Day: August 1, 2020

Pandemic pandemonium for Mike Ashley and Sports Direct

Four years ago, Sports Direct found itself into hot water again after it failed to disclose its dealings with a distributor owned by Ashley’s older brother. Last year, it scrambled to find an auditor after Grant Thornton, its adviser, resigned. The Big Four all declined to work with Frasers.

He has now managed to burn bridges with landlords, too, after pausing rent payments or asking for significant cuts.

Property owners complain that Ashley is taking advantage of emergency laws rushed through parliament, which prevent landlords from kicking retailers out.

“What the Government inadvertently did when it protected smaller tenants from

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Government extends Help to Buy scheme to allow for coronavirus delays

The Government has announced a small extension to the Help to Buy equity loan scheme to allow for delays caused by coronavirus – but the change falls short of housebuilders’ hopes.

The building deadline for new homes sold through the scheme will be extended by two months, from the end of December 2020 to February 28 2021. But the March 31 2021 deadline for most sale completions remains the same. 

Where necessary, extensions may be granted for homebuyers who have experienced severe delays because of the pandemic and reserved properties before June 30. These buyers will get an extension to

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‘I was excluded from coronavirus support and now I have to sell my home’

People excluded from the Government’s coronavirus support schemes are being forced to sell their properties to raise cash in order to survive financially after being left without income for almost five months.

House buying firms have reported a surge in inquiries from people struggling to make ends meet amid the Covid-19 pandemic. Many are looking to free up cash with quick sales – even if it means they get less than the property is worth.

Mortgage holidays are still in place, with almost two million people taking advantage of payment breaks, but others urgently need cash to see them through.

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Willie Walsh blasts ‘blind and deaf’ union as Qatar rides to IAG’s rescue

BA announced up to 12,000 redundancies in April in response to the pandemic, which led to all but a handful of flights being grounded.

Union leaders are angry at BA’s plans to “fire and rehire” some cabin crew, forcing those that remain at the airline to accept inferior pay and working conditions.

“At the heart of this, you have a trade union that has refused to accept that this is a crisis that needs to be addressed,” Mr Walsh said.

“The Unite trade union has told everybody that this is a temporary issue that can be resolved by temporary measures. 

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