Byron to cut 650 jobs and close 31 outlets

Byron will permanently close 31 restaurants with the loss of 651 jobs despite the burger chain being bought out of administration.

It will shut more than half its 51 sites after becoming the latest casual dining business to be hammered by the coronavirus pandemic.

Administrators at KPMG said that the brand and certain assets had been sold to a newly formed company called Calveton in a move that will protect its 20 remaining sites and 551 employees.

Will Wright, partner at KPMG and joint administrator, said the sale “ensures Byron will continue to have a presence on our high streets”.

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Target to close for Thanksgiving, double down on same-day services

Dive Brief:

  • Target has opted to close its stores for Thanksgiving Day this year after opening on the holiday for most of the past decade. The announcement comes days after Walmart announced it would close its U.S. stores on Thanksgiving. 
  • The mass merchant is also adding 20,000 new products to its pickup and delivery services, including fresh and frozen grocery products.
  • As a kind of antidote to crowded shopping amid a pandemic, Target said it would offer its biggest deals for holiday shopping “earlier than ever,” starting in October, so that customers “can shop safely and conveniently without
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Walmart to close on Thanksgiving

Dive Brief:

  • Walmart has decided to close all of its stores in the U.S. on Thanksgiving this year, for the first time since the late 1980s. The company also said its Sam’s Club locations will be closed on the holiday this year. Walmart said it will operate at normal hours on Wednesday, Nov. 25, while Black Friday hours “will be shared at a later date.”
  • “We know this has been a trying year, and our associates have stepped up,” John Furner, president and CEO of Walmart U.S., said in a statement. “We hope they will enjoy a special Thanksgiving
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Heavy regulation forces ‘final salary’ pensions transfer advocate to close business

Financial advisors offering pension transfers are being chased out of the market by mounting costs and heavy regulation at a time when savers can receive record amounts of cash for ditching “final salary” pension schemes. 

Tideway Investment Group, a financial advice firm, which has been a strong defender of the right to transfer out of “defined benefit” schemes under pension freedom rules, has become the latest to close its transfers advice business.

It had to immediately cease giving advice on transfers and completing pipeline business in relation to transfers as of the beginning of July, according to the Financial Services

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