Paddy Power-owner Flutter says revenue resilient despite sport shutdown April 17, 2020 Paddy Power Betfair’s parent company Flutter today said its revenue had not been hit as hard as expected by the shutdown in sport across the world because of coronavirus. In its results for the first quarter the gambling group said continued horse racing in Australia and the US meant that revenue decline had not been [...]
Coronavirus: UK pubs and restaurants suffer 60 per cent sales dive in March April 17, 2020 The UK’s pubs, restaurants and bars suffered an almost 60 per cent drop in sales last month as a lockdown was implemented to slow the spread of coronavirus. Managed pubs reported a 57.8 per cent sales drop, restaurant sales plunged 56.2 per cent and bars suffered a 60 per cent dive in sales. London was [...]
Competition watchdog revokes ban on Takeway.com and Just Eat integration April 16, 2020 Just Eat Takeway has been given the go-ahead to integrate the two food delivery businesses after the UK’s competition watchdog revoked an order to keep the firms separate. The Competition and Markets Authority (CMA) issued an initial enforcement order in January, which prevented the two food delivery firms from integrating their businesses. Amsterdam-based Takeaway.com bought [...]
Recipe box firm Gousto secures £33m investment as coronavirus boosts business April 16, 2020 Recipe box firm Gousto has secured £33m in new funding from investors including celebrity fitness coach Joe Wicks, as growth in the meal-kit market has been accelerated by the coronavirus outbreak. The funding round was led by Perwyn, BGF, and MMC Ventures and Joe Wicks, taking the total funds raised to more than £130m in [...]
Storage firm Big Yellow suffers drop in occupancy due to UK coronavirus lockdown April 16, 2020 Storage provider Big Yellow suffered a drop in occupancy after the coronavirus lockdown was announced as customers rushed to collect their belongings. There was a spike in activity after the government imposed coronavirus lockdown measures, with a net overall occupancy loss of 23,000 sq ft in the final two weeks of March, compared to a [...]
Coronavirus: Amazon to close warehouses in France after court order April 16, 2020 Amazon has been forced to close its warehouses in France after it was ordered to only deliver essential goods such as food and medical supplies during the coronavirus crisis. The US retail giant will close its six warehouses in France from today until at least 20 April following the court order. Around 10,000 permanent and [...]
UK retail sales suffer worst fall in 25 years due to lockdown April 16, 2020 UK retail sales suffered the worst decline on record last month due to the coronavirus lockdown, however food and online sales jumped as Brits stayed at home. Total UK retail sales decreased 4.3 per cent in March, against a drop of 1.8 per cent in 2019, which is the worst fall in 25 years, following [...]
Dunelm boss takes 90 per cent pay cut as retailer seeks coronavirus loan April 16, 2020 The chief executive of Dunelm will take a 90 per cent pay cut, the homeware retailer announced this morning as it confirmed it is eligible for a coronavirus loan. Chief executive Nick Wilkinson will be paid 10 per cent of his salary for at least three months, while chairman Andy Harrison and other non-executive directors [...]
Jobs lost as Oasis and Warehouse fall into administration due to coronavirus April 15, 2020 High street retailers Oasis and Warehouse have today fallen into administration, resulting in the loss of 202 jobs. In total, 41 head office jobs will be retained to assist Deloitte, which has been appointed as administrator, while 1,801 employees will be furloughed. The Oasis, Warehouse and Idle Man brands will continue to trade online in [...]
London hotel market ‘set for strong post-coronavirus recovery’ April 15, 2020 London’s hotel market could make a complete recovery by the end of next year if coronavirus restrictions are lifted by the end of June, according to the latest research. Knight Frank research found that there could be a surge in UK investment volumes in the final months of 2020, and showed that the hotel market [...]
