Coronavirus: Caffe Nero hires KPMG to negotiate high street rent cuts & more…Keep up with the latest accountancy and finance news in our weekly news round-up…
Caffe Nero has become the latest high street coffee chain to seek rent cuts from landlords amid tough new restrictions that could hamper the hospitality sector’s recovery from COVID-19.
Ernst & Young reported Thursday that its global revenues grew 4.1% in the fiscal year ending June 30, 2020, despite the impact of the novel coronavirus pandemic.
The UK economy is unlikely to reach its pre-Covid level until early 2023, according the new forecasts. KPMG’s latest quarterly economic outlook forecasts UK GDP will plunge 10.3% for the year, downgraded from the 7.2% predicted in June.
Deutsche Bank’s asset management arm DWS has abandoned EY as its auditor as a result of the scandal at payments processor Wirecard, which collapsed in June following a €1.9bn fraud.
The Court of Appeal has dismissed any attempt by Grant Thornton to overturn a record £22.6m claim for damages brought by former client AssetCo over the firm’s failure to spot a fraud at the AIM listed company, which nearly collapsed as a result of an accounting scandal.