Hotels, restaurants and pubs ‘optimistic’ about bounce back in trading March 8, 2021 Many hotel, restaurant and pub firms are “optimistic” about the future despite the pressures of the Covid-19 crisis, with most expecting trading to bounce back by the end of the year, a survey showed. Hotel businesses had the most positive outlook, with 83 per cent of the operators surveyed saying they were confident about future [...]
Exclusive: London pubs, restaurants and hotels to claim almost £200m in restart grants March 8, 2021 London pubs, restaurants and hotels are set to receive almost £200m in extra government grants to help them reopen after the latest coronavirus lockdown. Around 13,000 hospitality businesses across the capital will be eligible to claim £184.2m in the restart grants, City A.M. can reveal. Research by real estate adviser Altus Group showed 3,632 pubs [...]
Marks & Spencer expands online presence to more than 100 markets with launch of 46 new websites March 8, 2021 Marks & Spencer (M&S) has launched 46 new flagship websites across the world, expanding its online reach to more than 100 countries. The launch, announced this morning, is part of M&S’s plan to “turbocharge” its online business, and almost doubles the number of international markets where it has a pureplay online presence. In it’s most [...]
Home REIT invests £48m in property portfolio expansion to house homeless people March 8, 2021 Home Real Estate Investment Trust (REIT), which funds the acquisition and development of accomodation for homeless people, has bought 11 property portfolios in a deal worth £48.1m. The acquisition completes the full investment of the net proceeds of the firm’s £240m public listing in October last year. Following the deal, Home REIT has added an [...]
Footwear retailer Shoe Zone suspends dividend until 2025 March 8, 2021 Footwear retailer Shoe Zone this morning said it has suspended its dividend until it is able to pay off its £12m in debt, which it does not expect to be until 2025 at the earliest. The firm – which had been debt free for 15 years – said borrowing had rocketed during the coronavirus pandemic. [...]
Deliveroo transactions surge to £4.1bn ahead of London listing March 8, 2021 The value of transactions made through Deliveroo almost doubled last year due to a surge in demand for takeaway food during the pandemic, the food delivery firm said this morning ahead of its London listing. The firm’s gross transaction value – the total amount of cash it processes on its platform – grew 64 per [...]
Domino’s exits Swedish market to focus on core UK and Ireland business March 8, 2021 Domino’s has disposed of its Swedish business as it progresses with its strategy to exit international markets in order to focus on its core UK and Ireland operations. The pizza chain announced this morning it has sold its entire shareholding in PPS Foods – also known as Domino’s Sweden, to minority shareholder Eyja fjárfestingafélag. Domino’s [...]
Morrisons forecast to report £300m Covid-related costs in full-year results March 5, 2021 Morrisons is expected to report coronavirus-related costs of almost £300m in its full-year results next week due to the impact of the third Covid-19 lockdown. In a note to investors, analysts at Shore Capital Markets estimated that the current national lockdown will have elevated operating costs around absenteeism and temporary workers, as well as mounting [...]
Tiktok leases new London HQ above Farringdon’s Crossrail station March 5, 2021 Tiktok has leased a new London office building above Farrington East Crossrail station, developer Helical announced today. The tech firm has taken on the entire six-storey Kaleidoscope development, which includes 88,500 sq ft of office space. The lease is for a 15 year term with a 10 year break clause, and includes a market rent [...]
British Chambers of Commerce appoints Cabinet Office civil servant as new director general March 5, 2021 The British Chambers of Commerce has appointed Cabinet Office senior civil servant Shevaun Haviland as its new director general. Haviland will take over from Dr Adam Marshall, who is set to step down at the end of March after five years in the role. She will join the BCC from the Cabinet Office, where she [...]
