Author: Scott Dylan

Sosandar is expanding its presence by partnering with the iconic Irish department store Arnotts. This partnership marks the first ever in-store shop for Sosandar in Dublin.The partnership aims to enhance Sosandar’s engagement with Irish customers, building on the strong demand for its products.Sosandar, a renowned UK fashion label, is extending its retail footprint through in-store concessions within Arnotts, a prestigious department store in Dublin. This strategic move is aimed at fostering stronger connections with its consumer base in Ireland. The Cheshire-headquartered company, which is listed on the London Stock Exchange, has observed a robust demand for its apparel in Ireland,…

Ground was first broken on the project in 2017 but it has been hit by cost inflation.The UK-Dutch chemicals firm Accsys has confirmed the closure of its planned Tricoya construction material factory in Hull. Rising costs and contractor issues have led to this difficult decision.The construction of the Tricoya production plant at Saltend Chemicals Park in Hull began in 2017. The project aimed to establish a facility for producing an innovative MDF material. However, the endeavour faced numerous setbacks. Rising costs and the loss of the primary contractor delivering the £120 million project significantly impacted progress.Accsys had anticipated that the…

Lego has sustained its upward momentum, achieving a notable increase in both UK sales and profit for the sixth consecutive year in 2023. This achievement comes amid a challenging market, reflecting the company’s strong strategic planning and adaptability.Consistent Revenue GrowthLego’s Berkshire-based division reported a turnover of £449.2 million for its latest financial year, signifying an increase from £440 million in 2022. This sustained growth is noteworthy, considering the broader market challenges.The last time Lego did not see an increase in both UK sales and pre-tax profit was in 2017. During that year, turnover fell to £269.6 million from £286.4 million…

Yonder, a fintech startup targeting Millennials and Gen Z, has raised £23.4 million in new funding.The funding aims to boost Yonder’s travel and city exploration rewards offerings.Yonder plans to use the funds for expanding travel-related features like Flights and Stays.The investment signals confidence in Yonder’s growth potential within the credit card market.Yonder’s valuation has now surpassed £100 million following this funding round.Yonder, a fintech firm focused on providing rewards for Millennials and Gen Z, has successfully raised £23.4 million. This strategic investment arrives on the heels of their previous £12.5 million Series A funding round and an additional £50 million…

Late payments significantly impact small businesses, averaging £22,000 in losses annually. In response, the UK government has launched a consultation to devise stringent laws holding larger companies accountable.The proposed measures aim to enforce transparency in payment practices, requiring large firms to disclose payment data in their annual reports. Past efforts, like the 2017 “duty to report” legislation, have seen limited success.Research by the Chartered Institute of Procurement & Supply has revealed a persistent issue with late payments. Despite legislative efforts, improvements in payment behaviours of large companies have been minimal.Business Secretary Jonathan Reynolds echoed the sentiment, describing late payments as…

The UK division of a global coffee giant has seen its sales surpass the £100m mark for the first time. Newly filed accounts have revealed this remarkable achievement.Located in Uxbridge, the division reported a turnover of £102.3m for 2023. This is a substantial increase from the £92.5m recorded in 2022, reflecting the company’s resilient performance.Lavazza UK’s turnover totalled £102.3m for 2023, a notable jump from £92.5m the previous year. Pre-tax profits rose as well, from £1.3m to £1.5m in the same period, underscoring strong financial health.The board expressed satisfaction with these results, deeming them satisfactory. This sentiment is shared by…

The number of new home approvals in the UK has plummeted to its lowest level in a decade. This unexpected downturn presents a significant challenge to the government’s ambitious housebuilding targets.In the three months leading up to June, only 53,379 new homes were approved, according to the Home Builders Federation. This marked the lowest quarterly total since 2014, underscoring the pressing issues facing the housing sector.The Home Builders Federation reported a sharp decline in new home approvals, which fell to 53,379 in the three months to June. This represents the lowest quarterly total recorded since 2014, highlighting the complexity of…

The UK government’s recent approach to technology is under the microscope.There is a need for swift and decisive policy-making to support tech growth.The current political calendar poses challenges for immediate policy action.Skills development remains a pivotal focus for the government’s tech strategy.Initial assessments of the government’s progress highlight both bright spots and areas needing attention.The UK government’s recent emergence on the political scene brings its technology strategy under close scrutiny. Observers are keen to assess its initial months in office, particularly regarding its support for the rapidly evolving tech sector. The government faces the challenge of balancing meticulously planned policies…

UK SMEs are calling on the government to address critical financial barriers in the upcoming autumn budget.New research indicates a rise in business confidence, but concerns over potential tax increases persist.The latest SME Confidence Tracker reveals a rebound in business optimism post-election, with 68% of SMEs expecting sales to increase over the next six months. This marks a 7% rise since March 2024.With inflation stabilising and interest rates lowering, 63% of SME leaders feel more confident about making capital investments. Furthermore, 52% are more inclined to pursue major investments following the General Election.However, the prospect of tax hikes in the…

Morrisons has consolidated its online shopping experience into a single, enhanced app to improve user convenience and efficiency.Previously, Morrisons operated with two regional apps, which often left customers confused about their designated platform.The transition occurred over the summer in a phased approach and introduced several innovative features aimed at streamlining the shopping process.The new app incorporates an improved checkout system, easy recipe integration, and one-click ordering to enhance user experience.This change is part of Morrisons’ broader strategy to innovate and expand its market presence, including a strengthened loyalty programme.Morrisons has recently undertaken a significant restructuring of its digital shopping platforms,…