Restructures and receiverships news & analysis – Page 10
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WH Smith to cut up to 1,500 jobs after coronavirus sales slump
The group said the costs associated with its restructure will be in the region of £15m-£19m
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Wales-based foodservice supplier falls into administration
A foodservice supplier to the likes of Domino’s Pizza, Wagamama, Mitchells & Butlers and P&O Ferries has collapsed following the UK-wide shutdown of the hospitality industry during the Covid-19 outbreak.
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Shopping centre giant Intu falls into administration
The owner of the Trafford Centre and Lakeside shopping centres has filed for administration after being unable to reach a refinancing deal with its lenders.
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B&M offers hope to workers affected by Poundstretcher restructure
Poundstretcher’s rapidly growing rival said it wanted to hear from people affected by redundancy or restructures
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More than half of Poundstretcher’s estate at risk as company launches CVA
KPMG has confirmed that the fate of 253 of Poundstretcher’s 450 stores is dependent on their performance and landlord co-operation in the coming weeks
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Poundstretcher to ‘close a quarter of stores’ following review
The high street discounter has already closed around 30 stores during lockdown, in some cases permanently
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City snapshot: Restaurant Group to close 125 Frankie and Benny’s sites via CVA
The Restaurant Group has announced its intention to close 125 Frankie and Benny’s restaurants and seek rent reductions for a further 85 sites after instigating a company voluntary arrangement.
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Bakkavor jobs at risk as supplier plans changes at Lincolnshire base
The prepared foods giant has revealed plans for major operational changes at the site, where it operates two salads factories, two meals factories and a distribution centre.
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Adelie Foods rescue deal scuppered by competition concerns
The Grocer understands listed food-to-go giant Greencore had agreed a deal to take on Adelie as a going concern
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City snapshot: Greencore rescue package for Adelie scuppered by competition concerns
Competition concerns scuppered a rescue deal for the UK’s third-largest sandwich maker Adelie Foods resulting in its collapse and the loss of almost 2,200 jobs.
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Adelie Foods ceases trading as rescue talks fail
The UK’s third-largest sandwich maker has permanently ceased trading after its administrator was unable to secure a swift rescue package
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Adelie food-to-go customers up for grabs as it enters administration
The UK sandwich market is set for further consolidation into a duopoly after number three player Adelie fell into administration this week
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Deloitte seeks buyer for Adelie as it falls into administration
Adelie has appointed administrator Deloitte after its business was hammered by the widespread closure of food-to-go outlets
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Boparan seals deal to buy Carluccio’s from administration and save 800 jobs
Boparan Restaurant Group, the casual dining arm of 2 Sisters owner Boparan, has agreed a deal to rescue Italian chain Carluccio’s from administration and safeguard 800 jobs.
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Avara Foods announces plan to close duck division
The poultry giant said the viability of the the former Cherry Valley Foods division had been ’seriously undermined’
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Premier Foods shares rise on ‘elegant’ pensions restructure and coronavirus sales boost
The Mr Kipling producer revealed the results of its year-long strategic review on Monday…
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City snapshot: Premier Foods completes strategic review with pensions restructure
Premier Foods reaches “transformational” agreement with its pensions schemes, completing the strategic review announced over a year ago
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Government considers calls to underwrite trade credit insurance
The government is considering requests from food and drink leaders and the wider insurance industry to underwrite trade credit insurance
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Meat wholesaler enters administration as coronavirus crisis bites
The coronavirus crisis proved the nail in the coffin for beleaguered Star Meats
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Haulage companies on the brink following collapse of foodservice
A third of all food trucks are off the road, according to a recent survey by the Road Haulage Association.