Bullring Bull

Coronavirus: shopping centre owner Hammerson plots £600m rights issue

The company is in talks to sell its 50% stake in VIA Outlets, a portfolio of European shopping destinations, Sky News learns Britain’s biggest listed shopping centre-owner is preparing to ask shareholders for hundreds of millions of pounds to improve its chances of surviving the coronavirus pandemic. Sky News has learnt that Hammerson, which owns the Bullring in Birmingham and London’s Brent Cross mall, is drawing up plans for a rights issue that could raise more than its current market capitalisation. One investor said this weekend that Hammerson could seek…

Read More
Croydon high street (Pizza Hut). Photo by Oliver Needham on Unsplash (1)

Coronavirus: Jobs at risk as Pizza Hut puts CVA on menu

A CVA would make Pizza Hut the latest chain to resort to a formal restructuring, Sky News learns Pizza Hut has become the latest restaurant chain to put a financial restructuring on the menu by hiring advisers to explore the possibility of an insolvency agreement that could entail significant job losses. Sky News has learnt that Pizza Hut Restaurants, which employs thousands of people in Britain, has instructed Alvarez & Marsal, the professional services firm, to examine the merits of a company voluntary arrangement (CVA). Sources said that a final…

Read More
Broadway road sign, construction. Photo on piqsels.com

Coronavirus: Lights to stay down on Broadway until next year

Broadway contributes billions of dollars to New York’s economy and supports almost 100,000 jobs All 41 theatres that make up New York’s performing heartland of Broadway will stay closed until next year. They have been shut since March when they closed as part of the city’s lockdown in response to the COVID-19 crisis. Now, in what could prove to be a terminal blow for some theatres, not to mention the careers of many who work in the industry, the Broadway league has said the curtain won’t be raised on any productions…

Read More