Coronavirus: Gourmet Burger Kitchen and Ask Italian owner Azzurri appoint advisers April 23, 2020 Casual dining chains Gourmet Burger Kitchen (GBK) and Azzurri, the owner of Ask Italian and Zizzi, have both appointed advisers amid the coronavirus pandemic. Restaurants have been severely impacted by the coronavirus outbreak and subsequent lockdown, which has resulted in an unprecedented drop in revenue. GBK has appointed Deloitte to advise on future options for [...]
More than 1m hospitality jobs at risk without extra government support, industry warns April 23, 2020 More than 1m hospitality jobs could be lost if coronavirus social distancing measures are extended without extra government support for the sector, the industry has warned. UK Hospitality has written to Cabinet Office minister Michael Gove to urge for more support for the country’s pubs, bars and restaurants amid concerns that social distancing measures could [...]
Unilever withdraws outlook after coronavirus hits sales April 23, 2020 Unilever has withdrawn its outlook for the year after reporting sales were flat in the first quarter, despite an increase in demand for hygiene and in-home food products. Underlying sales growth was flat with 0.2 per cent from volume and negative 0.2 per cent from price. Turnover increased 0.2 per cent to €12.4bn. The coronavirus [...]
CMA clears £6.2bn Just Eat Takeaway merger April 23, 2020 Just Eat and Takeaway.com received the green light to complete their £6.2bn merger today. UK watchdog t he Competition and Markets Authority (CMA) found the tie-up would not lessen competition in the food delivery space. The CMA said it was “satsified there are no competition concerns”. Takeaway.com fought off a rival bid from Dutch rival [...]
Hiscox faces legal action over coronavirus business interruption claims April 22, 2020 The Night Time Industries Association, which represents bars and clubs across the UK, has launched legal action against Hiscox, alleging the insurer has refused to pay out for claims during the coronavirus pandemic. The organisation is arranging class action against the insurer, which it said has denied liability under its business interruption policy. All night [...]
Gordon Brothers buys Laura Ashley brand and archives April 22, 2020 Gordon Brothers has bought the Laura Ashley brand out of administration, however the future of its 147 high street stores is still undecided. The clothing and home retailer’s archives and intellectual property were also included in the deal, the US advisory firm announced today. Gordon Brothers said it will partner with the existing management team [...]
Coronavirus: Moss Bros shares dive as bidder looks for exit April 22, 2020 Shares in Moss Bros plunged more than 20 per cent today after the menswear firm said Brigadier Acquisition Company was seeking to pull out of a £22m deal to take it private due to coronavirus. The suit retailer said this morning that it had been informed by Brigadier, which owns Crew Clothing, that it is [...]
Consumers ‘uncomfortable’ returning to pubs and restaurants after coronavirus lockdown April 22, 2020 The hospitality industry could continue to struggle when venues are allowed to reopen after the UK coronavirus lockdown, as the latest research showed customers are nervous about returning to pubs, bars and restaurants. All hospitality and leisures businesses were ordered to close when the government announced the UK coronavirus lockdown on 23 March, and pubs, [...]
Heineken cuts costs as beer sales slide 14 per cent April 22, 2020 Heineken has reported a 14 per cent drop in beer sales in March, and predicts the situation will worsen in the months to come. The brewer has suffered sharp declines in all regions as coronavirus restrictions close pubs and restaurants. In South Africa Heineken was forced to shut down production entirely. With pubs closed, Heineken [...]
Boohoo suffers coronavirus sales hit after bumper year April 22, 2020 Boohoo Group today posted a huge surge in revenue and profit for the full year but warned the outbreak of coronavirus had hit growth in March. The figures Boohoo’s revenue rose 44 per cent to £1.2bn in the year to the end of February 2020. Pre-tax profit jumped 54 per cent to £92.2m. Net cash [...]