Retail round-up: Lush moves staff from Britain to Germany after Brexit vote and Elliott Capital ups stake in discount retailer Poundland.
Lush shifts staff to German factory after Brexit referendum
Cosmetics company Lush is shifting its staff from Britain to Germany due to the uncertainty caused by the EU referendum, Reuters reports.
The UK retailer, which makes cosmetics by hand, said nine of its staff have already relocated from Britain to its Dusseldorf factory, where it has accelerated plans to boost production, while another nine would move today.
Any staff keen to move will be offered roles this week, the retailer said.
"Many of our staff still have uncertainties about what the Brexit deal will mean for them and continue to wait anxiously for this to be revealed,” Lush said in a statement.
US hedge fund Elliott Capital increases stake in Poundland
US hedge fund Elliott Capital has upped its stake in discount retailer Poundland to reach 22.7%, Reuters reports.
The move could come as another blow to South African conglomerate Steinhoff, which increased its agreed bid for Poundland to £610m, challenging the activist investor to support the deal or risk its collapse.
MPs to lobby M&S over petition against planned changes to staff pay
MPs and fair pay campaigners are to lobby Marks & Spencer at its flagship Marble Arch store in London following a Change.org petition against planned pay cuts gathered almost 90,000 signatures.
Labour MP Siobhain McDonagh, who raised the issue in Parliament in June, will lead a delegation to present the clothing retailer with petition.
Shop staff say they face pay cuts that could potentially cost thousands of pounds after M&S proposed scrapping premium pay for working Sundays, antisocial hours and bank holidays and changes to pensions payments.
In Parliament, McDonagh called on the Government to close loopholes that make it possible for companies to make changes to staff benefits in order to offset the impact of the National Living Wage of £7.20 per hour, introduced in April.