UK Greetings card chain Clintons in survival talks with Landlords

Greetings card chain Clintons is considering shop closures and rent cuts as part of a survival plan.

The retailer, which has about 2,500 staff, is in restructuring talks with landlords in another sign of the High Street crisis.

A spokeswoman told the BBC no decisions have yet been made.

Clintons was responding to reports on Sunday that it wanted to close 66 out of 332 shops, with landlords slashing rents on most of the other stores.

The restructuring would involve a controversial scheme known as a company voluntary arrangement (CVA), an insolvency process that allows companies to continue trading while pushing through closures and rent cuts.

A Clintons spokeswoman said “discussions are continuing with our landlords but no decisions have been made”.

But she declined to comment on a Sunday Telegraph report that the company told landlords 90 of its shops were loss-making and that sales were expected to continue to decline.

Source: BBC News

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UK Election 2019: Is Climate Change a deal breaker for you?

Sian Berry  Co-leader of the Green Party on the launch of their general election campaign said: “Some things are even bigger than Brexit. This must be the climate election. The future won’t get another chance.”

The party says it would fund their climate change pledge of £100bn a year by borrowing £91.2bn a year, with an extra £9bn from “tax changes”.

The party also set out plans to make Britain carbon neutral by 2030.

Conservative party  has already committed to cut carbon emissions to net zero by 2050, a move announced by former Prime Minister Theresa May before she left office earlier this year.

Boris Johnson led Conservatives on his election campaign said they have “a proper plan to continue reducing carbon emissions” which will build on the “400,000 low carbon jobs we’ve already created (while in government)”.

Labour has also set out some of its own environmental pledges, including a promise to cut UK carbon emissions by 10% through a home improvement programme.

A Labour government would fund £60bn of energy-saving upgrades, such as loft insulation, enhanced double glazing and new heating systems, by 2030.

The question now is which party and who do you trust to deliver on climate change and will it be a deal breaker for you?

 

For property investment in the UK from start to finish, Please Contact me

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

UK government suspends fracking indefinitely

The government has called a halt to shale gas extraction – or fracking – in England amid fears about earthquakes.

The indefinite suspension comes after a report by the Oil and Gas Authority (OGA) said it was not possible to predict the probability or size of tremors caused by the practice.

Business Secretary Andrea Leadsom said it may be temporary – imposed “until and unless” extraction is proved safe.

Labour, Lib Dems and the Green Party want a permanent ban.

UK Finance survey shows UK mortgage approvals hit 6 month low

The number of new mortgages approved by British banks hit a six-month low in September, according to a survey that adds to signs the housing market is slowing again ahead of the October Brexit deadline.

 

Industry body UK Finance said banks approved 42,310 loans for home purchase in September, compared with 42,527 in August, according to seasonally-adjusted data. However, the number of approvals for remortgaging rose to the highest level since November 2017 at 32,649.

UK Finance said annual growth in consumer credit rose to a 19-month high of 4.5%, driven by personal loans and overdrafts rather than credit card lending.

Source: Reuters

Fewest UK homes being put on sale since 2016 as Brexit nears – RICS

Britons are holding off from trying to sell their homes due to uncertainty about when and how Britain will leave the European Union, according to a survey published by RICS which adds to signs of a slowdown in the housing market.

PIPA property photo

The Royal Institution of Chartered Surveyors (RICS) said new sales instructions fell last month (Sep. 2019) at the fastest pace since June 2016, when Britain voted to leave the EU in a referendum.

(Source from UK Reuters News)

UK house price growth hits eight-month low in September – Nationwide

Report by LONDON (Reuters) – British house price growth touched an eight-month low in annual terms in September, adding to signs that the market may be cooling again ahead of the October Brexit deadline, a survey showed on Tuesday.

DenEco Products and Services - Property Services and more 2014-05-27 14-58-35

House prices rose 0.2% on the year, slowing from a 0.6% increase in August, mortgage lender Nationwide said. A Reuters poll of economists had pointed to a 0.5% rise.

In September alone, house prices fell 0.2% against expectations for a 0.1% rise.

https://uk.reuters.com/article/us-britain-economy-houseprices/uk-house-price-growth-hits-eight-month-low-in-september-nationwide-idUKKBN1WG2Y4

 

For property investment in the UK from start to finish, Please Contact me

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk