Corona Impact Series: A North London stationery brand forced to go digital December 22, 2020 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. Today: how a small paper goods chain was forced to accelerate its digital transformation. “At the start of the first lockdown we had to close our five brick-and-mortar stores pretty much overnight,” sighs [...]
Control or catastrophe? Farage, fortune, freedom and a £199 subscription December 22, 2020 For the small price of £199 a year, promises Nigel Farage, you can “take back control” of your finances. Gold, real estate trusts, even a crypto revolution – all are tickets to an independent financial future, all stamped with the Brexit Party founder’s seal of approval. Or, at least, that’s the idea. But the jury [...]
Sofa so good at DFS with sales up 19 per cent in six months December 22, 2020 Gross sales at DFS Furniture increased 19 per cent against the comparable 24-week period ending 15 December 2019, despite disruption caused by Covid-19. The furniture business’s online channel in particular grew in the 24 weeks to 13 December, with gross sales up 76 per cent on the same period last year. DFS believes it has [...]
Our ultimate guide to last-minute Christmas spirits, including our whiskies of the year December 21, 2020 Christmas may be ruined, but things always look better through the bottom of a bottle. If you were planning on stocking up on last-minute gifts before the big day, you may have to rethink. But the silver lining of this new lockdown means you can claw back a few days to pick up the ideal [...]
Naughty or nice: Which businesses pleased or peeved Santa in 2020? December 21, 2020 Which businesses stood out this year for going above and beyond for customers and staff, and which will be remembered less favourably for their pandemic policies? The last year has certainly been one that will not be forgotten. The last 12 months have been widely been touted “the worst ever” by people around the world, [...]
Nike to score sales increase on digital fitness demand in lockdown December 18, 2020 Sportswear giant, Nike are expected to report a 2.2 per cent increase in second-quarter sales profiting from the change in consumer habits during the pandemic.
Government urged to increase support for retail firms after EU State Aid rule changes December 18, 2020 The government has been urged to increase the financial support available to retail and hospitality businesses after the European Commission confirmed that the UK is able to apply a revised state aid framework. The EU said earlier this week that the UK can implement the revised Covid-19 State Aid Temporary Framework, which increased the limit [...]
Costcutter snapped up by Bestway after strong year of sales December 18, 2020 Wholesaler Bestway has bought Costcutter from Bibby Line for an undisclosed sum in a significant move in independent retail. Under the deal Costcutter will become part of Bestway Wholesale’s retail division and operate as normal. “The acquisition of CSG by Bestway Wholesale enables us to further build on our solid foundations in Independent Retail, allowing [...]
Landlords approve Leon’s rescue plan to save 670 jobs December 18, 2020 Healthy fast food chain Leon has secured backing from its landlords to implement a rescue plan which will save 670 jobs. The company announced this evening that 90 per cent of creditors approved the company voluntary arrangement proposals, which will allow Leon to switch to turnover-rents during the coronavirus pandemic. Leon’s branches, which are predominantly [...]
FTSE 100 and US stocks slip as market optimism dips December 18, 2020 The FTSE 100 fell along with European and US stocks as optimism faded on trading floors, with doubts creeping in about a US stimulus bill and fresh tensions with China. London’s main stock index was down 0.2 per cent in the afternoon session to 6,539 points. The FTSE 250, which is more domestically focused, fell [...]