Mitchells & Butlers (LON: MAB) said today that it has cut 1,300 jobs this year after the group reported a £123m pre-tax loss for the year to 26 September. The pub and bar operator, which owns chains including Toby Carvery, All Bar One, and Harvester. The group said that store closures and lower levels of […]

The post Mitchells & Butlers swings to £123m loss appeared first on UK Investor Magazine.

More than 2,900 employees are now at risk of losing their jobs after it was announced on Friday that clothing retailer Edinburgh Woollen Mill and homeware suppliers Ponden Home have fallen into administration. Both brands are owned by EWM Group, which is still negotiating a potential rescue deal that could save its remaining brands – […]

The post Jobs on the line as Edinburgh Woollen Mill and Ponden Home collapse appeared first on UK Investor Magazine.

Whitbread (LON: WTB) has swung into a £660.5 loss for the six months to 27 August. The loss for the Premier Inn owner is compared to the £172.2m profit in the previous year. As hotels were closed during the lockdown, revenue plunged £76.9m to £250.8m in the UK and Germany. Over the UK lockdown, revenue […]

The post Whitbread profits plunge 483% amid hotel closures appeared first on UK Investor Magazine.

Pret a Manger has revealed plans to axe 400 jobs and close 6 London stores after a slump in sales. The sandwich chain has struggled since people have switched to homeworking and city centres have seen a reduction in footfall. Sales at Pret A Manger have fallen to their lowest in a decade due to […]

The post Pret A Manger announces plans to axe 400 jobs appeared first on UK Investor Magazine.

With the prime minister leaving most of the country in Tiers about the prospect of further lockdown restrictions, sectors of the economy, such as hospitality, will be asking what they can expect in the coming months, and whether the situation will be even worse than the first time around. Speaking on the impact another lockdown […]

The post Lockdown will see more distressed M&A deals in hospitality sector appeared first on UK Investor Magazine.

Loungers PLC shares (LON: LGRS) rose almost 8% on Friday’s opening bell after the group reported significant outperformance of the market. The owner of the Lounge and Cosy Club brands shared a trading update for the 24 weeks ending on 4 October 2020, revealing a 25% growth in like-for-like sales when cafes, bars, and restaurants […]

The post Loungers PLC shares rise thanks to “excellent trading” appeared first on UK Investor Magazine.

It appears the public opinion snowball has picked up enough momentum, and the optics look favourable enough for prime minister Boris Johnson to consider a second lockdown, even if it is implemented incrementally. And, while a tragedy for businesses and communities alike, I think the prime minister airs on the side of the prudent majority […]

The post Is a second lockdown the correct approach? appeared first on UK Investor Magazine.

Cineworld shares (LON: CINE) plummetted over 57% on Monday’s opening. The group announced that it would be temporarily closing all of its US and UK cinemas after delays to the new James Bond film. The cinema closures will begin this week and will risk 45,000 jobs across the US and UK. “As major US. markets, […]

The post Cineworld shares dive 57% on US & UK closures appeared first on UK Investor Magazine.

TSB – owned by Spanish firm Banco de Sabadell (BME:SAB) since 2015 – has seen its shares emerge unscathed on Wednesday afternoon despite the news that the bank plans to shut 164 branches and cut up to 1,000 jobs across the UK. Blaming the decline in customers visiting high street banks on the coronavirus pandemic, […]

The post TSB shares unfazed as 164 stores shut, 1,000 jobs cut appeared first on UK Investor Magazine.

Pizza Hut has become the latest restaurant chain in the UK to announce a spate of closures, as the firm prepares to file a company voluntary agreement (CVA) and initiate a major restructuring scheme. The pizza chain – owned by American fast food tycoon YUM! Brands, Inc (NYSE:YUM) – has struggled to pay off its […]

The post Pizza Hut announces plans to slash 29 sites, 450 jobs appeared first on UK Investor Magazine.

High street beauty and pharmacy staple Boots – owned by Walgreens Boots Alliance Inc (NASDAQ:WBA) – has announced plans to axe 4,000 jobs and 48 stores nationwide as it attempts to mitigate the “significant impact” of the coronavirus pandemic. The move is expected to affect around 7% of the company’s workforce, with staff at its […]

The post Boots announces plans to axe 4,000 jobs and 48 stores appeared first on UK Investor Magazine.

Coffee and sandwich chain Pret A Manger is set to close 30 of its 410 UK stores – jeopardising at least 1,000 jobs – as the company prepares to navigate the post-coronavirus high street. The company has warned that the impact of the pandemic has forced it to make a “difficult decision”. The eye of […]

The post Pret A Manger to close 30 stores due to “significant operating losses” appeared first on UK Investor Magazine.