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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Apr- 2020 -15 AprilCoronavirus
Covid-19 could cause UK economy to shrink by 35%, says OBR
The UK’s economy could shrink by as much as 35% in the second quarter of 2020 due to the Covid-19 pandemic, the Office for Budget Responsibility (OBR) has said. The watchdog is also predicting a 13% drop in annual GDP as a result of the outbreak, which it said would…
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9 AprilDepartment Stores
Debenhams enters administration
Embattled department store chain Debenhams has officially entered administration, and has appointed Geoff Rowley and Alastair Massey of FRP Advisory to handle the process. The group said it has entered administration to “protect Debenhams in the UK from the threat of legal action” that could have the effect of pushing…
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9 AprilCoronavirus
AAB calls on government to enhance support for businesses
Accountancy firm Anderson Anderson and Brown (AAB) has called on the UK Government to implement a series of “wide-reaching” measures aimed at helping businesses to survive the disruption caused by the Covid-19 pandemic. Lyn Calder, managing partner and also the firm’s head of deals for the Central Belt in Scotland,…
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7 AprilSupermarkets
Ocado unveils new measures as it apologises for inability to meet demand
Ocado has issued an apology to its customers for being unable to meet the current demand for its deliveries which it said is 10 times higher than usual. As a result it has also released a series of new measures including prioritising government shield list members and stopping orders from…
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1 AprilClothing & Shoes
Laura Ashley administrators axe 268 staff, 1669 furloughed
The joint administrators appointed to Laura Ashley revealed they have made 268 members of staff redundant and have furloughed a further 1669. Last week, Rob Lewis and Zelf Hussain of PwC were appointed as joint administrators of Laura Ashley Holdings plc and since then they have continued to trade the…
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Mar- 2020 -31 MarchHigh Street
Poundland to temporarily close 32 UK stores amid Covid-19 outbreak
Discount retailer Poundland has announced the temporary closure of 32 of its stores amid the Covid-19 virus outbreak, resulting in staff receiving 80% of their average earnings due to the government’s Jobs Retention Scheme. Shop workers’ trade union Usdaw said the retailer is asking employees to voluntarily agree to be…
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30 MarchEconomy
UK GDP expected to contract by 15% in Q2 2020
The UK economy is about to enter the deepest recession since the financial crisis, including the steepest quarter-on-quarter decline in economic activity since comparable records began, according to the Centre for Economics and Business Research (CEBR). CEBR expects the economy to have contracted marginally in the first quarter of the…
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30 MarchCoronavirus
Government relaxes insolvency rules
The government has announced a set of changes to help improve the insolvency system to enable companies undergoing restructuring to continue trading. The relaxed measures announced by business secretary Alok Sharma, will allow companies undergoing restructuring to continue to access supplies and raw materials. It has also temporarily suspended wrongful…
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27 MarchHigh Street
Mike Ashley apologises for ‘ill-judged’ Covid-19 response
Sports Direct CEO Mike Ashley has penned an open letter apologising for the Fraser Group’s response to the Covid-19 lockdown. It comes after reports that Ashley lobbied the government to keep Sports Direct open and was still asking employees to still come to work at the high street retailer. Newcastle…
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26 MarchClothing & Shoes
Schuh closes online operations
Schuh has announced that it has taken the steps to close its website as the coronavirus crisis continues to unfold. The shoe retailer said it had taken the step to shut down its online operations as it takes time to “understand the latest government guidelines”. The Scottish-based retailer said that…
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