Moss Bros reopens online store after government return to work guidance May 12, 2020 Menswear retailer Moss Bros has reopened its online store following updated government advice for more people to return to work. The company said it will relaunch its e-commerce operations from tomorrow after implementing safety measures and following updated government guidance on returning to work. Moss Bros, which closed its physical and online stores in March, [...]
Landsec shares dive after £1.2bn wiped off property value during coronavirus crisis May 12, 2020 Landsec’s share price plunged this morning after the property giant revealed it had taken a £1.2bn hit to its portfolio value. Landsec, one of the UK’s largest property companies, also warned that it does not expect the economy to recover until at least 2022. The value of the company’s portfolio slumped 8.8 per cent to [...]
Hollywood Bowl secures government coronavirus interruption loan May 12, 2020 Hollywood Bowl has secured a £10m loan through the government’s Coronavirus Large Business Interruption Loan Scheme. The bowling alley operator said the loan will be provided by Lloyds Bank. It replaces a £10m revolving credit facility extension to its £35m banking facility, which was announced at the beginning of April. Hollywood Bowl, which has closed [...]
Coronavirus lockdown: Kingfisher sales plunge due to store closures May 12, 2020 B&Q owner Kingfisher reported plummeting sales in the first quarter due to coronavirus lockdown measures, but said trading was beginning to bounce back after stores reopened. The DIY retailer said first quarter like-for-like sales were down 24.8 per cent to £2.2bn due to the impact of coronavirus. Online growth increased fourfold from mid-March as Kingfisher [...]
Morrisons retail sales surge in lockdown but fuel demand drops May 12, 2020 Morrisons retail sales jumped in the first quarter of the year due to coronavirus stockpiling, however a drop in demand for fuel hurt overall sales. Like-for-like retail sales jumped 5.1 per cent in the 14 weeks to 10 May, driven by a 10.8 per cent surge in sales between weeks 12 and 14 of the [...]
Coronavirus lockdown: Economic activity and optimism plunge to record lows May 11, 2020 Economic activity and optimism levels both plummeted to record lows last month due to the UK’s coronavirus lockdown. Business output across the UK fell by 35.87 points in April to 44.9, significantly below the 79.28 recorded after the global financial crisis, to the lowest level since records began in 2005. Any reading below 95 points [...]
Starbucks to reopen stores for takeaway and drive-thru this week May 11, 2020 Starbucks will begin a phased reopening of drive-thru and takeaway-only stores with social distancing measures in place this week. The coffee shop giant said stores will begin reopening from Thursday after the government eased the lockdown restrictions to allow more traffic on the roads. Starbucks said it will offer a “near complete” drinks menu and [...]
Coronavirus lockdown: London records busiest week since restrictions began May 11, 2020 Central London has recorded the busiest period since the UK coronavirus lockdown began, as more people returned to work and the government moved towards easing restrictions. Pedestrian activity in central London was up 10.2 per cent last week, driven by a sharp uptick on Tuesday, Wednesday and Thursday as more workers travelled around the capital. [...]
UK retailers warn government coronavirus aid not enough to prevent ‘imminent collapse’ May 11, 2020 UK retailers have warned that its financial aid package for businesses during the coronavirus crisis will not prevent the “imminent collapse” of many firms. In a letter to the chancellor Rishi Sunak and small business minister Paul Scully, the British Retail Consortium said the crisis “facing parts of the retail sector…must be addressed urgently ahead [...]
Coronavirus lockdown: 1m firms warn of collapse if restrictions continue for three months May 11, 2020 More than 1m businesses have warned that they could not survive another three months of the coronavirus lockdown, after the prime minister last night announced some changes to the restrictions. More than 250,000 businesses said they will not be able to survive if trading conditions remain as they are for another month, according to the [...]
