Shaftesbury collects less than half of owed rent since pandemic began September 25, 2020 The real estate investment trust, Shaftesbury, has collected just 41 per cent of rent in the six months ending 30 September, it said. Shaftesbury, which owns a 16-acre property portfolio in the heart of London’s West End, has also decided not to declare a final dividend for the year ending 30 September 2020 as a result. It said it [...]
Boohoo’s share price jumps as independent review absolves firm of deliberately allowing poor working conditions September 25, 2020 Boohoo’s share price rose by more than 13 per cent in early morning trading after an independent review absolved the fast fashioner retailer of allegations that it deliberately allowed poor working conditions and low pay at its suppliers. The review was conducted by Alison Levitt QC following the “sweatshop” scandal, which highlighted poor working practices at [...]
Next boss warns thousands of retail jobs set to become ‘unviable’ September 25, 2020 The boss of fashion retailer Next has warned that hundreds of thousands of retail jobs could become “unviable” due to a more permanent shift to online shopping caused by coronavirus. Lord Wolfson, who heads up the British high street chain, said there were tough times ahead for the sector, following the Chancellor’s announcement of the [...]
Act now to prevent culture sector collapse, say MPs September 24, 2020 The government should take immediate action to protect the UK’s cultural and sporting sectors, the parliamentary Digital, Culture, Media and Sport (DCMS) committee warned today. In a letter to culture secretary Oliver Dowden, lawmakers urged officials to use the pause created by the latest Covid-19 restrictions to implement a number of recommendations that would enable [...]
A quarter of hospitality firms could go bust by the end of the year without more government support September 23, 2020 New data from the pub industry released today showed that almost a quarter of hospitality businesses think they will go bust by the end of the year without new government support. Yesterday Boris Johnson unveiled sweeping new measures to curb a rise in coronavirus cases, including a 10pm curfew on all hospitality firms. The move, [...]
Fast food bosses urge Rishi Sunak to put in place new support schemes September 23, 2020 The bosses of some of the UK’s largest restaurants have tonight written to chancellor Rishi Sunak urging him to provide more support for the sector after new coronavirus measures were put in place yesterday. In the letter, the chief executives of fast food giants such as Itsu, KFC and Pizza Hut, along with takeaway service [...]
Asda to ‘Covid-proof’ trolleys and hire 1,000 safety marshals September 23, 2020 Asda has revealed a new investment plan to make its supermarkets Covid-secure, including the use of technology found in NHS coronavirus hospitals. The supermarket giant said it would appoint 1,000 new safety marshals stationed outside doors and in aisles, to make sure customers are wearing masks and maintaining a social distance from other shoppers. It [...]
Tesco boss warns against panic buying after new virus restrictions September 23, 2020 Tesco chief executive Dave Lewis has said there is no need for customers to be panic buying groceries, following new restrictions imposed across the UK to combat a second wave of coronavirus infections. Images have been shared on social media of supermarket shelves stripped of food staples such as pasta and flour, bringing back memories [...]
Luke Johnson: 1m employees on furlough face redundancy September 23, 2020 Former Pizza Express boss Luke Johnson has warned that at least a million jobs could be lost in the hospitality industry as the government tightens restrictions. Speaking to BBC Newsnight, the restaurant mogul predicted that if the government cut all subsidies, “of the 3m [on furlough] at least a million, maybe more, will be made [...]
Ralph Lauren to cut 15 per cent of global workforce September 22, 2020 Fashion magnate Ralph Lauren has said it will cut around 15 per cent of its global workforce, as it seeks to recover costs and streamlines its offering to focus more on digital channels. The cuts, which will take place by the end of this fiscal year, could affect up to 3,700 jobs. The layoffs could [...]
