News
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Jun- 2020 -11 June
Majority of SMEs believe UK is headed for deep recession post-pandemic
Almost seven in 10 (69%) small business owners believe the UK is heading for a deep recession following the coronavirus pandemic and resulting lockdown, according to new research from FreeAgent. In addition, almost three quarters (73%) believe many small businesses will struggle to make enough money to survive and two…
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10 June
70% of shoppers ‘not comfortable’ returning to shops
Consumers remain “deeply cautious” about returning to shops, the latest EY Future Consumer Index has revealed ahead of retailers opening next week (15 June). According to the survey of 1,017 consumers, 80% said they would be “uncomfortable” trying on clothes in a store, while only 25% are “currently comfortable” visiting…
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10 June
Laings introduces appointment-only system in Southampton
Laings has announced it will announce that it will reopen its Southampton store on 16 June, following the latest government guidelines for retailers. The site will now operate on an appointment-only basis in order to ensure the health and safety of its staff and customers. Laings stores in Glasgow, Edinburgh…
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10 June
UK GDP expected to decline 7.2% in 2020 amid ongoing pandemic
The continuing impact of the Covid-19 virus is expected to see the UK economy contract by 7.2% in 2020, with the economy unlikely to be able to fully restart until a vaccine or effective treatments for the virus are available. This is according to KPMG UK’s latest quarterly Economic Outlook, which considered…
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10 June
Signet to close 80 UK stores permanently
Signet Jewelers has announced that it will not reopen 80 of its UK stores, in an effort to emerge “stronger and more efficient” following the Covid-19 crisis. As part of its decision to accelerate its ‘Path to Brilliance’ programme Signet, which has 3,200 stores worldwide, has revealed initially 150 of…
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9 June
British Craft Trade Fair to launch online show
The British Craft Trade Fair (BCTF) has announced that it will run a new online, interactive exhibition for designer-makers who were already signed up for its 2020 event. The online show will be open to registered and approved buyers from 14 June through the BCTF website, with this year’s award-winners…
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9 June
Consumer spending drops 26.7% year-on-year in May
Consumer spending contracted 26.7% year-on-year in May. This is according to new data from Barclaycard, which revealed that spending on essential items grew slightly by 0.9%. This was bolstered by a 24.5% rise in supermarket spend – which increased to 27% in the week preceding the VE Day weekend as…
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9 June
Bira opposed to proposed relaxation of Sunday trading laws
The British Independent Retailers Association (Bira) has expressed concern for proposed relaxation of Sunday trading laws. Under plans being suggested by the government, England could suspend Sunday trading laws for a year in a bid to boost the economy. However, Bira, who has added its support to the ‘Keep Sunday…
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9 June
Reed Exhibitions cancels IJL 2020
The organiser for International Jewellery London (IJL), Reed Exhibitions, has announced that the September event has been cancelled. The trade show was initially scheduled to take place at Alexandra Palace, London, between 13 September and 15 September 2020, but will no longer go ahead due to the ongoing Covid-19 pandemic.…
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8 June
BlueRock Diamonds completes $700k diamond sale
BlueRock Diamonds, a diamond producer that owns and operates the Kareevlei diamond mine in South Africa, has announced the private sale of 2,400 carats. The carats were sold at an average price of $290 (£229) per carat for a total of $700,000 (£552,000). According to the producer, the sale did…
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