Revolution Bars taps investors for £15m to cut debt during coronavirus crisis June 5, 2020 Revolution Bars is preparing to tap investors for £15m to slash debt and help it weather the coronavirus crisis while its venues are closed. The chain, which was forced to close its 74 bars when the government imposed a coronavirus lockdown in March, said the proceeds will be used to “achieve an appropriate level of [...]
Housebuilder Taylor Wimpey reports surge in demand after sales centres reopen June 5, 2020 Housebuilder Taylor Wimpey reported a “very high” level of demand for appointments at its sale centres and show homes after reopening last month. The development company said the majority of its show homes and sales centres in England had reopened after the government lifted restrictions on the UK housing market. Since sales centres reopened there [...]
Consumer confidence hovers near record low during coronavirus crisis June 5, 2020 Consumer confidence continued to teeter on the brink of hitting record lows during the ongoing coronavirus crisis. Consumer confidence dipped two points to minus 36, just three points above the record low of minus 39 reported in July 2018, as house prices fell and unemployment rose. However, GfK’s major purchase index rose six points, showing [...]
Debenhams reveals first UK stores to reopen this month June 4, 2020 Debenhams has revealed which UK stores are set to reopen when lockdown restrictions are eased for retailers later this month. The department store chain said three Northern Ireland stores. Including the Belfast flagship shop, will open on 8 June. A further two stores will open in Northern Ireland shortly after. In England, 50 stores will [...]
LVMH explores impact of coronavirus on Tiffany deal terms June 4, 2020 Louis Vuitton owner LVMH has moved to dispel speculation that its acquisition of jewellery brand Tiffany & Co is on the brink of collapse, but confirmed that it has discussed the impact of coronavirus on the deal. LVMH agreed to buy Tiffany last year for $16.2bn. However, LVMH has reportedly been planning to try and [...]
Loungers expands takeaway service as restaurant chain gears up for July reopening June 4, 2020 Cosy Club owner Loungers will expand its takeaway service next week as the cafe and restaurant chain gears up to reopen in July. The company, which also owns the Lounge chain, has opened 17 sites for takeaway and will open a further 10 Lounge sites over the next week. Loungers said it could open more [...]
Pub chain Young’s eyes August reopening date June 4, 2020 Pub chain Young’s announced this morning that it is preparing to reopen its venues on 3 August. The company said the coronavirus pandemic had a significant impact on its full year results to 30 March, with pubs forced to close for the final 10 days of the financial year. The closure of its pubs, and [...]
Marks & Spencer scraps executive bonuses due to coronavirus pandemic June 3, 2020 High street retailer Marks & Spencer said it will scrap executive bonuses next year due to the coronavirus crisis. The firm said today that there will be no bonus scheme in operation for executive directors in 2020/21. M&S also said that the pay of chief executive Steve Rowe will be frozen, and there will be [...]
Italy opens borders to European tourists as coronavirus lockdown lifts June 3, 2020 Italy has reopened its borders and lifted restrictions on domestic travel, offering some hope for the country’s vital tourism industry. Travellers from within Europe will be able to enter Italy without going into quarantine from today. International flights will land at Milan, Naples and Rome airports. Italy, which has reported more than 33,000 deaths related [...]
Bulmers owner C&C burns through €7m a month while pubs are closed June 3, 2020 C&C Group, the owner of Bulmers and Magners cider, revealed this morning that it is burning through €7m (£6.2m) each month that pubs and restaurants are closed. C&C, which makes 80 per cent of its revenue through sales to pubs, bars and restaurants, also reported €47.6m in exceptional items directly related to the coronavirus outbreak. [...]
