Winemaker Gusbourne necks strong revenue despite hospitality restrictions June 7, 2021 Winemaker Gusbourne has reaped the benefits of lockdown wine nights this past year, despite the hospitality group battling lower trading sales. The group’s net revenue rose by 28 per cent to £2.11m, up from £1.65m the year before the pandemic pushed people’s social lives to their sofas. The winemaker’s share’s lifted 1.22 per cent in [...]
Travelodge opens seven new hotels ahead of domestic summer travel boom June 7, 2021 Travelodge, what is thought to be the UK’s first budget hotel chain, have opened the doors to seven new hotels today following a £70m injection. The seven properties, which form part of 17 hotels that are expected to open later this year, are set to create around 150 jobs. Dotted across St Albans, Boston, Faringdon, [...]
Tesco and Carrefour end three-year partnership June 7, 2021 Tesco and French retailer Carrefour will not extend their purchasing alliance beyond the three-year framework agreed in 2018. The deal between the two giants will formally end on 31 December 2021. Over the last three years, Tesco and Carrefour have enjoyed a number of joint buying opportunities across food and general merchandise, giving them each [...]
Reckitt to see £2.5bn loss from sale of baby formula business June 7, 2021 Reckitt Benckiser will incur a net loss of £2.5bn on the sale of its baby formula business in China to private equity group Primavera Capital Group. The consumer goods maker said taking into account all costs, including goodwill, it will lose £2.5bn with the sale. Reckitt is selling its infant formula and child nutrition (IFCN) [...]
UK holidaymakers warned of summer essentials shortage June 7, 2021 Summer essentials like garden furniture, picnic baskets and outdoor toys could be in short supply this year, with many British suppliers experiencing import delays this month. Around 60 per cent of British suppliers have experienced import delays, the BBC reported, with the Suez Canal blockage earlier this year partly to blame. Increasing global demand for [...]
Social distancing makes UK pubs ‘unviable’, industry chiefs warn June 5, 2021 Ongoing social distancing measures are making British pubs unviable as businesses, industry bosses have warned, as boozers continue to suffer a hit to trade. UK pubs traded 20 per cent lower in the first week of reopening indoors compared to the same period in 2019 before the pandemic hit. This was despite 95 per cent [...]
Social distancing in pubs, home working and face masks likely to continue after 21 June June 4, 2021 The Government is reportedly revising its roadmap out of lockdown, with plans to keep restrictions in place in pubs and restaurants amid concerns over new coronavirus variants. Social distancing in hospitality venues, working from home and masks on public transport could all remain in place after the so-called “Freedom Day” on 21 June, senior government [...]
Exclusive: Why the post-Covid investment space is ripe for a wave of retail IPOs June 4, 2021 With over 450 IPOs already listed this year, including the likes of Moonpig and Dr Martens, the post-Covid market seems ripe for fresh floats. Large retail companies are no exception and will be part of the recovery conversation. “ In fact, market interest in retail is steadily returning following a slow recovery after the pandemic, which has [...]
Surging wine sales leave sweet aftertaste for Chapel Down after bitter year June 4, 2021 Winemaker Chapel Down said that lockdown had sent its wine sales up over a third over the last year, but this was not enough to stop it from falling to a £7.9m full year loss. The company also said that it would launch a new crowdfunding campaign in a bid to raise nearly £7m to [...]
Online spending continues to drive retail sales despite shops open for business June 4, 2021 Online spending grew yet again last month, despite the high street being open for business, suggesting some consumer behaviours adopted during the lockdowns are here to stay. Total online spending rose nearly 10 per cent in May versus the same time last year, according to BDO’s High Street Sales Tracker, despite physical shops being open [...]
