Revolution Bars taps investors for £15m to cut debt during coronavirus crisis June 5, 2020 Revolution Bars is preparing to tap investors for £15m to slash debt and help it weather the coronavirus crisis while its venues are closed. The chain, which was forced to close its 74 bars when the government imposed a coronavirus lockdown in March, said the proceeds will be used to “achieve an appropriate level of [...]
Coronavirus: How safe is it to order takeaway food in lockdown? June 5, 2020 Restaurants have started pivoting to takeaway services amid the pandemic to stay afloat as normal service will only be able to resume, in some capacity, in July. The government has not ruled out restaurants from offering takeaway services and last month issued guidance. We look at how safe it is to order takeaway food and [...]
The business of running: Trainer sales and fitness apps boom in lockdown June 5, 2020 Running in the UK has been booming for years, with Parkrun events attracting hundreds of thousands each Saturday and amateur athletes comparing their fastest times on new tracking apps. That trend has only accelerated under the coronavirus lockdown, albeit in a more solitary way. As normal life has ground to a halt, huge numbers of [...]
Consumer confidence hovers near record low during coronavirus crisis June 5, 2020 Consumer confidence continued to teeter on the brink of hitting record lows during the ongoing coronavirus crisis. Consumer confidence dipped two points to minus 36, just three points above the record low of minus 39 reported in July 2018, as house prices fell and unemployment rose. However, GfK’s major purchase index rose six points, showing [...]
A menu of options to keep our restaurants alive June 4, 2020 You all know the image: a politician enjoying a pint or a meal at their local restaurant. There are handshakes all round and a picture is posted on Twitter. It is — rightly — a scene that shows MPs or councillors backing businesses, particularly the small and medium sized enterprises which make up the lifeblood [...]
Pubs say ‘time running out’ to be ready for 4 July reopening June 4, 2020 The UK’s pub lobby has warned the government that its members urgently need clarity on how it will reopen the sector if they are going to be ready by the target date of 4 July. The British Beer and Pub Association (BPPA) said today that pubs will need at least three weeks’ notice for when [...]
Debenhams reveals first UK stores to reopen this month June 4, 2020 Debenhams has revealed which UK stores are set to reopen when lockdown restrictions are eased for retailers later this month. The department store chain said three Northern Ireland stores. Including the Belfast flagship shop, will open on 8 June. A further two stores will open in Northern Ireland shortly after. In England, 50 stores will [...]
LVMH explores impact of coronavirus on Tiffany deal terms June 4, 2020 Louis Vuitton owner LVMH has moved to dispel speculation that its acquisition of jewellery brand Tiffany & Co is on the brink of collapse, but confirmed that it has discussed the impact of coronavirus on the deal. LVMH agreed to buy Tiffany last year for $16.2bn. However, LVMH has reportedly been planning to try and [...]
Loungers expands takeaway service as restaurant chain gears up for July reopening June 4, 2020 Cosy Club owner Loungers will expand its takeaway service next week as the cafe and restaurant chain gears up to reopen in July. The company, which also owns the Lounge chain, has opened 17 sites for takeaway and will open a further 10 Lounge sites over the next week. Loungers said it could open more [...]
Coronavirus: Lookers to slash 1,500 jobs and shutter showrooms June 4, 2020 Car dealership Lookers today said it will cut roughly 1,500 jobs and close 12 showrooms as it reels from the impact of Covid-19. The struggling motoring chain, which employs roughly 8,100 people, said it will start consultations on the cuts across the business. Lookers also said it had identified a further 12 showrooms for closure, [...]
