Retailers demand scrapping of ‘£2bn’ waste strategy policy amid fears it will increase consumer costs February 24, 2023 The UK’s largest retailers are urging the government to scrap its waste strategy policy, or risk forcing prices up for consumers who are already facing a cost of living crisis. A draft letter obtained by Sky News, which it is understood will be sent to government officials next week, outlines industry concerns about the costs [...]
Embattled Love Hemp dragged out of weeds by ‘special purpose’ CBD investor for undisclosed sum February 23, 2023 Embattled CBD brand Love Hemp has been rescued from collapse, weeks after the cannabis firm was forced to draft in administrators amid plummeting sales. The group, which has been promoted by boxer Anthony Joshua, was acquired for an undisclosed price by Portillion SPV1 Limited. The group has been recently founded by Kamran Sattar, the chief [...]
Inflation bites into profits of Actimel owner Danone with sales up 13 per cent to £23.7bn February 22, 2023 French food giant Danone, producer of Actimel, has reported a full year increase in sales but admitted that soaring inflation and a hike in costs had impacted its profit margin. The food manufacturer said sales increased to €27.7bn (£23.7bn) in 2022, up 13.9 per cent on a reported basis and 7.8 per cent on a [...]
Next: Share price up for luxury interior brand Sanderson Design after £2.6m licensing deal February 22, 2023 The share price of luxury interior furnishings group Sanderson Design skyrocketed 12 per cent to 132.7pt this morning, after a £2.6M licensing agreement with London listed retailer Next was announced. The group will sell its Clarke & Clarke products, which includes wallpaper and rugs, in Next’s online and physical stores, with the deal meaning a [...]
Last orders? Pubs ‘won’t stay afloat’ without energy bill help in Spring Budget, hospitality bosses warn February 22, 2023 The hospitality sector has urged that many businesses “wont stay afloat” if the government does not look to provide extra support with soaring energy bills in its upcoming spring budget. “The steep increase in utility costs is having a significant impact on our business, it’s now one of the largest cost to manage,” Simon King [...]
Migration Museum gets new home in Square Mile as refugee developer stumps up 60-years rent-free space February 21, 2023 A multi-million pound development in the Square Mile will give a new home to the Migration Museum and provide hundreds of affordable apartments. 65 Crutched Friars near Tower Hill will be transformed into a 21-storey state-of-the-art site and has been granted 60-years rent-free space by the developer. Dubbed “Britain’s gateway to the world for thousands [...]
Shareholder spat at The Restaurant Group hots up as investors demand improvement February 21, 2023 The Restaurant Group (TRG) came under increasing pressure today after its second largest shareholder, Oasis, doubled down on its demands to immediately improve the firm’s struggling share price. Oasis, which has a 6.5 per cent stake in TRG, has argued that the chain needed an “immediate” change of governance because it had “one of the [...]
Lush embroiled in legal battle with former boss over £216.8m share sale February 21, 2023 In response to the claims, Lush, who has over 100 stores in the UK said that its board had "no choice" but to refuse the transfer.
Brits flocked back to hotels in post Covid rebound as Holiday Inn owner’s revenue up 34 per cent February 21, 2023 Holiday Inn owner Intercontinental Hotels Group experienced a strong post-pandemic rebound, with revenues up 34 per cent in 2022 as consumer demand for hotels soared. The group, which has over 50 hotels across London, posted total revenues of $3.bn (£3.22bn) in the year ending December 2022, up 34 per cent from $2.90bn (£2.41bn) in the [...]
Sainsbury’s cuts prices as supermarkets battle to provide cheap food in cost of living crisis February 20, 2023 Sainsbury’s has become the latest British supermarket to try and reduce the price of their products, after it revealed it will launch discount £2 fruit and vegetable boxes. Sainsbury’s said that its ‘Taste Me, Don’t Waste Me’ boxes will include a variety of surplus fresh fruit and vegetables with the boxes being sold at a [...]