Central London footfall growth behind other regional cities February 14, 2022 Central London footfall has lagged behind the recovery of other regional cities last week. According to the latest data from Springboard, footfall rose in all types of town centres in the UK last week. However, while regional cities outside of London saw the largest boost, up 7.1 per cent, Central London growth was only 3.3 [...]
Studio Retail Group preparing to call in administrators in blow for largest shareholder Mike Ashley’s Fraser Group February 14, 2022 Online value retailer Studio Retail Group, whose largest shareholder is Mike Ashley’s Frasers Group, is posed to call in administrators. The Accrington-based firm said it had not been able to reach agreement with its UK lenders for additional funding it needed. Studio Retail had requested a short-term loan of £25m to fund surplus stockholding which [...]
‘Culture change’ on London building fire safety needed as Mayor launches guidance for developers February 14, 2022 The Mayor of London has launched a public consultation on draft guidance for fire safety standards for new developments. Sadiq Khan has echoed campaigners’ criticisms of existing national building regulations, dubbing them as unfit for purpose. He said the pace of reforms has not been quick enough. The draft Fire Safety London Plan guidance sets [...]
Farming boss warns Russia Ukraine tensions threaten UK food supplies February 14, 2022 Farmers have warned the UK’s food supply could be affected by tensions in Russia and Ukraine, with soaring costs hitting firms. Speaking to The Independent, Minette Batters, president of the National Farmers’ Union (NFU), warned that the two countries supply just under one third of global wheat exports. Farmers have faced spiralling costs after a [...]
Redcentric looks forward after FCA prosecutes former finance chief for misleading investors February 14, 2022 IT services provider Redcentric has said it hopes to move on following the prosecution of a former top dog for misleading investors. A case led by the financial regulator culminated in the company’s former chief financial officer, Timothy Coleman, being found guilty of four charges relating to the making of false and misleading statements to [...]
Cake decorations maker Real Good Food cites ‘severe shortages’ for dampened sales February 14, 2022 Ingredients supplier Real Good Food has blamed the Omicron Covid surge for “lower than anticipated” sales earlier this year. In results for the financial year ended 31 March 2022, the cake decorations maker said its expectations for the second-half were dashed by a sales slump. The London-based firm said its ability to fulfil customer orders [...]
Retailers slash ties with unethical suppliers to tune of £7.1bn in cancelled contracts February 10, 2022 Retailers severed ties with suppliers who did not meet ethical standards to the tune of £7.1bn in cancelled contracts last year. Research published today from Barclays Corporate Banking has highlighted that one in five UK retailers distanced themselves from suppliers who did not meet sustainability or ethics standards. Of those who did slash ties, an [...]
London drives hotel investment as confidence in sector returns in absence of Covid restrictions February 10, 2022 Some £4bn was pumped into the UK hotel market last year, as the sector eyes the easing of Covid travel restrictions. Investors continued to boost the country’s hotels despite Covid uncertainties, thanks to an improvement in the visibility for future trading, according to research from property adviser Knight Frank. Hotel transaction volumes in the capital [...]
Gym firm backed by Rishi Sunak’s wife to call in administrators February 10, 2022 Administrators are to be called in for the gym chain backed by Rishi Sunak’s wife. Digme Fitness was hammered by Covid measures, which saw gym goers turn away from the business’s London sites. Digme Fitness, which was founded by a former City lawyer, has eight gyms, including those dotted around the Square Mile, including near [...]
Coca-Cola Co revenue exceeds estimations after soft drink price hikes February 10, 2022 Beverage giant Coca-Cola Co’s quarterly revenue has surpassed estimates, thanks to higher prices for soft drinks. The soft drink maker also credited the easing of Covid restrictions as theatres and restaurants reopened, boosting sales. It said adjusted revenue hit $9.47bn in the fourth quarter ended 31 December, from $8.60bn a year earlier. Analysts had expected [...]
