Ticketmaster sparks controversy with coronavirus refund policy April 14, 2020 Furious fans have hit out at Ticketmaster after the website seemingly changed its refund policy to only cover events that have been cancelled due to coronavirus. The ticketing site previously allowed customers to claim a refund if an event had been cancelled, postponed or rescheduled. But Ticketmaster appears to have quietly altered its terms to [...]
Moss Bros delays full-year results amid coronavirus crisis April 14, 2020 Menswear retailer Moss Bros has delayed the publication of its full year results due to the coronavirus pandemic. The company announced this morning that it will postpone its financial results for the year ending 25 January until late July. It had previously planned to publish its accounts in late May. Financial regulators said last month [...]
Next resumes online trading after increasing coronavirus safety measures April 14, 2020 Fashion retailer Next has reopened its online shop after implementing new measures to make its warehouse operations safer for workers during the coronavirus crisis. The company has limited the number of online sales it will take each day, in order to reduce the number of workers needed to process orders. Next has already reached the [...]
Revolution Bars shares jump on coronavirus debt facility extension April 14, 2020 Shares in Revolution Bars jumped more than 14 per cent this morning as the bar chain announced an extension to its borrowing limits during the coronavirus pandemic. The company, which has furloughed 98 per cent of its workforce, also announced that its chief executive, finance chief and non-executive directors will take a 50 per cent [...]
Businesses still waiting on £10bn of coronavirus grants April 13, 2020 Thousands of UK businesses are still waiting for £10bn of government grants to be handed over as calls grow louder for the Treasury to expand its set of coronavirus relief measures. Figures from the Local Government Authority show that £1bn of grants have been awarded to 100,000 small businesses, but that many more are still [...]
Coronavirus: Calls for price controls dismissed as ‘economically illiterate’ April 10, 2020 Economists have hit back at Which? after the consumer watchdog said that the government should enforce price controls on certain items to prevent so-called “price gouging” during the coronavirus pandemic. The calls came after the consumer group said it had found that items such as handwash, cleaning products, and baby formula were selling at vastly [...]
Coronavirus: UK consumers ease up on stockpiling in run up to Easter April 10, 2020 UK consumers spent an additional £83m on groceries last week, but sales are down by 2.6 per cent compared to the same period in 2019, suggesting the nation has eased up on stockpiling. Grocery sales in the UK have increased significantly over the past weeks, as a result of stockpiling, amid health fears around the [...]
Cross-sector expert group offers free mentoring for businesses facing coronavirus crisis April 9, 2020 Experts across all sectors, including retail, hospitality and tech, have teamed up to provide mentoring for company founders and chief executives affected by the outbreak of coronavirus. The All Together scheme includes Martin Williams, the chief executive of Gaucho and M Restaurant brands, Innocent Drinks co-founder Jon Wright and ex-Flying Tiger chief executive Xavier Vidal. [...]
Coronavirus: Half of major UK retailers ‘could run out of cash’ as sales dive April 9, 2020 More than half of the UK’s major non-food retailers will run out of cash if the government’s coronavirus lockdown continues into the summer, as research found that sales have plunged 70 per cent. A new report by restructuring firm Alvarez & Marsal (A&M) and Retail Economics found that the UK’s biggest retailers will deplete their [...]
Debenhams to permanently close Irish stores after appointing administrators April 9, 2020 Department store chain Debenhams has fallen into administration and announced that it will permanently close its stores in Ireland. Debenhams has appointed FRP Advisory as administrators in the UK in a move that it said will protect the high street chain from legal action. The retailer said it could have faced liquidation while its 142 [...]