Pandemic
This coverage examines the impact of pandemics on the UK retail industry, focusing on operational disruption, financial challenges, consumer behaviour shifts, and recovery strategies. Reporting highlights store closures, safety measures, supply chain pressures, leadership decisions, and lessons learned to enhance resilience. Tailored for executives and managers, it provides insights to navigate crisis situations and strengthen preparedness.
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Apr- 2020 -27 AprilCoronavirus
Co-op expects £200m increase in costs amid Covid-19 crisis
The Co-op has warned that the Covid-19 pandemic is expected to increase its costs by over £200m. The grocery retailer also revealed it expects the increase which will be partly offset by increased food sales and the expected business rates relief announced by the chancellor. CEO Steve Murrells said no…
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24 AprilBusiness Bites
Retail landlords reined in, France gets touch on tax havens, and insurers face biggest ever payouts
The government has banned landlords from using winding-up orders against their retail tenants, after aggressive rent collection tactics which threaten the future of retail businesses came to light. Tens of thousands of businesses in both retail and hospitality have found themselves unable to keep up with their rent during the…
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24 AprilCoronavirus Featured Content
Oasis and Warehouse fall: Will the coronavirus pandemic force my business into insolvency?
With the involuntary closure of many businesses forced by the UK-wide lockdown, previously successful companies are beginning to feel the strain and becoming more concerned about their future viability. Many retailers simply do not have the income or cash reserves to pay their creditors at this time. This is not…
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24 AprilElectrical
Gear 4 Music reports 9% increase in FY sales despite Covid-19 impact
Musical instruments retailer, Gear 4 Music has reported a 9% increase in sales to £120.3m amid the Covid-19 pandemic. In its full year figures ended 31 March 2020, the retailer reported a 5% increase in UK sales to £61.8m compared with £58.9m in 2019. Sales in Europe and the rest…
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24 AprilCoronavirus
Government introduces new measures to protect high street
The business secretary has announced a new set of measures that will be introduced to protect high street businesses “under strain” from the ongoing pandemic. High street shops, and other companies facing financial difficulties, will now be protected from “aggressive” rent collection and asked to pay what they can as…
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23 AprilBusiness Bites
Scarves for face-masks will be part of the government’s post-pandemic advice
The government will advise the use of homemade facemasks once the pandemic measures are sufficiently relaxed for people to go back to work. As it tries to make sure that surgical-grade personal protective equipment (PPE) does not face supply issues for NHS workers, the government said scarves or ‘homemade cloth…
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23 AprilHigh Street
Animal set to shutter entire UK estate by 2021
Fashion brand Animal is reportedly set to shutter its entire UK estate by 2021, placing almost 500 jobs at risk. According to a report by the BBC, the brand’s owner H Young Holdings said the closure could come as early as January of next year, and added that the move…
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23 AprilCoronavirus
One in six shopworkers abused daily during pandemic, says Usdaw
Shopworkers’ trade union Usdaw has released statistics revealing one in six shop workers have suffered abuse on every shift, during the coronavirus pandemic. The statistics revealed 62% of the 4,928 shopworkers surveyed have experienced verbal abuse, with almost a third being threatened by a customer. Usdaw also revealed 4% of…
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23 AprilCoronavirus
DFS raises £64m from shareholders and directors
DFS revealed it has successfully raised £64m through a share placing in a move that will “significantly increase its financial resilience” amid the ongoing pandemic. In addition, the furniture retailer also received credit approval for a new 12-month bank facility of £70m from its existing lending banks. This new bank…
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22 AprilBusiness Bites
Will there be coronavirus help for small company directors who are paid by dividend?
The financial plight of limited company directors has been raised by the Tory chairman of the Treasury select committee. Mel Stride, a former Treasury minister, said chancellor Rishi Sunak needs to view company directors as a tranche of people who have ‘slipped through the net’ of all the other largesse…
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