John Lewis could permanently close some stores when coronavirus lockdown ends April 27, 2020 John Lewis is reportedly considering permanently closing some department stores after the UK’s coronavirus lockdown restrictions are lifted. All John Lewis department stores closed last month after the government ordered all non-essential retailers to shut during the coronavirus lockdown. However, some of the less viable John Lewis stores could remain shut after the lockdown restrictions [...]
Coronavirus: Greggs to start reopening branches for takeaway and delivery April 27, 2020 High street bakery chain Greggs is preparing to reopen to provide a takeaway service during the coronavirus lockdown. All of the cafe chain’s stores are currently closed due to the UK’s coronavirus lockdown. However, the government restrictions allow cafes and restaurants to remain open for takeaway and delivery services. The company said it will trial [...]
Holiday Inn owner IHG secures £600m coronavirus loan April 27, 2020 Holiday Inn owner Intercontinental Hotels (IHG) has secured a £600m loan under the government’s coronavirus financial support scheme, the company announced this morning. IHG’s share price jumped 4.85 per cent this morning after the hotel operator said it now had $2bn in liquidity, after it also amended its credit facility to include a waiver of [...]
Coronavirus: Adidas forecasts 40 per cent drop in sales in second quarter April 27, 2020 Sportswear giant Adidas expects sales to plummet 40 per cent in the second quarter due to the impact of coronavirus lockdowns around the world. The German brand reported a 19 per cent decline in sales in the first quarter, but this morning said it forecast lower sales over the second quarter of the year. Coronavirus [...]
Retailers call on government to withdraw ‘disastrous’ business rates bill April 27, 2020 A coalition of retail organisations today called on the government to ditch a business rates bill they say would be “disastrous”for the high street. The Non-Domestic Rating (Lists) Bill brings forwards the next revelation of business rates for 2.08m non-domestic properties in England and Wales to 1 April 2021. If the bill receives asset, it [...]
Coronavirus: Sainsbury’s to extend supermarket opening hours from Monday April 24, 2020 Sainsbury’s will extend its supermarket opening hours from Monday in a bid to keep its staff and customers safe from coronavirus. It is one of a number of measures boss Mike Coupe announced yesterday to help Sainsbury’s cope with increased demand. Currently Sainsbury’s is open from 7:30am to 8am Monday to Saturday for NHS workers. [...]
Burberry to keep paying furloughed staff during Covid-19 crisis April 24, 2020 Burberry today said it will keep paying employees who are unable to work because of store or site closures during the coronavirus crisis. The luxury brand said it would not make use of the government’s furlough scheme — which pays 80 per cent of salaries for non-working staff — for jobs in the UK, where [...]
Mike Ashley’s Frasers Group misses out on coronavirus loan, settles Belgian tax bill April 24, 2020 Mike Ashley’s Frasers Group’s application for a coronavirus loan has been rejected, it admitted today, as it finally settled a €674m (£588m) Belgian tax bill. Frasers Group (formerly Sports Direct) saw it application for a government bridging loan denied, sending shares down 2.4 per cent. The Covid Corporate Financing Facility (CCFF) scheme is open to [...]
UK retail sales ‘obliterated’ in record fall over coronavirus April 24, 2020 UK retail sales plunged by their biggest fall on record in March, official data showed today as retailers counted the cost of the coronavirus lockdown. While food sales surged, overall UK retail sales plummeted 5.1 per cent last month compared to February, according to the Office for National Statistics (ONS). That was much bigger than [...]
Commercial landlords banned from using ‘aggressive’ rent collection tactics April 23, 2020 UK shops, restaurants and pubs will be protected against aggressive rent recovery action during the coronavirus crisis after the government issued new rules for commercial landlords. The government has temporarily banned the use of statutory demands and winding up orders until at least June following pressure from the retail and hospitality sectors. Many retail, hospitality [...]