Sainsbury’s to forgo business rates relief December 3, 2020 Sainsbury’s has decided to forgo the business rates relief on its stores granted by the government since March. Lockdown restrictions have remained in place for longer than originally expected and throughout the pandemic all Sainsbury’s stores have been deemed essential retail. Almost all have been open and trading strongly, with the exception of a small [...]
Lockdown batters UK footfall but retailers hope for Christmas boost December 3, 2020 Retail footfall plummeted in November amid the closure of non-essential shops, though the decline was less severe than the first lockdown earlier this year. Visitor numbers were down more than 51 per cent year on year last month as tighter Covid-19 restrictions took their toll on the high street. The decline was steeper than the [...]
Shop prices dip as desperate retailers discount to attract customers December 2, 2020 Shop prices dipped last month as retailers discounted to encourage consumer spending in the run up to Christmas, which was disrupted by store closures during the second coronavirus lockdown. Prices fell 1.8 per cent in November compared to a 1.2 per cent decline in October, driven by a surge in discounting of non-food products such [...]
Bonmarche hires administrators in further blow to UK high street December 2, 2020 Budget fashion retailer Bonmarche has fallen into administration for the second time, putting 1,500 jobs at risk, in a further blow for the UK high street after days of grim announcements. RSM Restructuring Advisory has been appointed as administrator to BM Retail Limited, which operates the Bonmarche brand from 225 stores in the UK. No [...]
Tesco to pay back £585m in emergency support with pandemic risks ‘behind us’ December 2, 2020 Tesco this morning said that it would pay back £585m of business rates relief it received to protect it from the impact of the coronavirus pandemic. The supermarket said that paying back the emergency funding was “the right thing to do”, adding that some of the risks from the pandemic were now behind it. In [...]
From today London is in Tier 2: Do you know all the new rules? December 2, 2020 The covid-19 restrictions have been strengthened since before the lockdown, so what are the new rules for work, home and socialising now that London's in Tier 2
Tis the season for retailers to rethink the Christmas chaos December 2, 2020 Today, Wednesday 2 December 2020, is likely to be like no other for retail. A month after many retailers were obliged to close at the very moment they would be expecting to enjoy their busiest time of year, and with just three weeks to go before the big day — Christmas — itself, they are [...]
Cath Kidston returns to the high street with flagship Piccadilly store December 2, 2020 Cath Kidston has this morning opened a flagship store in Piccadilly, which will be its only physical branch after the retro-inspired retailer fell into administration earlier this year. The retailer closed all of its 60 UK stores in April, resulting in the loss of 900 jobs, after its Hong Kong private equity owner Baring appointed [...]
Covid-19 brings Arcadia into administration, but Topshop’s brand has struggled for years December 2, 2020 Retail group Arcadia, owner of British high street giants Topshop and Dorothy Perkins, hired administrators this week after the coronavirus pandemic “severely impacted” sales. The retail empire, which is owned by controversial businessman Sir Philip Green, failed to secure extra funding to pay its debts despite the Black Friday sales period. While the pandemic created [...]
Landlords approve Caffe Nero rescue deal December 1, 2020 Landlords have approved Caffe Nero’s rescue deal, allowing the coffee shop chain to renegotiate rental agreements for its 800 UK stores. The company said this afternoon that more than 90 per cent of creditors, including landlords, had given the green light to the company voluntary arrangement (CVA) proposals. It will allow Caffe Nero to move [...]