Hollywood Bowl Group (BOWL) has announced a special dividend for the second consecutive year as it booked record profits and revenues. The UK’s largest 10-pin bowling operator said it will hand investors a special dividend of 4.33p per share on top of the ordinary dividend for the year, returning a total of £15.9million to shareholders. Shares in Hollywood Bowl, which listed on the London stock exchange in 2016 at 160p, rose 9.2% to 200.5p in morning trading.
Interserve (IRV) shares crashed by more than 70% first thing this morning after it confirmed a major debt restructuring that could result in ‘material dilution’ for shareholders, and creditors taking control of the company. Interserve, which works for the likes of the Metropolitan Police and Edinburgh Zoo, said it is in ‘constructive discussions’ with lenders to cut its £614million debt, with the debt-for-equity swap set to be announced in early 2019. Shares in Interserve regained a little ground and were down 57% at 10.50p by mid morning.
Ted Baker shares dive by 3% as boss takes time out over allegations of giving ‘forced’ hugs and straddling a female employee. Ted Baker (TED) faces another week of turmoil after founder Ray Kelvin took a leave of absence over more ‘serious allegations’ about his behaviour with employees. Investors in the fashion retailer are braced for a bumpy ride when markets open today. Its shares plunged 3% in the final minutes of trading when Kelvin’s leave was announced on Friday.
Amazon ‘set to land on the British High Street with a high-tech, till-free supermarket’ after launches in the U.S. Amazon is planning to open one of its high-tech till-free supermarkets in London’s West End, it has been claimed. The Amazon Go stores allow customers to pick up their shopping and leave without having to go through a checkout, by charging them automatically through their phones. The internet giant wants to open its first British bricks-and-mortar store close to Oxford Circus, the Sunday Telegraph reported.
Britain’s High Street is braced for a tough Christmas as heavy discounts fail to lure shoppers from the internet. Britain’s High Street faces a bleak Christmas amid warnings that heavy discounting is failing to lure shoppers away from the internet. The year-on-year drop in footfall at small stores, shopping centres and retail parks will accelerate this month as even more people go online to buy their festive gifts, according to experts. It comes on the heels of disappointing Black Friday sales in November, piling further pressure on retailers. And although Christmas is traditionally the period of peak sales, analysts now fear it will offer little respite.