Hovis owners set to sell bread brand for up to £150m June 9, 2020 Hovis could reportedly be sold for as much as £150m as its owners look to offload the business later this year. The brand’s biggest shareholder The Gores Group, has hired bankers to sell its controlling 51 per cent stake which it acquired six years ago, according to Sky News. The investment firm is understood to [...]
Hospitality industry asks government for financial support to overcome rent deadlock June 9, 2020 The hospitality industry has warned there will be significant job losses and business failures unless the government provides financial support to overcome the rent stand-off between landlords and tenants. Trade body UK Hospitality has said that a continued “stalemate” between landlords and tenants on the matter of unpaid rent needs to be resolved or reopening [...]
Theme parks set to open before schools June 9, 2020 Legoland, Thorpe Park, Alton Towers and Chessington World of Adventures are set to open next month, ahead of schools in England. The four theme parks, which are all owned by Merlin Entertainment, plan to open their doors to the public on 4 July after months of closure due to the coronavirus crisis. Today, the government [...]
Three more Debenhams stores to stay closed when lockdown eases next week, bringing total to 20 June 9, 2020 Debenhams will not reopen three more stores when lockdown restrictions on retailers are eased next week, in a move that will cost around 300 jobs. The news brings the tally of Debenhams outlets that will stay closed next week to 20. It comes after the retailer failed to agree terms with the landlord, embattled shopping [...]
Founders and chief executive buy back control of supermarket giant Iceland June 9, 2020 The founding family and boss of Iceland Foods have teamed up to take back full control of the supermarket’s shares, following the chain’s revenue boom amid the coronavirus pandemic. Chief executive Tarsem Dhaliwal and founder Malcolm Walker have today bought out South African investment firm Brait’s 63.1 per cent stake in Iceland for £115m, making [...]
Retailers suffer ‘another month of struggle’ in May amid coronavirus lockdown June 9, 2020 Retailers endured a second consecutive monthly drop in sales in May, as the high street continued to suffer from the effects of the coronavirus lockdown. The British Retail Consortium (BRC) said sales fell 5.9 per cent last month compared to May 2019. The monthly health check found record growth in online sales, as retailers continued [...]
DEBATE: Is the proposal to suspend Sunday trading laws misguided? June 9, 2020 Is the proposal to suspend Sunday trading laws for a year misguided? Rachael Maskell, Labour MP for York Central, says YES. Shop workers have been at the forefront of responding to our needs during this crisis. They immediately stepped up to meet the demands in their communities to ensure that everyone was able to receive [...]
Coronavirus: Cabinet ministers ‘push to cut two metre social distancing rule’ June 9, 2020 A majority of Boris Johnson’s cabinet ministers are said to be putting pressure on Downing Street to relax the two-metre social distancing rule to contain coronavirus. The Prime Minister, who will chair a cabinet meeting today, is thought to be sympathetic to calls to dispense with the two-metre rule, amid a clamour from the hospitality [...]
BAT warns of coronavirus pandemic revenue blow June 9, 2020 British American Tobacco (BAT) reduced its full-year revenue forecast today as a result of coronavirus, predicting a three per cent hit from the pandemic. The cigarette giant said it now expects revenue growth of between one and three per cent in 2020, compared to growth in the low end of a previous prediction of three [...]
British public support scrapping Sunday trading laws, says new poll June 8, 2020 The government’s plan to allow super markets in England and Wales to open for longer on Sundays has the public’s backing, according to new polling. A YouGov poll released today showed that 48 per cent of people supported the change, with 31 per cent opposing and 21 per cent unsure. Boris Johnson is poised to [...]