Almost 110k small firms applied for the government’s Bounce Back loan scheme on the day it opened, eclipsing demand for the previous CBILS which many firms did not apply for among rigid criteria (The Telegraph). Lenders have said they may struggle with demands under the scheme (The Guardian, The Times £). The government promised for the scheme to have a simple application, consisting of only seven questions making it easier for smaller businesses to secure the money (Sky News).
Food supplier Adelie has approached rivals Greencore and Bakkavor for a rescue deal, with sources stating a sale could be imminent as it lost all foodservice business amid the coronavirus pandemic (Sky News).
Consumer and disability groups have said food deliveries to vulnerable people need better coordination after it emerged many are still struggling to access necessities (The Guardian).
Hotel Chocolat will reopen up to five stores next week - for takeaway only - to test safe measures to work during the coronavirus pandemic (The Guardian).
More than 50k hospitality businesses are calling on the government to raise the threshold for support before the next rent payments are due or they risk going bust. At present the retail, hospitality and leisure grant is available only to businesses with a rateable value below £51k, excluding 54k establishments across England and Wales with higher ratable values (The Times £).
Superdrug has become the latest retailer to demand rent cuts. The pharmacy chain has written to landlords to inform them of plans to cut its rent payments by 75% for a minimum period of three months (The Times £).
The EU consumer organisation said Amazon and Ebay should be responsible for any faulty and unsafe goods they sell (The Financial Times £).
Tyson Foods, the largest US meat company, has warned of further upheval in the coming months as it reported disappointing quarterly results and said it expects volumes to fall in the second half of the year and costs to continue rising due to the coronavirus pandemic (The Financial Times £).