Lloyds Pharmacy is closing all 237 of its outlets in Sainsbury’s supermarkets amid fears of insufficient government funding for the industry (The Guardian). Lloyds Pharmacy is to pull out of 237 in-store Sainsbury’s branches, potentially putting more than 2,000 jobs at risk and exposing the financial pressure on UK pharmacies at the height of the NHS crisis (Sky News). Lloyds Pharmacy will close 237 of its outlets in Sainsbury’s this year, putting more than 2,000 jobs at risk (The Times £). Boss Kevin Birch blamed ‘changing market conditions’ and promised a ‘smooth transition’ (The Daily Mail).

Premier Foods plans to close its own-label powdered drinks products factory at Knighton in Adbaston, Staffordshire, putting 300 jobs at risk (The Daily Mail, The Times £). Premier Foods said on Thursday morning that the site in Knighton, Staffordshire, had become unprofitable and would be shut by the middle of 2023 (Sky News).

After a positive quarterly trading update, Deliveroo was described by one analyst as “bounding into profitability” after reaching break-even a year ahead of schedule, prompting material upgrades to consensus expectations for this year and beyond (The Times £). Deliveroo’s underlying earnings reached breakeven levels across all operations in the second half of last year, helping the firm to lift full-year guidance (The Daily Mail).

Argos will shut all of its stores in the Republic of Ireland in June this year, the company said on Thursday, following a “period of careful consideration”. The move is expected to result in 580 employees losing their jobs and the closure of 34 sites across the country. (Sky News)

British luxury brand Hotel Chocolat plans to open 50 new shops in the UK after enjoying its best Christmas shop sales since it was founded nearly 20 years ago. (The Financial Times £)

Consumer confidence fell to near-record lows at the start of 2023 as households looked to cut spending on costly items amid high inflation. (The Times £)

The casualty rate for pubs and restaurants in the pandemic is being matched by hospitality sector failures because of inflation, research suggests. (The Times £)

The price of takeaway coffee has been thrown into the spotlight after Jeremy Hunt released a video that used paper cups as a prop to explain the December inflation rate of 10.5% to the public. “I’m afraid coffee is getting more expensive,” he said, adding it was “nearly £3 a cup”. (The Guardian)

A new class-action lawsuit in the US alleges Coca-Cola and Simply Orange Juice deceived customers with claims of an all-natural, healthy product when the juice has been found to be contaminated with toxic PFAS at levels “hundreds of times” above federal advisory limits for drinking water. (The Guardian)