Mr Kipling owner Premier Foods boosts sales as shoppers stockpile sweet treats April 20, 2020 Shares in Premier Foods jumped almost 25 per cent in early trading today after the firm said it had experienced a sharp rise in demand during the coronavirus outbreak. The Mr Kipling maker said it expected sales to rise roughly 3.6 per cent year on year in the fourth quarter and 10.5 per cent in [...]
DFS mulls equity issue to soften impact of extended coronavirus lockdown April 20, 2020 DFS has confirmed it is in the process of negotiating additional funding and is preparing a equity issue in order to cushion the blow of the coronavirus pandemic. The sofa retailer said it was negotiating an additional debt facility of £60-70m with its existing lenders, to supplement the existing bank facility of £250m. Alongside this [...]
UK retail parks fare better in lockdown than high streets and shopping centres April 20, 2020 The number of shoppers visiting the UK’s retail destinations plunged by a record amount last month due to coronavirus, however a surge in supermarket demand helped to shield retail parks. UK retail footfall plummeted 44.7 per cent in March due to the mandatory lockdown which restricted movement and forced all non-essential stores to close. In [...]
Coronavirus hits hospitality: Loan scheme leaves restaurants high and dry April 19, 2020 Ranald MacDonald is Managing Director of Boisdale’s Restaurants In newspapers, so I’m told, a cracking story is known as a “marmalade dropper,” so named because it stops you – and indeed your toast – in your tracks. And that’s exactly what Rishi Sunak’s announcement of a £330bn rescue package for British business to get through [...]
Coronavirus: Debenhams and Arcadia in talks with landlords over store closures April 19, 2020 Major high street retailers including Debenhams and Topshop owner Arcadia are negotiating with landlords over whether stores will reopen after the coronavirus lockdown ends. All non-essential retailers were ordered to close when the government implemented restrictions to slow the spread of coronavirus last month. However, some stores will not reopen when the lockdown is relaxed [...]
Coronavirus: Asda cancels clothing orders with suppliers April 19, 2020 Asda has cancelled around a quarter of clothing orders with suppliers due to plummeting demand during the coronavirus crisis. The supermarket has said it will pay 50 per cent for the completed cancelled orders, rising to 60 per cent for Bangladeshi suppliers. Asda said it will honour more than 75 per cent of its orders [...]
Coronavirus: When are supermarket opening times for NHS and pensioners? April 17, 2020 As the UK heads into lockdown because of the coronavirus outbreak, supermarkets have enforced tighter restrictions and changed opening hours. Prime Minister Boris Johnson yesterday ordered all “non-essential” shops to close, leaving supermarkets one of the few stores to remain open. In recent weeks supermarkets have struggled to keep shelves replenished as consumers embarked on [...]
Uber abandons 2020 guidance amid Covid-19 lockdown April 17, 2020 Uber has withdrawn its 2020 financial guidance and plans to write down around $2bn in investments amid the Covid-19 lockdown. The ride-hailing firm had expected to book adjusted net revenue of up to $17bn and an adjusted loss of between $1.45bn and $1.25bn. But Uber yesterday said Covid-19 made it “impossible” to predict future financial [...]
Coronavirus: The Gym Group and Hollywood Bowl latest to tap investors for cash April 17, 2020 UK businesses are racing to raise equity and shore up their finances during the coronavirus crisis, with The Gym Group and Hollywood Bowl among the latest firms to tap investors for cash. According to research by Peel Hunt, there have been 32 equity raises of at least £5m in the UK since the middle of [...]
CMA provisionally clears Amazon’s £442m Deliveroo investment over coronavirus April 17, 2020 A UK watchdog today provisionally cleared Amazon’s massive £442m investment into Deliveroo due to the risk the food delivery firm faces from coronavirus. The Competition and Markets Authority (CMA) called the situation “wholly unprecedented” but said the cash was “realistically only available from Amazon”. Deliveroo has seen a significant decline in revenues from the UK [...]