Costcutter are trying to woo Londis shopkeepers with a £30,000 incentive to join the York-based symbol group.
In a personal letter from Costcutter chairman and managing director, Colin Graves, Londis retailers are being offered £10,000 after just 4 weeks with Costcutter, followed by two further instalments of £10,000 if they sign a four-year contract with Costcutter.
The Londis shareholder action group has reacted unfavourably to the offer, claiming that this approach is not in the interests of all the shareholders. Adrian Costain, deputy chairman of the group described the Costcutter plan as: “divisive and not constructive to anyone.”
In a personal letter from Costcutter chairman and managing director, Colin Graves, Londis retailers are being offered £10,000 after just 4 weeks with Costcutter, followed by two further instalments of £10,000 if they sign a four-year contract with Costcutter.
The Londis shareholder action group has reacted unfavourably to the offer, claiming that this approach is not in the interests of all the shareholders. Adrian Costain, deputy chairman of the group described the Costcutter plan as: “divisive and not constructive to anyone.”
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