BrewDog co-founder James Watt gives £100m shares to staff May 3, 2022 BrewDog boss James Watt has revealed plans to give away some £100m of shares, as the drinks firm attempts to move on from accusations of being a toxic workplace. More than 3.7m shares will be moved to an employee benefit trust while hundreds of workers will be given a stake in the Scottish brewer. Salaried [...]
Hilton marks ‘better than expected’ performance as travel demand returns May 3, 2022 Hotel operator Hilton has reaped the rewards of an international travel resurgence, posting an adjusted EBITDA of $448m for the first quarter. Demand dipped earlier in the year as a surge in Omicron Covid cases prevented many from travelling abroad. However, the easing of Covid restrictions has seen demand for travel flooding back. Hilton Worldwide Holdings [...]
Missguided: Sales documents sent to private equity firms as fashion giants circle retailer May 3, 2022 Fast fashion firm Missguided is reportedly wooing potential buyers as the retailer faces an uncertain future. According to the Daily Mail, the Manchester-based firm has recruited consultants to work on a deal, with the possibility of an agreement being inked this month. Names reportedly in the running include Asos, Shein, Mike Ashley’s Frasers Group and [...]
Tesco, Sainsbury’s and Greggs join forces to lobby Sunak to slash business rates May 3, 2022 Supermarket giants have reiterated calls for a cut in business rates as firms endeavour to keep prices competitive for shoppers amid rising inflation. Big names including Morrisons and Co-op have come together under a new Cut the Shops Tax campaign, organised by the Retail Jobs Alliance. In a joint letter to Chancellor Rishi Sunak, bosses [...]
CMA to allow Morrisons owner to sell 87 petrol stations to complete £7bn deal May 3, 2022 The UK’s competition watchdog has said it is poised to give a green light to the owner of Morrisons over selling dozens of petrol stations. The Competition and Markets Authority (CMA) has been probing Clayton, Dubilier & Rice’s £7bn takeover of the supermarket and previously raised competition concerns. The New York private equity firm also [...]
Boost for embattled hospitality sector: Heineken goes on UK hiring spree as beer giant creates 700 new pub jobs May 3, 2022 Dutch beer giant Heineken has said this morning it will create more than 700 jobs across the UK as part of a £42m investment plan into its pub operation. The brewing company said that 660 pubs – more than a quarter of its Star Pubs & Bars venue business – will be upgraded as part [...]
McColl’s shares to be suspended from LSE as accounts cannot be signed off by auditors May 3, 2022 Struggling convenience store business McColl’s is set to have its shares suspended from the London Stock Exchange as bosses said they would be unable to get its accounts signed off by auditors in time. The retailer has been in discussions with potential lenders to shore up the business, which struggled badly during the pandemic due [...]
Veteran Fevertree chairman announces retirement May 3, 2022 Longstanding Fevertree Drinks chairman Bill Ronald has announced he will be retiring in May next year. Ronald joined the premium tonics and drink mixer maker in June 2013 ahead of Fevertree’s debut on the London Stock Exchange the following year. He has given a year’s notice to allow the company to start looking for a [...]
John Lewis planning to lure hundreds of engineers as it plots big retail push online May 3, 2022 Retail giant the John Lewis Partnership is zooming in further on its online operations as it is planning to recruit for more than 150 roles in engineering and delivery driving. John Lewis, which also owns Waitrose supermarket, said its recruitment drive will help grow its online stores, which together have more than 55m visits a [...]
Card Factory posts revenue growth thanks to store recovery and occasion boom May 3, 2022 Card Factory posted 28 per cent revenue growth this morning to £364.4m thanks to the steady recovery of stores following the easing of lockdown restrictions, alongside an online performance significantly ahead of pre-pandemic levels.
