Coronavirus live: Social distancing needs to be in place for most of a year, say government advisers March 20, 2020 1.35pm: Social distancing measures need to be in place for “most of a year” Scientists advising the government have said social distancing measures need to be in place for “at least most of a year” to combat the coronavirus outbreak. In a press conference last night, Prime Minister Boris Johnson said the UK could “turn [...]
Coronavirus: Wetherspoon scraps dividend and warns on profit March 20, 2020 Wetherspoon boss Tim Martin has scrapped the pub chain’s dividend and issued a profit warning after Boris Johnson urged Brits not to visit pubs and restaurants amid the UK coronavirus outbreak. A rapid escalation in UK coronavirus cases has already seen a 4.5 per cent decline in Wetherspoon pub sales in the week to 15 [...]
City of London Corporation offers rent relief for tenants March 19, 2020 The City of London Corporation has adjusted rent conditions for some of its commercial tenants to provide financial relief during the coronavirus outbreak. The local authority, a major commercial landlord, is changing rental payments for March to June to monthly billing for directly managed premises instead of quarterly billing. In a statement, the Corporation said [...]
TfL to shut 40 Tube stations as Londoners told ‘don’t travel’ over coronavirus March 19, 2020 As many as 40 Tube stations are set to close today as London attempts to curb the spread of coronavirus across the capital. Transport for London (TfL) announced the partial shutdown of the Tube late last night, warning passengers it will come into effect from this morning. “Up to 40 London Underground stations that do [...]
Pizza Express agrees £70m loan facility March 18, 2020 Pizza Express has agreed a £70m loan with HPS Investment Partners amid a difficult time for casual dining chains as customers were advised to avoid eating out to stop the spread of coronavirus. The new super senior facility agreement will be used to repay in full and cancel its £20m existing revolving credit facility and [...]
Seven firms suspend UK property funds as virus casts uncertainty over assets March 18, 2020 Aberdeen Standard Investments and BMO have joined five other firms who have suspended their property funds after independent valuers introduced material valuation uncertainty clauses due to the coronavirus outbreak. The UK commercial property market is facing unprecedented challenges brought on by the pandemic. Valuation firms are now saying that they can no longer make reliable [...]
Selfridges shuts after London staff test positive for coronavirus March 18, 2020 Luxury department store Selfridges has closed its doors after three members of staff contracted coronavirus. The retailer, which yesterday said it was planning to cut hours, announced this morning that its four stores across London, Birmingham and Manchester will close this evening. This morning the department store said that three employees at its flagship Knightsbridge [...]
Wagamama owner Restaurant Group warns of huge coronavirus sales hit March 18, 2020 The owner of restaurant chain Wagamama today warned the coronavirus crisis will almost halve its sales over the first six months of 2020. Restaurant Group told investors to prepare for a 45 per cent plummet in sales for the first half of the year due to UK measures to contain Covid-19. The government has warned [...]
Crown court trials to be suspended after lawyers push back on health fears March 17, 2020 Crown court trials expected to last longer than three days have been put on hold due to the coronavirus outbreak after sustained pressure from lawyers. Tonight, the Lord Chief Justice released a statement announcing the adjournment of all cases of this length expected to begin in April. The move came after the head of the [...]
Guinness owner Diageo launches fund to prop up pub staff wages March 17, 2020 Guinness owner Diageo has launched a £1m fund to support bar staff wages as pubs across the UK teeter on the brink of collapse due to coronavirus. The community fund will help some pubs and bars to pay a proportion of staff wages if they are forced to close as customers are urged to stay [...]