FRC watchdog probes EY audit of Thomas Cook accounts October 1, 2019 The UK’s financial watchdog has launched an investigation into EY’s audit of Thomas Cook’s last set of financial results. The Financial Reporting Council (FRC) has started its probe into EY’s audit of the collapsed tour operator’s financial year ending 30 September 2018. Read more: DEBATE: Is Thomas Cook’s boss right to defend his high pay? [...]
How business rates reform can thwart the retail apocalypse October 1, 2019 When businesses like Thomas Cook fail to adapt, they are smited by new technologies with leaner business models and more efficient practices. This is Joseph Schumpeter’s creative destruction in action. Yet there is something profoundly bleak about boarded-up shops or “clearance sales” posters in the windows of once thriving businesses – particularly as the demise of [...]
Gousto to create 700 jobs as recipe box firm turns to tech October 1, 2019 Recipe box specialist Gousto has revealed plans to create more than 700 jobs in the UK as it doubles down on its technology offering. Read more: Recipe box startup Gousto secures £30m funding The London-headquartered firm said most of the hires will be based in its tech team, with new positions created in data science, [...]
Mobile shopping platform Rezolve secures bumper deal with Samsung September 30, 2019 Mobile shopping platform Rezolve has secured a deal with Samsung to make its technology available on the South Korean firm’s smartphones. The London-based tech startup said its product will be embedded directly into Samsung’s Bixby Vision software and will be available in the US later this year. Read more: Samsung prepares to release new foldable [...]
Jamie Oliver bags £5.2m payday despite restaurant chain collapse September 30, 2019 Jamie Oliver took home £5.2m last year as his business empire suffered a slump in profit following the collapse of his restaurant chain. The chef’s food and media business increased sales to £43.5m in the year to December 2018, but pre-tax profit almost halved to £7.8m. Read more: SSP buys three Jamie Oliver restaurants saving [...]
Asics blames hackers for pornography playing in its shop September 30, 2019 Sports shop Asics has blamed hackers after a screen above the entrance to it flagship store in Auckland played pornography for nine hours. The company said “an unknown person gained access to the screens above our Central Auckland store and some objectionable content was displayed on the screens. We would like to apologise to anyone [...]
Losses widen at English winemaker Chapel Down as it continues expansion September 30, 2019 Losses at listed English winemaker Chapel Down grew to over £1m in the six months to 30 June as it continued to invest in expansion. The Nex-listed company said today it made a loss before tax of £1.7m, up from £581,851 at the same period last year. Read more: British winemaker Chapel Down grows revenue [...]
Thomas Cook: Customers face two-month wait for holiday refunds September 30, 2019 Refunds for package holidays booked with liquidated UK travel giant Thomas Cook could take up to two months to reach customers, the UK’s aviation body warned today. The Civil Aviation Authority (CAA) said that while direct debit customers can expect refunds within two weeks, other people face a wait of up to 60 days. Read [...]
Fashion giant Forever 21 files for bankruptcy September 30, 2019 Forever 21 has filed for Chapter 11 bankruptcy, becoming the latest retail chain to fall victim to challenges on the high street. The global fashion brand has requested court protection from creditors in the US, joining more than 20 other retailers which have filed for bankruptcy in the last two years. Read more: Retail sales [...]
Goals Soccer Centres warns HMRC black hole could be higher than £12m September 30, 2019 Goals Soccer Centres has warned that a black hole in its accounts could be “materially higher” than the £12m it had previously disclosed as it officially de-listed from London’s Aim stock market. The company suspended shares in March after saying its financial results had contained a misdeclaration of VAT, which have raised suspicions of tax [...]
