Barclays
This coverage examines Barclays’ activities and influence on the UK retail sector, with reporting on economic outlooks, lending practices, partnerships, and service initiatives that impact retailers. Tailored for retail executives, finance managers, and planners assessing banking relationships, credit availability, and broader financial trends affecting retail operations.
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Jan- 2021 -11 JanuaryClothing & Shoes
Buyer found for Edinburgh Woollen Mill
FRP Advisory, the administrator to clothing retailer Edinburgh Woollen Mill, has accepted a rescue offer that could save a number of jobs at the group. According to the Times, sale contracts have been issued to the potential buyer, who remains unnamed, although the deal is reportedly likely to save only…
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Oct- 2020 -23 OctoberEconomy
UK retail sales grow for fifth month in a row
Retail sales in the UK have risen for the fifth consecutive month, despite the introduction of the tiered lockdown system, according to the latest figures released by the ONS. Last month, overall growth in sales volume was up 5.5% compared with February’s pre-pandemic levels. In the three months to the…
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Aug- 2020 -27 AugustOnline & Digital
The Hut Group unveils £4.5bn IPO plan
Online retailer The Hut Group (THG) has confirmed its intention to launch a stock market flotation that values the company at around £4.5bn. The group plans to raise £920m through the sale which, according to Sky News, could lead to its founder Matthew Moulding receiving up to £700. It cites…
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Jun- 2020 -16 JuneClothing & Shoes
Joules predicts £3m loss after pandemic hit
Fashion retailer Joules has predicted an underlying loss for its 2020 financial year of between £2m and £3m attributed to the impact of the coronavirus pandemic. In a pre-closing update ended 31 May 2020, Joules said the impact of the Covid-19 virus between March and May resulted in a “material…
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Apr- 2020 -21 AprilClothing & Shoes
Joules adds £15m to existing debt facility
British lifestyle brand Joules has announced it has successfully agreed to add £15m to an existing credit facility with Barclays Bank, due to the coronavirus crisis. The retailer also said it has taken a “significant” number of mitigating actions to conserve cash throughout this period of significant “global macroeconomic uncertainty”.…
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3 AprilCoronavirus
Chancellor unveils new measures to SME loan scheme
Chancellor of the exchequer Rishi Sunak has unveiled a major overhaul to his previously announced SME loan scheme. Initially, the Coronavirus Business Interruption Loan Scheme (CBILS) was aimed at businesses unable to secure regular commercial financing as the virus took its toll on the UK’s economy. However, according to Sky…
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2 AprilCoronavirus
Chancellor set to announce overhaul to SME loan scheme
Chancellor Rishi Sunak is reportedly set to announce an overhaul to the SME loan scheme that will allow companies to access help quicker. According to Sky News, Sunak and members of the Treasury were reportedly in talks with major lenders, including Barclays, HSBC, Lloyds Banking Group and Royal Bank of…
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Mar- 2020 -26 MarchCoronavirus
Covid-19: Banks under fire over emergency loan scheme
Banks have come under fire over government-backed emergency loans which require business owners to sign for a personal guarantee, as the UK battles with the Covid-19 pandemic. The British Business Bank (BBB) opened applications for the Coronavirus Business Interruption Loan Scheme (CBILS) on Monday (23 March), and claimed the loan…
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Feb- 2020 -25 FebruaryNews
Barclay brothers’ children in Ritz hotel ‘bugging’ scandal
A legal feud between the Barclay brothers’ families has come to light after a court heard Sir Frederick had private conversations recorded by his twin brother’s son in the Ritz hotel in London. Frederick, 85, and his daughter Amanda claimed Sir David’s three sons were “parties” to the secret recording…
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21 FebruaryBusiness Bites
Barclays as Big Brother, storms batter insurance companies, Redcar steels itself for renewal
The TUC says Barclays’ surveillance of its employees is ‘dystopian’ after it was revealed the bank uses software to monitor how long employees spend at their desks and issues warnings if they are away for too long. Bosses have been running a test of the system in the London office…
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