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Is McColl`s Closing Down?
Brighton Partygoers carry on during lockdown
First weekend of the 10pm close for bars and clubs
For Years, McColl's have long been the convenience store in the community of many local towns.
But a recent analysis of their financials suggests that they could be facing possible collapse.
News For You spoke to their public relations at head office, and they were unable to comment on any news of more store closures.
So far, in 2020, they have shut a massive 65 stores.
In their August statement, they made the following disclosure:
"This presentation does not constitute an invitation, offer to sell or any solicitation of any offer to buy or subscribe for any securities in the company or any of its subsidiaries or associated companies or its or their affiliates (the "group")."
While this statement is not a legal entity to invite buyers or acquisitions, McColl's are attempting to push back any concerns about the company's possible closure.
Further Analysis of their share price also indicates a decline in the company finances and its profitability.
While their share price continues to fall, there seems to be no innovation to strengthen their current business.
When visiting their store in Hampden Park, Eastbourne trade seemed normal.
However, the concern for the 20,000 employees is what the company is not reporting.
With no real knowledge of what shareholders are getting in dividends and 82 million pounds of debt, McColl's future looks uncertain.
If firms pay out too much to the shareholders, then this places a firm into liquidity risk. This happens through not having enough cash reserves to manage any potential downturn.
While the big supermarkets have experienced considerable growth during COVID-19, footfall in McColl's has only seen marginal gains.
McColl's already carries a high number of working debt, meaning they are pushing for sales to clear their balance.
Although local lockdowns may increase customer flow during COVID-19, the bottom-line figure may not perform existing debt in the business.
The future and financial forecast for McColl's 20,000 staff members looks very unstable.
Sussex University Leads the
Way In Looking After
Two Star students from India demonstrate outstanding calmness during their first week.
Two international students from India embarking on their first week of studying at Sussex University pave the way for other students to remain calm, and hopeful during the pandemic.
The two MBA students seemed very enthusiastic about completing their studies after enrolling on their course back home in India.
When asked about their experiences in how the University is safeguarding and welcoming them, they both agreed that the University had gone above and beyond.
News For You also spoke to the University about how they are providing food to students if faced with a self-isolation.
Sussex University gave the following response:
“The University of Sussex’s leadership has agreed an enhanced support package for all students who are self-isolating. For students on campus, we will wash their clothes once a week, provide a pack of cleaning materials and will give them £25 per week to help with food shopping. On campus students with a positive test will also receive a meal once a day without charge. Students off campus will also get £40 per week financial assistance, as well as an additional payment towards take-away hot meals if they are positive. In the meantime, any student in self-isolation must let our Residential Life Team know if they are having any issues with paying for or receiving food and we will ensure they are looked after. We are providing proactive welfare support to all quarantined students, wherever they live. Our team continues to carry out individual check-ins with every student in self-isolation and they can email them at ResLife.Covid@sussex.ac.uk.”
News For You also asked Sussex University what there are currently doing if students express a wish to leave their studies, and specifically what advice they are giving them.
Sussex University gave the following response:
“We are encouraging any student who has concerns, such as not wanting to continue with their course, to contact our Student Life Centre, who will talk them through their options and, if appropriate, put support in place.”
The University have previously experienced a difficult year in 2019 when lectures went on strike in relation to pension pay.
It would seem the University have simply rose above other leading Universities and took care of their students well above to what the public would expect.
Brighton Drunks Rising
Police respond to a male being offensive to a disabled lady in the level skate park.
Officers swiftly responded to reports of disorder involving a middle-aged man and a lady in a wheelchair.
On arrival, no violence was witnessed, but the man seemed very unaware of his actions, potentially causing disturbance of peace in the Brighton community.
The two female police officers calmly questioned the male and guided the male out of the park.
During lockdown, there has been a rise in alcohol assumption for many people.
It comes to no surprise that Brighton is once again in media.
For many years, students and free-spirited people have painted the town consuming large amounts of alcohol.
However, this incident demonstrated how police officers in the UK can be polite and professional.
It is a clear example of the excellent training and development that police officers receive in the UK.
Brighton has long been a party town with years and years of partygoers flocking to the famous nightlife.
Homelessness has also been an issue for many years in Brighton.
Brighton and Hove council have worked hard recently to combat homeless during the pandemic and partnered with local hotels to provide shelter for them.
What lies ahead for the future of Drinking and socialising in the streets of Brighton?