Debenhams set to close putting 12,000 jobs at risk December 1, 2020 Beleaguered department store Debenhams is set to close down after administrators were unable to find a buyer, putting around 12,000 jobs at risk in the latest blow to the struggling UK high street. Administrators FRP Advisory announced this morning that they have commenced a wind-down of Debenhams UK, while continuing to seek offers for all [...]
Pets at Home sells five specialist vet practices for £100m December 1, 2020 Pets at Home has agreed to sell five of its specialists referral practices for up to £100m. The FTSE 250 firm today announced it would sell the practices to Solihull-based Linnaeus Group, which operates over 150 veterinary clinics across the UK. Pets at Home said the disposal comprises £80m in cash on completion and a [...]
UK house prices grew at fastest rate since 2015 in November December 1, 2020 UK house prices grew at an annual rate of 6.5 per cent in November, the fastest rate since January 2015, as the sector batted off the second national lockdown. According to Nationwide’s house price index, prices also increased on a month-on-month basis to be up 0.9 per cent compared to last November. As a result, [...]
Topps Tiles posts 78 per cent drop in profit on virus-led closures December 1, 2020 Topps Tiles has posted a 78 per cent slide in full-year profit and did not propose a final dividend, as coronavirus restrictions prompted the company to close stores temporarily in the third quarter. The company’s adjusted profit before tax slumped to £3.6m for the 52 weeks ended 26 September, from £16m a year earlier. The [...]
‘Vaccine passports’ will not be required for the pub, says Michael Gove December 1, 2020 So-called ‘vaccine passports’ will not be required to visit the pub, Michael Gove has said. Speaking on Sky News this morning the minister for the Cabinet Office said vaccine passports would not be required to visit the pub, and nor was he aware of any discussions taking place on such an idea. Just yesterday Nadim [...]
Topshop owner Arcadia collapses putting 13,000 jobs at risk December 1, 2020 Sir Philip Green’s retail empire Arcadia, the owner of Topshop and Dorothy Perkins, has collapsed into administration, putting more than 13,000 jobs at risk. The company, which has become the biggest retail casualty of the coronavirus crisis, announced this evening that it has appointed Deloitte as administrator. More than 13,000 jobs are at risk following [...]
JD Sports to quit Debenhams rescue talks today December 1, 2020 JD Sports is expected to pull out of rescue talks with high street department store Debenhams today. The sports retailer was the last remaining bidder for Debenhams, which is in administration, and up until last week was ready to go ahead with the deal, according to the BBC. The recent collapse of Arcadia is understood [...]
Wanted: Someone to take charge and save hospitality this Christmas December 1, 2020 The excitement is building, and it’s so close now: lockdown is about to be lifted, and at midnight tomorrow we will all slot into our allotted tiers. London will be in a freshly toughened Tier 2, with shops reopening and pubs and restaurants allowed to admit customers — but under complicated limitations. A few lucky [...]
Topshop collapse: What went wrong for Sir Philip Green’s Arcadia retail empire? November 30, 2020 Topshop was a beloved high street brand, had secured lucrative partnerships with Kate Moss and Beyonce, and boasted star-studded front rows at its London Fashion Week shows. Now, it's facing collapse.
Black Friday boosts central London shopper numbers despite lockdown November 30, 2020 Black Friday boosted retail footfall in central London last week despite the closure of all non-essential shops. Footfall rose 4.8 per cent across all UK retail destinations compared to the previous week, soaring 21.6 per cent in central London and 5.1 per cent in outer boroughs. UK high streets and retail parks benefited the most [...]
