Marston’s and Carlsberg to unite brewing operations in £780m joint venture May 22, 2020 UK pub chain Marston’s share price skyrocketed today as it announced a plan to merge its brewing business with Carlsberg’s UK division in a £780m deal. The joint venture will value Marton’s Brewing Business at up to £580m and Carlsberg’s at £200m. But despite Marston’s superior valuation, the pub chain will only own 40 per [...]
Which south London pubs are serving pints this weekend? A non-exhaustive list May 22, 2020 The pint. The perfect measure; not too big, not too small. And now available in takeaway milk cartons in a host of pubs across south London. Here’s City PM’s very much non-exhaustive list of pubs south of the river that will allow you to have something cold, fizzy and poured by somebody else over this [...]
Wetherspoon to rely on app more than ever under plan to reopen all 875 pubs May 22, 2020 JD Wetherspoon has outlined plans to invest £11m in reopening its pubs, including installing screens and providing hand sanitiser and protective clothing for staff. The pub chain said it will reopen all of its 875 pubs in the UK and Ireland when it gets the go-ahead from governments, and all pubs will operate their usual [...]
Burberry cuts dividend as sales dive during coronavirus pandemic May 22, 2020 British fashion brand Burberry said this morning that it will not pay a full-year dividend as it revealed that fourth quarter sales plunged due to coronavirus lockdowns around the world. The luxury retailer said sales in the fourth quarter were down 27 per cent and 60 per cent of its stores were closed at the [...]
UK retail sales crash a record 18.1 per cent in April lockdown May 22, 2020 UK retail sales plunged by a record 18.1 per cent during April’s lockdown, data showed today, with clothing sales halving compared to March. Sales of clothes crashed 50.2 per cent compared to March, while retail sales fell almost four times as badly as March’s 5.2 per cent fall, Office for National Statistics (ONS) data found. [...]
Carluccio’s cuts 1,000 jobs but 30 restaurants saved in rescue deal May 22, 2020 Italian restaurant chain Carluccio’s has been bought out of administration by the owner of Giraffe and Ed’s Easy Diner, resulting in the loss of more than 1,000 jobs. In total 40 Carluccio’s restaurants across the UK will close and 1,019 members of staff will be made redundant, administrators FRP Advisory announced this morning. Around 800 [...]
Consumer confidence ‘battered and bruised’ by coronavirus crisis May 22, 2020 Consumer confidence has been “battered and bruised” by the coronavirus crisis, new research has found as optimism remained low despite the easing of lockdown restrictions. The latest data showed that confidence was at minus 34 as consumers were concerned about the economic impact of the pandemic, with unemployment claims rising amid warnings of a recession. [...]
Coronavirus: CMA investigating holiday firms over refund claims May 21, 2020 The UK’s competition watchdog is investigating package holiday firm’s over their failure to refund customers for cancelled holidays. According to its latest statistics, the Competition and Markets Authority (CMA) has received over 60,000 complaints from customers regarding the coronavirus crisis since 10 March. Of these, it said that 27,000 related to complaints about “unfair practices” [...]
On the Beach to place 20 per cent of share capital in Covid-19 fundraise May 21, 2020 Travel company On the Beach has announced it will place new shares worth up to 20 per cent of its existing share capital to raise additional funding through the coronavirus crisis. The step is the latest that the firm has taken in order to shore up its finances in the face of the crisis, which [...]
Historic department store Macy’s set for $1bn first quarter loss May 21, 2020 Historic US department store Macy’s warned today that it could see first quarter losses of over $1bn (£820m) due to the coronavirus lockdowns. Retail outlets around the world have been battered by the stringent restrictions, which has seen many shops shut their doors for over a month on governmental instruction. In a release, Macy’s said [...]
