Wednesday newspaper round-up: Debenhams, pubs, retailers
The government has privately admitted the UK faces an increased likelihood of “systemic economic crisis” as it completes its exit from the European Union in the middle of a second wave of the coronavirus pandemic. A confidential Cabinet Office briefing seen by the Guardian also warns of a “notable risk” that in coming months the country could face a perfect storm of simultaneous disasters, including the prospect of a bad flu season on top of the medical strains caused by Covid. - Guardian
Up to 60 Debenhams shops could close next year, putting thousands of jobs at risk, as part of a rescue deal for the beleaguered department store group. Shares in JD Sports fell more than 6% on Tuesday after it emerged the company was in exclusive talks to buy Debenhams, in a move that would take the sports and casual wear group into a tough new market. - Guardian
Pubs risk losing sales worth £1.5bn in December alone as Boris Johnson’s tough new regional tier system looks set to deliver a further blow to the beleaguered sector, industry chiefs warned. When England's lockdown ends on 2 December, pubs operating in tier two will only be allowed to serve customers alcohol if they also order a substantial meal, while whose in tier three can only operate for takeaway sales. - Telegraph
Councils have been handed tough new powers allowing them to shut down businesses for up to a week for flouting Covid rules, Downing Street has announced. Business leaders warned against a “heavy-handed” approach to the “incredibly stringent” powers that will help local authorities tackle firms failing to make their premises Covid-secure. - Telegraph
Retailers that paid out dividends after a boost in sales during lockdown are under growing pressure to hand back millions of pounds of taxpayer support after the boss of AO World said that executives “should go and ask their mum if she would be proud”. John Roberts, 47, said that the online electricals retailer had returned business rates relief and furlough cash after sales and profits had boomed during the pandemic. - The Times