City workers’ favourite spots in trouble as vacant units soar over lockdown February 11, 2021 The City’s after-work drinking spots, dry-cleaners and restaurants are all in trouble as new figures reveal the number of empty units have soared to a five-year high. The number of vacant units in the City of London increased a staggering 47 per cent, according to the Local Data Company, as the pandemic decimates the area’s [...]
Marks & Spencer unveils plans to replace retail space with offices at Marble Arch store March 9, 2021 Marks & Spencer (M&S) has unveiled plans to redevelop its Marble Arch store, with some retail space set to be replaced by offices. Under proposals announced this afternoon, M&S said the lower levels of the West End store would remain as retail space offering its food and clothing and home ranges. However, the upper floors [...]
Fast Lane: Lookers raises profit guidance despite challenging market conditions October 6, 2021 Lookers, a leading UK motor retail and aftersale group, has lifted profit expectations for the year on the back of promising Q3 results. While new car sales flagged amid a global semiconductor chip shortage Lookers has outperformed the market by around 3.4 percentage points. Despite the dip the company has said it is expecting profit [...]
Ocado CEO Tim Steiner: M&S products are more popular than Waitrose March 18, 2021 Ocado’s M&S products are favoured over the former Waitrose partnership products with customers, as the company enjoys a doubling of new registrations, the company’s chief executive said this morning. “The M&S product is more popular with our customers than the Waitrose products were,” chief executive Tim Steiner said during an investor call earlier this morning. [...]
Cold and costly winter worries: Petrol and gas prices soar October 5, 2021 Brits are bracing for a cold winter as petrol prices hit their highest level in eight years and UK natural gas prices hit record highs. There have been concerns that families in the UK could be forced to “eat or heat” this winter. Gas prices for November delivery have rocketed, surpassing £3 a therm for [...]
Exclusive: London pubs, restaurants and hotels to claim almost £200m in restart grants March 8, 2021 London pubs, restaurants and hotels are set to receive almost £200m in extra government grants to help them reopen after the latest coronavirus lockdown. Around 13,000 hospitality businesses across the capital will be eligible to claim £184.2m in the restart grants, City A.M. can reveal. Research by real estate adviser Altus Group showed 3,632 pubs [...]
Online retailer CMO eyes £100m AIM listing in bid to disrupt building materials market June 25, 2021 Online-only building materials firm CMO is set to list on London’s AIM market next month, the company announced this morning. City A.M. understands that the Plymouth-headquartered outfit is likely to fetch a valuation of around £100m. CMO will be looking to follow in the footprints of fellow home improvement retailers Victorian Plumbing, which listed on [...]
Land Securities losses widen with work-from-home measures May 18, 2021 Commercial property firm Land Securities has seen its full-year loss widened this morning, as its London-centric office portfolio crumbled under work-from-home measures. The FTSE 100 firm has reported a loss before tax of £1.39bn for the 12 months ending 31 March, compared with a loss of £837m the year before. The pandemic pushed many companies [...]
New £350m Barking development to see 1,089 riverside homes built July 5, 2021 Weston Homes is building a £350m riverside development in Barking that will see 1,089 new one, two and three bedroom apartments built in the area. Alongside residential space, the new Abbey Quay development will feature 22,281 square feet of commercial and leisure space, which will include a restaurant, local shops, cafes, a gym and a [...]
Supply chain pioneers, CORE (UK) Ltd win The Queen’s Award for Enterprise for International Trade May 7, 2021 We’ve launched our 5 step guide to building a digital supply chain which you can download here https://www2.core-uk.com/5-steps-to-advance-your-digital-supply-chain/ UK’s most prestigious business accolade awarded to independently owned digital supply chain management pioneers CORE (UK) Ltd for growth and commercial success in international trade Software innovation is at the heart of CORE’s international growth success. Their [...]