E-commerce group Samarkand announces float plans February 8, 2021 Cross-border e-commerce technology and retail group Samarkand has announced its intention to float on the Aquis Exchange Growth Market. Samarkand is proposing to raise around £10m from the float, which is targeted for March 2021. Headquartered in London, Samarkand focuses on connecting Western brands with China. Samarkand CEO and co-founder David Hampstead said in the [...]
Boohoo buys Arcadia brands Dorothy Perkins, Wallis and Burton February 8, 2021 Online fashion giant Boohoo has bought Arcadia brands Dorothy Perkins, Wallis and Burton out of administration in a £25.2m deal. Boohoo has bought the brands’ e-commerce and digital assets and associated intellectual property rights. The deal does not include the retailers’ physical stores and the brands will become online-only. All 214 Dorothy Perkins, Wallis and [...]
The Week Ahead: Look out for GDP data, Ocado, AstraZ, Twitter and Ted Baker February 8, 2021 Start your week informed: here are the announcements and results to look out for this week. UK GDP: A double dip recession is looming After a fairly decent third quarter, and an expansion of 16 per cent, the UK economy has had a much more troubled fourth quarter, with the likelihood that we may well [...]
Losses at top 100 restaurant groups rocket 112 per cent to £571m February 8, 2021 Losses at the top 100 UK restaurant groups increased 112 per cent to £517m last year, rising from reported losses of £269m at the end of last month. According to UHY Hacker Young, the losses are expected to continue, as restaurants have been forced to shut again because of the latest coronavirus restrictions. UK Hospitality, [...]
UK supermarket chiefs call for online sales tax on firms like Amazon February 8, 2021 Some of the UK’s largest retailers, including Tesco and Asda, have called for Rishi Sunak to “rebalance the tax base” between online and bricks and mortar retail in an apparent push for a new digital sales levy on firms like Amazon. In a letter to Sunak, 18 chief executives and union bosses said “online retailers [...]
Central London retail investment doubles as fresh brands swoop on empty high street stores February 5, 2021 Less established brands swooped on discounted central London property in the final quarter of last year, as the collapse of former high street stalwarts has prime space up for grabs. Total central London retail investment in the fourth quarter of 2020 reached £475m, more than double the volume reported in the final three months of [...]
Cheers: Substantial meal rule to be scrapped when pubs reopen February 5, 2021 The rule that punters have to order a substantial meal with their pint is reportedly set to be scrapped when pubs reopen later this year. The prime minister will allow restrictions on pubs to be simplified after the full lockdown is lifted. Under the tier system that was in place before the latest national lockdown, [...]
Retailers ‘desperate’ for roadmap out of lockdown as sales continue to fall February 5, 2021 Retailers “desperately” need the government to provide details on a roadmap out of lockdown in order to plan for recovery after the pandemic, experts said as sales continued to fall. The Prime Minister has previously said the government will publish plans to lift lockdown restrictions in the week of 22 February, with easing not expected [...]
French Connection in talks with two potential buyers after challenging year February 5, 2021 French Connection is in discussion with two potential buyers, the company confirmed this morning. French Connection is in early stage talks with Spotlight, owned by Gordon Brothers International, and Go Global, owned by HMJ International Services. The two businesses are in separate talks, and are not acting together. The two businesses interested in French Connection [...]
Airport hotel chain still ‘in the dark’ over new UK quarantine plans February 4, 2021 Britain's biggest airport hotel chain has been "kept in the dark" over how the government's hotel quarantine policy for arrivals will work, a week on from its announcement.
