Ted Baker seeks £95m coronavirus rescue raise as it books £80m loss June 1, 2020 Fashion retailer Ted Baker today set out plans to raise £95m in rescue cash to fund its escape from the coronavirus crisis, as it revealed losses amounted to almost £80m last year. Ted Baker, which was hit by a scandal in 2019 after its founder quit over allegations of misconduct, is selling cut-price shares to [...]
Primark set to reopen all English stores on 15 June June 1, 2020 High-street stalwart Primark is seeking to reopen all of its 153 stores in England by 15 June, its owner Associated British Foods said today. The announcement came after the UK government reiterated its “roadmap” for reopening the economy. It said non-essential retailers can open from the middle of this month after a lengthy period of [...]
Losses at UK’s top restaurants jump to £151m June 1, 2020 Losses at the UK’s top 100 restaurants increased to £151m last year, a figure that will only worsen as the industry grapples with the impact of the coronavirus. Figures from accountancy group UHY Hacker Young show a 94 per cent increase in losses, from £78m the year before. The government has tentatively set out plans [...]
Ikea introduces social distancing wardens as it prepares for reopening May 31, 2020 Ikea is introducing social distancing wardens as part of a string of safety measures being implemented ahead of reopening on Monday. The retailer will reopen 19 stores across England and Northern Ireland from tomorrow, with click and collect facilities also opening in a phased approach. Ikea stores in Scotland, Wales and the Republic of Ireland [...]
Pret a Manger set for crucial rent talks with landlords May 31, 2020 Fast food chain Pret a Manger is preparing for rent talks with its landlords in a bid to stave off closing some stores due to the coronavirus crisis. The chain, a favourite of office workers around the UK, is preparing for a shift in footfall in city centres as working patterns shift due to the [...]
Camden Market to operate one-way system as it prepares for June reopening May 29, 2020 The owner of Camden Market today outlined plans for a phased reopening of the north London shopping hotspot from 1 June. Landlord Labtech said the venue will reopen on Monday in line with the government’s plans to ease the coronavirus lockdowns for open-air markets and car dealerships. The canal-hugging tourist trap will implement a one-way [...]
Bella Italia owner in talks over sale that could save 6,000 jobs May 29, 2020 The owner of high street restaurant chains Bella Italia and Cafe Rouge is in talks with multiple parties over a potential sale of the business, just days after it seemed to be on the brink of collapse. The development, which was first reported by the Telegraph, comes after the Casual Dining Group, which also owns [...]
Hostel company Safestay boosted revenue last year as it reveals plans to restart business May 29, 2020 Hostel company Safestay said today it boosted revenue in 2019 as it laid out plans to reopen its hostels as the coronavirus crisis begins to abate. Safestay said revenue for the year to 31 December increased 26 per cent to £18.4m with like-for-like sales up seven per cent. The company posted a loss before tax [...]
Paddy Power owner Flutter raises £812m in share placing May 29, 2020 Paddy Power owner Flutter today said it has raised £812m in a share placing that will see Rupert Murdoch’s Fox Corporation boost its holding in the gambling giant. Flutter, which also owns Betfair and Poker Stars, said it placed more than 8m new shares at £101 each, marking a 4.7 per cent discount on last [...]
B&M gets lockdown sales boost as customers turn to DIY May 29, 2020 Discount chain B&M today reported a sharp rise in sales as customers stockpiled groceries and DIY equipment during the coronavirus lockdown. In the first eight weeks of the new financial year the retailer posted a 22.7 per cent rise in life-for-like revenue, as surging demand for gardening and DIY products offset a decline in customer [...]
