More retail job losses forecast unless office workers return, industry warns September 4, 2020 More store closures and retail job losses are expected unless office workers return and consumers are encouraged to visit city centres, a retail industry body warned this morning. Despite an uptick in footfall in the final week of the month due to back to school shopping and the final days of the Eat Out to [...]
London retail closures drive UK vacancy rate to six-year high September 3, 2020 Retail store vacancies have risen to the highest level in more than six years due to a swathe of closures during the coronavirus pandemic, with London faring the worst out of all UK regions. The UK vacancy rate climbed to 10.8 per cent in July from 9.8 per cent in January, taking it to the [...]
London theatres call for ticket discount scheme to revive West End September 2, 2020 London’s theatres have backed calls for the government to fund a discount scheme similar to the Eat Out to Help Out offer to encourage audiences to return to the West End. The Centre for London, a think tank focused on the capital, has urged the government to introduce culture vouchers to bring visitors back to [...]
Camden Market teams up with Curzon to launch new pop-up cinema September 2, 2020 Camden Market will host a pop-up cinema in its North Yard to help entice visitors back to the historic market. Labtech, owner of Camden Market, has signed a deal with for a pop-up cinema that will premiere on 16 September. The pop-up cinema has room for 150 viewers and will operate seven days a week until [...]
Spending in UK restaurants jumped 34 per cent on Eat Out to Help Out days September 2, 2020 Spending in UK restaurants and fast food outlets was up 34.2 per cent on Mondays, Tuesdays and Wednesdays in August, compared to the same days in July during the government Eat Out to Help Out scheme. Wednesdays experienced the biggest increase during Eat Out to Help Out, as spending grew 39.7 per cent month-on-month, according [...]
Can office workers save the day for local businesses ravaged by Covid-19? September 2, 2020 The sudden shift to remote working put in place by the majority of UK businesses may herald the end of the office, at least as we know it. Five months and multiple government campaigns later, and the shift to the kitchen table continues, seemingly unabated. According to a survey from US bank Morgan Stanley, just [...]
Retail footfall jumps as consumers get their fill of Eat Out to Help Out scheme September 1, 2020 Footfall across the UK’s retail destinations rose six per cent last week as consumers rushed to take advantage of the last full week of the Eat Out to Help Out initiative. According to retail analysts Springboard, footfall increased across all three types of shopping destination, giving the sector its best week since the end of [...]
The City View: Wework’s Mathieu Proust on the future of the office September 1, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Today Andy Silvester steps in for Christian May, and talks to Wework’s UK boss Mathieu Proust. The property firm’s chief offers his opinions on the value of office space and flexibility, the future of London as a global hub and the outfit’s plans to rebound from a dire 2019. [...]
Moss Bros calls on KPMG to help with restructuring plans August 30, 2020 Menswear retailer Moss Bros is heading towards a restructuring that could result in the closure of some of its stores and rent reductions on others. Moss Bros has reportedly called in KPMG, according to the Sunday Times, which could pave the way for a company voluntary arrangement (CVA). A CVA allows companies to settle debts [...]
BP to sell London headquarters as work patterns shift August 30, 2020 BP is reportedly planning to sell its headquarters in central London, becoming the latest employer to signal a permanent shift in its working patterns. The oil giant employs 6,500 staff across its offices in the capital and in Sunbury-on-Thames in Surrey. It plans to rent back the building from the new owner for up to [...]