Prosus hikes Just Eat bid as it ramps up pressure on rival Takeaway.com December 9, 2019 Just Eat bidder Prosus today said it has increased its takeover offer, as the tech group looks to fend off a rival bid from Takeaway.com. Prosus, which is owned by South African conglomerate Naspers, has hiked its offer from 710p per share to 740p per share. Read more: Takeaway.com slams Prosus ‘scaremondering’ in battle to [...]
Late payments: Firms wait twice as long for cash in 2019 December 9, 2019 The UK’s small and medium-sized businesses are being stretched by customers failing to pay them on time, according to a survey from business body Market Finance. Firms had to wait an average of 23 days to receive their money in 2019, the survey found, up from 12 days in 2018. Read more: Government proposes measures [...]
World’s largest whisky collection expected to fetch £8m at auction December 9, 2019 Auctioneers have unveiled what is believed to be the world’s largest private collection of whisky to ever go under the hammer. The collection, which is expected to fetch between £7m and £8m at auction, includes over 3,900 bottles. Read more: South African drinkers get their whisky fix with post-Brexit trade deal It was built up [...]
Tesco leads FTSE 100 risers as it weighs up Asia sale December 9, 2019 Shares in Tesco rose more than five per cent in early trading today, as investors welcomed reports that the company is exploring a sale of its Asian businesses. The supermarket giant has confirmed that it will launch a strategic review of options for its businesses in Thailand and Malaysia, including a potential sale. Read more: [...]
Angling Direct expansion continues as it reels in record Black Friday sales December 9, 2019 Fishing giant Angling Direct hailed a record period of trading over the Black Friday week as savvy discounting helped drive up profit. Read more: Angling Direct records 21 per cent rise in H1 sales The retailer reported an 11.3 per cent rise in sales to £1.86m between 25 November and 2 December, with Black Friday [...]
UK restaurants and pubs hope for festive spending surge December 9, 2019 Restaurant and pub operators are hoping for a surge in festive spending after a slump in dining-out dented restaurant and pub food sales in the run-up to Christmas, according to research analysing sales at some of the UK’s best-known chains. Restaurant groups suffered a 0.1 per cent slump in food sales in November as wet [...]
Wet weather dampens November retail footfall figures December 9, 2019 Wet weather and the anticipation of Black Friday deals dampened retail footfall figures last month, according to the latest research. Footfall declined 3.4 per cent in November, compared to a drop of 3.2 per cent in the same month last year, as shoppers held out for Black Friday bargains. Read more: Retail footfall down 10 [...]
London luxury hotel market booms as weak sterling attracts tourists December 9, 2019 The London luxury hotel market has boomed in the last year as the fall of sterling against the dollar has attracted a surge in international tourists, new research showed. In total, 50 new luxury and premium hotels have opened in the UK in the last year, growing the number to 3,380. Meanwhile the number of [...]
Exclusive: Chilango eyes restaurant closures as it prepares to launch CVA December 8, 2019 Chilango is considering shutting some of its restaurants as it fights to avoid administration. The stricken Mexican chain will launch a company voluntary arrangement (CVA) as soon as tomorrow, ahead of a crunch meeting with shareholders next week. Read more: Questions over Chilango’s future after burrito chain calls in restructuring firm RSM The controversial restructuring [...]
Pho owners consider sale of restaurant chain December 8, 2019 The private equity owner of Vietnamese-style fast food chain Pho is considering offloading the business. Gresham House, which bought the fund and investment manager in charge of Pho from Livingbridge last year, is reportedly mulling a sale of the London-based casual dining chain. Read more: Food delivery apps serve up extra £400m in restaurant revenue [...]
