Bidding war for Morrisons heats up as US private equity giant makes £7bn move August 20, 2021 A fresh £7bn bid for supermarket chain Morrisons has been put forward by US private equity firm Clayton, Dubilier & Rice (CD&R). The deal has been unanimously accepted by the board of the grocer and directors have said shareholders should vote in favour of the takeover at a meeting due in early October. It means [...]
Britain 2030: Writing off the high street is unambitious; its future is bespoke, local and community-driven August 20, 2021 After years of decline, the Covid-19 pandemic further hammered the high street, leading to boarded up shops and mass job losses, and some to declare the high street “dead”. But writing off the high street could prove to be unambitious, as, with the help of local government and private stakeholders, the post-pandemic high street could [...]
Londoners ‘disgusted’ by fashion industry abuses but lack money to shop ethically August 19, 2021 London consumers feel strong negative emotions about fashion industry exploitation, and that they want the industry cleaned up so they can enjoy shopping without guilt. More than two-thirds (68 per cent) of Brits taking part in a new survey that was shared with Morning Wire felt either ‘disgusted’ ‘sad’ or ‘angry’ about the fact that [...]
Fresh landscape: Marshalls financials climb past pre-pandemic levels August 19, 2021 The financials at landscaping products group Marshalls have begun to surpass pre-pandemic levels, after the group watched operating profits collapse amid lockdown last year. Revenue hit £298.1m in the six months to 30 June, inching past the £280.1m it recorded in 2019. The group posted a profit before tax of £38.9m as it again surpassed [...]
Brits abroad: M&S to sell Percy Pigs and other classic products to over 150 countries August 18, 2021 M&S has teamed up with export platform British Corner Shop to sell 800 of its classic food products, including Percy Pig sweets and Luxury Gold Teabags, in an effort to recover its struggling business through online sales. It comes after the British retailer reported a significant annual loss in May, as pandemic store closures weighed [...]
Home office hazards: Shoffices and pizza oven related fires jumped during lockdown August 18, 2021 Insurer Zurich has warned that outbuilding fires – in sheds, garages and conservatories – rose by 16 per cent last year when national lockdowns resulted in a surge in people turning their sheds into offices, or ‘shoffices’. New data revealed through freedom of information requests by insurer Zurich to UK fire authorities have shown that [...]
Franco Manca’s Fulham Shore eyes expansion despite sliding revenue August 17, 2021 Hospitality group Fulham Shore, which owns Franco Manca, has seen its annual revenue nearly sliced in half due to the restrictions on restaurants for most of the year. The group pulled in £40.3m in revenue in the year to 28 March, after it had plunged 41.3 per cent from the £68.6m it raked in last [...]
Godfather of Sudoku: Maki Kaji dies aged 69 after battle with cancer August 17, 2021 Sudoku creator Maki Kaji, whose life’s work was spreading the joy of puzzles, has died aged 69. He had bile duct cancer. Known as the Godfather of Sudoku, Kaji created the puzzle to be easy for children and others who did not want to think too hard. Its name is made up of the Japanese [...]
Ocado sales dip as pre-pandemic habits return, supermarket data finds August 17, 2021 The UK’s return to normality has been accompanied by a return to pre-pandemic shopping habits, with online and overall grocery sales declining. The latest grocery market share figures from Kantar for the period ending 8 August show that grocery sales fell by four per cent. The latest twelve weeks saw the lowest level of online [...]
The City will bounce back: Royal Exchange owners on the future of retail August 17, 2021 Is London over? There are plenty of doom-mongers ready to make that case after the pandemic flipped the world on its head. But for answers, it helps sometimes simply to follow the money. Two new skyscrapers approved recently for Canada and occupancy increasing at pre-existing buildings like 22 Bishopsgate bode well. And [...]