Soho House eyes $3.2bn valuation ahead of New York listing July 6, 2021 The parent company of the Soho House members club said it is targeting a valuation of about $3.2bn (£2.3bn) as it prepares to list on the New York Stock Exchange. The group, which filed for the initial public offering (IPO) under the name ‘Membership Collective Group’ in June, said it plans to raise as much [...]
Driver shortages leave gaps on Sainsbury’s shelves July 6, 2021 The boss of Sainsbury’s has admitted the supermarket has struggle to source all of its usual products in wake of a serious lorry driver shortage that has affected multiple sectors. Speaking today following Sainsbury’s quarterly results, CEO Simon Roberts said the supermarket giant had been unable to stock all its usual products because of driver [...]
High streets may never recover to pre-pandemic levels, minister warns July 6, 2021 The number of shoppers on the high street may never again hit pre-Covid levels, as a combination of working from home and shopping online could permanently change consumer habits. Speaking to MPs on the Communities Select Committee, Luke Hall, minister for regional growth and local government, suggested a full recovery for the high street could [...]
Wembley windfall: Major events ‘worth £600m’ to London every year July 6, 2021 While footie fans will only be worried about the result when England storm into the Euros semi-final tomorrow night, for London the historic showdown also means a major economic boost. As Wembley prepares to welcome 60,000 fans at both the semi-final and final, a major new report has revealed that major sporting and cultural events [...]
Pubs to be allowed to stay open late for Euros final this Sunday July 6, 2021 Pubs will be allowed to stay open late on Sunday night if the Euros final goes into extra time. Punters will be able to hang around for 45 minutes longer in pubs on Sunday evening in case the Euros final goes into extra time, regardless of whether England make the final. According to reports, pubs [...]
Ocado partners with major Spanish grocer as revenue leaps July 6, 2021 Revenue at supermarket Ocado is up significantly on the same period last year, as the online model proved resilient in the face of Covid-19 restrictions. Revenue for the business stood at £1.3bn for the first half of 2021, up 24.4 per cent on H1 2020. Group EBITDA more than tripled to £61m, despite increased [...]
Mulberry to close Paris store as slashed tourism hits another capital July 6, 2021 Mulberry will close the doors to its Paris store until international tourism returns, the luxury brand said today. Exiting the lease early at its 275 Rue Saint Honoré store, slashed tourism numbers due to pandemic restrictions has seemingly hit Paris much like it has hit London. The brand will bag net proceeds after tax of [...]
Shoppers will be encouraged to wear masks inside Westfield shopping centres July 6, 2021 Shoppers at Westfield shopping centres will be encouraged to wear masks even after the legal requirement to do so is dropped. Jactina Rowsell, manager of Westfield shopping centre in White City, said in order to make shoppers and staff feel safe, masks would be encouraged in both London shopping centres. “We’re very aware and [...]
John Lewis and Waitrose to introduce flexible working for head office staff July 5, 2021 Bosses at John Lewis and Waitrose have confirmed they will introduce flexible working for all staff based at the company’s head offices. The announcement by the employee-owned retailer came after Boris Johnson confirmed plans to lift most lockdown restrictions on 19 July, including an end to the government’s work from home guidance. “If restrictions are [...]
Hospitality chiefs celebrate 19 July announcement but warn of long road to recovery July 5, 2021 The hospitality industry welcomed Boris Johnson’s lockdown easing announcement this evening with open arms, but still fears the hangover from Covid-19 restrictions will damage trade. Business owners in the industry have hailed the government decision to lift compulsory restrictions on so-called “Freedom Day”, meaning pubs, bars and restaurants will be able to operate at full [...]
