Finance news – Page 380
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NewsMajority of Jamie Oliver restaurants closed with loss of 1,000 jobs
KPMG confirmed all but three of the eateries had been closed, resulting in approximately 1,000 redundancies
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NewsCity snapshot: Annual losses balloon at Tate & Lyle Sugars
Losses ballooned at Tate & Lyle Sugars as the glut of sugar production in the EU following the end of quotas hammered prices and profitability. Plus, annual losses at parent and young children specialist retailer Mothercare rose to £87.3m last year and all the rest of the latest news from the City.
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NewsMedia Bites 24 May: B&M, Sainsbury's/Asda, Casino
The chief executive of value retailer B&M has played down speculation that the company might attempt a reverse takeover of Asda
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NewsLeon expansion behind loss despite 25% sales jump
Leon cited concerns about rising business rates, wages and food inflation as well as uncertainly surrounding Brexit
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NewsDanish Crown sees benefits of boost in pork exports to China
Danish Crown pointed to the ‘unprecedented recovery’ in the pork market in recent months
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NewsFrieslandCampina promotes Will Jones to MD
Jones was the supplier’s grocery and marketing director after joining in 2015 from travel business TUI
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NewsStore openings boost annual growth at B&M Bargains
B&M Bargains owner BME European Value Retail has delivered another “strong” annual performance with a double-digit rise in sales and underlying earnings.
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NewsMedia Bites 23 May: M&S, Pret A Manger, Jamie Oliver
The papers digest Marks & Spencer’s drop in annual profits, the acceleration of its store closure programme and its share price plunge after revealing detailers of a discounted fundraising.
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NewsPret a Manger acquires rival Eat to expand Veggie Pret estate
The acquisition will see Pret gain another 90 stores across the UK
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NewsCofresh Snack Foods acquires £20m second site in Nuneaton
The new facility will be dedicated to healthier snack brand Eat Real
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NewsM&S announces £600m discounted rights issue to fund Ocado JV
Marks and Spencer has announced a £600m rights issue to fund its joint venture with Ocado as it reveals a 10% drop in pre-tax profits and a 3% drop in annual revenues.
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NewsMedia Bites 22 May: Jamie Oliver, Majestic Wine, WH Smith
Food industry ambassador and celebrity Chef Jamie Oliver’s restaurant chain has collapsed into administration and all but three of its 25 venues have closed.
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News2 Sisters set to close another poultry site as part of restructure
The move is the latest in a bid to turn the poultry giant’s fortunes around
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NewsSainsbury's to introduce incubator bay for small suppliers
The move appears to be the next phase of Sainsbury’s Future Brands initiative
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NewsCity snapshot: WH Smith CEO Stephen Clarke steps down
WH Smith chief executive Stephen Clarke has decided to step down at the end of October after 15 years with the company. Plus, trading updates from Cranswick, Greencore, Hilton Food Group, Tesco stops mortgage lending and all the rest of the latest news from the City.
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NewsMedia Bites 21 May: Majestic Wine, Coca-Cola HBC, Petrol prices
OpCapita, the controversial former owner of Comet, is among investors circling Majestic Wines’ 200-strong store portfolio
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NewsOcado set to cut 400 jobs after Andover fire
Ocado has put up to 400 jobs at risk at its Andover warehouse after failing to find an alternative site nearby and admitting it will take two year to rebuild.
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NewsMedia Bites 20 May: M&S, Ocado, Just Eat/Amazon
M&S profits dive amid chairman Archie Norman’s scramble to close stores, writes The Times.
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NewsLily's Kitchen vows to double sales of its petfood globally
Premium petfood brand Lily’s Kitchen is plotting a huge exports push to double its international sales this year and break into the Asian and Middle East pet care markets.
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NewsFood and drink deal volumes drop amid Brexit nervousness
Deal volumes dropped 19% from the fourth quarter of 2018 to 47 completed deals in the first quarter of 2019