Intu boss quits after landlord falls into administration July 3, 2020 The boss of Intu has stepped down a week after the UK’s biggest shopping centre owner went into administration having failed to agree a last minute deal with lenders. Administrator KPMG told staff that Matthew Roberts, who took over the top job last year after nine years as the firm’s finance chief, had quit, Sky [...]
Super Saturday: Pubs to open as London braces for boozing Brits July 3, 2020 Pubs and restaurants up and down the country are preparing to open tomorrow – dubbed Super Saturday – for the first time since lockdown began, as Brits readjust to life under social distancing. Bars and eateries will be allowed to open their doors for the first time using measures such as table service and visitor [...]
FCA to extend coronavirus relief for car finance and high-cost credit July 3, 2020 The Financial Conduct Authority (FCA) has proposed extending coronavirus relief measures for consumers with car financing products or high-cost credit until the end of October. The watchdog this morning set out options for supporting consumers with motor finance or high-cost credit products, such as buy now pay later, rent-to-own or pawnbroking. The FCA first introduced [...]
Land Securities collects majority of rent as dividends set to resume July 3, 2020 Land Securities provided investors with a sigh of relief this morning, as it said it intends to begin paying dividends again later this year after a positive uptick in revenue. The property developer said 60 per cent of the net rent due on 24 June was paid to it within five working days, compared to [...]
UK consumer confidence starting to rise as lockdown ends July 3, 2020 UK consumer confidence is slowly beginning to pick up as lockdown restrictions ease, a new survey has found. According to Growth from Knowledge’s fourth flash report, consumer confidence increased three points over the last two weeks to -27. The small rise comes after the index fell to its lowest ever levels of -36 last month. [...]
4 July reopening: Soho to sizzle as street festival kicks off this weekend July 2, 2020 The West End is set to be the epicentre of 4 July reopening revelry this weekend with newly pedestrianised streets heralding what some are calling “The Summer of Soho”. Westminster Council have now confirmed that a number of streets in the famous entertainment district will be closed to motor traffic. That will allow venues to [...]
Primark owner shares surge as traders welcome ‘encouraging’ reopening July 2, 2020 Shares in Primark owner ABF jumped 4.5 per cent this morning after the firm issued a positive trading update over its chances of bouncing back from the coronavirus pandemic. Although group revenue at Associated British Foods (ABF) dropped 39 per cent in the third quarter, led by a collapse in sales at high street fashion [...]
Prezzo taps advisers to oversee sale process July 2, 2020 Italian restaurant chain Prezzo has appointed an advisory firm to explore a sale, as it seeks new funding in order to survive the coronavirus crisis. FRP Advisory has been brought on board to oversee the process and lead an auction of the business, Sky News reported. Prezzo is currently preparing to reopen a number of [...]
Boohoo defends workplace practices after report of sick staff in Leicester July 2, 2020 Boohoo has been forced to issue a statement in defence of its supply chain practices, after a labour group alleged the firm was forcing staff sick with coronavirus to turn up to work. Labour Behind the Label, a campaign group for workers’ rights, said it had received reports of “workers being forced to come into [...]
All Bar One owner Mitchells & Butlers falls to £121m loss during lockdown July 2, 2020 All Bar One owner Mitchells & Butlers said it sank to a £121m pre-tax loss in its half-year ending in April due to lockdown, it said today. The owner of more than 1,700 pubs, bars and restaurants around the UK, Mitchells & Butlers was forced to close all its outlets when lockdown began on 23 [...]