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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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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Dec- 2019 -16 DecemberHealth & Beauty
The Hut Group completes €1bn capital raising
The Hut Group has announced a €1bn (£830m) raise in capital in order to deliver a “step- change” to its balance sheet ahead of “anticipated macro-economic” and “political changes arising from the general election and Brexit”. The health and beauty platform has revealed BlackRock, a long term investor in The…
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Nov- 2019 -22 NovemberEconomy
The Hut Group secures £510m debt facility to boost beauty investment
The Hut Group has secured a £510m of debt issuance with a seven-year maturity to help boost its digital and beauty offerings. The process has been underwritten by Barclays, HSBC, Citi and Santander. The transaction is set to be a “step change” within the beauty and wellness capital structure. The…
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Apr- 2019 -26 AprilDepartment Stores
Debenhams to close 22 stores with 1,200 jobs at risk
Department store chain, Debenhams has announced it is to close 22 stores putting 1,200 jobs at risk. The closures come as part of a revival plan for the department store laid out by lenders including Barclays and Bank of Ireland. Terry Duddy, Debenhams executive chairman, said: “Debenhams has a clear…
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