Official portrait of Rishi Sunak. Wikimedia Commons

UK Government announces ‘flexible’ new furlough arrangements

The UK government has confirmed the latest set of changes to its “flexible” furlough scheme – dubbed CJRS V2 – ahead of its launch of the 1 July. HM Revenue and Customs has set out the new guidance as the current version of the Coronavirus Job retention Scheme (CJRS) ends today (30 June). The updated guidance explains that from 1 July, employers can bring furloughed employees back to work for any amount of time and any shift pattern, while still being able to claim CJRS grant for the hours not worked. From…

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Pret A Manger shop front, Lands Lane, Leeds. Photo: Wikimedia Commons From Wikimedia Commons

Coronavirus: Leon and Pret A Manger ready to fight landlords

Fast-food chains Leon and Pret A Manger are demanding rent cuts from landlords as the restaurant industry fights for its life. Leon, led by John Vincent, has hired advisers from restructuring firm Quantuma. Pret has hired Alvarez & Marsal and property consultancy CWM to cut costs. Both chains are pressing landlords to accept new terms, including linking rents to turnover. Leon and Pret are among the high street brands thrown into crisis by the pandemic. Even when restaurants and fast-food chains do reopen, footfall is expected to be low as…

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LA Dodgers vs NY Mets. Photo_ Wikimedia Commons

Real Estate tycoon brothers to bid for New York Mets, Newcastle United

Simon and David Reuben made a fortune in metals, and made an even bigger fortune in real estate. Now, the billionaires are going big into sports on both sides of the Atlantic, with a hefty side dose of property thrown in. The Reubens, whose fortune is estimated by the Sunday Times at more than £18B, are in talks to buy majority ownership of the New York Mets Major League Baseball team, Variety reports. The bid has, in part, been prompted by real estate development opportunities around Citi Field, sources close to the…

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