Restructures and Receiverships
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NewsSauce Shed ceases trading ahead of winding-up hearing
It leaves claimants potentially unable to recover funds they claim to be owed by Sauce Shed for failing to deliver on its contracts
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NewsMorrisons puts 80 more jobs at risk in latest restructure
It is the fifth round of redundancies at Morrisons this calendar year as part of Rami Baitiéh’s turnaround plan
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NewsPlanet Organic losses narrow after year of ‘significant improvement’
The turnaround marked ‘a really good effort’, MD Mark Broomfield told The Grocer
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NewsNestlé agrees $1bn sale of vitamins, minerals and supplements business
Nestlé has sold off the greatest part of its vitamins, minerals and supplements (VMS) business in a $1bn (£0.7bn) carve-out
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NewsKosher bakery State Fayre to return after phoenix sale
The bakery was sold out of insolvency to a former director, preserving 25 jobs
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NewsMorrisons cut 5,000 jobs last year amid losses of nearly £1bn
It followed a restucture of Morrisons’ Rathbones Bakery and the ending of newspaper deliveries from stores
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Comment & OpinionSustained growth for Diageo is the real test for Dave Lewis
Nine months into the CEO job at Diageo, ‘Drastic’ Dave Lewis has applied a familiar strategy
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NewsRanjit Boparan strikes Muscle Food rescue deal to add to meat empire
Boparan Private Office acquired the business and assets of Muscle Foods Ltd from administrators at insolvency firm Mackay Goodwin
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NewsTreasury Wine Estates profits slump amid US write-off
The group’s overhaul of its US business – including the closure of vineyards and brands, and the disposal of inventory – made up the greatest part of the write-offs
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NewsMorrisons losses hit nearly £1bn despite sales growth
Morrisons blamed unexpected ‘headwinds’ to the tune of £200m in costs from Rachel Reeves’ autumn 2024 budget, and the impact from a cyberattack which crippled its supply chain in the run-up to Christmas 2024.
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NewsIceland growth prospects boosted after €600m debt refinancing deal
Iceland was forced to look abroad to refinance its debt as Sterling Capital Markets ‘weren’t there’, Richard Walker said
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NewsMuscle Food collapses as lender loses faith and customers complain of ‘rancid’ meat
Muscle Food has been forced into administration following loss of confidence from lender, mass delivery disruption and customer complaints about rotting meat
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News‘The numbers no longer worked’: Myth Drinks founder shutters brands
The founder of non-alcoholic spirits brand Myth Drinks has shuttered the brand after six years, after US tariffs locked it out of its core market
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NewsHovis board departs as Allied eyes overhaul
Allied Bakeries has cleared out Hovis’ remaining board members following the completion of the takeover last week. It comes as the latest accounts for Hovis revealed tumbling volumes and ballooning pre-tax losses
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NewsAsda restructures commercial team following job cuts
It has seen job roles widened, as well as the adoption of new titles across the buying team at Asda House
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NewsJollyes sales grow after ‘ambitious’ store and range investment
Jollyes is in the midst of an ambitious expansion plan to double its store estate over the next five years
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Analysis & FeaturesCo-op’s talent exodus: how can it navigate out of its crisis?
Amid fresh departures, questions swirl over Co-op’s new strategy and structure, leadership, performance and corporate governance
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NewsMorrisons reopening Market Street counters after customer feedback
The supermarket closed 70 of its meat and fish counters last year, but it’s now putting them back into stores after feedback from customers
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NewsAsda to cut 150 head office jobs to fuel turnaround plan
Asda is cutting 150 jobs across its Leeds head office, as it rushes to cut costs to fuel its turnaround plan
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NewsPoundstretcher closing major store in Powys as landlord serves notice
Landlords of more than 100 stores were given the option to exit leases when Poundstretcher’s restructure plan was approved by High Court earlier this month