Government
This coverage examines government actions, policies, and regulations affecting the UK retail industry. Reporting highlights legislation, consultations, economic measures, and public statements with direct implications for retail operations, employment, taxation, and consumer behaviour. Tailored for executives and managers, it offers analysis to support strategic planning and compliance in a changing regulatory and economic environment.
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Mar- 2021 -30 MarchM&A
SKG targets £20m retail acquisition spree
SKG Capital, the owner of bedding and linen retailer Julian Charles, has announced that it is looking to invest £20m in retail and consumer firms across the next 12 months. The acquisitions will target retailers that the pandemic has adversely impacted, with the intentions to turn the businesses around in…
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29 MarchElectrical
Jessops files for administration
Camera retailer Jessops has filed a notice to appoint administrators following continued impacts of the ongoing lockdown restrictions. The firm’s owner, PJ Investment Group, has hired the restructuring advisor FRP to handle the process, and has also revealed that it is considering a company voluntary arrangement (CVA) in a bid…
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16 MarchTechnology
Rezolve closes on £540m fundraising
Rezolve, a mobile shopping platform startup, is reportedly closing in on a funding round that would value the group at $750m (£540m). According to Sky News, Dan Wagner, the company’s founder, is on the brink of finalising a $20m (£14.4m) cash injection for the group. City sources told the publication…
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12 MarchHigh Street
Government announces eviction ban extension
The ministry of housing, communities, and local government has announced an extension to the ban of commercial evictions until 30 June. Introduced by Robert Jenrick, housing secretary, the measure is intended to ensure businesses are supported upon reopening. Alongside the commercial support package is a six-month notice period and bailiff…
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9 MarchOnline & Digital
Online retail sales up 70% in February
Online retail sales reportedly increased 69.5% year-on-year in February 2020, as Boris Johnson’s ‘roadmap’ out of lockdown supported consumer confidence. While the figure is slightly lower than January’s 74% growth, it is above the three, six, and 12-month rolling averages of 57.1%, 42.5%, and 42.7% year-on-year respectively. According to the…
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9 MarchNews
Consumer spending falls 13.8% in February
Consumer spending fell 13.8% year-on-year in February as lockdown restrictions continued, yet some sectors were able to bounce back, according to data from Barclaycard. The data revealed that spending on essential items grew 5.3% which was boosted by food and drink specialist stores – including butchers, greengrocers, fresh food box…
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8 MarchPeople Moves
BCC appoints new director general
The Board of the British Chambers of Commerce (BCC) has announced the appointment of Shevaun Haviland as its new director general. She will succeed Dr Adam Marshall who will step down on Wednesday 31 March after five years at the helm and 12 years with the organisation. Haviland joined the…
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8 MarchHigh Street
February footfall falls by 73.5%
UK retail footfall for February reportedly fell 73.5% year-on-year, the second largest decline seen since May 2020. According to the British Retail Consortium, the drop represented a 3.4% improvement from January’s levels. The data stems from the latest ShopperTrak analysis, which has joined Sensormatic Solutions in turn changing the footfall…
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3 MarchEconomy
Shop prices continue to fall in February
Shop prices continued to fall in February, down 2.4%, marking the lowest deflation rate since May 2020. According to the latest figures from the BRC-Nielsen Shop price Index, the decline was below the 2.2% experienced in January and is also below the 12- and six-month average price decreases of 1.7%…
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Feb- 2021 -25 FebruaryDIY
Ikea UK hit with £33m loss amid pandemic
Ikea UK has announced that total sales fell by £200m to £1.9bn in its full-year ended 31 August 2020, down from sales of £2.12bn reported in FY19. While the furniture giant decreased its costs by 3.4% to help shore up its finances, it still reported an overall loss impact of…
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