Business news in brief
Royal Mail issues customer warning after cyberattack
Royal Mail is asking customers to avoid posting items overseas while it investigates a cyberattack. The company said it was experiencing “severe disruption” to its international export services and is temporarily unable to dispatch items overseas, with no estimate on when the incident might be resolved. The attack is suspected to have come from a Russian-linked ransomware gang called Lockbit, which was also behind a major hack of car dealership Pendragon last year in which it demanded $60m (£49m).
Cash withdrawals up £4bn on last year
Banking customers withdrew £83bn from cash machines last year, according to ATM network Link. It is up on the £79bn withdrawn in 2021 but well below the £115bn withdrawn in prepandemic 2019. The average total value of ATM withdrawals per person over 16 in the UK was £1,564 last year according to Link, which used Office for National Statistics population data to make the calculations. More than 150 community free-to-use ATMs have been installed by Link. Graham Mott, its director of strategy, said: “While many people are now happy to use contactless or digital payments, our research shows there are very few people that are completely cashless.” PA
Matalan takes control from founder
Lenders are to take ownership of Matalan in a deal that will end founder John Hargreaves’ control of the retailer. A group of lenders, led by Invesco, Man GLG, Napier Park and Tresidor, have sealed a debt-for-equity swap to take the reins of the fashion business. Mr Hargreaves, who founded the company in 1985, attempted to put a bid together with Elliot Advisers to regain control. The lenders said they have cut the group’s debt by £257m to £336m as part of the deal. Matalan said sales grew by 14.6 per cent over December but warned recent profits have been “adversely affected” by the downturn. PA
Just Eat to deliver Sainsbury’s orders in 30 minutes
Sainsbury’s will tap into Just Eat’s network of thousands of riders by the end of next month as it starts offering deliveries through the app. Customers of 175 Sainsbury’s shops across the UK will be able to order milk and other products through the Just Eat app, have a rider collect their order and get it delivered within half an hour, Just Eat said. There will be more than 3,000 products available for delivery, and the companies hope the partnership will expand to other locations before the end of the
year. Rivals that focus purely on groceries, such as Turkey’s Getir or Germany’s Gorillas have become common sights on the streets of London since the pandemic. PA
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