River Island to axe 250 head office roles July 7, 2020 River Island is reportedly preparing to slash 250 head office roles as the retailer seeks to cut costs after sales plummeted due to the coronavirus pandemic. The high street brand is the latest retailer to make job cuts after stores were forced to close across the UK during the coronavirus lockdown. River Island will reportedly [...]
Pret A Manger to close 30 stores after lockdown, putting 1,000 jobs at risk July 6, 2020 At least 1,000 jobs are understood to be at risk at Pret A Manger as it prepares to close 30 of its shops following a brutal lockdown. Pret has said it has suffered “significant operating losses” during the UK-wide shutdown of non-essential shops since late March. And while it has reopened 339 of its 410 [...]
Uber Eats orders skyrocket 160 per cent in lockdown June 29, 2020 Orders on Uber Eats have jumped significantly since lockdown began, rising by over 160 per cent as the UK turned to food delivery apps to replace the high street. The number of new restaurants on Uber Eats’ UK platform has almost doubled in the last four months to a total of 17,000, as smaller independent [...]
Retailers pay less than 15 per cent of rent for June quarter as property crisis deepens June 25, 2020 Britain’s retailers paid just 13.8 per cent of their rent for the last quarter, in a sign of how hard the coronavirus pandemic has hit the sector. Rent receipts on 24 June, the day commercial tenants’ payments were due for the quarter, were even lower than those three months ago, according to commercial property management [...]
Fears for jobs at Pret A Manger after ‘leaked video reveals sales downturn’ June 22, 2020 A leaked video revealing how Pret A Manger’s sales have plummeted throughout the coronavirus lockdown has prompted fears that job cuts could be on the cards at the sandwich chain. In the clip, Pret boss Pano Christou told staff in an online meeting that an announcement about the “job situation” would be made on 8 [...]
Government extends anti-eviction measures for businesses June 19, 2020 Commercial landlords will be unable to evict struggling companies until the end of September, after the government extended anti-eviction measures. The move comes as part of the government’s support package for companies hit by the coronavirus pandemic. The suspension of the forfeiture of evictions will come as a relief in particular to pubs, cafes and [...]
Restaurant bosses call for VAT cut as dining out sector braces for difficult return to business June 16, 2020 Restaurant industry bosses have today urged Boris Johnson to take drastic action, including slashing VAT on the food they serve, to help the struggling sector survive the effects of coronavirus. In a letter signed by the bosses of 90 major chains, Deliveroo founder Will Shu said that the government should also extend its job retention [...]
Which cafes and restaurants are reopening as the coronavirus lockdown lifts? June 10, 2020 After two months of coronavirus lockdown, Britain’s high streets are waking up again. From Pret to Pizza Express, cafes and restaurants across the country are working out how to restart their businesses. So what chains can customers expect to open up again on Monday, when so-called non-essential businesses are allowed to make their long-awaited return? [...]
The City View: Put it in your diary, City A.M. is returning to print June 1, 2020 In this episode, after a bit of diary confusion deprived the show of a guest, Christian chats briefly about the plan to return City A.M. to print on Monday 7 September after the pandemic triggered a temporary suspension of the print operation. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Christian also looks at the latest proposals [...]
Pret a Manger set for crucial rent talks with landlords May 31, 2020 Fast food chain Pret a Manger is preparing for rent talks with its landlords in a bid to stave off closing some stores due to the coronavirus crisis. The chain, a favourite of office workers around the UK, is preparing for a shift in footfall in city centres as working patterns shift due to the [...]