New ‘super fast’ economic indicators suggest UK economy slowdown April 15, 2019 New “super fast” government economic indicators suggested the UK economy lost momentum in March, with more firms reporting a fall in turnover than an increase. Read more: UK stats body to receive £9m for 'super fast' economic indicators Today saw the first release of a range of faster indicators compiled by the Office for National Statistics [...]
Retail and casual dining bounce back in March amid sunny spring weather April 15, 2019 Britain's pubs and restaurants cheered a recovery in trading last month, as warmer weather boosted the nation’s appetite for drinking and eating out. A bounceback from cold, snowy weather last year saw collective like-for-like sales in restaurants and pubs grow by nearly four per cent in March, new data released today by the Coffer Peach [...]
Activist investors turn their backs on troubled retailers April 15, 2019 While activist investors are known for their interest in underperforming businesses, there is one sector in the UK so troubled that even opportunistic shareholders are now turning their backs: high street retailers. Such are the difficulties facing Britain’s bricks-and-mortar retail giants that many have become "too distressed to attract activist interest", according to a new [...]
Retail veteran Terry Duddy set to replace Bucher as Debenhams boss April 14, 2019 Retail veteran Terry Duddy is being lined up to take over as chief executive of department store chain Debenhams as administrators pin their hopes on the troubled firm’s interim chairman to lead a major restructuring plan. Read more: Revealed: All 15 LK Bennett stores set to close in Chinese sale Current chief executive Sergio Bucher is [...]
Online grocery shopping growth stalls amid consumer frustration April 13, 2019 New research has revealed that online grocery is set to grow more slowly as customers concerns over order issues and delivery charges rise. In 2018 just 45 per cent of consumers said they did grocery shopping online, four per cent down on 2016, according to research from analysts Mintel. Read more: Revealed: All 15 LK [...]
And the best restaurant award goes to… Nando’s? April 12, 2019 A local award meant to recognise business on Preston's high street drew criticism after Nandos' was named the city centre's best restaurant. The Smiles Better Awards, running annually since 2016, are organised by the Preston Business Improvement District (Bid) and sponsored by the NWL Chamber of Commerce. Awards are given following a public vote, which [...]
LK Bennett to close 15 stores and shed 110 employees after Chinese partner buys retailer April 12, 2019 LK Bennett is set to close 15 of its 36 stores throughout the UK and Ireland, making more than 100 employees redundant in the process, after the womenswear retailer was bought by its Chinese partner. Read more: Bonmarche fights back against Philip Day's £5.7m takeover bid The sale of the company was completed late on [...]
Games Workshop shares jump as Warhammer creator predicts rising profits April 12, 2019 Games Workshop’s shares climbed steeply today following a forecast of rising profits after a strong start to the year. Read more: Games Workshop enjoys record year as business remains 'in great shape' In a trading statement the games and figurine company said it expected profit before tax for the year ending 2 June to be [...]
Competition watchdog expresses concern over Rentokil and Mitie merger April 12, 2019 The UK's Competition and Markets Authority (CMA) has warned Rentokil Initial it may have to investigate the company after its completed takeover of Mitie's pest control arm has severely reduced competition in the sector. The competition watchdog has given Rentokil a deadline of April 23 to outline how it will address concerns that prices could [...]
Bonmarche fights back against Philip Day’s £5.7m takeover bid April 12, 2019 Bonmarche today hit back at a cut-price takeover bid from entrepreneur Philip Day, saying it “materially undervalues” the struggling retailer’s future prospects. The French-themed fashion chain urged shareholders to take no action on the 11.445p-per-share offer from Day’s Dubai-registered Spectre Group. Read more: Bonmarche jobs and stores set to go in cut-price rescue deal The [...]