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Sky News
Tesco eyes surprise bid to wrap up deal for Paperchase brand
Tesco is poised to snap up the Paperchase brand in a surprise swoop that will cast a shadow over hundreds of high street jobs.Sky News has learnt that Britain’s biggest supermarket chain is in advanced talks about buying Paperchase’s name and other intellectual property through a pre-pack administration that could take place as early as …
Business
Sky News
More than 2,100 roles at risk at Tesco in shake-up
Tesco has announced a plan to shake-up management and close hot counters and delis which will impact approximately 2,100 jobs. The plan will introduce around 1,800 new shift leader roles in stores, leading on the day-to-day operational duties on the shop floor, the UK’s largest supermarket chain said. The counters and hot delis will close …
Business
Sky News
More than 2,100 roles at risk as Tesco launches shake-up
Tesco has announced a plan to shake-up management and close hot counters and delis which will impact approximately 2,100 jobs. The plan will introduce around 1,800 new shift leader roles in stores, leading on the day-to-day operational duties on the shop floor, the UK’s largest supermarket chain said. The counters and hot delis will close …
Business
Evening Standard
Battle of the bankrupts as FTX sues Voyager for $446 million
Further signs of the fallout from last summer’s crypto crash emerged today as one bankrupt crypto business, FTX, has sued another bankrupt crypto business, Voyager Digital for $446 million (£361 million) as the pair battle for the scraps of their collapsed digital empires.Voyager, which filed for bankruptcy in July, had demanded repayment of loans to …
Business
Evening Standard
Wickes boosted by home insulation sales amid energy costs crisis
DIY chain and builders’ merchants Wickes has seen a boost to trade as households rush to buy energy-saving products to help cut soaring power bills over the winter months.The group said falling DIY sales stabilised towards the end of last year, helped by strong sales of products such as loft insulation and draught excluders.Wickes saw …
Business
Evening Standard
Grocery price inflation rises to record 16.7% – Kantar
Grocery price inflation has hit a record 16.7% to add a potential £788 to annual shopping bills, figures have shown.The “staggering” 2.3 percentage point jump in the four weeks to January 22 has exceeded the previous high recorded by analysts Kantar in October and is the highest figure since their records began in 2008.Intense competition …
Business
Sky News
Rising public support for unions despite widespread strikes, Sky News poll suggests
Support for trade unions is rising even though strike action is bringing public services to a standstill , Sky News polling shows.Industrial relations are at their most fractious since the 1980s, with the country having lost more than a million working days to strikes last year. Despite this, sympathy for striking public sector workers has …
Business
Sky News
Stationery chain Paperchase on brink of collapse as hopes of solvent rescue fade
Paperchase, the high street stationery retailer, is close to collapsing into administration as hopes of a solvent rescue deal fade.Sky News understands the chain’s parent company could appoint insolvency practitioners from Begbies Traynor as soon as Tuesday. Paperchase’s shareholders remain in discussions with more than one potential buyer, although insiders said that a sale of …
Business
Sky News
Electric vehicle start-up Arrival cuts 800 jobs as it focuses on US future
Arrival, the UK start-up focusing on development of commercial electric vehicles, has revealed that it is to cut its workforce by half as it focuses on incentives to build its operations in the United States.The company said the layoffs, part of a plan to significantly reduce costs, would leave it with 800 employees globally. It …
Business
Sky News
UK economy set to fare worse than any other country in developed world – including Russia
Britain’s economic reputation has been dealt a further blow after the International Monetary Fund (IMF) forecast that this year the UK economy will fare worse than any other country in the developed world – including Russia.In the latest update of its economic forecasts, the IMF said that it expected the UK’s gross domestic product (GDP) …
Business
Sky News
JD Sports cyber attack may have exposed millions of names, numbers and addresses
JD Sports is contacting customers who have been affected by a cyber attack that may have exposed their personal details.The incident impacted 10 million people who placed orders between November 2018 and October 2020. Customer names, delivery, billing and email addresses, phone numbers, and the last four digits of bank cards were potentially exposed.It includes …
Business
Sky News
Matchesfashion owner pumps in £60m to keep online retailer in shape
The private equity backer of Matchesfashion, the online upmarket fashion retailer, is pumping tens of millions of pounds of new funding into the business as it seeks a revival under its new management team.Sky News has learnt that Apax Partners, the London-based buyout firm, has agreed to inject £60m into Matchesfashion, which sells brands including …

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