‘I told staff to delete the app’: Hospitality reacts to pingdemic crisis July 20, 2021 While the government was hailing the arrival of so-called “freedom day” yesterday, the threat of rising Covid cases and the “pingdemic” forcing staff to self isolate has left the beleaguered hospitality industry with little to celebrate. One restaurateur told City A.M: “Our ability to operate hangs in the balance by some fairly crude geolocation tech”, [...]
Fizzy mixer brand Fever-Tree sees European revenues surge as holiday spots bolster stocks July 20, 2021 Fever-Tree has seen its European revenues surge outside of the UK as hospitality destinations bolstered stock in anticipation of summer holiday goers. However, ongoing travel confusion and ‘Freedom Day’ fears may have knocked investors faith – as it saw its shares plummet 7.10 per cent this afternoon, dragging its total share price to 2,276. The [...]
“E-commerce winner” Virgin Wines confident in post-pandemic sales July 20, 2021 Wine subscription service Virgin Wines raised its annual financial forecasts as a result of strong customer demand, it told markets this morning. Their customer base grew by 24 per cent in the previous 12 months. The pandemic saw people at home stock their bars and fridges causing increased demand in alcoholic products over lockdowns, as [...]
Exclusive: ‘Pull the plug on test and trace and delete the app’, says Pimlico Plumbers chief Charlie Mullins July 16, 2021 This week, more than half a million people were pinged by the NHS Test and Trace app, the highest figures ever. A total of 520,194 notifications were sent out, informing the app’s users that they had been in close contact with someone who had tested positive for coronavirus. People must isolate for 10 days, leading [...]
Just Eat acquires Slovakian food delivery as global expansion continues July 16, 2021 Just Eat Takeaway has announced it will acquire Bistro.sk, a food delivery company in Slovakia, as it expands its global footprint. The deal, approximately valued at €50m, is expected to close later in the year. The Slovakian business operates in a similar format to Just Eat. Its 400,000 customers choose food, from the 2,000 or [...]
Exclusive: London workers flood back to the office ahead of freedom day July 15, 2021 Workers in London are already returning to the office in their droves ahead of the lifting of all Covid restrictions on 19 July. Research shared exclusively with City A.M. by Land Sec shows 70 per cent of London office workers are already coming into the office at least one day a week. Read more: So [...]
Ultimate Products to take over Salter and Heston Blumenthal partnership July 15, 2021 Britain’s oldest houseware brand Salter is set to be snapped up by London-listed Ultimate Products as consumers fell back in love with home cooking over lockdown. The deal is expected to be completed by 19 July and will cost Ultimate Products (UP) some £32m in cash. UP, which turned over £115.7m last year, will take [...]
Exclusive: Soho Street Cocktails raises fresh funds with two supermarket chains running trials July 15, 2021 Pre-mixed drinks maker Soho Street Cocktails is raising a new round of funding through private equity firm Growthdeck, City A.M. can reveal. The funds raised through Growthdeck will be used for Soho Street Cocktails’ core strategy of growing sales through retailers and in bars and restaurants, as well as continuing to increase its production. Soho Street Cocktails sells pre-mixed, bar-quality cocktail pouches to [...]
Food strategy review calls for £3bn sugar and salt tax July 15, 2021 The UK could introduce a new £3bn tax on sugar and salt as part of a string of reforms aimed at improving the health of the nation and helping to tackle climate change. A government review by Leon co-founder Henry Dimbleby published today said Covid had provided a “painful reality check” and warned that poor [...]
Pizza Express toasts ‘strong’ reopening as it seals £335m refinancing July 8, 2021 Pizza Express today hailed “strong” trading after reopening its restaurants following lockdown as it sealed a £335m refinancing deal. The pizza chain today confirmed it had concluded its long-term financing plan, consisting of five-year bonds, and was now a “fitter” company after emerging from Covid lockdowns. It comes after a challenging year for the restaurant [...]