Author: Sam Allcock

HMV has decided to pause its UK store expansion plans due to upcoming tax increases, citing financial risks.The company’s owner, Doug Putman, expressed concerns over the potential £5m loss in annual investment as a result of these changes.Putman, who revived HMV in 2019, noted that the risks associated with opening new stores have become too significant.The decision could have additional repercussions, including potential job cuts within the company.The retail sector faces challenges with increased national insurance contributions impacting staffing decisions.HMV has postponed its plans to open new stores across the UK, citing concerns over proposed tax hikes. The company’s owner,…

HMV has halted its UK store expansion plans due to higher national insurance costs, raising economic concerns.The music retailer aimed to open several stores annually but now plans none for 2025.Doug Putman optimistically rescued the chain in 2019, yet current fiscal policies deter further investment.The anticipated £5m savings could prevent significant job cuts, reflecting broader economic impacts.Putman anticipates fewer permanent roles post-holiday season, potentially leaving many temporary workers unemployed.HMV, a major player in the music retail industry, has put a hold on its planned store openings across the United Kingdom. The decision stems from the anticipated increase in national insurance…

A Scottish startup is turning sawdust into replacements for petrochemicals, addressing global dependency concerns.The initiative aims to lessen reliance on fossil fuels by using forestry waste in the cosmetics, packaging, and pharmaceutical industries.Research indicates that the pharma industry emits more carbon than automotive sector, highlighting urgency.New ultrasound technology is central to transforming wood waste into usable compounds, specifically lignin.This approach could significantly boost Scotland’s economy while promoting environmental sustainability.In an effort to replace petrochemical use, a group of Scottish researchers is developing a process to convert sawdust and woodchips into natural alternatives. This innovative method aims to address environmental challenges…

Unilever has unexpectedly halted its plans to sell its expansive ice cream division, opting instead for a potential spin-off.In a striking turn of events, Unilever has shifted its strategy regarding its ice cream business, valued at £15 billion. Initially planning on selling the division to streamline operations, Unilever is now considering an independent listing for the unit. Despite the cessation of sale plans, there remains a possibility that a suitable bidder could materialise, according to city sources referenced by the Financial Times.The decision follows Unilever’s earlier announcement in March, where it intended to separate the ice cream segment from its…

PGHL, a prominent agency in Leeds, has successfully expanded its client base, marking a significant growth milestone.Five new clients have been secured, including notable names from diverse sectors, reflecting PGHL’s growing industry influence.The agency’s portfolio now includes property consultancy, an independent homeware store, sports venues, and a London-based restaurant.These strategic client acquisitions underscore the agency’s strengths in creative solutions and experiential activities.PGHL is set to enhance the public presence of these new clients across the North of England with bespoke PR strategies.Pink Gorilla Hairy Lemon (PGHL), an influential Leeds-based agency, has recently secured five new clients, significantly broadening its client…

HSBC Innovation Banking welcomes Emily Turner as its new CEO, marking a new phase in its journey.Formerly at Citi, Turner brings over a decade of experience to HSBC Innovation Banking.Turner succeeds Erin Platts, who led the bank through challenging times, including a rescue deal.Simon Bumfrey will be interim CEO until Turner officially starts in February 2025.Turner is committed to advancing the bank’s innovation-focused, client-centric approach.HSBC Innovation Banking has appointed Emily Turner as its new Chief Executive Officer, signalling a fresh chapter in its development. Turner, who leaves her position at Citi, brings a wealth of experience from her 13-year tenure…

John Prescott, former Deputy Prime Minister, passes away at 86 surrounded by family and music.Prescott’s career spanned decades, marked by unique political contributions and controversial moments.The Labour stalwart’s legacy includes advocating for social justice and environmental protection.His family’s statement reflects a request for privacy during their time of grief.Prominent figures and the public honour Prescott’s impact on British politics.John Prescott, known for his fervent political engagement, has died at the age of 86. His family stated he passed away peacefully, surrounded by the love of his family and the jazz music of Marian Montgomery, reflecting the personal joys in his…

Superdry anticipates further revenue declines as it embarks on a restructuring journey.The company has exited the London Stock Exchange, aiming to stabilise its financial health.Annual pre-tax losses have shown some improvement yet remain significant.Sales figures have dropped sharply, with projections of further reductions into 2025.A notable reduction in workforce accompanies the financial challenges the brand faces.Superdry, the well-known fashion retailer, has communicated its expectation for continued revenue decline in its current financial year. This comes in the wake of its strategic decision to delist from the London Stock Exchange in July, part of an overarching restructuring initiative aimed at reviving…

Superdry, a known fashion retailer, is anticipating further revenue declines following its exit from the London Stock Exchange.The company’s pre-tax losses saw a slight improvement, decreasing from £78.5 million to £65.2 million.Sales have significantly dropped from £622.5 million to £488.6 million, with expected future sales to be between £350 million and £400 million.Superdry has reduced its workforce by over 12%, now employing 2,263 people.Founder Julian Dunkerton aims to revitalise the brand’s image as part of its restructuring efforts.Superdry, the well-known fashion brand, has alerted stakeholders to an ongoing decline in revenue, which it attributes in part to its strategic exit…

JD Sports reports a challenging third quarter amidst volatile trading conditions in October.Group revenues saw a minor dip of 0.3%, with UK sales experiencing a sharper decline of 2.4%.Despite a promising start with strong back-to-school sales, consumer demand decreased towards the period’s end.The company opened 79 new global stores, contributing to strategic long-term growth ambitions.CEO Régis Schultz emphasises maintained commercial discipline and a slight improvement in gross margin.JD Sports encountered a turbulent period in October, impacting its quarterly financial performance. The company informed stakeholders that its full-year profit is projected to align with the lower end of the £955 million…