Marks & Spencer to axe 7,000 jobs within three months amid pandemic August 18, 2020 Marks & Spencer is set to slash 7,000 jobs by December in a huge restructuring brought about by the pandemic, it said today. The high street giant, which was struggling prior to coronavirus, will focus the cuts in its central support centre, regional management and UK stores. It comes on top of 950 job cuts [...]
Supermarket visits fall on coronavirus face mask rules August 18, 2020 British shoppers paid fewer visits to supermarkets in the wake of new rules making face masks mandatory, new data has revealed. The number of visits to UK supermarkets was 2m lower than expected in the week after the rule was adopted, according to Kantar. Charlotte Scott, Kantar’s consumer insight director, said the decline showed people [...]
Diageo to acquire Ryan Reynolds’ gin brand through Davos Brands deal August 17, 2020 The world’s largest spirits maker Diageo has announced it will buy Ryan Reynolds’ gin brand Aviation American Gin. The company will buy Aviation American Gin, which is co-owned by the Hollywood star, through the acquisition of Aviation Gin and Davos Brands for up to $610m. It will be funded through existing cash and is expected [...]
Coronavirus: Cineworld in legal battle over unpaid lockdown rent August 17, 2020 Cineworld is said to be facing a legal challenge from one of its landlords after the cinema chain failed to pay rent during the coronavirus lockdown. The London-listed cinema group is understood to be withholding rent from property giant AEW after it was hit by closures due to the Covid-19 crisis. AEW has now filed [...]
Tesco introduces free delivery as it prepares to confront Amazon August 16, 2020 Tesco will introduce free delivery in its latest bid to head off Amazon’s attempt to muscle in on the British grocery market. Tesco boss Dave Lewis today told the Sunday Telegraph that the supermarket will add free delivery to its Clubcard Plus loyalty scheme. It comes after the technology giant announced last month it would [...]
Debenhams draws up contingency plans for liquidation August 16, 2020 Debenhams’ owners have begun drawing up plans for the liquidation of the department store, which could threaten thousands of jobs. The retailer is understood to have appointed Hilco Capital, which specialises in restructuring and refinancing firms, as a contingency plan. Hilco’s appointment was first reported by Sky News and was described over the weekend as [...]
Mike Ashley’s Frasers Group bids for DW Sports August 16, 2020 Mike Ashley’s Frasers Group has reportedly made a bid for DW Sports, the sports retail empire of his old rival Dave Whelan which collapsed earlier this month. DW Sports announced it had appointed BDO as its administrator at the start of August. It said it would be winding down its retail business, with its website [...]
What are the new lockdown rules as casinos and theatres prepare to reopen? August 14, 2020 Lockdown rules are set to be eased further across England on Saturday as the country continues to tentatively open back up. Prime Minister Boris Johnson was forced to postpone the latest phase of a recovery on August 1 amid concerns the rate of coronavirus infection had increased slightly. However, data from the Office for National [...]
Coronavirus: Casinos, theatres and bowling alleys welcome lockdown easing August 14, 2020 The UK’s leisure industry got a much-needed boost this morning after the government announced a further easing of lockdown measures. Theatres, music venues and casinos are among the sites that will be allowed to reopen from tomorrow as the final parts of the Covid-19 shutdown are lifted. Sports arenas, bowling alleys, skating rinks and soft [...]
River Island to cut a further 350 jobs in management restructure August 14, 2020 River Island is set to cut up to 350 more jobs in a management shake-up. It comes a month after the high street retailer unveiled plans to let go 250 head office staff as a cost-cutting measure due to the coronavirus pandemic and a significant reduction in footfall. The company is now set to target [...]