More than 1,000 jobs at risk as Sainsbury’s launches restructuring plan March 3, 2021 Sainsbury’s has launched a restructuring plan, putting around 1,150 jobs at risk. The supermarket is set to cut around 500 head office roles, reduce office space and close a warehouse, according to reports. The head office roles at risk include jobs in commercial operations, human resources, supply chain and logistics, technology, general merchandise and clothing [...]
Budget 2021: Pubs, restaurants and retailers toast Sunak’s announcement but warn of gaps in support March 3, 2021 The hospitality and retail sectors have welcomed the Chancellor’s extended support for pubs, restaurants, shops and salons, but said more could be done to encourage consumers back to the high street after lockdown. Rishi Sunak this afternoon announced measures including a business rates holiday extension, new “restart” grants, a VAT cut extension and a beer [...]
Stamp duty holiday: Property industry welcomes extension but calls for long-term reform March 3, 2021 Developers and property industry experts have welcomed the Chancellor’s extension of the stamp duty holiday but urged the government to fully reform the tax in the future. Rishi Sunak this afternoon confirmed that the higher stamp duty threshold of £500,000 will remain in place until 30 June – an extension of the original 30 March [...]
Budget 2021: Beer duty increase scrapped March 3, 2021 The chancellor this afternoon announced that the planned rise in beer duty will be scrapped in recognition of the challenges facing the hospitality sector. Rishi Sunak said planned tax increases on beer, wine and spirits will be cancelled for the second year in a row, following a tough period for pubs and restaurants. “This applies [...]
Budget 2021: Business rates holiday extended to end of June March 3, 2021 The business rates holiday for retail and hospitality firms will continue until the end of June, the chancellor announced today. Rishi Sunak told the House of Commons that the 100 per cent business rates holiday will be extended for three months. For the remaining nine months of the financial year, business rates will be discounted [...]
Stamp duty holiday: Sunak confirms three-month property tax break extension March 3, 2021 Chancellor Rishi Sunak has this afternoon confirmed that the government will extend the stamp duty holiday for a further three months. Speaking in the House of Commons today as he announced the latest budget, Sunak said the holiday will be extended in full until 30 June, with a tapered end until the end of September. [...]
Budget 2021: Hospitality and retail firms to get £5bn of ‘restart’ grants March 3, 2021 The chancellor has announced a new ‘restart’ grant to help retail, hospitality and personal care businesses reopen from April. Retailers, which are due to reopen from April, will be eligible for grants of up to £6,000 per premises. Meanwhile pubs, restaurants and salons, which will be closed until June, will be able to claim grants [...]
Vimto owner Nichols suffers profit drop after ‘most challenging trading’ in 80 years March 3, 2021 Nichols, the owner of Vimto, said it will take a £5m hit following the most “challenging trading period” in the out of home drinks sector for 80 years. The company said group revenues fell to £118.7m due to restrictions on the out of home drinks sector, and gross profit dropped £20.4m, coming in at £49.6m. [...]
High street retailer French Connection seeking new suitors after investment firms pull out of talks March 2, 2021 High street retailer French Connection is racing to find a new buyer after investment firms Spotlight Brands and Gordon Brothers pulled out of early-stage talks to buy the struggling chain. The fashion firm has formally launched a sales process and said it has been approached by three other suitors. It is also still in preliminary [...]
London rental enquiries boom after roadmap out of lockdown restrictions revealed March 2, 2021 London rental enquiries boom after roadmap out of lockdown restrictions revealed
