact of Covid-19 October 14, 2020 Asos is planning to launch a budget brand, the fast fashion retailer announced this morning as it warned that its core 20-something audience were vulnerable to losing their jobs during the coronavirus pandemic. The online retail giant said today that the new brand called “As You” will meet the gap in its portfolio for lower-priced [...]
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 [...]