Monsoon and Accessorize owner enters the red as sales slip May 27, 2025 The owner of Monsoon and Accessorize slumped into the red as its sales were slashed during its latest financial year, it has been revealed. Adena Brands, which is owned by Peter Simon, has reported a pre-tax loss of £7.5m for the 12 months to 31 August, 2024. The loss comes after the group posted a [...]
Britain’s start-ups reeling from economic pressure May 27, 2025 Start-up businesses are feeling the sting of an uncertain economic landscape as fresh research shows new firms are employing fewer staff than ever before. The average number of staff for a new firm had slumped to 2.64, down from 3.5 in 2017 according to Cynergy Bank’s latest Business Births and Deaths Index. The research, which [...]
Travelodge in the red amid Reeves’ £21m tax hikes May 22, 2025 Travelodge has fallen to a loss during the first three months of its financial year as it battles the tax hikes announced by Chancellor Rachel Reeves in her Autumn Budget which will cost the hotel chain more than £20m this year. The company confirmed last year that the rise in the National Living Wage will cost [...]
Seabrook: Crisps brand issues warning over Rachel Reeves’ tax hikes May 22, 2025 The company behind crisps brand Seabrook has warned Chancellor Rachel Reeves’ Autumn Budget tax hikes will have an impact on its bottom line this year. The Cheshire-based UK arm of Japanese giant Calbee pointed to the increase in the National Living Wage and employers’ National Insurance contributions, which came into affect in April, as key [...]
Rachel Reeves’ tax hikes to cost Timpson £12m extra a year May 16, 2025 Chancellor Rachel Reeves’ Autumn Budget tax hikes are set to cost the business empire of fellow government minister Lord James Timpson £12m extra a year, it has been revealed. The Manchester-headquartered group said the increases in employer’s National Insurance contributions and the National Living Wage will eat into its earnings in the years to come. [...]
Top private school warns Reeves’ ‘unwelcome’ tax hikes will cost millions May 13, 2025 One of the top private schools in the UK is “taking stock” as it warns Chancellor Rachel Reeves’ tax hikes will cost it millions. Gresham’s School, whose former students include Sir James Dyson – who donated £35m in 2023 – added it will have to now take action to make sure it “does not become [...]
Quooker: Labour’s policies are hitting our growth May 12, 2025 The boss of instant hot water tap brand Quooker has branded the Labour government “less helpful than helpful” as its decisions are dampening confidence and curtailing investment. UK managing director Stephen Johnson has revealed that rising costs, low consumer confidence and a shrinking kitchen market are making expansion increasingly difficult despite Quooker seeing another 10 [...]
Ray-Ban owner issues warning after UK sales fall May 9, 2025 The owner of Ray-Ban has issued a warning over its performance this year after its UK sales and profit fell in 2024. The UK arm of Luxottica Group said the increase in the cost of goods and services is expected to negatively impact its gross and operating profit this year. The group added that the [...]
Rachel Reeves’ tax hikes will cost me £1m – Hooch tycoon March 31, 2025 The founder of the alcoholic drinks empire behind the likes of Hooch and VK has warned the tax hikes announced by Rachel Reeves will cost him an extra £1m. Steve Perez, the boss of Derbyshire-headquartered Global Brands, added that the Chancellor has “stacked the odds” against businesses like his and that he has “no choice” [...]
Lord Andrew Lloyd Webber’s theatre empire braced for Reeves’ tax hike March 18, 2025 Lord Andrew Lloyd Webber’s theatre empire has warned it is bracing for the “notable impact” the hike in employer’s National Insurance contributions (NICs) when it comes into force next month. Chancellor Rachel Reeves announced in her Budget in October 2024 that NICs would rise by 1.2 per cent from April to 15 per cent in [...]