Greggs shares sink as it cancels plan to reopen stores amid lockdown May 1, 2020 Shares in high street bakery chain Greggs dropped today after it postponed its reopening plans over fears of attracting crowds. The bakery chain’s share price fell 4.73 per cent to 1,750p this morning after last night’s announcement that it will now carry out social distancing trials behind closed doors. Greggs had previously planned to reopen [...]
Barratt Developments to restart construction work this month May 1, 2020 Housebuilder Barratt Developments will restart work on construction sites this month after temporarily closing operations during the coronavirus lockdown. Work to implement social distancing measures will begin on 11 May, after which Barratt will restart building work across 180 of its construction sites, representing 50 per cent of its sites. The developer this morning said [...]
Intu to take ‘robust action’ against large tenants withholding rent May 1, 2020 Shopping centre landlord Intu warned it is prepared to take “robust action” against “well-capitalised” tenants that refuse to pay rent during the coronavirus crisis. Intu, which owns Manchester’s Trafford Centre, said it had received 40 per cent of rent due for the first quarter. It is in advanced discussions with tenants representing a further 28 [...]
Carlsberg sales dip due to pub closures during lockdown April 30, 2020 Carlsberg sales dropped in the first quarter and the brewing giant warned a further decline is expected over the next few months due to the closure of bars and restaurants during coronavirus lockdowns. The brewer said sales dropped seven per cent between January and March, and would continue to fall in the second quarter due [...]
B&Q reopens all 288 stores after social distancing measures implemented April 30, 2020 B&Q has reopened all of its UK stores from today after implementing new social distancing measures. The DIY retailer said all of its 288 stores were now open following temporary closures when the UK coronavirus lockdown was announced last month. Hardware shops were included on the government’s list of essential retailers that are allowed to [...]
High street jobs lost as no buyer found for Oasis and Warehouse stores April 30, 2020 Oasis and Warehouse have become the latest high street casualties of the coronavirus crisis after administrators were unable to find a buyer for the stores, resulting in 1,803 redundancies. The retailer’s intellectual property assets and certain stock have been sold to Hilco Capital. The group, which includes the Oasis, Warehouse and The Idle Man brands, [...]
Infrastructure giant John Laing appoints ex-3i exec as new boss April 30, 2020 Infrastructure development and investment firm John Laing has appointed a former 3i executive as its new boss. Ben Loomes will join the listed firm on 8 May, replacing Oliver Brousse who is leaving after six years at the helm to take a new role at French firm Veolia. Brousse oversaw the company’s initial public offering [...]
Estate agent Countrywide warns on impact of housing market slowdown April 30, 2020 Property giant Countrywide this morning said its sales pipeline had remained “resilient” during the lockdown period so far but warned it expects a “material slowdown” in transactions. The company, which owns the Bairstow Eves and Hamptons International estate agent brands, agreed sales pipeline throughout said the agreed sales pipeline during the coronavirus lockdown stood at [...]
JD Wetherspoon raises £141m as pub chain plans for June reopening April 30, 2020 JD Wetherspoon has raised £141m through a share placing to shore up its finances during the coronavirus crisis, as the pub chain gears up for a June reopening. The equity raise completed this morning will help the company cope with the low sales levels expected when it reopens after the coronavirus lockdown is lifted, it [...]
Sainsbury’s delays dividend as coronavirus costs expected to reach £500m April 30, 2020 Sainsbury’s has delayed a decision on its dividend and warned that it will take a £500m hit due to costs associated with coronavirus, but that soaring grocery sales and business rates relief will largely offset the impact. The supermarket said this morning that it faces costs associated with protecting customers and staff, weaker fuel, general [...]
