Coronavirus
-
Oct- 2020 -21 October
UK inflation rises to 0.5% after EOTHO ends
UK inflation for the month of September increased to 0.5% after the end of the Government’s Eat Out to Help Out scheme pushed up prices, according to the latest figures from the ONS. The figure is up from 0.2% in August where prices were driven down by the discount scheme.…
Read More » -
21 October
Retailers pay £1.1bn to accept customer payments
The cost to retailers of accepting payments reached £1.1bn in 2019, of which £950m was from card payments. It comes as the BRC launched its latest Payment Survey, that reveals card use has continued to rise steadily, from 54% of transactions in 2016 to 61% in 2019. This trend has…
Read More » -
20 October
Manchester moved into Tier three
Prime minister Boris Johnson has announced that Manchester will be placed into Tier 3 Covid-19 restrictions, after talks between mayor Andy Burnham and the UK government collapsed. As a result of being placed under Tier 3, pubs and restaurants must close unless they are supplying substantial meals and outside household…
Read More » -
20 October
Footfall continues decline following tiered restrictions
Footfall fell by 3.1% across all retail destinations last week from the week before, following tiered restrictions being introduced across the UK. According to the latest figures from Springboard, footfall saw largely similar rates of decline in all three destination types, with footfall down by 2.8% in high streets, 3%…
Read More » -
19 October
Wales announces ‘firebreak’ lockdown
The Welsh government has announced a two-week “firebreak” national lockdown, which will force business closures across the country from 23 October at 6pm until Monday 9 November. According to BBC News, first minister Mark Drakeford said the “time-limited firebreak” will be “a short, sharp, shock to turn back the clock,…
Read More » -
15 October
London to move to Tier 2
London and Essex will face tougher Tier 2 Covid-19 restrictions from Saturday (17 October), including a ban on the mixing of households indoors, local MPs have been told. According to the BBC, health secretary Matt Hancock is set to update MPs on the latest measures in the Commons later today.…
Read More » -
13 October
French Connection revenue down by 53% during first 6 months
Revenue at fashion retailer French Connection fell by 53% in the first half of 2020, according to the latest update. The brand released an interim report which attributed the steep decline to Covid-19 and its widespread effects on the retail market. The report showed an annual underlying loss of £12.2m…
Read More » -
12 October
PM unveils three-tiered lockdown system
Prime minister Boris Johnson this afternoon announced a new three-tier lockdown system that will see some hospitality businesses in the North-West forced to close from Wednesday. Under the new system, different rules for regions will be classified as being on ‘medium’, ‘high’ or ‘very high’ alert depending on the rate…
Read More » -
9 October
Gov to cover 67% of wages for firms forced to shut
Chancellor Rishi Sunak has announced that businesses forced to shut due to local restrictions will be eligible for a grant that pays two-thirds of staff salaries. The government will pay two-thirds, or 67%, of each employee’s salary, up to a maximum of £2,100 a month, if the business is forced…
Read More » -
8 October
New Covid-19 restrictions hit city-centre hospitality hardest
The impact of schools starting and government Covid-19 restrictions hit city centre hospitality and retail the hardest, a study has found. According to Springboard, a retail and hospitality research company, footfall rebounded in September having dropped by 28.2% in August. The recent slump in footfall is a consequence of the…
Read More »
