Rapid delivery app Gorillas seeks $1bn to fuel international expansion May 30, 2021 Rapid grocery delivery service Gorillas is raising fresh capital that could propel its valuation to more than $5bn just one year after its launch. The Berlin-based unicorn company is raising close to $1bn to fuel international expansion, the Sunday Times first reported. Gorillas, which delivers groceries to customers’ homes within 10 minutes, operates in [...]
Clucky escape: Nando’s avoids £300m debt default May 30, 2021 Lenders have given Nando’s some breathing space to avoid it defaulting on a £300m debt pile after being hit hard by pandemic-led restrictions. Banks including NatWest, Barclays and Santander have agreed to waive the testing of loan covenants in May, the Telegraph first reported, a move that helped Nando’s avoid defaulting. Covid restrictions have seen [...]
High street could see yet more closures over unpaid rent May 30, 2021 Two-thirds of retailers have been told by landlords that they will be subject to legal measures from July, as an agreement with commercial landlords comes to an end. The high street could see yet more closures in the near future, as from 30 June, a moratorium agreed at the start of the pandemic that prevented [...]
Report: Festivals risk losing another summer unless government support kicks in May 29, 2021 Music festivals are looking at another ‘lost summer’, a report has said today, due to the lack of government plans to back insurance for events at risk of cancellation due to Covid-19. The report, by the Department for Digital, Culture, Media and Sport (DCMS) committee, calls on ministers to offer a safety net for live [...]
John Lewis goes on senior hiring spree in push to modernise brand May 28, 2021 John Lewis has made three new senior hires to support its plans to transform and grow the business after a tough year. The new hires will focus on developing John Lewis’s online store, the retailer’s physical estates and branding. Steve Masterton will become director of online trade. He joins the partnership from Dunelm, where he [...]
Who will be the winners from the UK’s lockdown lifting? May 28, 2021 | City Talk The UK continues its steady emergence from lockdown. Shops, gyms and outdoor hospitality reopened in April, with hotels, cinemas and indoor dining now following suit. All being well, further restrictions could be lifted in June. The lockdowns of the last year have undoubtedly benefited online grocers and food delivery services. But we’ve reached a crucial [...]
Bank holiday: Pubs predict 21m fewer pints sold and £80m in lost sales May 28, 2021 Bank holiday: Pubs predict 21m fewer pints sold and £80m in lost revenue
TfL pledges to make London world’s ‘most walkable city’, which could aid SMEs May 27, 2021 TfL has pledged today to make London the world’s ‘most walkable city’ and will programme 18 pedestrian crossings to show green walking signal until traffic approaches. The programmed crossings are set to prioritise people walking and will be installed by the end of next month. Six crossings have already been programmed in Tower Hamlets, Newham, Hounslow, [...]
Klarna rival Laybuy turns its attention to the UK’s buy now pay later market May 27, 2021 The buy now pay later market has exploded in recent years and now a New Zealand company is trying to make its mark in the UK. Laybuy was set up by Gary Rohloff, his wife and his two sons in 2018 and launched in the UK in early 2019. The likes of Klarna and Clearpay [...]
Sweet Dreams are made of this: UK bed retailer sold to Tempur Sealy for £340m May 27, 2021 Sweet Dreams are made of these: UK bed retailer sold to Tempur Sealy for £340m