Tesco is axing its chain of low cost stores and shutting more than 300 deli counters in a major shake-up (The Mail).
Tesco has pulled the plug on Jack’s, its budget food chain, after it failed to take on the German discounters Aldi and Lidl (The Telegraph).
Six of the 13 Jack’s shops will be converted to Tesco superstores and staff will be offered in-store roles (The Times £). The remainder will be closed in the coming months.
Britain’s biggest grocer opened the first Jack’s stores – named after the supermarket’s founder, Jack Cohen – in September 2018, in Chatteris in Cambridgeshire and Immingham in Lincolnshire, with a promise to be “the cheapest in town” (The Guardian).
UK food and drink firms say they remain concerned about supply shortages as a deal which ensured carbon dioxide supplies comes to an end (BBC News).
UK food producers and brewers have warned of shortages of meat, beer and fizzy drinks, as well as higher prices, after the government opted not to renew support for the carbon dioxide industry (The Guardian).
Co-op shop floor workers have won a key legal argument in a battle to secure equal pay with warehouse staff (BBC News).
Drinks giant Diageo is to open a Guinness microbrewery in London with £73m investment hailed as ‘vote of confidence’ in the capital (The Mail).
Diageo’s plans for the microbrewery and “culture hub” in Covent Garden will create 150 jobs and a community space (The Times £).
The Tempus shares column in The Times (£) turns its attention to Diageo, concluding the stock is a ‘buy’. “A reliable performer in a competitive industry, and the shares will repay patience as supply constraints recede.”
Proposed changes to alcohol duty will lead to higher prices and less choice for wine drinkers, the owner of wine merchant Laithwaites has warned (BBC News).
The Guardian has a feature about ‘the hidden life of a lorry driver’ in winter.
Another feature in The Guardian examines how the ‘cost of living crisis’ is hitting UK businesses.
Shares in French supermarket operator Casino fell 14% on Monday after the retailer warned that its annual profit would be lower than expected as the recent Covid-19 surge dented demand (The Financial Times £).