Mar 27, 2020
Investors Chronicle: Biffa, Ted Baker, Royal Dutch Shell
The group anticipates the cumulative impact on earnings will not be material for the current financial year - which ends on March 27 - but will hit next year. Stricken clothing retailer Ted Baker has sold its headquarters to the British Airways pension scheme for £78.75m in a battle to bring down its debt levels, writes Alex Janiaud. Ted Baker sustained a heavy blow to trading from the coronavirus outbreak, which has forced the temporary closure of 384 of its 416 stores, representing around 68 per cent of its 2020 global retail sales. Ted Baker's shares slumped by nearly a quarter following the company's announcement. Royal Dutch Shell has frozen its buyback programme and will cut spending by about $5bn this year in response to the Covid-19 crisis, writes Alex Hamer.
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