Thomas Cook: Customers face two-month wait for holiday refunds September 30, 2019 Refunds for package holidays booked with liquidated UK travel giant Thomas Cook could take up to two months to reach customers, the UK’s aviation body warned today. The Civil Aviation Authority (CAA) said that while direct debit customers can expect refunds within two weeks, other people face a wait of up to 60 days. Read [...]
Fashion giant Forever 21 files for bankruptcy September 30, 2019 Forever 21 has filed for Chapter 11 bankruptcy, becoming the latest retail chain to fall victim to challenges on the high street. The global fashion brand has requested court protection from creditors in the US, joining more than 20 other retailers which have filed for bankruptcy in the last two years. Read more: Retail sales [...]
Goals Soccer Centres warns HMRC black hole could be higher than £12m September 30, 2019 Goals Soccer Centres has warned that a black hole in its accounts could be “materially higher” than the £12m it had previously disclosed as it officially de-listed from London’s Aim stock market. The company suspended shares in March after saying its financial results had contained a misdeclaration of VAT, which have raised suspicions of tax [...]
Booze budgets: Brits splash the cash on nights out September 30, 2019 The average amount of money spent on UK nights out has surged in the last year, as boozy Brits refuse to let political uncertainty rain on their parade. Profligate partygoers now spend just over £70 on average during a night out, up more than 25 per cent year-on-year, according to the latest Deltic Night Index. [...]
Philip Green’s Miss Selfridge posts £17.5m loss as sales slump September 29, 2019 Sir Philip Green’s Miss Selfridge chain fell to a loss of £17.5m last year as the retailer suffered a decline in sales and a writedown in the value of loss-making stores. The womenswear chain booked sales of £102m in the year to 1 September 2018, down more than 15 per cent on the previous 12 [...]
Sushi stalwart Itsu posts loss as it eyes expansion in the US September 29, 2019 Sushi chain Itsu fell to a pre-tax loss of £6m last year as stronger sales were offset by expansion in the US. The British food chain, which was founded by Pret a Manger tycoon Julian Metcalfe, pulled in revenue of £116m, up nine per cent on the previous year. Read more: Restaurant insolvencies jump by [...]
Luxury travel firm Secret Escapes snaps up failed rival Laterooms September 29, 2019 Luxury travel agency Secret Escapes has snapped up part of collapsed rival Laterooms as it booked a 66 per cent increase in sales for the year. Read more: Thomas Cook: Travel giant collapsed with a £3.1bn balance sheet deficit The London-headquartered company, which offers deals on holidays and hotels for its members, has acquired the [...]
Taking the shoe shine off: Clarks brought to employment tribunal by boss fired for misconduct September 29, 2019 The former chief executive of iconic British shoe brand Clarks has embarked on a legal battle against the company, claiming he was not given a chance to answer misconduct claims before being ousted. Mike Shearwood will allege at an employment tribunal, starting tomorrow in Bristol, that he was given a list of allegations at a [...]
Peloton shares sink on second day of trading September 27, 2019 Shares in fitness start-up Peloton sank a further four per cent today after making a disappointing stock market debut yesterday. Peloton shares were initially priced at $29 when the company listed in New York yesterday morning, but closed more than 11 per cent down at $25.75. Read more: Peloton prices float at $29 per share [...]
Jacques and the bean hoax: French firm fined over veg cartel September 27, 2019 A French and a Dutch company have been fined nearly €32m (£28m) for a 13-year cartel which pushed up the price of green beans, peas and canned vegetables. The European Commission said it was charging France’s Cecab €18m, while Coroos, a Dutch company, will have to pay €13.6m for taking part in the cartel. Read [...]