UK retail parks fare better in lockdown than high streets and shopping centres April 20, 2020 The number of shoppers visiting the UK’s retail destinations plunged by a record amount last month due to coronavirus, however a surge in supermarket demand helped to shield retail parks. UK retail footfall plummeted 44.7 per cent in March due to the mandatory lockdown which restricted movement and forced all non-essential stores to close. In [...]
Coronavirus: European IPO market ‘virtually inactive’ since March April 20, 2020 The initial public offering (IPO) market in Europe has been “virtually inactive” since March due to coronavirus, however secondary equity raises have spiked as companies seek to shore up their finances during the crisis. Only seven public offerings were launched on European exchanges between early March and mid-April, according to the latest research. European IPOs [...]
Coronavirus: Debenhams and Arcadia in talks with landlords over store closures April 19, 2020 Major high street retailers including Debenhams and Topshop owner Arcadia are negotiating with landlords over whether stores will reopen after the coronavirus lockdown ends. All non-essential retailers were ordered to close when the government implemented restrictions to slow the spread of coronavirus last month. However, some stores will not reopen when the lockdown is relaxed [...]
Coronavirus: Asda cancels clothing orders with suppliers April 19, 2020 Asda has cancelled around a quarter of clothing orders with suppliers due to plummeting demand during the coronavirus crisis. The supermarket has said it will pay 50 per cent for the completed cancelled orders, rising to 60 per cent for Bangladeshi suppliers. Asda said it will honour more than 75 per cent of its orders [...]
Coronavirus: Government launches taskforce to develop vaccine April 17, 2020 The government has launched a taskforce, including both industry and academics, to develop a coronavirus vaccine. Business secretary Alok Sharma announced this afternoon that the taskforce, which will include Sir John Bell, Astrazeneca, and the Wellcome Trust, will focus on developing a vaccine as fast as possible to make it available to the public. “We [...]
Coronavirus: When are supermarket opening times for NHS and pensioners? April 17, 2020 As the UK heads into lockdown because of the coronavirus outbreak, supermarkets have enforced tighter restrictions and changed opening hours. Prime Minister Boris Johnson yesterday ordered all “non-essential” shops to close, leaving supermarkets one of the few stores to remain open. In recent weeks supermarkets have struggled to keep shelves replenished as consumers embarked on [...]
Coronavirus: The Gym Group and Hollywood Bowl latest to tap investors for cash April 17, 2020 UK businesses are racing to raise equity and shore up their finances during the coronavirus crisis, with The Gym Group and Hollywood Bowl among the latest firms to tap investors for cash. According to research by Peel Hunt, there have been 32 equity raises of at least £5m in the UK since the middle of [...]
CMA provisionally clears Amazon’s £442m Deliveroo investment over coronavirus April 17, 2020 A UK watchdog today provisionally cleared Amazon’s massive £442m investment into Deliveroo due to the risk the food delivery firm faces from coronavirus. The Competition and Markets Authority (CMA) called the situation “wholly unprecedented” but said the cash was “realistically only available from Amazon”. Deliveroo has seen a significant decline in revenues from the UK [...]
Kurt Geiger: Customers will remember retailers’ coronavirus response April 17, 2020 Businesses that protect employees and support the NHS during the coronavirus pandemic will be rewarded by customers when the crisis is over, according to Kurt Geiger’s chief executive. “Customers will remember who has done the right thing, and who maybe hasn’t, and we want to be on the right side of that when we come [...]
Coronavirus: £7bn wiped off Brewin Dolphin funds April 17, 2020 Wealth management firm Brewin Dolphin took a £7.1bn hit on the funds it manages in its latest quarter due to the coronavirus pandemic. Brewin Dolphin’s total funds decreased by 14.6 per cent to £41.4bn in the second quarter, down from £48.5bn, with discretionary funds down 14.6 per cent to £35.7bn from £41.8bn. The MSCI WMA [...]
