Young Britons worst hit by Covid lockdowns, says new study November 8, 2020 Young people have been disproportionately affected by the UK’s Covid lockdowns and other restrictions, according to a new study. A study by NatWest/Centre for Social Justice found 20 per cent of all Britons saw their income fall this year, with 27 per cent of young people reporting decreases. Debit card spending on local services, such [...]
Private equity circles William Hill’s European arm November 8, 2020 Buyout firms are once again circling William Hill, this time for its European operations following a deal with American firm Caesars Entertainment. In late September William Hill said it had given Caesars Entertainment the green light for a £2.9bn deal, which will be put to a shareholder vote on 19 November. Once shareholders have approved [...]
More than 2,000 jobs at risk as Edinburgh Woollen Mill collapses into administration November 6, 2020 High street giant Edinburgh Woollen Mill has collapsed into administration, putting more than 2,000 jobs at risk in the latest blow to the beleaguered UK retail sector. The firm, which is owned by billionaire businessman Philip Day, has appointed FRP Advisory as administrators to its Edinburgh Woollen Mill and Ponden Home brands, it announced this [...]
London tops list of The World’s 50 Best Bars… But who won? November 6, 2020 Today of all days, as the UK enters its second lockdown, seems like a strange time to celebrate the world’s finest bars. But Londoners were today given a reminder of exactly what we’re missing, with the capital being crowned the undisputed champion of the drinking world in the new list of the 50 best bars [...]
New boss at Pizza Express as slice taken out of debt pile November 6, 2020 Pizza Express has appointed a new chairman and chief executive, Allan Leighton and David Campbell respectively, and reduced its debt pile by £400m after completing its recapitalisation. The new capital structure has reduced debt by more than £400million, from £735million to £319million, and includes the immediate injection of £40million of new capital. The business also [...]
Bakery giant Hovis sold to private equity firm Endless November 6, 2020 Bakery brand Hovis has been acquired by Endless, a UK based mid-market private equity firm, for an undisclosed sum. The company confirmed this morning that the terms of the agreement have been approved by both the Gores Group and Premier Foods, Hovis’ current owners. The acquisition enables Hovis to focus on further tapping into growing [...]
Luxury hotel group Mandarin Oriental warns of ‘significant’ full-year loss November 5, 2020 Luxury hotel group Mandarin Oriental today warned that it will report a “significant” loss for the full year after demand for city centre accommodation crashed during the coronavirus pandemic. The firm, which counts a five-star Knightsbridge hotel among its portfolio, said business levels remain low in most locations due to Covid-19 restrictions. Manderin Oriental this [...]
Superdry pins hopes on Black Friday sales during lockdown November 5, 2020 Superdry is cutting prices and targeting strong online Black Friday sales while its stores are closed during the coronavirus lockdown in England. The fashion retailer, which today reported that total revenue declined 23.3 per cent in the first half of the year, said it is focused on boosting ecommerce sales on Black Friday. It has [...]
Drinkers and shoppers flock to high streets to toast last night before lockdown November 5, 2020 Drinkers and shoppers flocked to pubs and high streets yesterday ahead of the introduction of a new nationwide coronavirus lockdown in England. The latest footfall data showed that high street visitor numbers surged 23.5 per cent on Wednesday compared to the previous week as consumers squeezed in a final pint or shopping trip before restrictions [...]
Ex-BHS owner Dominic Chappell found guilty of tax evasion November 5, 2020 Businessman Dominic Chappell has been convicted of tax evasion on £2.2m of income he received from his £1 deal to buy the failed retailer. Chappell was convicted by a jury at Southwark Crown Court this afternoon, of all three counts of defrauding the public revenue out of value added tax, corporation tax and income tax [...]
