Author: Sam Allcock

Almost £8m is owed to Carpetright customers after the company’s collapse, with many unlikely to see refunds.The total debt owed by the flooring chain to unsecured creditors is revealed to be £373m.A significant backlash arose due to the transfer of intellectual property rights for £12m.Tapi Carpets acquired the Carpetright brand, yet many debts remain unpaid.Landlords and trade creditors are among those significantly affected.Almost 21,000 shoppers are owed nearly £8 million as a result of Carpetright’s financial collapse, leaving most without refunds. Company directors disclosed that the amount owed could be even higher than initially reported, reflecting the broader impact of…

The on-demand economy has seen significant growth, with drivers increasingly satisfied with their work-life balance.Since 2020, consumer buying habits have shifted towards at-home services, leading to a projected $335 billion market by 2025.A large proportion of drivers are working longer hours, with 74% satisfied with their work-life balance.Flexible work hours and job satisfaction are key reasons drivers choose this career path.Insurance and financial burdens remain significant issues for drivers in the on-demand sector.Since the onset of the pandemic, there has been a marked change in consumer behaviour, favouring at-home purchasing options. This trend has spurred the global on-demand economy forward,…

New research indicates a decline in gender diversity on corporate boards following economic crises.The study was conducted by emlyon business school and Surrey Business School, focusing on the financial crises of 2008-2010.A significant reduction in female representation on boards was found post-crisis, affecting positions across all levels.Neither female leadership nor gender-specific policies, such as quotas, mitigated the observed decline.The findings underscore a shift in corporate priorities away from diversity during challenging economic periods.In groundbreaking research conducted by emlyon business school and Surrey Business School, a significant decline in gender diversity on corporate boards was observed following major economic crises, particularly…

THG is strategically demerging its technology division, Ingenuity, to bolster shareholder value.The company is considering various structures for the demerger without a set timeline.Post-demerger, THG will focus on its beauty and nutrition sectors.A slight increase in profits was reported, despite a dip in overall sales.THG anticipates growth in sales momentum in the upcoming quarter.THG has announced its decision to demerge Ingenuity, its technology platform, marking a significant step towards enhancing shareholder value. The company is currently evaluating different approaches to implement this separation, although a definitive timeline is yet to be established. This move will allow THG to concentrate efforts…

Ultiverse is reshaping digital engagement by blending AI and blockchain technologies, offering a gaming ecosystem reminiscent of popular cinematic experiences.This innovative platform establishes a seamless interface between digital and real-world values, inviting users to explore an unprecedented interactive digital society.Ultiverse emerged as a groundbreaking AI-driven metaverse, aimed at redefining digital interactions. It employs robust AI protocols, incorporating large language models to enhance product design and expedite the development of a self-sustaining blockchain gaming environment. With over 1.5 million community members, Ultiverse stands as a prominent player in the Web3 realm, driven by innovation and community involvement.The Ultiverse Mission Runner is…

Kingfisher, the parent company of B&Q, reported increased profits despite a decline in ‘big ticket’ item sales.B&Q’s large item sales fell by 11.6%, though overall group sales were down by just 1.8%.Pre-tax profits saw a modest rise of 2.3% to £324 million in the first half of the year.Ecommerce and TradePoint sectors helped bolster the company’s performance with significant growth.Kingfisher’s CEO highlighted strategic resilience and market share gains amid tough market conditions.The parent company of B&Q, Kingfisher, has successfully increased its profits despite experiencing a decline in sales for large items, often referred to as ‘big ticket’ sales. The company…

MicroStrategy has unveiled a notable strategy to expand its substantial Bitcoin assets. The company aims to secure $700 million through a convertible senior notes offering, demonstrating a robust commitment to cryptocurrency investments.As the business intelligence firm continues to establish itself as a pioneering force in the Bitcoin market, this latest move underscores an unwavering belief in the digital currency as a potential store of value. This financing step follows previous substantial investments in Bitcoin, further reinforcing its position as a leading corporate holder of BTC.In-Depth Overview of the Notes OfferingIn a strategic move to bolster its Bitcoin reserves, MicroStrategy has…

London’s Oxford Street, renowned for its retail attractions, is poised for a significant makeover, with plans to prohibit vehicle traffic.The pedestrianisation initiative aims to revitalise Oxford Street, addressing concerns from local councils and bringing back its retail prominence.Approval from Deputy Prime Minister Angela Rayner is anticipated, granting more control to Mayor Sadiq Khan under a strategic development area.Local businesses and residents initially expressed concerns over transport changes, especially regarding bus routes.The pandemic’s impact is evident as the street grapples with vacant shops, hoping pedestrianisation will boost foot traffic and economic activity.London’s internationally acclaimed Oxford Street is on the brink of…

A recent report highlights the escalating issue of mental health-related absenteeism among retail workers, particularly impacting the younger generation.A survey involving over 1,300 retail employees reveals concerning statistics about absenteeism due to mental health struggles, with a significant impact on younger staff.The Retail Trust’s new findings underscore the urgent need for improved mental health support within the retail sector, as absenteeism and underperformance rise.Employers in the retail industry are urged to invest in mental health initiatives as a third of younger staff and call centre workers miss work due to psychological distress.The report reveals that retail managers have observed a…

Black Friday 2024 demands a strategic approach to stand out amid fierce competition.Retailers need to prepare effectively for Black Friday to capture consumer attention and share.The comprehensive calendar includes over 75 tasks to ensure a successful Black Friday run.Suggestions are tailored by audience, channel, and daily engagement for a targeted campaign.Loyalty strategies are emphasized to sustain customer growth beyond Black Friday.Black Friday 2024 is not merely about participating in the shopping frenzy but excelling beyond expectations. The highly competitive nature of this event requires retailers to meticulously plan and execute strategies that will capture consumer attention and loyalty. With stakes…