Swiss miss: Domino’s bids farewell to Switzerland with final European franchise sale August 9, 2021 Domino’s Pizza Group has sold its last remaining franchises in Europe amid a withdrawal from the Continent to focus on its core UK and Irish markets. The pizza maker said its Swiss business had fetched 300,000 Swiss francs (£300,000) and the deal is expected to be completed this month. It ends a year-long process of [...]
Morrisons partner McColl’s in talks over £30m cash call August 8, 2021 A major UK convenience store group is in talks over a £30m cash call in a bid to accelerate its partnership with supermarket chain Morrisons. McColl’s Retail Group has reportedly started talks with institutional investors about the £30m injection, which would almost match the group’s current £40m market capitalisation. City sources told Sky News that McColl’s chief [...]
Supermarket sweep: The fight for Morrisons heats up with Fortress increasing offer to £6.7bn August 6, 2021 The battle for control of one of the UK’s biggest supermarkets, Morrisons, has stepped up a notch today, with Fortress increasing its bid to £6.7bn. Fortress increased its offer to £6.7bn, or 272p per share when a 2p per share dividend is included, from £6.3bn earlier. The private equity consortium said said it “notes the [...]
Exclusive: Cult Beauty founder Jessica DeLuca on selling to THG and what happens next August 6, 2021 In the thirteen years since launching online cosmetics retailer Cult Beauty, Jessica DeLuca and Alexia Inge grew the business from £72,000 to £275m – the amount it sold to The Hut Group (THG) for this week. Jessica DeLuca, a former IT analyst, worked in the spare bedroom of her basement flat through 2007 building the [...]
‘True David and Goliath battle’: Oatly loses UK trademark dispute to Glebe farm August 5, 2021 British oat milk producer Glebe Farm has today won a trademark infringement case brought against it by celebrity-backed oat drink giant Oatly. Glebe Farm was accused by Oatly, which boasts Oprah Winfrey as one of its investors, of trademark infringement and passing off, after the family-run business used the brand PureOaty on their gluten-free oat [...]
India’s financial crime watchdog looks to fine e-commerce giant Flipkart $1.3bn August 5, 2021 India’s financial crime watchdog is looking to fine Walmart-backed e-commerce giant Flipkart $1.35bn over claimed foreign investment violations, according to reports. The Enforcement Directorate agency has been investigating retail heavyweights like Flipkart and Amazon for allegedly bypassing laws that regulate multi-brand retail and restrict them to operating a marketplace for sellers, Reuters first reported citing [...]
Mike Ashley to hand reins of Sports Direct retail empire to future son-in-law August 5, 2021 The board of Frasers Group confirmed suspicions that CEO Mike Ashley will be replaced next year by his daughter’s fiancé, Michael Murray, in the group’s financial update. 31-year-old Murray is currently the firm’s “head of elevation” and has been in charge of modernise the owner of Sports Direct and House of Fraser, as well as [...]
Brexit and Covid impact: More than 90,000 EU workers to have left UK hospitality jobs August 5, 2021 More than 90,000 EU workers left the UK’s hospitality sector in the last year, new figures have revealed. Fresh research from jobs site Caterer.com found that three out of five hospitality employers are now receiving record numbers of applications from UK workers. London was identified as acutely affected by the exodus with the research estimating [...]
John Lewis hikes lorry driver salaries by £5,000 amid driver shortages August 5, 2021 John Lewis has today announced that it will up the salaries of its lorry drivers by £5,000 a year as the current shortage of HGV drivers continues to weigh on the supermarket sector. The retailer said that the rise, which works out at roughly £2 an hour, came in response to the shortfall, which has [...]
Away and Aria Resorts to forge £600m staycation giant amid domestic travel boom August 4, 2021 Holiday park heavyweight Away Resorts has agreed to merge with UK rival Aria Resorts to forge a £600m staycation powerhouse, as pandemic restrictions continue to scupper foreign travel. A staycation boom has been looming ever since domestic restrictions lifted in the UK, however, chatter of amber and amber plus lists have put off many from [...]
