Luke Johnson: 1m employees on furlough face redundancy September 23, 2020 Former Pizza Express boss Luke Johnson has warned that at least a million jobs could be lost in the hospitality industry as the government tightens restrictions. Speaking to BBC Newsnight, the restaurant mogul predicted that if the government cut all subsidies, “of the 3m [on furlough] at least a million, maybe more, will be made [...]
Ralph Lauren to cut 15 per cent of global workforce September 22, 2020 Fashion magnate Ralph Lauren has said it will cut around 15 per cent of its global workforce, as it seeks to recover costs and streamlines its offering to focus more on digital channels. The cuts, which will take place by the end of this fiscal year, could affect up to 3,700 jobs. The layoffs could [...]
Night-time businesses slam 10pm curfew as ‘devastating’ September 22, 2020 Businesses in the UK’s night-time economy have slammed the Prime Minister’s announcement of a 10pm curfew on venues for up to six months as “devastating”, and warned that it will lead to wide-scale business collapse and unemployment. Boris Johnson today announced a 10pm curfew on all hospitality and leisure venues in England in a bid [...]
Business groups call for further support as UK tightens restrictions September 22, 2020 The government must set out a new support package as new restrictions threaten to derail the economic recovery, business groups have warned. Addressing the House of Commons today, Boris Johnson dealt a devastating blow to the hospitality sector as he unveiled plans for a 10pm curfew. And as he warned of a second wave of [...]
Kingfisher profit jumps as online sales rise during lockdown September 22, 2020 B&Q-owner Kingfisher increased its pre-tax profit by 62.4 per cent in the first half of the year as a strong second quarter and online sales growth boosted the retail group. The FTSE 100 firm also said it had seen “an encouraging start to the second half of the year”. It said like-for-like sales were up [...]
Private equity firm Lone Star quits race to buy Asda September 22, 2020 US private equity firm Lone Star Funds has abandoned the bidding war over British supermarket giant Asda, leaving rival asset manager Apollo as its likely suitor. The two private equity firms entered a showdown for the UK’s third-biggest grocery chain last month, after US owner Walmart opened bidding for a majority stake in Asda. The [...]
JD Wetherspoon to cut 450 jobs at airport pubs September 22, 2020 JD Wetherspoon today said it will cut roughly 450 jobs from six of its airport pubs due to the ongoing impact of the coronavirus pandemic. The job cuts will impact staff at the chain’s pubs at Gatwick, Heathrow, Stansted, Birmingham, Edinburgh and Glasgow airports. In a letter to staff, seen by PA, the budget boozer [...]
Coronavirus: Premier Inn owner Whitbread to axe up to 6,000 jobs September 22, 2020 The owner of hotel chain Premier Inn has announced plans to cut up to 6,000 jobs as the coronavirus outbreak continues to ravage the hospitality industry. Whitbread, which also owns the Beefeater and Brewers Fayre restaurant chains, said the figure represents 18 per cent of its total workforce. The FTSE 100-listed firm said the cuts [...]
Debate: Has pandemic-induced online shopping killed the high street for good? September 22, 2020 The coronavirus lockdown in March forced the vast majority of high street shops to close their doors, at least temporarily. In turn, online shopping became the new normal for UK consumers. And even as the country eased out of lockdown, many have stuck with the habit. In fact, a recent survey found that two in [...]
Pubs to shut at 10pm under new restrictions September 21, 2020 Boris Johnson will tomorrow announce that pubs in England will have to shut at 10pm in an attempt to limit the spread of coronavirus, it was reported this afternoon. The new restrictions are set to be introduced amid warnings that there could be as many as 50,000 cases a day in the UK by mid [...]