Unused office space ‘to cost London firms £13bn’, survey shows November 16, 2020 The shift to homeworking, accelerated by the coronavirus pandemic, could cost London businesses almost £13bn in unused office space, according to the latest research. London office workers want to spend an average of 2.7 days per week back in the office once all coronavirus restrictions are lifted, as long as they have the resources to [...]
Cineworld shares soar on Moderna coronavirus vaccine breakthrough November 16, 2020 Cineworld’s share price soared this morning following a second coronavirus vaccine breakthrough on hopes that an end to the pandemic could save the struggling entertainment firm. The cinema chain’s stock rose as much as 21 per cent after US biotechnology company Moderna announced that early data suggested that its Covid-19 vaccine is 94.5 per cent [...]
All Bar One and Toby Carvery owner Mitchells & Butlers to close 20 sites November 16, 2020 All Bar One and Toby Carvery owner Mitchells & Butlers will permanently close 20 sites due to the impact of the coronavirus pandemic. The pub and restaurant chain, which also owns Harvester, O’Neills and Miller & Carter, said it had decided not to reopen the sites after assessing expected footfall and business layout. It opened [...]
UK retail footfall ‘more resilient’ in second lockdown November 16, 2020 Retail footfall has been more resilient during the second coronavirus lockdown compared to the first closure of non-essential stores in March, the latest analysis showed. Between Thursday and Saturday footfall in retail destinations rose by an average of 13.2 per cent from the same three days in the week before, when the lockdown began. Shoppers [...]
Majority of Brits sceptical of Black Friday offers, survey shows November 13, 2020 A huge majority of Brits are sceptical about Black Friday offers, believing many of the discounts are too good to be true, the latest research showed in the run up to the annual sales day. Black Friday has become one of the biggest shopping days of the year, and will be of particular importance to [...]
JD Sports’ merger with Footasylum edges nearer after appeal November 13, 2020 The competition watchdog’s decision to block a merger between JD Sports and Footasylum has been overturned following an appeal. The Competition Appeals Tribunal said today that the Competition and Markets Authority had acted “irrationally” when it ruled in May that the tie-up would lead to a “substantially” lessening of competition nationally. The tribunal ruled that [...]
Caffe Nero seeks rescue deal due to second coronavirus lockdown November 13, 2020 Caffe Nero has launched a restructuring plan to reduce costs due to the impact of the coronavirus pandemic on the coffee chain’s branches in city centre and transport hub locations. The high street cafe chain has appointed KPMG to advise on a Company Voluntary Arrangement following the introduction of a second coronavirus lockdown. City A.M. [...]
Tesco apologises to customers over Christmas delivery booking delays November 13, 2020 Tesco has been forced to apologise to customers facing delays trying to book a delivery slot for Christmas shopping following a surge in demand. The supermarket said this morning that it had placed shoppers in a “virtual waiting room” to help it manage the influx of customers trying to secure a home delivery for the [...]
Councils pile pressure on firms over unpaid business rates during pandemic November 12, 2020 Local authorities have begun to turn up the heat on businesses that have been unable to pay rates bills during the pandemic, with some pursuing claims through the courts. According to property consultancy Colliers International, an increasing number of clients are receiving letters demanding payment or court summons. Office occupiers were not granted a business [...]
First lockdown cost food and drink industry £751m a week in lost sales, research shows November 12, 2020 The first UK-wide national lockdown cost the food and drink industry £751m a week in lost revenue, according to the latest research. Out-of-home food consumption fell 36 per cent in the first half of 2020, as the closure of restaurants and cafes and the shift to remote working forced Brits to eat more meals at [...]
