Studio Retail plunged into administration as 1,400 jobs in the lurch February 24, 2022 Some 1,400 jobs have been threatened as online retailer Studio Retail has formally appointed administrators. The value retailer, whose largest shareholder is Mike Ashley’s Frasers Group, has formally appointed Teneo as administrators, The Times newspaper has reported. Studio suspended its shares last week and said HSBC rejected its request for a short-term £25m working capital [...]
Storm-damaged O2 will reopen this week but the hole will be there for some time February 24, 2022 The O2 will reopen on Friday, after being damaged during stormy weather last week, however the hole will remain visible for some time. The canvas roof of the music venue was ripped to pieces when Storm Eunice saw the country battered with strong winds. Following safety checks, the O2 music arena will reopen to visitors [...]
IKEA to inject £1bn into London over the next three years February 24, 2022 IKEA is set to inject £1bn into London over the next three years, as it opens the doors to its first small store in Hammersmith. The Swedish furniture retailer, known for its large warehouse stores, is looking to branch out into city centres with a smaller, more accessible offering. The West London store, a quarter [...]
Buyers’ demand for Bath hots up after Netflix series Bridgerton February 23, 2022 Demand for homes in cathedral cities has been hotting up among overseas buyers, with house-hunters enticed by the Netflix series Bridgerton. According to data from estate agent Winkworth, demand and prices for cathedral cities are 20 per cent higher than other locations. For the city of Bath, where the Regency era romance series Bridgerton was [...]
Restaurant chain Fridays appoints new COO after Hotter Shoes demerger February 23, 2022 America inspired restaurant chain Fridays – formerly TGI Fridays – has appointed a new chief operating officer. Julie McEwan, formerly of Whitbread and Las Iguanas, will take on the new role in early March. It comes as the chain has undergone a rebrand after being demerged from Hotter Shoes last year. Owner Electra Private Equity [...]
Monsoon and Accessorize eye 20 new stores as fashion brands progress Covid recovery February 23, 2022 The Monsoon and Accessorize group has said it is eyeing 20 new store openings this year, as the fashion group continues to recover from Covid. In results published on Wednesday, the group revealed sales of £196m and EBITDA of £17.4m for the 12 months to 31 December 2021. The firms were acquired by Adena Brands [...]
Influx of foreigners: Rapid rise in hiring and relocating overseas talent to the UK due to severe shortage of job candidates February 23, 2022 A severe shortage of job candidates in the UK is fuelling a rapid rise in the number of British employers seeking out international talent to fill their vacancies and offering them more support in their move to a new country and city. Relocation platform PerchPeek told City PM this morning that it has seen a 327 per cent [...]
Post Office victims see hopes raised by inquiry’s line of questioning February 23, 2022 Sub-postmasters who were victims of the Post Office Horizon scandal have seen their hopes raised by the line of questioning adopted by the public inquiry’s chairman. Former judge Wyn Williams has confirmed the victims’ compensation agreements would be revisited, after the inquiry’s terms of reference didn’t mention a specific financial redress for the sub-postmasters, reported [...]
Ted Baker steams ahead with UK expansion despite Omicron dent to sales February 23, 2022 Ted Baker is set to steam ahead with its UK expansion plans – with hopes of a least three new stores each year over the next three years – despite the Omicron-induced dent to sales. The retailer saw sales plunge 42 per cent during the Omicron surge, in comparison with the final quarter of 2019. [...]
Millions of Brits go bargain hunting as they are forced to tighten their belts in cost of living crisis February 23, 2022 As energy prices soar and inflation hits a 30 year high, millions of British households have embarked on a hunt for bargains and discounts. In fact, 41 per cent of shoppers stated that they would actively look for bargains as they prepare to tighten their belts; with a further 35 per cent of shoppers saying [...]
