furlough news and archive

Frugi Group reports 51 percent sales increase, repays furlough funds

British ethical and sustainable-focused childrenswear company Frugi Group has reported a 51 percent increase in sales for the seven months to December 2020. The group said growth was driven by continued momentum in shoppers buying from D2C businesses throughout the pandemic, along with the shift in consumer spending towards sustainable, ethical...

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Budget 2021: ‘Restart Grants’ for retailers, business rates holiday extended

Chancellor Rishi Sunak unveiled his budget for 2021 on Wednesday, which included more support to help retailers ride out the pandemic. The 100 percent business rates holiday introduced last year has been extended until the end of June. After that, a discount of up to two-thirds will be available for nine months. The government said it has...

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UK furlough scheme extended until end of September

The UK government has announced it is extending the country’s furlough scheme again, this time until the end of September. Chancellor Rishi Sunak said Wednesday the Coronavirus Job Retention Scheme (CJRS) - which sees the government pay 80 percent of employees’ wages for hours not worked due to the pandemic - will be extended by a further three...

Business

Asos, a pandemic winner, to repay furlough cash

A minority of fashion companies saw sales surge during the lockdown period, including Asos, which posted stronger than expected results for the four months to June 30. The online retail giant said it would pay back the funds it claimed from the government for furloughing its staff after sales increased. Asos group sales increased by 10 percent...