All Bar One and Toby Carvery owner cuts 1,300 jobs as Covid-19 pushes it to annual loss November 26, 2020 Pub chain Mitchells & Butlers has cut 1,300 jobs this year having made a £123m loss in the last year. The group, which owns cocktail bar All Bar One and Toby Carvery, said it could no longer support the employees due to store closures and reduced levels of activity because of the coronavirus pandemic. Earlier [...]
Fuller’s loses £22m in six months following coronavirus restrictions November 26, 2020 Brewery and pub chain Fuller’s made a £22m loss before tax in the six months to 26 September, following coronavirus restrictions that meant the business lost 66% of trading weeks. The business made £45.6m in revenue in the six months, down from £167.1m during the same period last year. From the end of July to [...]
De La Rue in talks to produce ‘Covid passports’ November 25, 2020 De La Rue is in talks with governments and pharmaceutical companies about producing ‘Covid passports’. The banknote printer is also in conversations surrounding security seals and tracking systems to guarantee that vaccines and tests are genuine, according to the Telegraph. At the unveiling of the group’s interim results, chief executive Clive Vacher said: “We do [...]
KPMG partner blasts “witch hunt” case at Silentnight tribunal November 25, 2020 A partner at KPMG who is wrapped up in a case involving KPMG, Silentnight and the FRC has described the case as a “witch hunt” during an outburst at the tribunal. David Costly-Wood, a restructuring partner at KPMG is, along with the big four firm, accused of helping private equity firm HIG Capital force the [...]
Profits up at Brewin Dolphin following volatile year in markets November 25, 2020 Wealth manager Brewin Dolphin has reported a full-year profit after a year of volatile markets due to the coronavirus pandemic. Pre-tax profit for the year ending 30 September rose to £78.2m up from £75m a year earlier. In July Brewin Dolphin started to see an improvement in investment returns and net inflows after the [...]
Deliveroo appoints new chair ahead of rumoured public listing November 25, 2020 Takeaway delivery app Deliveroo has appointed Claudia Arney as the company’s first chair, as the business heads for change in 2021. The move comes as Deliveroo prepares to pursue a rumoured public listing in the coming months. Arney has worked in executive roles primarily focused on building digital businesses including at Pearson, The Financial Times, [...]
Biden: We do not want a guarded border on Ireland November 25, 2020 US President-elect Joe Biden has said America does not want a guarded border between the Republic of Ireland and Northern Ireland, following Brexit. Speaking to reporters in Delaware Biden said: “We do not want a guarded border. We’ve worked too hard to get Ireland worked out. “The idea of having the border north and south [...]
Road to recovery: AA accepts £219m private equity bid November 25, 2020 The AA has accepted a £219m cash takeover offer from private equity groups Towerbrook Capital and Warburg Pincus. Shareholders in the roadside recovery business will receive 35p per share as a result of the takeover. The private equity firms plan to inject £380m into the business to help reduce its debt pile of £2.6bn as [...]
G4S shareholders told to reject GardaWorld bid as it resumes dividend pay November 25, 2020 Security firm G4S shareholders have been urged to ignore the latest “wholly inadequate” offer from rival firm GardaWorld, which has been circling G4S for months and made multiple offers for the business. In a letter to shareholders John Connolly, chairman of the board of directors at the firm, urged recipients to reject GardaWorld’s “wholly inadequate [...]
Price of body bags up 1310 per cent: Initial govt mistakes cost taxpayer extra £10bn November 25, 2020 Inadequate stockpiles of personal protective equipment (PPE) led to the government spending approximately £10bn extra procuring additional items, a report by the National Audit Office (NAO) has found. Demand for PPE soared in England from March 2020, when NHS, care workers, and key workers in other industries started to require protection from the Covid-19 virus. [...]
