Boohoo raises £198m as fashion retailer eyes acquisitions May 15, 2020 Fast fashion retailer Boohoo has raised £198m as it seeks to take advantage of the coronavirus crisis to snap up global brands. Boohoo, which raised the funds through a share placing announced last night, said it would use the proceeds to “take advantage of numerous opportunities that are likely to emerge in the global fashion [...]
Ei Group reveals multi-million pound tenant support package amid mounting pressure May 14, 2020 Ei Group has granted a rent holiday for some of its bigger pubs amid mounting pressure for pub companies to announce more support for tenants. A cross-party group of 60 MPs wrote to Ei Group last week urging it to cancel rents for tenants during the coronavirus crisis. The letter said it was “unfair” for [...]
Tesco bosses receive bonus boost after Ocado removed from competitor list May 14, 2020 Tesco bosses received a bonus boost last year after the grocer removed online supermarket Ocado from a list of competitors. Tesco chief executive Dave Lewis would have missed out on around £1.6m in shares if the online rival had remained on the list used to compare Tesco’s performance against its competitors. Before Ocado was removed, [...]
Greene King launches pub grub delivery service May 14, 2020 Pub chain Greene King has launched a takeaway service from 29 London pubs to deliver meals across the capital during the coronavirus crisis. The company said 29 of its Metropolitan Pub Company sites, including the Cricketers in Richmond and the World’s End in Finsbury Park, will offer delivery through Deliveroo from 22 May. Additionally, 10 [...]
Domino’s slams Amazon’s £442m investment in Deliveroo May 14, 2020 Pizza takeaway chain Domino’s has slammed a watchdog’s decision to give the go-ahead to Amazon’s £442m investment in Deliveroo, saying the decision will harm competition and consumers. The Competition and Markets Authority (CMA) provisionally cleared the investment in April over concerns that Deliveroo could collapse without extra financial backing due restaurant closures during the coronavirus [...]
Marston’s secures £70m liquidity as brewer prepares for sustained pub closures May 14, 2020 British brewer Marston’s today said it has secured an extra £70m of liquidity, which will enable it to survive until the end of the financial year even if its pubs remain closed until then. The pub chain said it could survive a sustained closure of its pubs due to a £70m increase to its financing [...]
Watches of Switzerland beats expectations due to surge in online sales May 14, 2020 Watches of Switzerland saw sales smash £590m in the UK as the luxury group beat expectations for full-year revenue despite the coronavirus shutdown. Despite a slowdown in the last six weeks of the year due to the coronavirus, the firm said revenue had risen 5.9 per cent to £819.3m. The figures In the 46 weeks [...]
WH Smith revenue dives 85 per cent during coronavirus lockdown May 14, 2020 WH Smith reported an 85 per cent drop in revenue for last month after the coronavirus lockdown forced the retailer to close high street and transport hub stores. The newsagent chain said travel revenue plunged 91 per cent due to travel bans around the world, and high street revenue was down 74 per cent. WH [...]
Marks & Spencer to reopen 49 cafes as UK lockdown eases May 13, 2020 Marks & Spencer (M&S) will reopen cafes across the UK with social distancing measures in place from tomorrow, as the country gradually starts to ease the coronavirus lockdown. The retailer said 49 cafes will be open to sell takeaway hot drinks following a successful trial at five locations, allowing customers to buy coffee while doing [...]
Bowling alley operator Ten Entertainment prepares for coronavirus lockdown to lift May 13, 2020 Bowling alley operator Ten Entertainment said it was preparing to reopen to customers with social distancing measures in place, and also said it had the resilience to face a second wave of coronavirus. Ten Entertainment this morning announced it has secured personal protective equipment for staff and its sites were being configured for social distancing. [...]