Supermarket giant Asda has put 261 jobs in the firing line over plans to axe a home delivery packing centre in North London (The Telegraph). Asda has been forced to close the site due to restrictions that meant it was unable to expand (The Daily Mail).

Hundreds more jobs are at risk in the retail sector after the administrator of Poundworld announced more shop closures and as Asda set out plans to close a warehouse. (The Times £)

Poundworld’s administrators have axed more than 500 jobs and closed another 40 stores as efforts to find a buyer for the business continue (The Telegraph). Poundworld is shutting a further 40 stores and axing 531 jobs as it teeters on the brink of disappearing from the High Street (The Daily Mail). Another 40 Poundworld stores are to close, the company’s administrators said on Tuesday, meaning that almost half of the discount chain’s estate is now in the process of shutting down (The Financial Times £). Poundworld had already announced plans to close 105 of its 335 stores, having failed to strike a rescue deal (The BBC).

Pemier Foods boss Gavin Darby failed to act on investment bank advice to sell the company’s Bachelors brand. The chief executive rejected the recommendation from the soup maker’s long-standing broker Credit Suisse, sparking a dispute with shareholders that has led to a bid to oust him tomorrow at its annual general meeting. (The Telegraph)

Shares in UK beer and pub group Greene King fell after analysts at Berenberg branded the company a “value trap” (The Financial Times £). Analysts at Berenberg said that underlying trading at the beer and pubs group “remains poor” that and profit was “likely to go backwards again” (The Times £). Greene King shares were unsteady on their feet after City analysts claimed the pub chain’s debt refinancing appears to be “destroying shareholder value” to “flatter” its finances (The Telegraph).

Investors in Diageo could be toasting a fresh cash return of at least £1.5 billion when the drinks group announces its full-year results next week, if analysts at Bernstein have done their sums right. (The Times £)

Everyday dairy products such as butter, yoghurt and cheese could become luxury items in Britain after Brexit, with price rises being caused by the slightest delay in the journey from farm to table, a report by the London School of Economics finds. (The Guardian)

Dairy Crest has been boosted by its leading brands, Cathedral City cheese and Clover spread. (The Daily Mail)

Shares in Casino were up as much as 3.75 per cent in early trade on Tuesday after the French supermarket reported that sales growth had accelerated in the second quarter and confirmed its guidance for the full year. (The Financial Times £)

Amazon workers in Germany went on strike on Tuesday, adding to the problems afflicting the company’s biggest annual promotional event following industrial action in Spain and website outages in the US. (The Financial Times £)

The high street crisis has eaten into the rental income of British Land after retailers closed hundreds of shops in order to survive (The Times £). The cost of restructuring deals with struggling retailers is beginning to mount for property company British Land amid “challenging” conditions on the British high street (The Telegraph).

Ocado boss Tim Steiner is the beneficiary of millions of company shares held in the tax-free Bahamas. Steiner has around £160million shares held in his own name in the business. However, he is also the beneficiary of a trust and a company both based in the Bahamas, company accounts show. (The Daily Mail)

Tesco has handed sharesworth £1.1million to Alison Horne, the boss who presided over pay increases and bonuses at Carillion in the run-up to its demise. (The Daily Mail)

Topics