Arcadia administrators are set to permanently shut another 31 of the fashion group’s stores by the end of January, with the loss of 714 more jobs. Sir Philip Green’s Arcadia retail empire collapsed into administration at the start of December. Arcadia, which once consisted of 444 UK retail chain stores including Topshop, Miss Selfridge, Dorothy … Read more
Rishi Sunak is facing a Tory backlash amid claims he wants to hike corporation tax in the March Budget. The Chancellor is desperately seeking ways to restore the public finances after they were hammered by coronavirus, with fears borrowing will top £400billion this year. Grim forecasts suggest the economy is on track for a double-dip … Read more
Rishi Sunak warns of ‘harder’ times to come with UK on track for double-dip recession despite signs of resilience with GDP only falling 2.6 per cent during second coronavirus lockdown in November GDP fell again in November as the four UK nations imposed fresh restrictions Brought an end to six consecutive months of recovery for … Read more
So much for DRY January! Alcohol sales soar during first month of 2021 as locked-down Britons reach for the bottle amid winter and Covid blues Waitrose beer sales up 49% and wine sales by 27% over first week of lockdown A separate YouGov survey found 28% of Dry January participants had given up Young middle-class women … Read more
Heading back to square one: January shopping levels are just one third of what they were last year, furlough numbers are INCREASING and 15 per cent of businesses fear they won’t survive the next three months New Office for National Statistics data paints a grim picture for UK businesses Retail footfall in week ending January … Read more
Morrisons announces it will become first British supermarket to pay staff £10 an hour in boost for 96,000 workers Retail trade union Usdaw negotiated a £10 an hour basic rate for workers It brings wages 50p an hour above the voluntary Living Wage Foundation rate Asda has confirmed it will not be offering its workers … Read more
Deliveroo will expand to 100 new towns and cities across UK for an additional four MILLION customers following surge in demand during pandemic Food delivery service Deliveroo will expand reach to 100 new cities and towns Currently operates in over 200 locations but will reach four million more people Additional customers will be able to access … Read more
Collapsed retail giant Edinburgh Woollen Mill has been saved in a deal that will protect 1,500 jobs and 250 stores. Philip Day’s Jaeger will be taken over by Marks & Spencer in a separate agreement as the deal between the retail tycoon and Middle Eastern investors is set to be finalised. Retailers Edinburgh Woollen Mill, … Read more
Record 250,000 small businesses could go bust in the next 12 months as firms struggle amid coronavirus crisis, warn industry bosses Federation of Small Businesses study finds 250,000 firms feel unable to carry on Number is the highest since FSB began collecting data following financial crisis Doesn’t include thousands more of small firms struggling but … Read more
The return of Tony Blair? Ex-Labour leader and three-term prime minister ‘advising Matt Hancock and other Tories on vaccines strategy’ because he believes he can improve ‘inadequate’ leadership Mr Blair is powerful figure in the fight to use vaccines to save lives and economy Sunday Times said he offered ‘strategic advice’ to Hancock several times … Read more