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BUSINESS CLOSE: Wetherspoon reports record loss; AO World hit by drivers shortage


The FTSE 100 has ended the day down 0.8 per cent, or 59 points, to 7,027, while the FTSE 250 shed 55 points, or 0.2 per cent, to 22,975.

In company news, JD Wetherspoon has been struggling to recruit staff in some parts of England, the pub group said today as it unveiled its biggest ever loss on record for last year. 

Online electricals retailer AO World’s shares tumbled 20 per cent after it reported lower-than-expected sales and warned of a squeeze on profits due to a shortage of lorry drivers and supply chain disruption. 

Meanwhile, the energy price cap kicked in today, leaving millions of households paying out more for their monthly gas and electricity bills.

The hike comes at a difficult time for many, amid the end of the furlough scheme, a cut to Universal Credit, supply chain disruptions and creeping inflation.  

> If you are using our app click here to read Business Live  

Energy prices are on the rise as the UK regulator appoints a special administrator in anticipation of the collapse of major suppliers 

247newsaroundtheworld



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