WATCH – ‘Tasty and that’s it’: Rebranded McDonald’s opens in Moscow June 13, 2022 A new era for fast food in Russia has dawned with the opening of rebranded McDonald’s under the name Vkusno & Tochka, which translates to ‘tasty and that’s it’. While the golden arches and big macs may have gone, the rebranded restaurant chain opened up its doors once again, more than three decades after McDonald’s [...]
Environment minister doubles down on food strategy despite criticism from lead adviser June 13, 2022 Food minister George Eustice has doubled down on the government’s food strategy amid criticism it has not gone far enough to help issues like obesity and food poverty. The lead adviser to the plan, restauranter Henry Dimbleby, has criticised the blueprint as “not a strategy”. “It doesn’t set out a clear vision as to why [...]
Top dining chains see losses swell as inflationary pressures hammer the high street June 13, 2022 The country’s top restaurants have seen losses swell considerably in the past six months, surpassing the £800m mark. According to analysis from accountancy firm UHY Hacker Young, losses at the top 100 restaurants swelled 24 per cent from £673m to £832m in just the past six months shows a new study by UHY Hacker Young, [...]
650k retail jobs lost in the past five years amid fears of unfair high street tax bills ahead June 13, 2022 Some 650,000 retail jobs have been lost in the past five years, as the high street comes under threat once more with consumer spending dropping amid historic inflation. The Centre for Retail Research has found that some 645,204 retail jobs have been lost and 72,580 stores closed across the UK since 2017. High street heavyweights [...]
Garment workers in Leicester face ‘many constraints’ in accessing fair pay and conditions still June 13, 2022 The government must do more to tackle the exploitation of garment workers across the country, a report into Leicester workers has found. Garment workers in the city still face obstacles to fair pay and conditions, according to a study from the University of Nottingham and De Montfort University, commissioned by the Garment & Textile Workers [...]
Morrisons mulls sale of warehouses and fisheries in £600m deal June 12, 2022 Morrisons’ private equity owner is scouting for a buyer for its estate of warehouses, fisheries and food manufacturing hubs in a sale worth more than £600m. The New York private equity titan is mulling a sale-and-leaseback transaction in an endeavour to power returns from its £7bn takeover of the British grocer, according to a report [...]
Senior bondholders call for talks over Matalan’s future June 11, 2022 Matalan’s senior bondholders have reportedly called for talks over the retailer’s future as the cost-of-living crisis continues to bite into the company. Lenders have sought the advice of financial services firm Perella Wellbeing to understand what their options are as they are set to receive a £350m payment next year, Sky News first reported. Junior [...]
English wine is fine: British producers booming despite merciless pandemic hit to hospitality June 11, 2022 The top producers of English wine have seen their turnover increase by another 4.5 per cent last year. Proceeds from British wines went from £24.3m in 2019/20 to £25.4m in 2020/21, despite sales to the hospitality sector being heavily impacted by Covid. Sales to hospitality venues and events organisers such as conferences, awards and weddings [...]
Rebranded and under new ownership: McDonald’s set to relaunch in Russia market this weekend June 10, 2022 This weekend will mark a new dawn for Russian fast-food lovers as former McDonald’s Corp restaurants reopen under new branding and ownership, more than three decades after the arrival of the Western fast-food chain in the world’s largest country. Watch the full video report.
Parkdean Resorts: £1.6bn sale of holiday park giant stalled over slow UK growth concerns June 9, 2022 The UK economy’s slowing growth is reported to have stalled the £1.6bn sale of Parkdean Resorts following a sixth month auction process. The holiday parks operator and its owner Onex Corporation took the decision to call off the move amid concerns about a possible UK recession, and its impact on the staycation market. This week, [...]
