Asos boss Nick Beighton said he will visit suppliers tomorrow to inspect their factories. Asos has 173 suppliers at 900 factories in 24 countries, including seven in Leicester working across 30 sites.
Asos also said that it would not be taking advantage of Chancellor Rishi Sunak’s £1,000 per employee bonus scheme for bringing back staff from furlough.
The company listed on AIM at the beginning of June, announcing as it did so the first of what it hopes will be a long sequence of royalty acquisitions.
The Office for Budget Responsibility said prices could fall 2.4 per cent this year and 11.7 per cent next year. That would push the average price down from around £230,000 to below £200,000.
Treasury figures show £46.3bn has now been lent to 1.1m firms, including £31.7bn lent to 1m of the UK’s smallest companies through the Bounce Back scheme.
The airline was at risk of plunging into administration putting almost 10,000 jobs in danger after the global travel shutdown forced it to abandon commercial flights.
In its latest update, the OBR laid out the potential damage which coronavirus will cause to the public finances. In its central forecast, public sector borrowing will rise to £372.2bn this year.
Ocado The group reported a 27 per cent jump in retail revenues to £1bn due to ‘unprecedented’ demand during the six months to May 31. This helped retail profits jump 87 per cent to £45.7m.
The sofa chain is overhauling the two brands. It said revenues slumped to around £725m in the year to June 28 after it was forced to freeze deliveries for most of its final quarter.
The discounter plans to open over 25 stores in the next six months, and 100 stores in 2021 and 2022, creating a further 4,000 new jobs. By comparison Sainsbury’s has 1,400 supermarkets.