Frankie & Benny’s: Why this failing chain still holds a place in my heart June 4, 2024 Frankie & Benny's may be crap but my childhood self remains sitting in one of those booths, smile stained red
Gap to close all 81 stores in UK and Ireland July 1, 2021 American retailer Gap has confirmed it will close all its 81 stores in the UK in a phased exit and move online-only for the region. The US fashion giant said it would close the stores in a “phased manner” between the end of August and end of September. It comes just a few weeks after [...]
Broadgate developer British Land posts annual loss as pandemic wipes £2bn off portfolio May 26, 2021 British Land posted its third consecutive annual loss as empty shops and offices squeezed the valuation of its portfolio. The commercial landlord said the value of its portfolio fell 10.8 per cent from £11.1bn to £9.1bn in the year ended 31 March. It reported a pre-tax loss of £1.08bn compared with a loss of £1.11bn [...]
Intu sees rent payments dive amid UK coronavirus crisis March 26, 2020 Struggling retail landlord Intu has received less than a third of rent due for its second quarter as retailers struggle to pay the bills amid the UK coronavirus crisis. That forced it to abandon 2020 guidance as its incredibly low shares dropped three per cent to under 4p. The government has ordered almost all shops [...]
Shopper numbers surge as stores reopen but retail footfall lags behind pre-pandemic levels May 6, 2021 The number of shoppers visiting UK retail destinations surged last month as non-essential stores were able to reopen for the first time in months. However, despite the spike caused by the lifting of lockdown restrictions, retail footfall in April remained 32.7 per cent lower than pre-pandemic levels in 2019. It was an improvement from the [...]
Growing inequality and financial strain is a threat to London’s social cohesion August 11, 2022 OUR great city works well because we Londoners muddle through together without too much friction. “Live and let live”’ has a claim to be the defining London motto. But there have been times where that harmony has shattered. I remember the shock of Tottenham and Croydon burning in August 2011 and of shops being boarded [...]
Burberry reinstates dividend at pre-pandemic levels as sales bounce back following lockdowns May 13, 2021 Burberry shareholders will receive a payout equal to pre-pandemic levels after the luxury retailer reinstated its dividend, following strong recovery in its core markets. The designer brand said this morning that it will reinstate its full-year dividend at 2019 levels of 42.5p “on the back of strong cash generation”. In the year ended 27 March [...]
Revolution Beauty to make stock market debut July 13, 2021 Revolution Beauty are plotting a float on London’s alternative markets valuing the company at nearly half a billion pounds. The float has received strong support from shareholders and was significantly oversubscribed, the UK-based firm said this morning. Read more: Asos enters deal with Nordstrom to bolster Topshop’s US presence Adam Minto, the beauty firm’s boss [...]
Daily Mail gets green light for £50m takeover of the i newspaper March 25, 2020 The owner of the Daily Mail has been given the green light for its £50m takeover of the i newspaper. Daily Mail and General Trust, which also owns Metro, agreed the deal in November last year with the i’s current owner JPI Media. The government said it was “minded” to intervene in the merger due [...]
Pernod Ricard to acquire The Whisky Exchange September 21, 2021 Global drinks giant Pernod Ricard will acquire the online spirits retailer The Whisky Exchange. The drinks producer signed an agreement to acquire The Whisky Exchange – which also operates a trio of central London stores – for an undisclosed sum, it announced on Tuesday. The brands will collaborate on private sales and online auctions of [...]