Sports Direct owner Frasers Group set for ‘upbeat’ update after reopening stores July 30, 2021 An “upbeat” trading update is reportedly expected from Mike Ashley’s Frasers Group, which owns Sports Direct, in the hope that the reopening of high street stores have pushed up sales The retail giant was more cautious in its outlook in April despite the reopening of retailers across the UK. It warned it could take a [...]
Soggy pizza? Delivery shifts soar as drivers ‘boomerang’ back to old jobs July 30, 2021 The number of temporary delivery drivers ready to pick up shifts has tumbled by over a quarter, new data has found, with many leaving flexible working behind. Thousands have returned to their pre-pandemic professions in hospitality and retail, according to Indeed Flex, the job sites flexible working division. In London, the number of available drivers [...]
Microsoft in talks to back pandemic bruised Indian hotel chain Oyo July 30, 2021 Microsoft is in late-stage talks to invest in Indian budget hotel chain Oyo, according to reports, after a bruising 18 months for the business. The backing would value the startup at around $9bn, sources said, although the investment figure is not yet known. The deal may close as soon as Friday, one source said. The [...]
Deliveroo set to pull out of Spain following gig economy law changes July 30, 2021 Deliveroo is set to shut down its operations in Spain, months after the government announced changes to the legal status of gig economy workers. The British company, which listed in London earlier this year, said it would consult on pulling out of the market due to the high levels of investment needed and uncertainty over [...]
London Shepherd Neame pubs pull 60 per cent of revenue on pre-pandemic levels July 30, 2021 Shepherd Neame pubs in London have pulled 60 per cent of their revenue and total sales from 2019 levels before pandemic restrictions eased fully in July. The British brewery, which operates some 310 pubs across the Southeast, found that pubs outside London fared slightly better – raking in 84 per cent of revenue and total [...]
Cineworld secures $200m loan boost as it gears up for bumper film slate July 30, 2021 Cineworld today said it had secured $200m (£143m) in incremental loans to help shore up its finances as the chain prepared for a bumper schedule of film releases later this year. The loan facility, which matures in May 2024, was secured from a group of Cineworld’s existing lenders. The company said it did not have [...]
Dairy giant Arla struggles with trickling supply of lorry drivers July 30, 2021 Dairy giant Arla has been hit by the lorry driver shortage which has forced it to cut back on its deliveries to the shelves of most UK supermarkets. The milk producer typically supplies some 2,400 stores daily but has struggled with a trickling supply of drivers since April, its UK managing director Ash Amirahmadi said. [...]
Two-tiered recovery? High Streets struggle as one-in-seven shops sit vacant July 30, 2021 A wave of administrations, closures and downsizing has decimated the UK high street, with new figures out this morning showing one in seven shops are sitting empty – and the problem is getting worse. In the second quarter of 2021, the overall vacancy rate increased to 14.5 per cent across the UK, from 14.1 per [...]
All Bar One owner going through ‘volatile’ time post-lockdown July 29, 2021 All Bar One and Toby Carvery owner Mitchells & Butlers (M&B) said it has seen “volatile” sales since reopening its all of its venues in May. Shares drifted lower in early trading after the hospitality group said it saw a slowdown in sales after an initially strong period following the easing of restrictions on 17 [...]
Open waters: International cruises to welcome passengers again July 29, 2021 International cruises will be allowed to restart next Monday after an extended break due to the coronavirus crisis. Months after domestic cruises restarted, international cruise lines operating in EU, UK, and US waters are finally allowed to welcome passengers onboard at 4am on 2 August but many companies say this won’t be possible until later [...]
