Landsec books nearly £200m loss as it shrinks presence in London November 15, 2022 British property investment trust Land Securities, known as Landsec, has booked a nearly £200m loss over the past six months as interest rates sting. It follows a £275m profit in the same period last year, as the company retreats out of London. Landsec, one of the largest office leasers in London, has cut the capital’s [...]
Sainsbury’s now using imported Italian eggs amid ‘supply challenges’ November 14, 2022 Sainsbury’s is now importing its eggs from Italy due to a supply crisis sparked by the avian flu outbreak. The supermarket giant admitted it and other rivals are “experiencing some supply challenges with eggs”, after a report on Friday outlined the staple food had soared in price. One Twitter user shared an image of eggs [...]
Primark website crashes on first day of click and collect trial November 14, 2022 Primark’s first foray into online shopping hit a hurdle on Monday morning as the high street name’s website crashed. The budget apparel seller has launched a trial in 25 stores in north-west England and north Wales, for children’s clothes to begin with. “We’re working hard to address this to ensure that everyone can access and [...]
Administrators make millions from Debenhams’ demise November 14, 2022 Debenhams‘ administrators have made millions in fees since the department store went under in 2020. According to reports from The Times, FRP Advisory has made more than £7.2m in fees since Debenhams filed for insolvency The administrators managed the sale of the store’s brand and website to Boohoo for £55m in January 2021, and documents reveal [...]
Joules calls in administrators as rescue talks collapse November 14, 2022 Fashion and lifestyle firm Joules announced it had called in administrators and suspended trading on the London Stock Exchange this morning after emergency rescue attempts failed last week.
Egg-istential crisis: Shops ration staple as inflation, supply woes drive up price November 11, 2022 Supermarkets are rationing sales of eggs as problems with supply chains are leaving soaring prices and empty shelves. The staple food is experiencing a rise in price due to inflation and a shortage, owing in part to recent orders to house all poultry in doors due to a huge surge in avian flue. Steven Dresser, [...]
The Works sales boosted by return to school despite cost of living crisis November 11, 2022 Arts and crafts chain The Works has seen sales increase in the past six months despite the cost of living crisis, carried by a “record” ‘back to school’ season. Brits splashed the cash on new stationary for their children this year, according to The Works’ latest trading update. The cost of living crisis does not [...]
Labour calls for business rates relief in Hunt’s autumn statement November 10, 2022 Labour has called for Jeremy Hunt to provide tax relief for small businesses in his autumn fiscal statement as firms stare down rates hikes in April. Labour deputy leader Angela Rayner told City A.M. today that the chancellor “must” next week axe the planned inflation-linked increase to business rates, while calling for a complete tax [...]
B&M hopes to win long-term customers from shoppers trading down in economic crunch November 10, 2022 B&M has said it is optimistic that it would be able to retain the loyalty of shoppers who are switching to the discount retailer amid the economic downturn. The British-Luxembourg business said it was “well positioned” to reap the rewards of customers who were trading down in both grocery and non-grocery, against the backdrop of [...]
WH Smith swings back to profit as retailer eyes global expansion November 10, 2022 WH Smith is back in the black after footfall to airports and railway stations returned this year, following the opening up of society post-Covid. The high street staple posted group profit before tax of £63m for the year to the end of August, compared to a loss of £116m it booked the year previously. WH [...]