Department store chain Beales falls into administration January 20, 2020 Department store chain Beales has entered administration this morning, putting more than 1,000 jobs at risk. The retailer had been in crisis talks with potential buyers in a bid to stave off a collapse, however the company was unable to secure a deal. Professional services firm KPMG has been appointed as administrator, and the firm’s [...]
UK house prices: Post-election surge breaks records January 20, 2020 The decisive result of the General Election sparked a record-breaking surge in UK house prices in December and January, in the latest sign that the UK housing market has been revitalised by a “Boris bounce” There was a 2.3 per cent monthly surge in the average price of property coming to the market between 8 [...]
Retail landlord Intu to seek £1bn of emergency cash January 19, 2020 Shopping centre landlord Intu is preparing to launch an attempt to raise £1bn in emergency funding following a torrid year for the UK retail industry. The property firm, which owns Manchester’s Trafford Centre, has been hurt by the challenges facing the retail industry, as brands such as Topshop, Debenhams and House of Fraser have closed [...]
Third of retailers issue profit warnings in ‘bruising’ year for UK high street January 19, 2020 A third of retailers issued a profit warning last year following a “bruising” year for the UK high street. For the second year in a row, a third or more of the FTSE retailer sector warned on lower profits over the course of 2019. The number of profit warnings fell from 36 in 2018 to [...]
EU could force Apple to ditch iPhone charger January 17, 2020 Apple could be forced to abandon the Lightning connector, as the European Parliament mulls the introduction of a common charger to fit all devices Members of the European Parliament (MEPs) will debate the issue on Monday, calling for a charger that will “fit all mobile phones, tablets, e-book readers and other portable devices”. According to [...]
BT and Vodafone ‘support Huawei involvement’ in UK 5G network January 17, 2020 BT and Vodafone are reportedly set to support Chinese telecoms firm Huawei’s involvement in the UK’s 5G network. The companies are preparing a letter to be sent to the Prime Minister to lobby him to support the move, saying a ban on Huawei could stunt the growth of the UK’s digital economy, Sky News reported. [...]
Central London property investment soars after General Election January 17, 2020 Investment in central London’s office market soared in December, after the result of the General Election sparked a flurry of deal activity. The £4.9bn invested in the fourth quarter of last year was a 125 per cent jump on the amount invested in the previous quarter and was on par with 2018. The Conservative general [...]
Cranswick upgrades profit as African Swine Fever boosts UK exports January 17, 2020 British butchers Cranswick said this morning that its full-year profit will beat expectations after export sales soared due to African Swine Fever. The company said “export sales have continued to be exceptionally strong”, as an outbreak of African Swine Fever in China has seen the demand for British pork rise. “African Swine Fever has created [...]
Vegan products total a quarter of food launches in 2019 January 17, 2020 Almost a quarter of all new food products to launch in the UK last year were vegan, as companies rush to cash in on the growing number of “flexitarians”, according to the latest research. The number of people who have reduced or limited the amount of meat they eat has risen from 28 per cent [...]
The Gym Group grows revenue after adding new sites and members January 17, 2020 Budget gym operator The Gym Group saw revenue jump last year after adding 70,000 new members. Total revenue in the year ended 31 December grew 23.6 per cent to £153.1m, up from £123.9m the previous year, as the gym chain opened new venues and persuaded new members to sign up. Total year-end membership numbers were [...]
