Sears caves to bankruptcy as widespread store closures loom October 15, 2018 It was once the world’s largest retailer. Now, US department store chain Sears has filed for bankruptcy, losing a fight for survival in a fresh sign of the tough retail conditions hitting high street giants. The 125-year-old company said this morning that it plans to close 142 of its 500 stores, having just recently closed [...]
Claire’s weighing up store closures amid retail woes October 15, 2018 Fashion accessory retailer Claire’s has tonight strongly denied reports that it is mulling store closures as part of a turnaround bid to revive the firm. The high street retailer’s boss said this evening that there were no plans to trigger an insolvency process – known as a company voluntary arrangement (CVA) – despite earlier reports that [...]
Nine Elms project One Embassy Gardens put on the market for £160m October 11, 2018 One Embassy Gardens, a flagship Nine Elms office block located next to the new US embassy, is being put up on the market for £160m today, as developers hope to lure in buyers for one of Europe’s largest regeneration zones. Ballymore's planned sale comes 10 months after the developer secured the tenancy of Penguin Random House, with [...]
N Brown shares plunge as ‘disappointing’ offline sales hit revenues October 11, 2018 Fashion retailer N Brown took a kicking from investors at the opening bell this morning, as its share price dived more than 20 per cent amid a “disappointing” set of results. The JD Williams and Simply Be owner revealed a drop in product revenue during the six months to 1 September, as offline sales dragged [...]
Prime central London house price growth to stay flat until 2021, thanks to stamp duty and Brexit October 11, 2018 Homeowners hoping to see a recovery in London’s high-end housing market may find themselves waiting a little longer, according to new Savills analysis that suggests growth will not return to the capital’s most expensive properties until 2021. Brexit uncertainty and a newly proposed stamp duty surcharge on foreigners is likely to “temper recovery”, with Savills [...]
UK recruitment giant Hays sees share price slip despite strong overseas performance October 11, 2018 Shares in leading recruitment firm Hays slumped more than 10 per cent in early morning trading, as a rise in net fees seemingly did little to ease investor nerves about currency headwinds and volatility in the sector’s UK market. Hays reported a nine per cent like-for-like growth in net fees in the quarter to the end [...]
Surveyors forecast fall in house prices as house buyers decline October 11, 2018 A renewed decline in the number of house buyers is piling further pressure on London’s strained property market, according to a closely followed survey out today. The Royal Institution of Chartered Surveyors (Rics) has said there was “caution” from buyers last month, as Bank of England governor Mark Carney reportedly warned prices could drop 35 [...]
EDF sets sights on being European market leader in electric vehicle charging October 10, 2018 France’s state-owned utility firm, EDF, has unveiled ambitions to become Europe’s largest provider of charging stations for electric vehicles by 2022, joining a growing volume of companies entering the electric car market in recent months. EDF boss Jean-Bernard Levy said the company was aiming to operate 75,000 charging stations across Europe by 2022, forecasting that electric vehicles [...]
Sacré bleu! Tour de France trophy stolen during UK tour October 10, 2018 Tour de France winner Geraint Thomas has made desperate appeals for thieves to return his trophy, after it was announced today that the coveted cycling prize was stolen at a show in Birmingham. The trophy, which was lent to bike maker Pinarello, was on a tour across the UK with Sky team’s other Grand Tour [...]
Ten-pin titan Hollywood Bowl Group hopes to score a strike with investors with profit growth October 10, 2018 UK ten-pin giant Hollywood Bowl Group is flirting with the idea of returning a surplus to investors this morning after revealing a rise in annual revenues in a trading update today. The bowling operator reported like-for-like revenue growth of 1.8 per cent in the 12 months to the end of September this year, adding that it expects [...]
