Author: Scott Dylan

Lakeland’s financial challenges have intensified, evidenced by widening losses.Pre-tax losses surged from over £1.1 million to nearly £2 million.Sales saw a minor decline, dropping from £154 million to just under £153 million.The company launched a ‘spend smart’ campaign to mitigate inflation-related demand drops.Lakeland remains committed to staff investments despite economic hurdles.In its most recent fiscal year, Lakeland has reported a marked increase in pre-tax losses, which have escalated from more than £1.1 million to almost £2 million by the end of December. This increase in losses highlights the significant financial pressures currently affecting the retailer amid what it describes as…

The UK’s Competition and Markets Authority (CMA) is reviewing a substantial £129m grant intended for BioNTech by the Department for Science, Innovation and Technology (DSIT).The CMA’s Subsidy Advice Unit is tasked with evaluating whether the grant complies with subsidy control requirements within 30 working days.DSIT believes the subsidy is crucial for securing BioNTech’s £1 billion inward investment, aimed at expanding its UK R&D and AI activities.BioNTech plans to establish centres for structural biology, regenerative medicine, and AI-driven drug discovery in the UK.The subsidy aligns with government goals to boost R&D, enhance health resilience, and drive economic growth.The UK’s Competition and…

The Bath House complex in Birmingham sees completion of its first phase, marking a milestone in the area’s regeneration efforts.Located on Bromsgrove Street, the development offers 279 rental apartments across four buildings, with a range of modern amenities.The project is spearheaded by Edmond de Rothschild Real Estate Investment Management and aims to revitalise the historic site of the former Kent Street Baths.Further 127 units are slated for completion by year’s end, finalising the comprehensive regeneration project.The development aligns with local affordability and demand, showcasing high-quality residential solutions.The completion of the first phase of the Bath House apartment complex represents a…

Frasers Group is significantly investing in brick-and-mortar retail with over 1 million square feet in new shopping centres.Properties in Exeter, Maidstone, and Gloucester record almost 17 million annual visitors, enhancing their retail portfolio.Princesshay Shopping Centre in Exeter, a key acquisition, adds 600,000 square feet purchased from Nuveen and the Crown Estate.Despite past declines, there’s a recent uptick in retail footfall, indicating a potential recovery in physical retail presence.CEO Michael Murray underscores this as a core strategy, affirming commitment to revitalising high streets nationwide.Frasers Group, under the leadership of Mike Ashley, is doubling down on its commitment to physical retail. The…

Morrisons has started a recruitment campaign to hire 3,000 workers for the festive season.The roles span across stores, food manufacturing, and logistics operations nationwide.Positions include customer assistants, drivers, and warehouse operatives, with flexible schedules.Benefits include a 15% staff discount and a 10% discount for family or friends.Morrisons’ initiative coincides with similar efforts by other major retailers.Morrisons, one of the UK’s leading supermarket chains, has embarked on an ambitious recruitment drive, aiming to bring on board up to 3,000 additional staff to manage the increased demand anticipated during the Christmas period. These positions will be distributed across their national network of…

Shaftesbury Capital has introduced a new Christmas light display on Carnaby Street, promising a novel experience.The ‘Into the Light’ display will be inaugurated on 7 November, featuring significant star designs at the street’s entrances.Suspended 60-metre sculptural light forms will enhance the visual appeal, featuring over 60,000 programmable LEDs.The display is powered by renewable energy sources, aligning with sustainable practices.The flexible scheme is designed to be a long-term feature, adaptable for future enhancements.Shaftesbury Capital, the developer behind the latest initiative, has announced a ‘groundbreaking’ Christmas light scheme for London’s Carnaby Street. The initiative, known as ‘Into the Light’, will officially launch…

THG, renowned in the beauty industry, appoints Amy Fisher as CEO of Beauty Brands.Fisher’s experience includes leadership roles at Lola and Wander Beauty.THG is expanding its retail footprint with Lookfantastic’s first physical store.Lookfantastic’s new store houses exclusive brands, enhancing customer engagement.Fisher is excited to lead and innovate within THG’s beauty sector.THG, a key player in the beauty sector, has announced the appointment of Amy Fisher as the new CEO of its Beauty Brands division. The decision reflects THG’s strategic direction and commitment to enhancing its market position. In Fisher’s words shared via LinkedIn, she expressed her enthusiasm by stating, “I’m…

Morrisons is enhancing its workforce ahead of the busy festive period with a significant recruitment drive.The supermarket plans to add up to 3,000 temporary and permanent positions across the UK.Roles include customer assistants, home delivery drivers, and manufacturing operatives, offering flexible working schedules.New employees will benefit from a 15% staff discount card, making positions more attractive.The recruitment move follows similar efforts by Sainsbury’s, launching a competitive seasonal hiring race.Morrisons, a prominent supermarket chain, is initiating a major recruitment effort to accommodate the anticipated increase in shopping activities during the festive season. This drive involves hiring up to 3,000 additional workers…

Frasers Group has further strengthened its UK real estate portfolio by acquiring three new properties.The acquisitions of Princesshay estate in Exeter, Fremlin Walk shopping centre in Maidstone, and Olympus Centre in Gloucester add significant retail space.Spanning one million square feet in total, these sites boast an impressive annual footfall of nearly 17 million visitors.Frasers Group continues its strategic investment in high-potential retail properties, echoing previous acquisitions of notable shopping centres.CEO Michael Murray emphasises the importance of these acquisitions in revitalising high streets and physical retail locations.Frasers Group has strategically expanded its property portfolio with the acquisition of three major retail…

Despite significant hype surrounding the Barbie movie, Mattel’s UK sales have not seen anticipated improvements.Mattel, based in Berkshire, reported a turnover of £145.5 million for the year, down from £162.4 million in 2022.Pre-tax profits experienced a slight increase, rising from £8.2 million to £10.4 million.The challenging economic climate and inventory volatility significantly impacted Mattel’s quarterly results.Mattel remains a leader in key toy categories, reinforced by brands like Polly Pocket and Hot Wheels.Despite the exceptional success of the Barbie movie in 2023, Mattel’s sales in the UK did not reflect the expected uptick. The company’s Berkshire-based division declared a turnover of…