LVMH to launch ‘vigorous’ defence against Tiffany lawsuit over $16bn merger September 10, 2020 Louis Vuitton owner LVMH said it will defend itself “vigorously” against a lawsuit filed by Tiffany & Co, which was launched after the luxury goods giant pulled out of a $16bn deal to acquire the jeweller. Tiffany yesterday said it would sue LVMH to force it to complete the merger after the French conglomerate announced [...]
The Hut Group confirms £4.5bn stock market listing September 10, 2020 The Hut Group has confirmed it is set to price its initial public offering at £5 per share, valuing the e-commerce retailer at £4.5bn The £920m float will make it the largest listing of a British company since 2013. The Hut Group will list at least 20 per cent of its stock. It is also [...]
Fuller’s sales rebound after Eat Out to Help Out brings customers back to pubs September 10, 2020 Pub chain Fuller, Smith and Turner said sales had reached 80 per cent of last year’s levels after trade was buoyed by the Eat Out to Help Out scheme. Fuller’s said the discount scheme had encouraged customers to return to the pub after lockdown, “reinstating it in their routine”. Stronger trading in suburban and countryside [...]
Back to work: Half of Londoners miss socialising with colleagues, survey finds September 9, 2020 Half of Londoners have missed socialising with their colleagues while they have been working from home during the coronavirus pandemic, a survey has found as more staff return to offices. Many employers are seeking to permanently embrace home working after lockdown forced offices to close. However 49 per cent of London-based office staff have missed [...]
Fashion retailer Quiz closes 15 UK stores after coronavirus lockdown September 9, 2020 Fashion retailer Quiz has announced it will permanently close around 15 stores in the UK following the UK coronavirus lockdown. The company is only planning to reopen around 60 of its 75 stores. It has reopened 48 sites since non-essential retailers were given the go-ahead to trade in June. Quiz has also reduced the number [...]
Pandemic pushes retail job losses to 125,500 this year September 9, 2020 More than 125,500 retail jobs have been lost so far this year as the coronavirus pandemic accelerated changes on the struggling UK high street. Nearly 15,700 roles were lost every month, while 13,867 shops have closed down across the UK this year. Small independent retailers shed 32,598 jobs between 1 January and 31 August, while [...]
Lawsuit at Tiffany’s: Jeweller sues LVMH over delayed $16bn merger September 9, 2020 Tiffany & Co has launched legal action against Louis Vuitton owner LVMH after the luxury goods giant said it would walk away from a $16bn deal to buy the jewellery firm. Tiffany has filed a lawsuit seeking to force LVMH to complete the merger after the French conglomerate announced this morning that it could not [...]
Pizza Hut to close 29 restaurants, putting 450 jobs at risk September 9, 2020 Pizza Hut has announced plans to close 29 restaurants in the UK, putting 450 jobs at risk. The fast food chain is the latest firm to launch a company voluntary arrangement (CVA) during the coronavirus pandemic, as it seeks to cut rents and exit loss-making stores, according to reports. Pizza Hut Restaurants, which is separate [...]
Thousands sign petition for ‘seat out to help out’ theatre discount scheme September 9, 2020 Thousands of people have signed a petition calling on the government to introduce a “seat out to help out” scheme to support the theatre industry. The petition proposes that for every seat sold for a live performance, the government could pay £10 for an empty seat. More than 44,000 people have lent support to the [...]
New Look urges landlords to back restructuring plan after failing to find buyer September 9, 2020 New Look has urged its landlords to back its restructuring plans after the struggling high street retailer failed to attract a buyer. The company said this morning that some parties had expressed an interest in certain New Look assets, however no bid was received for the firm. New Look’s landlords and other creditors will now [...]
