The number of visitors to Britain’s high streets over the past six weeks is ‘significantly’ down on last year, raising fears of a disaster for some of Britain’s struggling shops. Figures provided to The Mail on Sunday by data firm Springboard, show that the number of visitors to retail parks, shopping centres and high streets fell by 3.5% in the six weeks from November 1 to the end of last week. (The Mail on Sunday)

“City breathes sigh of relief as retailers seek business rates reform”, writes The Telegraph. “Business can look forward to greater certainty under a majority Conservative administration… It should come as no surprise that business rates are the biggest issue for retailers as they battle a crisis on the high street.” (The Telegrpah)

Analysts said that a wave of money into Britain could be unleashed by the Conservative victory in general election, which was seen as breaking the deadlock in parliament, improving business and consumer confidence and laying to rest fears of a high-taxing, nationalising Labour Party gaining power. (The Times £)

Boris Johnson’s landslide win puts fizz into the City, writes The Times. After the defeat of Jeremy Corbyn, can business face the future with more confidence – however, a government with a strong mandate and a parliamentary majority does little to address the deep, structural problems in the UK economy. (The Times £)

Iceland facing potential refinancing and a far from chilled future, writes The Telegraph. A combination of falling like-for-like sales and heavy debts have been worrying some observers of Iceland’s fortunes. (The Telegraph)

Asda is planning to switch its finance director as it lays the ground for a float. (The Times £)

Marks & Spencer has raided rival Sainsbury’s to fill a key role at its food division as it prepares to further ramp up its ambitions. M&S grocery boss Stuart Machin has poached Sainsbury’s logistics director Chris Marrow, who has worked at the supermarket chain for almost 14 years. (The Daily Mail)

Just Eat to be sold at auction if neither of the two rival bidders can secure the backing they need. The default five-day process would start on December 30 and be refereed by the City’s Takeover Panel, with each bidder given an opportunity to participate in a series of bidding rounds. (The Daily Mail)

Bankers and other advisers are poised to make as much as £156m from the £5bn bidding battle that has broken out over takeaway company Just Eat. (The Daily Mail)

Boots will sell Mothercare products in the UK under a franchise agreement from next year, in a deal that will keep the brand alive in its home market following the closure of its own stores (The Financial Times £). The Mothercare brand will remain on UK high streets despite the collapse into administration of its UK retail business last month after a deal was struck to sell its products in Boots (The Guardian).

Caffe Nero is running drop-in clinics to help staff fill in right-to-remain forms amid the “ongoing challenge” of being able to hire and retain overseas staff as Brexit nears. (The Telegraph)

Soft drinks maker Britvic has slashed retirement benefits for its new finance chief as investors challenge listed companies over lavish pension rewards. (The Telegraph)

Ocado founder Tim Steiner was among dozens of businessmen who bankrolled the Tory party’s successful General Election campaign. (The Daily Mail)

Small investors who sank millions of pounds into a “burrito bond” scheme were this week told they could face losing 90% of their money – or 99% if the company goes into administration. (The Guardian)

Trucking group Eddie Stobart is a cautionary tale of company that grew too fast, writes The FT. “With a rescue offer that loads more costly debt to the struggling business, and accounts still locked after almost six months, the trucking group remains on rocky ground.” (The Financial Times £)

The Financial Times (£) looks at the African farmers taking on big chocolate. It writes that Ghana and Ivory Coast want a fairer share of profits from global confectionery industry. (The Financial Times £)

 

 

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