Coronavirus pressure drives down number of permanent jobs November 5, 2020 The number of permanent staff appointments fell in October as rising Covid-19 cases weighed heavily on recruitment plans, with jobs in retail, hotels and catering hit particularly hard. Greater uncertainty drove a marked rise in temporary placements, according to the latest KMPG and REC report on jobs, and overall demand for staff fell. Widespread reports [...]
Boohoo and Nike grilled over supply chain links to slave labour in China November 5, 2020 MPs this morning grilled fashion firms, including Boohoo and Nike, over potential supply chain links to slave labour and exploitation in China. The retailers’ sourcing and sustainability bosses were today called in to give evidence to the Business Select Committee, as part of an investigation into the extent to which the products of forced labour [...]
Sainsbury’s to slash 3,500 jobs and close Argos stores November 5, 2020 Sainsbury's will cut 3,500 jobs and close 420 Argos sites, as the firm posted a £137m loss for the first half of the year.
The City View: Eric Heerema of Nyetimber on creating a luxury brand to rival Champagne November 4, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian talks to Eric Heerema, chief executive of Nyetimber – the UK’s leading sparkling wine maker and a truly global, luxury brand. This podcast is sponsored by CMC Markets. 79% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You [...]
Shepherd Neame swings to a loss ahead of new hospitality restrictions November 4, 2020 Britain’s oldest brewer Shepherd Neame swung to a loss in the last financial year due to the impact of the coronavirus lockdown. The pub chain posted a loss before tax of £12.1m in the year ended 27 June, compared to profit of £3.5m the previous year. Turnover dropped from £145.8m to £123.6m, reflecting the three [...]
Fitness industry rolls orange tank into Parliament Square in lockdown protest November 4, 2020 Fitness firms sparked chaos this morning after driving an orange tank through Westminster to protest the sector’s closure during the upcoming lockdown. Among the protesters was former England rugby international James Haskell, who was filmed releasing orange smoke from the armoured vehicle in Parliament Square. The disruptive stunt, which was organised by fitness brand Grenade, [...]
John Lewis axes 1,500 head office jobs November 4, 2020 John Lewis has announced it will axe a further 1,500 jobs as part of its plan to return to profit. The retailer said this morning that it will cut the head office roles by April next year, in a move that will save £50m as it targets £300m in cost reductions by 2022. It will [...]
Mercato Metropolitano reopens as police reverse closure decision November 4, 2020 Food hall Mercato Metropolitano will open today after police reversed their decision to force it to close early ahead of the new lockdown. Earlier today the venue announced that it had been ordered to close until further notice by police after its last customers left at seven minutes past the 10pm curfew time on Monday. [...]
Hong Kong private equity firm acquires majority stake in footwear retailer Clarks November 4, 2020 Hong Kong private equity firm Lionrock Capital has confirmed it will acquire a £100m majority stake in high street footwear retailer Clarks. The deal is dependent on Clarks securing shareholder approval for its restructuring plan, which will allow the retailer to close stores and move to a turnover-rent model. Lionrock Capital will acquire a majority [...]
Marks & Spencer posts first loss in firm’s history November 4, 2020 Marks & Spencer posted its first loss in 94 years as a publicly listed company as clothing sales collapsed due to the coronavirus crisis. The high street stalwart reported a £87m pre-tax loss for the first half of the year. In the same period last year it made a profit of £158.8m in the same [...]
