Challenger bank Oaknorth loans a further £7.3m to Z Hotels for new London sites in Covent Garden, Holborn and Tottenham Court Road June 12, 2018 Challenger bank and fintech unicorn Oaknorth has provided £7.3m in a debt financing deal to compact luxury hotel brand Z Hotels, City PM can reveal. The hotelier says it has undergone rapid growth since launching in 2011, which now owns and operates eight hotels at sites across London, Glasgow and Liverpool. Today’s news is destined [...]
Boohoo revenue jumps more than 50 per cent as it plugs ‘record levels’ of investment into infrastructure June 12, 2018 It might be carnage on the high street for numerous big names at the moment, but Boohoo is going from strength to strength in online retail. It has reported a 53 per cent rise in revenue for the first quarter of the year as it eyes more market share gains. The figures Boohoo has set [...]
We talk to the founder of maternity fashion brand Seraphine about sexism and style June 11, 2018 What do the Duchess of Cambridge, Angelina Jolie, and Gwen Stefani all have in common? At different points in time, they have all worn clothing from the Seraphine fashion range. But Seraphine is no normal fashion label – this is a brand that specialises in maternity clothing. In its 16-year history, it has become a [...]
Whistle Punks takes aim at central London for flagship axe-throwing bar June 11, 2018 We all know the feeling. After a really tough day at work, there's nothing you want more than to throw something. Now all your dreams of post-work relaxation can come true, as a surprising leisure activity is set to hit central London. Urban axe-throwing specialists Whistle Punks are on the hunt for a London flagship [...]
Warhammer creator Games Workshop hands £5m bonus to staff after another stellar year June 8, 2018 Games Workshop handed £5m in bonuses to its staff this year after profits almost doubled again. In a trading update issued today ahead of the full results in July, the retailer said it had grown sales across all channels, including its high street shops, in the year to 3 June. Turnover is expected to be [...]
Tesco boss blames business rates for retail chaos June 8, 2018 Tesco boss Dave Lewis has joined the outcry against business rates, blaming the system for the carnage on the high street. He said that the tax was partly responsible for the collapse of some retailers, and that it had created an "uneven playing field". "Are we allowing it to stay competitive, or are we by [...]
Whitbread open to sale of Costa or Premier Inn as it weighs up coffee chain demerger June 7, 2018 Multinational hospitality titan Whitbread may be open to selling off either Costa Coffee or hotel chain Premier Inn as it decides on plans to demerge its coffee business. Back in April, the company told investors it had plans to demerge Costa into a separate listed company within two years to give shareholders "an investment in [...]
Full list of 31 House of Fraser closures includes Oxford Street and Canada locations June 7, 2018 House of Fraser's flagship Oxford Street store will close as part of the decision to shutter 31 stores which was confirmed this morning. Canada will also lose its House of Fraser, which is currently situated on King William Street. Some of House of Fraser's stores have been subject to staggering business rates [...]
House of Fraser confirms plans to close more than half of its stores June 7, 2018 House of Fraser is to close 31 of its 59 stores in a plan to dramatically restructure the chain, in a move its chief executive described as "grim". If approved by creditors, the move will result in the loss of 6,000 jobs: 2,000 House of Fraser employees and 4,000 brand concession staff. The full list of [...]
Buyout firm pulls out of Poundworld rescue deal talks June 6, 2018 The buyout fund circling Poundworld has walked away from talks, throwing the future of the chain into doubt. It emerged over the weekend that Alteri Investors, the backer of troubled chains such as Brantano and Jones Bootmaker, was in discussions over a possible rescue deal for Poundworld. But Sky News reported today that the firm [...]
