Primark owner ABF confirms eligibility for coronavirus loan April 17, 2020 Primark owner Associated British Foods has announced that it is eligible for funding from the government’s Covid Corporate Financing Facility during the coronavirus outbreak. All of the budget retailer’s 376 stores across 12 countries have been closed since March 22, which represents a loss of £650m net sales each month. However the company is hoping [...]
Coronavirus: UK pubs and restaurants suffer 60 per cent sales dive in March April 17, 2020 The UK’s pubs, restaurants and bars suffered an almost 60 per cent drop in sales last month as a lockdown was implemented to slow the spread of coronavirus. Managed pubs reported a 57.8 per cent sales drop, restaurant sales plunged 56.2 per cent and bars suffered a 60 per cent dive in sales. London was [...]
Coronavirus: Blackrock reports sharp drop in income and assets April 16, 2020 US asset management giant Blackrock suffered a sharp drop in income and assets under management in the first quarter as the coronavirus outbreak sparked turmoil in global markets. Blackrock’s net income fell to $806m, or $5.15 per share, in the first quarter ended March 31, from $1.05bn, or $6.61 per share, a year earlier. Assets [...]
Coronavirus: Schroders boss donates to Covid-19 charities as firm posts AUM loss April 16, 2020 The chief executive of Schroders will donate 25 per cent of his salary to charities fighting the coronavirus outbreak, the firm said this morning as it reported a drop in assets under management (AUM). Group chief executive Peter Harrison said today that executive directors will donate their 2020 long-term incentive plan awards and 25 per [...]
Competition watchdog revokes ban on Takeway.com and Just Eat integration April 16, 2020 Just Eat Takeway has been given the go-ahead to integrate the two food delivery businesses after the UK’s competition watchdog revoked an order to keep the firms separate. The Competition and Markets Authority (CMA) issued an initial enforcement order in January, which prevented the two food delivery firms from integrating their businesses. Amsterdam-based Takeaway.com bought [...]
Recipe box firm Gousto secures £33m investment as coronavirus boosts business April 16, 2020 Recipe box firm Gousto has secured £33m in new funding from investors including celebrity fitness coach Joe Wicks, as growth in the meal-kit market has been accelerated by the coronavirus outbreak. The funding round was led by Perwyn, BGF, and MMC Ventures and Joe Wicks, taking the total funds raised to more than £130m in [...]
Storage firm Big Yellow suffers drop in occupancy due to UK coronavirus lockdown April 16, 2020 Storage provider Big Yellow suffered a drop in occupancy after the coronavirus lockdown was announced as customers rushed to collect their belongings. There was a spike in activity after the government imposed coronavirus lockdown measures, with a net overall occupancy loss of 23,000 sq ft in the final two weeks of March, compared to a [...]
Coronavirus: Amazon to close warehouses in France after court order April 16, 2020 Amazon has been forced to close its warehouses in France after it was ordered to only deliver essential goods such as food and medical supplies during the coronavirus crisis. The US retail giant will close its six warehouses in France from today until at least 20 April following the court order. Around 10,000 permanent and [...]
UK retail sales suffer worst fall in 25 years due to lockdown April 16, 2020 UK retail sales suffered the worst decline on record last month due to the coronavirus lockdown, however food and online sales jumped as Brits stayed at home. Total UK retail sales decreased 4.3 per cent in March, against a drop of 1.8 per cent in 2019, which is the worst fall in 25 years, following [...]
Coronavirus: Barratt Developments furloughs 85 per cent of staff April 16, 2020 Housebuilder Barratt Developments today announced it has temporarily laid off 85 per cent of its staff through the government coronavirus job retention scheme. Furloughed employees will receive full pay until at least the end of next month, the company said this morning. The developer also said both the executive and non-executive teams had agreed to [...]
