MPs probe fast fashion industry after Boohoo’s Leicester factory scandal October 6, 2020 The fast fashion industry will be scrutinised by a committee of MPs in the wake of Boohoo’s Leicester clothing factory scandal, after the government dismissed most of the recommendations of an initial inquiry in 2018. The Environmental Audit Committee (EAC) has today launched a follow-up inquiry into sustainability and working conditions within the fashion industry [...]
Wagamama and Frankie & Benny’s owner TRG sees central London pub and restaurant sales collapse October 6, 2020 Wagamama and Frankie & Benny's owner TRG sees central London pub and restaurant sales collapse
Chanel snaps up Bond Street boutique for £310m October 5, 2020 French luxury fashion brand Chanel has reportedly bought its boutique store on Bond Street for £310m in a vote of confidence for the central London commercial property market. Reports that the designer firm will pay around £70m above the £240m asking price for the property cements Bond Street’s status as a “safe haven”, despite plummeting [...]
Hovis receives takeover offer from Italian firm Newlat Food October 5, 2020 Italian firm Newlat Food has made an offer to buy the maker of Hovis bread from its current owners Premier Foods and US investment firm Gores Group. Newlat, which is the owner of Buitoni pasta, said this morning that the 134-year-old brand has a “great tradition and recognisability in the United Kingdom”. The acquisition would [...]
Major Boohoo shareholders fail to denounce CEO over Leicester factory conditions October 5, 2020 Boohoo’s major shareholders today failed to denounce the fast fashion firm’s bosses following a report into poor working practices at Leicester clothing factories. Leicester West MP Liz Kendall called on investment firms Jupiter, Baillie Gifford and Invesco to remove chief executive John Lyttle and executive chairman Mahmud Kamani following an independent review into working conditions. [...]
Wet weather and 10pm curfew dampens high street footfall recovery October 5, 2020 Retail footfall dropped for the second week in a row as the pub and restaurant curfew and wet weather brought further gloom for the embattled UK high street. Footfall across all retail destinations declined 3.5 per cent last week compared the previous week, dragged down by a 7.1 per cent slump in high street shopper [...]
O2 Arena to resume live events in December with Squeeze gig October 5, 2020 The O2 Arena has announced plans to resume live events for the first time in eight months in December with a gig headlined by 70s rock group Squeeze. The Cool for Cats rockers will play to socially distanced fans on Saturday 5 December in the first concert at the east London venue since it was [...]
High rents force three in four hospitality businesses to consider restructure or insolvency October 5, 2020 73% of London-based hospitality and leisure operators are considering a restructure or insolvency as a result of the economic impact of the ongoing pandemic. Advisory firm Cedar Dean, which surveyed 230 hospitality and leisure businesses with around 2,000 venues across the UK, found that rental obligations are currently the most pressing issue. 86% of London-based [...]
Mulberry swings to full year loss as coronavirus shuts down high street October 5, 2020 Fashion house Mulberry fell to a £14.2m loss in the last financial year, the firm announced today, as the coronavirus pandemic derailed the firm in its final month of trading. The firm said that it had been on course to report a profit for the second half of the year before the virus shut down [...]
Sazka mounts challenge against Camelot to take UK National Lottery licence October 4, 2020 European firm Sazka has mounted a challenge to take the licence to run the UK’s National Lottery from current operator Camelot for the first time since the prize draw’s launch in 1994. Sazka has entered the Gambling Commission’s competition to select an operator to run the National Lottery when Camelot’s licence expires in 2023. The [...]