Business

Three of the UK’s ‘big four’ supermarket chains have now confirmed plans to return a total of almost £1.3bn in coronavirus aid to the public purse. Sainsbury’s revealed on Thursday morning it was to discuss with officials how it could hand back an expected £440m – following in the footsteps of rivals Tesco and Morrisons

Arcadia owner Lady Christina Green is to bring forward a £50m payment into the collapsed retailer’s pension fund. A statement on behalf of Sir Philip Green’s wife – who is the registered owner of the company – said the payment in the next seven to ten days would complete a commitment made last year to

Debenhams is to be wound down after JD Sports pulled out of talks on a rescue takeover, placing 12,000 jobs at risk in a horror week for UK retail. The decision was taken after a sale process, initiated by administrators when the troubled 242-year old department store collapsed in April, was officially concluded leaving it

Shoppers have been waiting in virtual queues for over an hour as they rush to snap up deals on the Debenhams website after the chain’s collapse. The department store chain is being wound down after JD Sports pulled out of talks on a rescue takeover, placing 12,000 jobs at risk in a horror week for UK

An invisible presence: in the end, the statement that Arcadia group had succumbed to insolvency on Monday night was an apt metaphor for Sir Philip Green’s recent stewardship of his Burton-to-Topshop fashion empire. Confirmation of Deloitte’s appointment as administrator made no reference to the pugilistic Monaco-based tycoon whose family has owned one of Britain’s most

Mike Ashley’s Frasers Group says it would be interested in participating in the sale process should Sir Philip Green’s Topshop empire collapse. The company released a statement to the City on Monday morning to confirm a story by Sky News that it had offered Arcadia Group a £50m loan to avert it calling in the

The biggest overhaul of agricultural policies in half a century has been unveiled by the government in a bid to create more sustainable farming and tackle climate change. It will reduce subsidies for farmers from next year, replacing them with payments to encourage landowners to protect the environment. Environment Secretary George Eustice told Sky News

Standard Life Aberdeen is preparing to further unwind the legacy of its former chief by putting a platform which services independent financial advisers on the block. Sky News has learnt that the asset management giant is to launch an auction of Parmenion, which manages roughly £6.5bn of investments on behalf of IFAs, according to its

Mike Ashley is offering a £50m lifeline to keep Arcadia Group afloat amid a looming tussle between the high street’s biggest beasts for control of Sir Philip Green’s TopShop empire. Sky News has learnt that Mr Ashley’s Frasers Group has drawn up plans for an emergency loan to Arcadia just hours before its board appoints

Farmers have been left struggling to cover costs as wool prices have plummeted during the coronavirus pandemic.  Shepherd Stuart Fletcher was forced to throw his harvest onto compost after the price of wool fell by 50%. Mr Fletcher, who runs a farm in East Sussex, said it would cost more in fuel to transport the

Even 10 years ago it was impossible to think that Sir Philip Green’s retailing career would be ending in the way it appears to be. The tycoon was the undisputed king of the high street, owner of a vast and profitable retail empire that straddled the BHS department store chain and Arcadia, owner of storied

Sir Philip Green’s retail empire is facing collapse within days, putting 15,000 jobs at risk and bringing the curtain down on the high street career of one of Britain’s most controversial businessmen. Sky News has learnt that Arcadia Group – which owns TopShop, Burton and Dorothy Perkins – is preparing to appoint administrators from Deloitte

Boris Johnson must commit to weekly reviews of the coronavirus tiers dictating the ability of pubs, restaurants and nightclubs to trade during the remaining months of the coronavirus pandemic, scores of hospitality chefs will warn on Thursday. Sky News has seen an open letter to the prime minister from dozens of bosses – including executives

Pub and bar operator Mitchells & Butlers has revealed that 1,300 staff have been made redundant as the COVID-19 crisis bites. The group behind chains including Harvester, All Bar One and Toby Carvery made the announcement as it slumped to a pre-tax loss of £123m for the year to 26 September, compared to a profit

Government secrecy over its new border operating system is hindering the country’s Brexit preparations, according to haulage industry bosses who labelled the process a “complete shambles”. In a letter seen exclusively by Sky News, the Road Haulage Association (RHA) has warned Cabinet Office minister Michael Gove that delays in sharing the new IT software with

Chancellor Rishi Sunak is setting out government spending plans and latest economic forecasts. Here are the main points: £18bn allocated to testing, PPE and vaccines and £3bn for the NHS plus over £2bn for transport arteries open How will the spending review affect you and the country? Sky’s economics editor Ed Conway will answer your