Intu sees rent payments dive amid UK coronavirus crisis March 26, 2020 Struggling retail landlord Intu has received less than a third of rent due for its second quarter as retailers struggle to pay the bills amid the UK coronavirus crisis. That forced it to abandon 2020 guidance as its incredibly low shares dropped three per cent to under 4p. The government has ordered almost all shops [...]
UK retail sales miss expectations before March’s coronavirus hit March 26, 2020 UK retail sales slumped 0.3 per cent in February to miss expectations of a small rise of 0.2 per cent. And core UK retail sales dropped 0.5 per cent on a monthly basis, deeper than expected in February, despite few businesses seeing the coronavirus-led slowdown that has wrought havoc in March. Excluding fuel, UK retail [...]
Primark refuses to pay rent bill amid coronavirus crisis March 25, 2020 Budget retailer Primark has today reportedly refused to pay its rent bill after closing all of its stores due to the coronavirus pandemic, as fears mount that some retailers will never reopen after the outbreak. Primark has written to landlords to tell them it would not meet its quarterly rent payment due on 110 leasehold [...]
Coronavirus: Off-licences added to list of essential retailers March 25, 2020 Off-licences have been added to the government’s list of essential retailers that are permitted to stay open during the UK coronavirus lockdown. Off-licences and “licenced shops selling alcohol, including those within breweries” have today been reclassified as essential stores, amid reports that supermarkets were beginning to sell out of beer and wine. Customer stockpiling saw [...]
Coronavirus: Wetherspoon to pay workers under jobs retention scheme March 25, 2020 JD Wetherspoon will pay its 43,000 workers under the coronavirus jobs retention scheme after the pub chain faced backlash from employees. All staff will be paid on Friday for hours worked last week, and the first payment under the new scheme will be made on 3 April and weekly from then on, the company said [...]
UK coronavirus: Which retailers are open under lockdown rules? March 25, 2020 The government announced a UK coronavirus lockdown on Monday evening, putting limits on work, socialising and going outside. Addressing the nation, the prime minister said “I must give the British people a very simple instruction – you must stay at home”. Boris Johnson said police will break up public gatherings of more than two people, [...]
UK retailers most pessimistic since financial crisis amid coronavirus outbreak March 25, 2020 UK retailers are at their most pessimistic since the financial crisis as sales of non-essential goods plummet due to coronavirus containment measures, a survey has shown. However, grocers and other food firms have seen a surge in demand as Brits stockpile during the coronavirus lockdown, the CBI said today. This divergence of fortunes for Britain’s [...]
Coronavirus: Upper Crust owner SSP launches major cash call and cuts jobs March 25, 2020 The owner of Upper Crust and Camden Food Co. SSP will issue new shares and slash jobs it said in a wide-ranging trading update on its strategy to survive the coronavirus slump. SSP will close outlets and reduce staff after encountering a 85 per cent plunge in business across its European sites amid the coronavirus [...]
Halfords suspends dividend after forecasting a 25 per cent drop in sales March 25, 2020 Halfords has suspended its dividend to shore up its balance sheet after forecasting a 25 per cent drop in sales amid the coronavirus outbreak. The retailer anticipates a sharp drop in sales, of around £300m, following the government’s tightening of restrictions, but shares soared 56 per cent in morning trading before trading up 22.63 per [...]
Amazon and Ebay blasted over failure to crack down on virus profiteers March 25, 2020 Amazon and Ebay are failing to clamp down on coronavirus profiteers using their platforms to sell products at “ridiculous” prices, a new investigation has revealed. Third-party sellers have been accused of exploiting the pandemic to ramp up prices for products that are difficult or impossible to find in local shops. Household items including cleaning products, [...]