City centre hotels hammered by Covid restrictions on travel June 23, 2021 Hotels located in city centres are “really struggling” as Brits pick resorts over cities and travel restrictions curb tourism. Most hotels in British resorts like Cornwall are full, but city centre hotels are only between 30 and 40 per cent booked, according to data from hotel technology provider Avvio. London has seen a 32 per [...]
‘Are you crazy?’: London restaurateur on opening two eateries during the pandemic June 23, 2021 When the pandemic hit, London-based restauranteur Sanjay Anand, owner of catering and restaurant business Madhu’s, found himself feeling restless, with more time on his hands than he had had in decades. Pre-pandemic Madhu’s, which specialises in luxury Indian food, was predominantly a catering business, and when Covid restrictions were put in place last March around [...]
Festivals face ‘survival threat’ without insurance scheme, MPs warn June 23, 2021 Music festivals face a serious threat to their survival unless the government underwrites an insurance scheme covering the risk of cancellation, MPs have warned. In a report published today the Public Accounts Committee (PAC) warned that festivals were making “difficult decisions” about whether to risk their survival by going ahead this summer. The MPs added [...]
Labour says government should intervene in private equity takeover of Morrisons June 23, 2021 Labour has called on the government to confirm it will intervene in any private equity takeover of Morrisons to secure binding commitments about the buyer’s business plan, on jobs and on pensions. Morrisons revealed this weekend it had rejected a £5.5bn takeover bid from private equity firm Clayton, Dubiliter & Rice (CD&R), saying it believed [...]
Joules beats market expectations as recently acquired garden retailer provides boost June 23, 2021 Profit and revenue at Joules for the last financial year beat expectations, with its recently acquired garden and outdoor product store performing particularly well. In a pre-close trading update this morning, the fashion retailer said revenue had increased four per cent to £199m, up around £8m from the previous year. Profit before tax for the [...]
Fishy business: US lab fails to find tuna DNA in Subway tuna sandwiches June 22, 2021 A US lab could not find tuna DNA in 60 inches of Subway sandwiches supposedly serving the fish. The lab performed PCR tests, commissioned by the New York Times, to find if samples of the sandwich filling contained one of five common tuna species. “No amplifiable tuna DNA was present in the sample and so [...]
Some 300 million extra square feet of warehouse space needed in Europe to support e-commerce boom June 22, 2021 Nearly 300 million square feet’s worth of warehouse space in Europe will need to be found to cope with the e-commerce boom expected in the coming years. E-commerce sales across Europe are expected to increase by $298bn from 2020 to 2025, requiring thousands more industrial warehouses and distribution spaces to meet the growing demand, according [...]
E-commerce grocery sales plateau boosts Aldi’s market share to peak levels June 22, 2021 The growth of e-commerce sales in the grocery market has plateaued, giving the likes of Aldi an opportunity to grow its market share after not making use of online sales in the past year. The percentage of e-commerce sales in the grocery market remained flat at 13.4 per cent in the four weeks to 13 [...]
MPs to write to competition watchdog over potential takeover of Morrisons June 22, 2021 The Business, Energy and Industrial Strategy Committee is reportedly preparing to write to the Competition and Markets Authority over the takeover of Morrisons. The MPs’ decision to intervene followed concern from a group of Labour MPs that a private equity takeover of the UK’s fourth biggest supermarket would put thousands of jobs at risk, the [...]
Michelin starred Pied à Terre in Fitzrovia stops lunch due to ‘Brexit and Covid’ June 21, 2021 In another sign of the post-Covid recruitment crisis, one of London’s oldest Michelin-starred restaurants has closed its lunch service until further notice. Fitzrovia’s Pied à Terre says Brexit and Covid have impacted recruitment so badly it is no longer able to open for the whole day. The restaurant said it could not “protect the welfare [...]
