Finance news – Page 367
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NewsCatering butcher Nigel Fredericks ceases trading
Catering butcher Nigel Fredericks has ceased trading nine months after it was taken over by three former directors of Russell Hume.
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NewsMordue Brewery closes its doors after failing to find a buyer
North East-based craft brewer Mordue Brewery has collapsed into administration after failing to secure a buyer for the 24-year-old business.
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NewsZero-waste online supermarket Good Club raises £400k
Direct-to-consumer grocer Good Club has successfully raised £400k to underpin its ambition to become “the world’s first zero-waste online supermarket”.
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NewsCity snapshot: Brexit stockpiling to hit future UK economic growth
The British Chambers of Commerce has released its latest economic forecast, upgrading its growth expectations for the UK in 2019 but downgraded forecasts in 2020 and 2021. Plus, Tesco hosts capital markets day and all the rest of the latest news from the City.
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NewsMedia Bites 18 June: Alibaba, Black Sheep Coffee, Beyond Meat
Alibaba will hive off its fresh groceries business, Freshippo – known as Hema in Chinese – into a stand-alone business as part of a shake-up of its business units and top executives
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NewsBlack Sheep Coffee raises £13m to fund global expansion push
Independent coffee chain Black Sheep Coffee has raised £13m new funds from private investors to back its global expansion across Europe, Asia and the US.
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NewsBusiness rates reform bill ‘not drastic enough’ warn experts
A number of Conservative leadership hopefuls have pledged to scrap business rates for high street SMEs
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NewsSuperdrug profits slide amid ‘challenging’ conditions
Warm summer weather and growing sales of vegan goods drove a rise in annual revenues at health and beauty chain Superdrug last year, but profits fell back amid “challenging times” on the high street.
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NewsMedia Bites 17 June: Patisserie Valerie, Retail CVAs, Brexit
Patisserie Valerie’s new owner has laid bare the desperate state of the business it bought in January.
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NewsCharlie Bigham’s sales jump but profits slip into the red
Upmarket ready meals supplier Charlie Bigham’s has posted a £9.3m jump in annual sales in its most recent financial year, but investment in growing capacity sent the company into the red.
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NewsMeat alternatives to dominate global market by 2040, claims report
It suggests just 40% of the meat sector will be made up of conventional meat products by 2040
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NewsMidcounties Co-op eyes 80 new convenience store openings
The society currently operates 160 c-stores and has so far opened eight new stores this year
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NewsPost-Brexit export plan targets growth in the US and China
The Department for International Trade has also identified India and the UAE as key territories to ramp up exports
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NewsCity snapshot: UK readies US and China food export push
The US and China are being targeted in a major new government strategy to boost food and drink exports post-Brexit. Morrisons gains closer customer relationships through Amazon deal expansion, Charlie Bigham’s sees 19% growth but falls to a loss and all the rest of the latest news from the City.
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NewsMedia Bites 14 June: Tesco, Morrisons/Amazon, Majestic Wine
Tesco CEO Dave Lewis says the supermarket group faces challenges with soggy weather and consumer sentiment.
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NewsIceland reports 4.5% rise in sales as EBITDA falls back
Sales were boosted by a net increase of 43 stores
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NewsSpanish fine foods importer Mevalco doubles sales last year
A customer showroom and new kitchens are due to be completed in the autumn
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NewsMorrisons expands Amazon rapid delivery after relaxation of Ocado deal
Morrisons will gain more control as a retailer on Amazon’s site, rather than a wholesaler to the internet giant
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NewsDave Lewis warns of shortages in event of October no-deal Brexit
Tesco boss argued retailers will not have spare capacity due to Christmas planning
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NewsCity snapshot: Tesco first quarter growth slows amid 'subdued' market
Tesco is continuing to outperform a “subdued” UK grocery market, as its first quarter like for like sales rose 0.8% in the UK and Republic of Ireland. Plus, Majestic Wine confirms “advanced discussions” over the sale of Majestic Retail and Commercial businesses, M&S rights issue undersubscribed, PZ Cussons trading update and all the rest of the latest news from the City.