Business & Technology
UK high street chain warns over youth unemployment crisis
Lord Simon Wolfson, chief executive of the retail group Next, has blamed higher labour costs and slow growth in the UK economy for the shrinking of vacancies.
Next has stores in Oxford, with stores in the Westgate and Cowley Retail Park, as well as at the Orchard Centre in Didcot and Bicester’s Shopping Park.
Lord Wolfson told the BBC’s Big Boss Interview: “You can really see a dramatic fall in entry-level opportunities.
“In our stores just two years ago we had 10 applicants for every single job vacancy in our shops, that’s high.
“Today, that figure is at 19.
“I think that doubling of applicants for shop jobs is indicative of just how big the crisis is in youth unemployment at the moment.”
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Nearly one in six young people aged 16 to 24 were out of work in the first three months of 2026 – the highest level since 2015.
This comes as many retail shops are closing due to low profits.
Claire’s, Russel & Bromley, Dr. Martens, and Soletraders have all left Oxford in the pat year due to either the end of the company or to low sales in that particular store.
Lord Wolfson said the ‘tax on entry-level employment’ was partly behind the drop in opportunities, saying last year’s national insurance rate hike and increases to the national minimum wage had pushed up the cost of labour and “has to be reversed”.
But he said that “much more importantly” there needed to be more growth across the whole economy.
“If you’ve got fewer jobs, then the people who suffer the most are those with the least experience,” he said.
Chief executive, Lord Simon Wolfsom (Image: Next/PA Wire)
The retail boss, who is also a Conservative peer, also took aim at the Government’s Employment Rights Act which gives workers the right to guaranteed working hours over zero-hour or low-hour contracts.
New measures also coming into force next year will stop employers from rejecting flexible working requests without a valid reason.
He described the measures as “restrictions on flexible part-time working” and said “the result of that is we will offer fewer hours and (fewer) extra hours at Christmas”.
“That’s going to be bad news for our colleagues who want the extra hours, particularly students, and bad news for our customers because service won’t be as good,” he told the BBC.
The Oxford Youth Unemployment Hub runs from Monday to Friday at Rose Hill Community Centre.
The hub is run in partnership with the job centre, helping others with CVs, cover letters, and job searches.
The hub offers help and support for 16 to 25 year olds who are not in education, employment, or training.
Business & Technology
Rosa’s Thai is giving away 4000 free Pad Thais to students
Celebrating both GCSE and A-Level Results Days, the chain will offer the popular dish to students who buy one of its bubble teas.
The free offer is available at all 42 Rosa’s Thai restaurants across England and Wales.
To avail of the free noodles, students need to register on Rosa’s Thai website for a unique code, which they should present at the restaurant together with a copy of their results.
Rosa’s Thai has a new range of bubble tea flavours, including Ube-Taro, Matcha-Coconut, Mango Sticky Rice, and Milo Chocolate Milk, as well as favourites like Home-brewed Thai Tea with Tapioca, and Lychee Mango with mango boba.
Students can sign up for their free Pad Thai at rosasthai.com/result-day-free-pad-thai and find their nearest restaurant at rosasthai.com/locations.
Business & Technology
Historic coin company enters administration after 20 years
The London Mint Office, which distributes commemorative coins and medals, appointed administrators on July 31 after 20 years in business.
The company’s website now displays a message confirming the appointment of Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP as joint administrators.
A spokesman for Alvarez and Marsal said: “On July 31 2026, Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP were appointed as Joint Administrators of The London Mint Office Limited in administration (the “Company”).
“Regrettably, the Company’s liquidity challenges have led to a number of immediate redundancies. We are supporting the affected employees through the redundancy process.
What Happens When a Company Goes Into Administration?
“The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the Company and without personal liability.”
The announcement confirms that it is no longer possible to purchase coins or medals through the company’s website.
The London Mint Office operates a distribution centre in Tonypandy, Rhondda Cynon Taf, where it employs a significant number of people.
Administration is a formal insolvency process triggered when a business cannot meet its financial obligations.
An insolvency practitioner is appointed to manage the company’s affairs and may attempt to restructure the business or sell off assets to repay creditors.
What happens when a company goes into Liquidation?
Founded in 2006, The London Mint Office describes itself as “one of the UK’s most trusted suppliers of historic, commemorative, and collector coins.”
It is part of Samlerhuset AS, a Norwegian company based near Oslo and one of Europe’s largest distributors of commemorative coins and medals.
Samlerhuset’s website states that it offers “provide a wide range of coins from ancient to modern, originating from virtually every country in the world.”
The London Mint Office has advised anyone with an interest in the company’s assets to contact the administrators at INS_THLMOL@alvarezandmarsal.com.
Business & Technology
Warning of new rules for Aldi and Lidl after watchdog review
The Competition and Markets Authority (CMA) has provisionally decided that both discounters should be added to the Groceries Market Investigation (Controlled Land) Order 2010, which currently applies to Asda, Co-op, Marks and Spencer, Morrisons, Sainsbury’s, Tesco, and Waitrose.
This order is designed to prevent large grocery retailers from using land agreements to block competitors from opening nearby stores, often through restrictive covenants or exclusivity terms.
Juliette Enser, executive director of competition enforcement and markets at the CMA, said: “We want everyone to have the best choice of supermarket and range of prices when buying their groceries.
“To ensure this happens, we put rules in place to prevent big supermarket chains blocking rival stores from opening nearby – and now we propose applying those rules to Aldi and Lidl too.
“This is about allowing shoppers to choose where they spend their money and levelling the playing field for all major supermarkets.
“Today’s proposals are provisional and we welcome views before deciding the best way forward.”
The CMA’s review found that Aldi, Lidl GB, and Lidl NI now meet the criteria of ‘Large Grocery Retailers’ (LGRs) due to their store footprint, nationwide presence, procurement model, and the breadth of their grocery range.
Aldi and Lidl were originally excluded from the 2010 order as ‘limited assortment discounters’, offering a smaller selection of products compared to traditional supermarkets.
However, the CMA’s provisional findings indicate that this is no longer the case.
All three now operate large grocery stores, each with more than 1,000 square metres of shop floor space, and offer a full range of products, though with less category choice than some competitors.
They also purchase goods directly from suppliers through integrated wholesaling.
With the UK grocery market estimated to be worth £215 billion, Aldi and Lidl are now ranked among the top five retailers by market share.
The CMA is seeking feedback from stakeholders before reaching a final decision.
Aldi and Lidl could join the other supermarket chains later this year.
The CMA is inviting views until 5pm on Monday, September 7, 2026, and will issue its final decision in the autumn after reviewing responses.
If the discounters are included under the order, they will be prevented from using land agreements to limit competition from other supermarket chains.
The CMA aims to ensure competition across the grocery sector to give shoppers more choice and competitive pricing by removing obstacles to new store openings.
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