All City & finance articles – Page 115
-
NewsCoronavirus: French Connection seeks urgent funding in battle for survival
French Connection is in urgent talks with potential funding partners as it battles to stay afloat amid the coronavirus crisis.
-
NewsIntu seeks debt standstill as it braces to breach covenants
Retail property titan Intu has warned that it is “likely” to breach its covenants next month and is negotiating with lenders to freeze its debts during the coronavirus pandemic.
-
NewsRetailers’ fortunes flag on Sunday Times Rich List
A number of retailers have fallen in the rankings in The Sunday Times Rich List 2020 as tough market conditions impact their personal fortunes.
-
NewsJC Penney declares bankruptcy amid coronavirus pandemic
The US department store chain JC Penney, which filed for bankruptcy on Friday, is reportedly the largest retail casualty of the pandemic-induced economic downturn so far.
-
OpinionOpinion: Next phase of Covid-19 crisis will present even tougher challenges
We are now into week 10 of lockdown and, after the government published its recovery strategy, it’s starting to feel like we’re perhaps coming to the end of the beginning of this crisis.
-
NewsBoohoo eyes further acquisitions as it completes £200m fundraise
Pureplay fashion retailer Boohoo has successfully raised close to £200m in less than 24 hours as it eyes already struggling high street brands stricken further by the coronavirus.
-
NewsTesco, Sainsbury’s and Morrisons execs scoop hefty bonuses
Executives at three of Britain’s biggest grocers have been awarded hefty bonus packages.
-
NewsWatches of Switzerland sales rise despite ‘significant’ coronavirus impact
Watches of Switzerland has posted an increase in full-year sales despite its top line being “significantly impacted” by the coronavirus crisis.
-
NewsWHSmith sales decimated by coronavirus as first-half profits dip
WHSmith’s sales have been obliterated by the coronavirus as lockdown restrictions decimated its travel division.
-
NewsFormer Asda boss Leighton in private equity buyout of TM Lewin
Menswear retailer TM Lewin has been acquired by a private equity team including former Asda chief executive Allan Leighton.
-
NewsChancellor extends furlough job retention scheme until end of October
Chancellor Rishi Sunak has extended the furlough job retention scheme until the end of October but said the government wants employers to contribute more.
-
NewsLandsec reveals hole in portfolio and warns of lengthy recovery
Institutional landlord Landsec has revealed a near £1.2bn hole in its property portfolio and warned that it does not expect the economy to recover to pre-coronavirus levels until 2022 at the earliest.
-
NewsMoss Bros U-turns to resume online trading
Moss Bros is reopening its ecommerce arm with a “reduced workforce” from tomorrow, following recent government guidance about returning to work.
-
NewsAO expects profits in line with predictions as coronavirus boosts online growth
AO said it expects sales and profits for the financial year to be in line with analyst expectations and said the coronavirus has created a ‘new normal’ in terms of online electricals’ share of the market.
-
NewsKingfisher sales hammered by coronavirus store closures
Kingfisher has seen sales during the first quarter of the year take a hammering from the coronavirus forced closure of its store estate.
-
NewsMorrisons first quarter sales up despite ‘highly volatile’ trading
Morrisons has reported sales growth in the first quarter despite “highly volatile” trading patterns and a worse-than-expected Easter due to the ongoing coronavirus lockdown.
-
OpinionRichard Lim: How to tackle the deepest recession in 300 years
The UK economy is clearly facing an extraordinary crisis. The coronavirus pandemic has sent shockwaves across communities, financial markets and has caused paralysis within many businesses.
-
NewsMatalan founder Hargreaves asks lenders for £50m cash injection
Matalan founder and owner John Hargreaves has reportedly tapped existing lenders for a £50m loan.
-
NewsJD Sports and Sports Direct square up for Office takeover
Retail rivals JD Sports’ Peter Cowgill and Sports Direct’s Mike Ashley are among the prospective bidders for footwear chain Office.
-
NewsSuperdry full-year sales slide as it explores financing options
Superdry has reported a slump in full-year sales exacerbated by the outbreak of coronavirus.