£4bn takeover of HomeServe set for early 2023 as profit rises for repairs firm November 22, 2022 A £4.1bn takeover of repairs firm HomeServe by a Canadian suitor is on track to be completed by early 2023 at the latest. The pipe-fixing company has been snapped up by Bidco, a subsidiary of Canadian company Brookfield Infrastructure funds. HomeServe said all necessary regulatory and competition approvals have now been obtained in the UK [...]
Next steps: Gap builds on UK return with re-introduction of Banana Republic and Athleta brands November 21, 2022 Gap has added a pair of apparel brands to its joint venture with Next, after the fashion firm left the high street amid the pandemic. The e-commerce retailer said it will re-introduce Banana Republic and Athleta products to the UK via Next’s Total platform. The US retailer shut its 81 stores in the UK and [...]
C’mon England: Pub bosses set to be the Three Lions’ biggest fans November 21, 2022 Pubs are hoping for a wintry windfall thanks to the World Cup kicking off this week. The country’s boozers are hoping that England’s first match versus Iran this afternoon will draw in crowds on a traditionally quiet trading day. The football tournament typically draws in £155m for pubs when held in the summer months. Pubs [...]
Issa brothers’ LEON to more than double number of Asda coffee kiosks November 21, 2022 LEON is to more than double its self-serve coffee kiosks in the UK over the next couple of months, as the Issa brothers’ on-the-go food operator expands. The chain, which sells healthier alternatives of fast-food and is owned by the billionaire brothers behind supermarket Asda and petrol forecourt operator EG group, is to expand its [...]
Excl: London’s offices aren’t dead but will continue to feel Covid side effects ‘in immediate future’ November 21, 2022 Reports of the death of the London office have been greatly exaggerated – but policymakers must step up to ensure workers are encouraged to come to their desks. That’s the conclusion of a new report from Central London Forward, the partnership representing the city’s 12 central local authorities. Although the take-up rate of office space [...]
Restaurants go to the wall at faster pace than during the pandemic November 21, 2022 Restaurant insolvencies have rocketed over the past year, occurring at a faster rate than amid the Covid-19 pandemic. The number of restaurants going to the wall has increased 59 per cent over the past year, amid dire warnings from industry voices about the months to come. Insolvencies jumped to 1,567 in the year to 30 [...]
Wilko reviewing management of financing ahead of vital Christmas season November 20, 2022 Discounter Wilko has said it has a strong relationship with lenders, amid newspaper reports that it is urgently attempting to secure a £30m cash injection. The high street chain was reported to be in emergency talks with alternative lenders over rescue cash, off the back of a dramatic leap in interest rates, according to The [...]
Embracer slashes earnings forecast amid ‘darker’ economic landscape November 17, 2022 Swedish video gaming group Embracer cut its earnings forecast and admitted it was looking at spinning off some divisions. Shares plunged some 19 per cent after the holding firm said it was reviewing its business and mulling a spin off of a number of its companies. The largest European gaming group acknowledged that the macroeconomic [...]
Fuller’s boosted by commuters returning to London as gov offers ‘close to zero support’ for pubs November 17, 2022 The government has not issued any “meaningful support” for the pub sector, the boss of Fuller, Smith & Turner, told CityA.M., following the autumn budget. Although the country now had a “very strong” Prime Minister and “very solid” Chancellor in place, the pub sector had been offered “close to zero support” amid a worsening economic [...]
Chancellor ‘misses a trick’ by not re-introducing tax-free shopping for overseas tourists November 17, 2022 West End business leaders have slammed the Chancellor for not changing his mind on an introduction of VAT free shopping for overseas tourists. Despite calls from luxury retailers this month, Jeremy Hunt made no mention of the prospect of introducing tax-free shopping for overseas visitors making trips to London’s shopping heartlands. Last month, Hunt announced [...]
