Sir Philip Green’s family is to pay a promised £50m into their fashion empire’s pension scheme within the next 10 days – almost a year earlier than scheduled – as the business secretary, Alok Sharma, called on the insolvency watchdog to investigate the handling of the failed group.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Leon looks to CVA to help it through lean times
Leon has appointed advisers to launch a company voluntary arrangement as the self-styled natural fast-food chain seeks to cut its unsustainable rents.
Debenhams website inundated as shoppers try to grab bargains from collapsing chain
Shoppers have been waiting in virtual queues for over an hour as they rush to snap up deals on the Debenhams website after the chain confirmed its collapse.
Tesco to hand back £585m of pandemic business rates relief
Tesco, the UK’s largest supermarket chain, has announced it is to repay £585m of business rates relief it was awarded during the coronavirus pandemic.
Royal Mail announces rise of first-class stamp to 85p
Royal Mail is raising the price of a first-class stamp by an inflation-busting 9p to 85p.
Salesforce buys Slack in $27.7bn deal to go head-to-head with Microsoft
Business software pioneer Salesforce.com is buying work-chatting service Slack for $27.7bn in a deal aimed at giving the two companies a better shot at competing against longtime industry powerhouse Microsoft.
Caffè Nero landlords threaten revolt against CVA proposal
Caffè Nero could face a legal challenge despite winning backing from creditors to pursue a company voluntary arrangement.
Shoppers get set for ‘Wild Wednesday’ as Debenhams starts fire sale
A fire sale by Debenhams is expected to fuel a “Wild Wednesday” rush on the high street today as most retailers reopen for the first time in a month.
House prices climb amid stampede to buy
House price growth accelerated last month to the highest level in almost six years but market activity is at risk of slowing sharply.
Conservative rebellion unlikely to derail coronavirus tier vote as Labour set to abstain
Boris Johnson is heading for a COVID showdown with rebel Tory MPs, despite being assured of victory in a Commons vote after Sir Keir Starmer said Labour will abstain.
UK shops to be allowed trade around clock to recoup Covid losses
Shops will be given permission to trade around the clock as the high street tries to recoup some of the losses it has suffered during the pandemic, a UK cabinet minister has said.
Sir Philip Green’s Arcadia Group collapses into administration
Sir Philip Green’s Arcadia Group has collapsed into administration, putting 13,000 jobs at risk as the retail tycoon’s high street career ends in failure.
Mortgage approvals at their highest in 13 years
Mortgage approvals rose at their fastest rate in more than 13 years in October as the housing market powered on, fuelled by a cut to stamp duty, figures from the Bank of England show.
Pubs in Wales to close by 6pm under new Covid restrictions
Pubs, bars and restaurants in Wales will be banned from selling alcohol and forced to shut early, as the Welsh first minister said Covid was spreading “incredibly quickly” across the country and that the gains made during its “firebreak” lockdown were being eroded.
MPs call for the break up of UK’s big high street banks
A cross-party group of MPs is calling for the break-up of major high street banks, which they say are stifling competition and exploiting vulnerable customers.