Pubs face inflationary costs of over 10 per cent as bosses call for tax relief February 3, 2022 Pubs are facing inflationary business costs of more than 10 per cent as publicans battle spiralling energy and labour costs. More than two in three pubs told an industry survey they were facing such substantial cost increases. Venues are facing skyrocketing energy bills while a labour crunch has seen wages of bartenders and chefs leap [...]
Borrowers ‘needn’t panic just yet’ after interest rates hike February 3, 2022 Real estate experts have said a rise in interest rates is “unlikely to dampen motivation to move” despite warnings that the news signals higher mortgage costs down the line. The Bank of England has hiked rates at successive meetings for the first time since 2004, with a majority of the Bank’s rate setters voting to [...]
KP Snacks warns of crisps shortages after cyber attack February 3, 2022 The snack maker behind Hula Hoops and Tyrrells crisps has warned of shortages as it battles a ransomware attack on its IT systems. KP Snacks said it had been victim to a cyber-attack on its IT and communications systems last week, warning of supply issues until at least the end of March. The company’s systems [...]
Shoppers flock to Oxford St in West End’s busiest week since last November February 3, 2022 The West End has enjoyed busiest week since November 2021 following the easing of Covid restrictions last month. In the first full week since plan B measures eased, areas including Covent Garden and Oxford St, saw a return of shoppers. Footfall hit 79 per cent of pre-pandemic levels, the highest seen since last autumn, before [...]
Green shoots of recovery for UK high streets after Omicron measures ease February 3, 2022 The lifting of plan B restrictions spurred the UK back to shopping destinations but January footfall dropped on December levels. According to the latest footfall insight data from Springboard, footfall worsened slightly in January over the month as a whole, to 20.8 per cent below pre-pandemic levels. This was compared to footfall that was down [...]
Real estate chiefs react to rental reforms as government eyes landlord register for England February 2, 2022 England has edged one step closer to a national landlords’ register after the government’s levelling up white paper confirmed a consultation on the matter yesterday. All homes in the private rented sector will have to meet a new minimum ‘decent homes’ standard while section 21 ‘no fault’ evictions will be abolished. David Reed, operations director [...]
Pret coffee subscription service to increase £5 amid rising costs February 2, 2022 Sandwich chain Pret A Manger is hiking the price of its coffee subscription service 25 per cent amid soaring ingredient and labour costs. Pret said the monthly cost – which covers five barista-made drinks a day – would increase from £20 to £25 from tomorrow. This will apply to new subscribers straight away while those [...]
Exclusive: Building suppliers issued the most petitions during the pandemic February 2, 2022 Building suppliers dished out the most winding-up petitions to companies owing them cash during Covid, exclusive data has revealed. Audit, tax and advisory firm Mazars said building suppliers made up 28 per cent of all winding-up petitions filed since February 2020. During the pandemic, troubled construction firms often failed to pay owed cash to merchants. [...]
Owner of Christian Dior perfume to move from Oxford St to Kensington February 2, 2022 The perfume giant behind brands including Christian Dior and Givenchy is to shut shop at its flagship Oxford St and head to a new site in Kensington. The Lancer Square development in W8 is set to welcome LVMH Perfumes & Cosmetics, which produces Dior, Givenchy and Guerlain fragrances. The perfume retailer is under offer on [...]
Activewear brand TALA raises £4.2m as it woos shoppers fed up with fast fashion February 2, 2022 Gen Z-orientated sustainable activewear brand TALA has raised £4.2m in funding with Active Partners and Venrex. Founded by social media influencer Grave Beverley, TALA aims to offer consciousness gym goers an affordable alternative to fast fashion rivals. Participants in the oversubscribed round included venture capital trust Pembroke VCT, as well as angel investors including Deciem [...]
