As part of Menzies commitment to sharing #BrighterThinking, our teams of accounting and business advisors have been providing their opinions on some of the leading hot topics raised within some of the UK’s leading national, regional and specialist press titles.
Here follows a summary of Menzies in the media for January 2020.
Next retail results
Insolvency specialist Freddy Khalastchi comments on the post-Christmas retail results for UK fashion retailer Next.
“Stronger than expected, these results reveal Next’s success in developing a multi-brand, multi-channel proposition. With falling sales and profit margins still defining much of the UK high street, these results are a sign that Next are clearly doing something right.”
Morrisons retail results
Insolvency specialist Simon Underwood comments on UK supermarket Morrisons crucial Christmas sales period.
“This is a fair set of results from Morrisons, which is not as bad as some analysts had been expecting. The dip in like-for-like sales (excluding fuel) of 1.7 percent in the 22 weeks to the 5th January reflects the exceptionally tough trading conditions in the run up to Christmas 2019 and, in particular, the timing of the general election, which may have discouraged consumer spending.”
Regeneration of UK High Streets
As the UK high street and retail sector continue to struggle, Insolvency specialist Simon Underwood and retail sector specialist Martin Hamilton evaluate the Government’s decision to provide funding to support the regeneration of High Streets.
“The Town’s Fund has already earmarked a total of £3.6bn for investment for over 100 locations across the UK. Places wishing to secure a share of the fund have been invited to submit their own Town Investment Plans, complete with a Board of local representatives to agree its objectives and take responsibility for its delivery.”
Boosting the unicorns
Business Tax specialist Stephen Hemmings analyses the growth in unicorn investment in the UK tech sector and what the future holds for the sector.
“With investment in UK tech start-ups reaching a record high last year, the conditions for growth in the sector have never been better. Now, some changes to popular tax breaks, which are designed to encourage long-term investment in high-risk businesses, are set to bring further improvements.”
What happens when your supplier goes bust?
Insolvency specialist John Cullen explores what business can do should a key business supplier go ‘bust’ and the value of having a robust contingency plan.
“On learning that a critical supplier has gone bust, it’s important not to panic; in the short-term, it may still be possible to ensure supply continuity. Making early contact with the appointed insolvency practitioners can help owner managers to get a better picture of the future supply situation, so they have advance warning of any potential disruption.”
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