MPs urge Boris Johnson to appoint hospitality minister to help pubs and restaurants recover January 22, 2021 MPs have urged Boris Johnson to create a new minister for hospitality, as the sector continues to suffer during the coronavirus pandemic. In a letter to the Prime Minister, chair of the Petitions Committee Catherine McKinnell MP asked Johnson to engage with pub and restaurant bosses over concerns there is no long-term plan for the [...]
Topshop set for discount sale price after Next pulls out of race, analysts say January 22, 2021 The bidders circling Sir Philip Green’s collapsed retail empire Arcadia could bag a good deal to buy Topshop, after Next – a frontrunner to rescue the firm’s “crown jewel” – pulled out of the race. Restructuring experts said Next’s exit from the sales process will put the other bidders in a stronger position, making it [...]
The Works suffers sharp sales drop over crucial Christmas period January 22, 2021 Arts and crafts retailer The Works suffered a sharp drop in sales in the run-up to Christmas after strict lockdown restrictions were put in place over the crucial trading period. The high street chain said this morning that total sales in the 11 weeks to 10 January declined 24.8 per cent, compared to the same [...]
More than 150 London pubs, bars and restaurants closed permanently last year January 22, 2021 More than 150 London pubs, bars and restaurants closed permanently last year, the latest figures showed as the coronavirus pandemic continued to wreak havoc on the sector. The number of licensed premises in the capital in December shrunk 4.5 per cent compared to the previous year. That represented a drop from 3,460 venues to 3,303 [...]
Victoria Beckham’s fashion label may need cash injection to stay afloat January 21, 2021 The future of Victoria Beckham’s eponymous fashion and beauty line could be at risk after directors raised doubts over its ability to continue as a going concern without additional funding. The Beckham’s own a majority stake in the firm, meaning there is a “reasonable expectation” that the celebrity couple will provide a cash injection to [...]
London developer extends stamp duty holiday to October January 21, 2021 London developer Galliard Homes has extended the stamp duty holiday by six months, with the property company footing the bill. The company has extended the holiday to 1 October, while the official government tax break ends on 31 March, amid industry-wide calls for the deadline to be delayed. Galliard Homes said the extension, which applies [...]
Landlord New River bucks trend to collect majority of retail rents January 21, 2021 Commercial landlord New River has bucked the high street trend and collected the majority of rent due in December due to the high number of essential retail tenants in its property portfolio. The real estate investment trust (REIT) said it had received 70 per cent of retail rents due for the fourth quarter, with 10 [...]
Sunak under pressure to extend stamp duty holiday as tax break sparks housing market boom January 21, 2021 Housing transactions boomed at the end of last year driven by buyers rushing to complete deals before the stamp duty holiday deadline, putting pressure on government to extend the tax break. UK residential transactions in December were 31.5 per cent higher than the previous year, and jumped 13.1 per cent compared to November, buoyed by [...]
London’s new ‘postcode lottery’: Councils fail to pay event firms lockdown grants January 21, 2021 London event firms have slammed the process for securing essential grants, describing the task as a “postcode lottery” as the application timeline and criteria differs dramatically in each borough.
Unilever to ensure suppliers pay living wage by 2030 in new social change drive January 21, 2021 Unilever this morning set out plans to ensure all workers in its supply chain are paid a living wage by 2030 as part of a new wide-ranging social mobility agenda spurred on by the pandemic and the Black Lives Matter movement. The consumer goods giant said its ambition is “to improve living standards for low-paid [...]
