Coronavirus: Major cinema chains close all sites March 17, 2020 The UK’s major cinema chains have announced they will close immediately after the government yesterday ramped up the fight back against coronavirus. Odeon, Vue, Picturehouse and Cineworld have all announced the closure of all their sites across the UK, while London’s BFI Southbank has also temporarily shut after the public were told to avoid public [...]
Coronavirus: Selfridges and Harrods cut opening hours March 17, 2020 Luxury department stores Harrods and Selfridges have scaled back their opening hours in a bid to slow the spread of coronavirus. Selfridges said it will be open between 11am and 7pm Monday to Saturday at its London, Birmingham and Manchester stores. Sunday trading hours will remain the same. Meanwhile Harrods announced that from today it [...]
Laura Ashley collapses after coronavirus hits trading March 17, 2020 High street retailer Laura Ashley has collapsed into administration due to the outbreak of coronavirus. The company announced this morning that the outbreak had “an immediate and significant impact on trading”, and the retailer was unable to secure third party backing or additional financial support from main shareholder Mui Asia. Laura Ashley said it has [...]
Coronavirus: Pub stocks plunge on ‘stay home’ advice March 17, 2020 Pub stocks plummeted this morning following government advice for the public to avoid pubs and restaurants to slow the spread of coronavirus. The hospitality sector yesterday branded the government’s decision to urge people to stop going to venues without offering any additional help for businesses “catastrophic”. Pub operator Marston’s share price dropped more than 28 [...]
Coronavirus measures to have ‘devastating’ impact on UK hospitality sector March 16, 2020 The UK’s pubs and restaurants have called on the government to offer urgent financial help after Boris Johnson advised people to avoid social gatherings, in what could be a death knell for London’s pubs, restaurants and leisure businesses. The prime minister urged the public to practice “social distancing” by staying at home rather than eating [...]
Coronavirus: Supermarkets mull streamlining stores to cope with spike in demand March 16, 2020 The biggest supermarkets in the UK are mulling cutting cafe, counters and other services to focus on maintaining basic provisions as the demand for essential items and hygiene products soars during the coronavirus outbreak. Bosses are stepping up their contingency plans to keep stores running if staff take sick leave or if a potential mass [...]
Walmart edges closer to Asda sale as buyout firms bid March 16, 2020 US retail giant Walmart has edged closer to a sale of Asda after three private equity firms competing to buy the supermarket reportedly made it through to the next stage of bidding. Buyout firms Apollo Global Management, Lone Star Funds and TDR Capital submitted first round offers for the UK grocer and have been invited [...]
JP Morgan backs property lender Glenhawk with £200m facility March 16, 2020 JP Morgan has agreed a £200 facility with challenger lender Glenhawk to grow its property loan size and enter the UK homeowner mortgage market. The new senior funding line will support Glenhawk’s ability to grow its maximum property bridging loan size from £3m to £5m to fund a mixture of residential and commercial borrowers. The [...]
H&M closes hundreds of stores as Europe battles coronavirus spread March 16, 2020 H&M’s share price dropped this morning after it announced it has shuttered hundreds stores across Europe as coronavirus continues to spread across the continent. The Swedish retailer’s share price fell more than 11 per cent this morning as it warned that sales had been affected this month due to the outbreak. The group has temporarily [...]
LSL abandons Countrywide merger amid coronavirus concerns March 16, 2020 LSL Property Services has pulled out of a potential £500m merger with Countrywide, terminating a deal that would have created the UK’s biggest estate agent, amid market uncertainty due to the outbreak of coronavirus. LSL, which owns Your Move and upmarket chain Marsh & Parsons, did not give a reason for its decision this morning, [...]
