Pubs will ‘struggle to break even’ until all Covid restrictions are lifted Pubs across England are preparing to open their doors from Monday as indoor trading resumes, but the industry body has warned that ongoing social distancing restrictions will force 2,000 to remain closed. The British Beer and Pub Association said today that 45,000 venues will reopen next week, serving around 3m pints, as punters flock back [...]
End of lockdown and decade-low rents entice Londoners back to the city Londoners that left the capital during coronavirus lockdowns are heading back to the capital as the city begins to open up again. Rents in central London locations have declined sharply during the pandemic, as Londoners left the city and lockdown saw fewer people moving to the capital for work. However that trend looks set to [...]
FRP Advisory reports dip in insolvency jobs as government measures stave off corporate collapses FRP Advisory reported a drop off in restructuring appointments in the last financial year as government financial aid protected many businesses from collapse during the Covid pandemic. The professional services firm, which plans to pay a dividend for the year, said the number of insolvency appointments it secured in the last 12 months was down [...]
Fashion platform Farfetch beats growth expectations with 46 per cent sales jump May 14, 2021 Luxury fashion platform Farfetch beat growth expectations in the first quarter of the year as its sales jumped 46 per cent. The British e-commerce site said revenue hit $485m in the first three months of the year, with gross merchandise value rising 50 per cent to $916m. Meanwhile, profit after tax reached $517m during the [...]
Sanne Group rejects private equity firm Cinven’s £1.35bn buyout offer May 14, 2021 UK private equity firm Cinven said this morning that Sanne Group, an alternative asset and corporate services business, has rejected its £1.35bn buyout offer. The company said it is now considering all options, and has until 11 June to make a firm offer or walk away. Earlier this month Cinven made a proposal of a [...]
Crest Nicholson sells stake in Surrey film studio for £45m May 14, 2021 UK property developer Crest Nicholson has sold its 50 per cent stake in a film studio joint venture for £45m. Crest Nicholson, which usually focuses on house building, said it has entered into an agreement with JV partner Aviva to sell its share of Longcross Studio in Surrey. The transaction, which is expected to complete [...]
Poundland owner sets discount price for budget retailer’s Warsaw listing May 14, 2021 Poundland’s owner has set a discount price for the budget retailer’s Warsaw listing, giving the company a market capitalisation of 23bn zlotys (£4.38bn). South African conglomerate Steinhoff, the parent company of Poundland owner Pepco, set the price of shares in the firm at 40 zlotys. The pricing is towards the lower end of the 38 [...]
The Works ‘encouraged’ by post-lockdown sales but warns of ongoing uncertainty May 14, 2021 Arts and books retailer The Works said sales have been “very encouraging” since most of its stores reopened, but warned it is too early to judge whether the spike is due to pent up demand or “strong underlying performance”. The high street chain said online sales have reduced since its branches reopened but that they [...]
Pub and restaurant sales bounce back in April ahead of full reopening May 14, 2021 Pub and restaurant sales bounced back in April, reaching almost 75 per cent of pre-pandemic levels in a confidence boost for the sector ahead of its full reopening on Monday. Managed pub and restaurant groups recorded a 26 per cent drop in like-for-like sales last month compared to April 2019. The period covers three full [...]
Morrisons offers lockdown entrepreneurs chance to sell products in stores May 13, 2021 Morrisons has launched a scheme to offer UK entrepreneurs the chance to sell their products in store and online as more consumers look to support small and local businesses. A record number of new businesses were set up last year – rising 13.25 per cent to 772,002 – as budding entrepreneurs used lockdown to focus [...]
