Plans to convert warehouse into circus school approved
The school teaches about 100 students each week in classes including acrobatics, aerial skills such as trapeze, ropes, hoops and other circus arts.Planning documents state: "The facility would support improved access to creative, inclusive fitness opportunities in Nottingham, while making effective use of a currently vacant industrial unit."
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Times
11 minutes ago
- Times
Sosandar downgrades profit forecast after M&S hack dented sales
A clothing retailer for 'fashion-conscious' women has downgraded its profit forecast by more than half after the cyberattack on Marks & Spencer, its second-biggest stockist, dented sales. Shares in Sosandar dropped 20 per cent after it warned that the disruption to third-party partner sales caused by the M&S hack would persist 'at least until August'. The retailer, whose dresses have been worn by television presenters Fearne Cotton and Holly Willoughby, said there had been no sales via M&S since mid-April, when the breach forced the high street giant to halt online clothing deliveries. M&S's bosses do not expect operations to be fully back up and running before the end of next month, three months after the attack. • UK lacks resources to deal with cyberattacks, says M&S chairman 'This, alongside the decision to focus on the existing store portfolio and pausing on opening more stores for now, means that we are taking a prudent view of our full-year outturn,' Sosandar said. Sosandar now expects revenue to grow by 18 per cent this year to £43.6 million, with pre-tax profit forecast at £400,000. This is down from its earlier projection of £46.2 million in revenue and £1.5 million in profit. The business was founded in 2015 by Alison Hall, a former Look magazine editor, and Julie Lavington, its former publishing director, who believed that the high street was failing to meet the fashion needs of women. Sosandar listed on Aim, London's junior stock market, in 2017 through a reverse takeover of Orogen, a former goldminer. Until last year it sold clothing solely online and via partnerships with retailers including Sainsbury's, M&S and Next. The business based in Wilmslow, Cheshire, began opening bricks-and-mortar shops last year. It currently operates six, mainly in affluent market towns and cities. The company said it would focus on making its existing stores profitable before opening more, and remains cash generative with £8 million on hand. Like many fashion retailers, Sosandar has been affected by slowing discretionary spending amid the cost of living crisis. It reported a fall in annual revenue from £46.3 million to £37.1 million in the year to March 31, which it attributed to a 'deliberate transition away from price promotional activity to improve gross margin'. Adjusted pre-tax profit turned positive at £200,000, compared with a £300,000 loss the previous year, although audited results showed a small overall loss due to stock writedowns and one-off costs related to relocating its warehouse. The company reported a 15 per cent revenue rise in the first quarter of the current year, with its own website driving growth despite disruptions at M&S. 'We believe we are now at an inflection point, with the foundations laid for profitable, cash-generative growth,' Hall and Lavington said in a joint statement. 'We will continue to leverage our brand equity and scale the business through multiple channels, and are excited for what lies ahead for Sosandar.' Shares in the company fell 1¾p, or 21.9 per cent, to close at 6¼p on Tuesday. The stock has fallen by about 50 per cent over the past five years.
Times
11 minutes ago
- Times
Nicolas Jackson: Manchester United monitoring Chelsea forward
Manchester United are monitoring the situation of Nicolas Jackson as the forward weighs up his future after Chelsea's summer spending spree, which included the acquisition of strikers Liam Delap and João Pedro. Pedro scored three times for Chelsea having joined up with them during their victorious Club World Cup triumph after his £60million move from Brighton & Hove Albion while Delap, who joined from Ipswich Town last month for £30million, scored in the group stage win over Espérance de Tunis. Jackson failed to score in the tournament in the United States and the 24-year-old Senegalese was banned for two matches for a studs-up challenge on Flamengo defender Lucas Ayrton. Chelsea are not actively looking to sell Jackson, who cost them £32million two years ago when they bought him from Villarreal, but there is a feeling that they could end up cashing in on the player if they receive a decent offer for him, and United are among a number of interested clubs. AC Milan and Aston Villa are also monitoring events. Chelsea also spent an initial fee of £48.5million on Jamie Gittens, the winger from Borussia Dortmund, a fortnight ago. United want to bolster their attack after they scored only 44 Premier League goals last season, their worst total for a single league campaign since 1973-74 (38 goals) — when they were relegated. Jackson celebrates Chelsea's Club World Cup success, a competition in which he made one start, scored no goals and was sent off four minutes into another substitute appearance GETTY IMAGES After their signing of attacker Matheus Cunha from Wolverhampton Wanderers for £62.5million last month, United are in talks with Brentford over a deal for forward Bryan Mbeumo, who is valued at a similar price by the London club. United have so far failed to get rid of wantaway players like Marcus Rashford, Antony, Jadon Sancho, Tyrell Malacia and Alejandro Garnacho, but they are still set to make up to about £18million from sell-on clauses in the contracts of Anthony Elanga, Maxi Oyedele and Álvaro Carreras, the latter of who joined Real Madrid in a £37million deal from Benfica on Tuesday.
The Guardian
19 minutes ago
- The Guardian
BBC to look at overhauling licence fee as 300,000 more households stop paying
A further 300,000 households have stopped paying the licence fee, as the BBC said it was looking at overhauling the payment to secure the corporation's future 'for the long term'. As the broadcaster continues to battle the rise of YouTube and streaming services that have split audiences across numerous platforms, its annual report revealed 23.8m licences were in force at the end of the year, down from 24.1m in 2023-24. The drop means a loss of about £50m in revenue for the corporation. It comes with the government and BBC bosses starting discussion of the future of the BBC and its funding as part of the process to renew its charter. Both sides have suggested changes to the licence fee. However, BBC senior executives have set red lines around any move to a subscription or ad-based service as used by their streaming competitors. The pace of change within the media world is so great that Samir Shah, the BBC chair, said in the report it was a 'moment of real jeopardy for the sector'. 'The fight is on, and it is vital we now think very carefully about the kind of media environment we want for the UK,' he said, adding he was searching for 'the best future funding model for the BBC'. 'I have already set out some views on this and the board will be saying more over the coming months,' he said. 'But all of us are clear that we want to make sure we protect the BBC as a universal service and help it not just to survive, but thrive, for a generation and more.' Licence fee income increased slightly year on year, totalling £3.8bn in 2024-25. However, the small rise was down to the 6.7% inflationary increase in the fee to £169.50 a year. 'The current collection method remains fair, effective, and good value for money,' the report said. 'As we approach the end of the charter, we will proactively research how we might reform the licence fee to secure the benefits of a well-resourced, universal BBC of scale for the long term.' The BBC annual report also showed that, for the last time, the former Match of the Day presenter Gary Lineker remained the highest-paid BBC star last year before he left the corporation in May. His earnings were about £1.3m. The next highest paid was Zoe Ball, with earnings of just over £500,000 last year. After scandals including the departure of the disgraced presenter Huw Edwards, Shah said much work had been done to improve the culture in the BBC. 'Our staff are dedicated, hard-working and treat each other with respect,' he said. 'However, there are pockets in the organisation where this is not the case. There are still places where powerful individuals – on and off-screen – can abuse that power to make life for their colleagues unbearable.' Following the Guardian's disclosure that the BBC is considering a major outsourcing project involving the help of big tech, Tim Davie, the corporation's director general, said his plans would 'require the BBC to continue to deliver reform, and to accelerate the rapid organisational transformation that has been under way in recent years'. 'We have already used gen AI to increase the value we offer audiences with initiatives such as adding subtitles to programmes on BBC Sounds, translating content into different languages on BBC News, and creating live text pages for football matches,' he said. He added that the BBC had maintained 'its near-universal reach in the face of fast-changing audience behaviours and the pressures of a highly competitive global media market'. The BBC has been trying to boost its finances and its commercial arm recorded a record revenue of £2.16bn, driven by growth in the BritBox product that lets overseas customers watch BBC content. The licensing of the Bluey brand was also a money spinner. Despite younger audiences moving away from traditional TV, the BBC argued it was performing strongly among them compared with other traditional channels. Among under-16s, it is only behind YouTube in terms of most-used UK media. It is level pegging with Netflix and ahead of Disney. Among 16- to 34-year-olds it is only behind YouTube and just ahead of Facebook and Instagram.
