US hedge fund to refinance Superdry with £70m package November 27, 2022 US hedge fund Elliott Advisors is set to refinance Superdry with a £70m funding as the clothing company is due to repay its debts early next year. Advised by PwC, Superdry is in talks with Bantry Bay – a London-based fund backed by Elliott – to ensure the new asset-backed lending facility before the January [...]
Busiest Black Friday on record as Brits make the most of sales in cost of living crisis November 26, 2022 This year’s Black Friday was the busiest on record, as Brits look to make the most of deals amid the cost of living crisis. The number of purchases jumped on Friday, up 10 per cent in comparison with last year, according to data from Nationwide today. The rate of spending has risen more than a [...]
Tesco invests further £14m into egg industry as avian flu sparks rationing November 26, 2022 Tesco is leading the charge in supporting egg suppliers, as British supermarkets begin rationing egg sales amid an outbreak of avian flu. Egg farmers in the UK have been wrestling with an outbreak of avian flu, on top of soaring inflation which has ramped up the price of feed and energy. Tesco has set aside [...]
Nine pub chiefs plead with Mick Lynch to call off strikes and avert ‘devastating’ impact November 25, 2022 The chief executives of nine major pub and bar chains have written to rail union boss Mick Lynch pleading with him to call off strikes and to not unleash a “devastating” impact hospitality. The heads of Fuller’s, Young’s, Drake & Morgan and the City Pub Company were among those appealing to the RMT leader today. [...]
Nightcap: Cocktail group urges RMT to move rail strikes in exchange for free drinks November 25, 2022 The owners of UK cocktail group Nightcap have called on the union RMT to switch the rail strike dates in exchange for free drinks. Co-founders Sarah Willingham and Michael Toxvaerd – who own the likes of Cocktail Club, Barrio and the Adventure Bar Group – pleaded with the RMT to move their planned walkout from [...]
Primark to invest £140m in new stores and upgrades creating 850 new jobs November 25, 2022 Primark is to invest £140m in new stores and the creation of 850 new jobs across the UK. The low-cost retailer will create at least four new outlets in the next two years, while upgrading and refurbishing existing stores, over a two year process. This comes as the the UK retail sector continues to struggle [...]
Black Friday: Cash-strapped shoppers look to snap up Christmas bargains before cutting back November 25, 2022 Cash-strapped shoppers will take advantage of Black Friday discounts this weekend as they try to make Christmas special, before tightening their belts as the UK enters into a recession. While retailers may see a temporary boost in sales this weekend, shoppers will pull forward Christmas spending rather than “buying twice” as in previous years, Hargreaves [...]
Consumer protection groups: Social media needs to do more to block Black Friday fakes November 24, 2022 Consumer protection groups have called on social media to do more to block fake Black Friday deals as hundreds of counterfeit items are removed from Instagram. Facebook’s owner Meta and the Trading Standards said it had removed hundreds of items from the app in the run up to tomorrow’s sale. Items included potentially dangerous chargers [...]
Workers supplying KFC, Burger King and Greene King latest join to picket line November 24, 2022 Hundreds of workers who deliver food to chains like Burger King and KFC are to walk out this winter, as well as employees who brew and distribute Greene King drinks. Workers for the food delivery firm behind KFC, Burger King, Pizza Hut and Wagamama are set to strike over a pay dispute, GMB union bosses [...]
Oxford Street to welcome fashion brand Reserved amid revamp of retail district November 24, 2022 London’s Oxford Street is welcoming a new retailer to the block, as fashion brand Reserved has signed up for its second London store. GPE, formerly Great Portland Estates and one of the biggest property leasers in the capital, has signed a letting with Reserved for a more than 19,600 square foot space, which is expected [...]