Carlyle invests $250m in third-party reseller Pharmapacks November 12, 2020 Private equity giant Carlyle has invested $250m in US e-commerce firm Pharmapacks, one of Amazon’s largest third-party resellers. Launched initially as a pharmacy shop in 2010, Pharmapacks has grown into an online retailer focused on health, personal care and beauty products. The investment, which values Pharmapacks at approximately $1.1bn, came from Carlyle Partners VII, a [...]
Over 90 per cent of summer holidays cancelled despite travel corridors November 12, 2020 Over 90 per cent of holidays in July and August were cancelled this year due to the coronavirus pandemic, despite the opening of travel corridors. New figures from travel industry association ABTA have brought to light the full extent of the damage done to the sector by coroanvirus. As a result of the slew of [...]
Young’s swings to a loss in ‘toughest period’ of 189-year history November 12, 2020 Pub chain Young’s swung to a loss in what it called one of the “toughest years” in its 189 years of trading, but said it has the resilience to survive the coronavirus crisis. The company this morning said it has the resources and funds to “see through the very worst that this pandemic can throw [...]
Discounter B&M worth more than Sainsbury’s as profits soar over Covid-19 lockdown November 12, 2020 High street discounter B&M has reported a 95% rise in first-half core earnings as its low prices and out-of-town stores chimed with consumers during the Covid-19 pandemic.
Google searches for ‘takeaway pints’ rise 3,000% in a week November 12, 2020 Brits are missing the pub during the latest coronavirus lockdown, new research showed, as searches for reopening dates and takeaway pints rocketed during the first week of new restrictions. According to analysis of Google data, last week searches for “when can pubs reopen in England” soared 2,501 per cent. Meanwhile, the question “what pubs are [...]
Homebase up for sale following major structural overhaul November 11, 2020 DIY chain Homebase is up for sale again following two and a half years of major structural overhaul by its most recent buyers. It is understood the sales process will start in the coming days, with initial details set to be sent to prospective buyers – including other retailers and private equity, The Telegraph reported [...]
Restaurants and pubs granted extension to provide takeaway services until 2022 November 11, 2020 Restaurants, pubs and cafes have been given the green light to provide takeaway services for another year, providing a “lifeline” during the coronavirus pandemic. The government announced today that hospitality firms will be allowed to offer food and drink takeaways until March 2022 without having to go through a planning application process. Rules around takeaway [...]
Six London music venues at risk of ‘imminent’ closure November 11, 2020 The music industry has launched a crowdfunding campaign to help secure the future of six grassroots venues in London that are in “imminent” danger of permanent closure. Kings Cross nightclub Egg, Islington favourite The Lexington and Camden’s Spiritual Bar have been named among the capital’s music hotspots that are most at risk of closure. The [...]
Guinness recalls non-alcoholic stout over safety concerns November 11, 2020 Guinness has urged customers not to drink its new non-alcoholic stout due to a microbiological contamination. The brand, which is owned by drinks giant Diageo, recalled its Guinness 0.0, saying the product may not be safe to consume. Guinness’ alcoholic stout is not affected by the contamination issue. It told customers to return the non-alcoholic [...]
MPs launch inquiry into future of UK music festivals November 11, 2020 MPs have launched an inquiry into how to ensure the survival of UK music festivals after the sector was decimated by the outbreak of coronavirus. The vast majority of festivals, including Glastonbury, British Summer Time and Parklife, were cancelled this summer due to the pandemic, with revenues down an estimated 90 per cent. The inquiry, [...]
