Bestway news and analysis – Page 8
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NewsExclusive: Bestway set to acquire Conviviality Retail in £7.25m pre-pack deal on Monday
Wholesaler’s intervention looks to have saved 2,000 jobs, in knockdown deal set to be rubber-stamped next week
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NewsConviviality franchisees still in the dark about their future
Despite parent company Conviviality falling into administration, the retail business continued to trade as a going concern
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NewsCity snapshot: Conviviality confirms C&C Group wholesale deal
Conviviality put out a statement after hours confirming it had sold its Conviviality Direct business to C&C Group after putting the division into administration with PWC. Plus, Ahold Delhaize CEO to step down and all the latest news from the City.
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NewsC&C Group completes Matthew Clark and Bibendum rescue
Magners owner C&C Group has completed a deal to assume full ownership of the Matthew Clark and Bibendum wholesale businesses belonging to beleaguered Conviviality.
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NewsC&C Group in talks to buy Conviviality's Matthew Clark and Bibendum
C&C Group, with the support of AB InBev, is in advanced talks to buy Matthew Clark and Bibendum from stricken Conviviality for a nominal sum.
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Comment & OpinionConviviality receivership marks another wholesale tragedy
Investors were being asked to risk more money for Conviviality while having zero visibility about future leadership
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Analysis & FeaturesAs Conviviality administration looms, who are the likely buyers?
Sources close to the situation claim numerous suitors have expressed an interest
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NewsCostcutter rejected Bestway proposal after Co-op deal
Sources close to both parties told The Grocer this week that Bestway approached Costcutter in December
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NewsCity snapshot: Conviviality files notice to appoint administrators
Conviviality has announced the board intends to appoint administrators within 10 business days, GfK’s Consumer Confidence Index increased three points in March and all the other news from the City
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NewsConviviality on the brink after failing to raise £125m
Shareholders expected to receive “little-to-no value”
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NewsConviviality service levels drop ahead of crucial Easter weekend
Service levels in the crucial run up to Easter now as big a concern as cash flow, sources claim
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NewsMedia Bites 27 March: Casino, Amazon, Conviviality
French supermarket giant Casino has signed a distribution deal with Amazon
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NewsCity snapshot: Conviviality seeks £125m from investors to save the business
Conviviality has announced an equity placing to raise £125m in a bid to recapitalise the business – without which it said it was “unlikely” to be able to continue. Plus on a busy day in the City, Produce Investments back in profit, protein woes weigh on 2 Sisters, Reckitt pulls out of Pfizer talks and all the rest of the news from the City.
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NewsDiana Hunter steps down as Conviviality CEO
She has resigned with immediate effect, while non-executive chairman David Adams has stepped into the role of executive chairman
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NewsBestway credits soaring profits to Best-one performance
Bestway credits soaring profits to Best-one performance
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Comment & OpinionWhy has Conviviality spent out on company-owned stores?
The flotation of Conviviality on the stock market in 2013 was one of the most unlikely events in the history of grocery
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Analysis & FeaturesCan Conviviality recover from its week of woe?
A surprise profit warning, arithmetic errors, unexpected tax bills. The booze giant has a struggle on its hands.
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NewsCity snapshot: Conviviality explores equity fundraising to plug financial hole
Beleaguered booze retailer and wholesaler Conviviality has issued another market update to attempt to reassure the City, this time suggesting it is exploring an equity fundraising to plug the hole in its balance sheet.
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NewsConviviality faces fight for survival in cash crunch
Booze giant Conviviality faces a battle for survival after a week of turmoil that saw more than £350m wiped from its value and PwC called in for help.
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NewsConviviality calls in PwC after unexpected £30m tax bill
The ailing booze giant is to meet with HMRC and key stakeholders