American candy stores or retail hub? What might be next for Oxford Street March 19, 2023 It has been three years since the UK was plunged into its first-ever full scale lockdown – forcing the majority of stores in London’s West End to temporarily cease trading and arguably altering the state of physical retail forever. The pandemic forced once seemingly indestructible retailers such as Debenhams, Topshop, and Gap off Oxford Street, [...]
American candy stores: Calls for ‘stronger’ laws and business rate reform to clamp down on shops which blight Oxford Street March 17, 2023 Westminster City Council has called for a “stronger” economic crime bill and reform of business rates to officially bring a halt to American candy and souvenir stores which continue to litter Oxford Street. “We are dealing here with a sophisticated operation which is skilled at exploiting UK legal loopholes,” Cllr Adam Hug, leader of Westminster [...]
Mike Ashley’s Frasers Group snaps up Luton mall in £58m deal March 17, 2023 Mike Ashely’s Frasers Group has snapped up The Mall in Luton in a £58m deal as the retail giant expresses its “confidence in the future of the UK high street”. The Mall in Luton spans 900,000 sq. ft of space and is home to more than 150 retailers including Primark, TK Maxx, and H&M. It [...]
Ann Summers boss Jacqueline Gold dies aged 62 March 17, 2023 Jacqueline Gold the boss of lingerie brand Ann Summers has died aged 62, her family has said. Heartfelt tributes have been paid to the businesswoman who passed away on Thursday evening following a seven-year battle with cancer. She was heralded as a “brilliant retailer and champion of champion of women in business”, as her family [...]
Brexit: Hospitality sector slams Government’s decision to exclude overseas restaurant and bar workers in shortage occupancy lists March 17, 2023 Hospitality figures have described the government’s decision to not include overseas restaurant and bar workers in its shortage occupation list as “disappointing” as the sector claims that ongoing labour shortages are “crippling” businesses. “Ongoing labour shortages are crippling hospitality businesses, forcing them to reduce their hours and costing the industry billions in lost trade,” Kate [...]
Explainer: Why Waitrose is no longer the jewel in the John Lewis crown and how the group’s future may lie in property, not produce March 17, 2023 Times are tough for John Lewis as chair Sharon White admitted when the high street stalwart this week announced it had made a £234m loss in 2022. The sum was worse than market expectations and marked the second year the upmarket retailer had gone into the red. In a sympathetic letter addressed to the company’s [...]
TikTok denies Chinese state collusion after UK government bans social media app use on devices March 17, 2023 Chinese-owned company TikTok has said it is “disappointed” by the government’s decision to ban the social media app on MPs’ phones. The social media video app has been at the centre of security and data protection concerns in recent weeks – with Cabinet Office minister Oliver Dowden announcing the decision in parliament yesterday. Speaking yesterday [...]
New ‘metaverse’ themed co-working space opens on Oxford Street March 16, 2023 A new co-working space has today launched in Oxford Street which will be themed around the ‘metaverse’ and help to bring creatives and investors into one space. Office and workspace company Huckletree, which operates across some of the biggest cities in the UK, has opened London’s first dedicated hub for tech companies pioneering new digital [...]
John Lewis blames ‘pain of inflation’ for £234m loss and admits it will not be paying partner bonuses March 16, 2023 John Lewis Partnership has blamed shoppers feeling the “pain of inflation” and a write down in the value of its Waitrose stores for its second year of losses in a row. For the year ending January, the middle class favourite, which owns John Lewis department stores and grocery chain Waitrose, posted a loss of £234m [...]
Deliveroo shares slide as £1.9bn reported revenue fails to bolster market confidence in food delivery favourite March 16, 2023 Deliveroo shares have continued to pedal downwards this morning as investors struggle to regain confidence in the brand following its decision to slash some 350 job roles and disastrous IPO listing. It comes as the food delivery group, which has seen its share price fall consecutively over the past 12 months due to tough market [...]