Restructures and Receiverships – Page 10
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NewsMore 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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NewsPoundstretcher 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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NewsCity 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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NewsBakkavor 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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NewsAdelie 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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NewsCity 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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NewsAdelie 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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NewsAdelie 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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NewsDeloitte 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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NewsBoparan 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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NewsAvara 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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NewsPremier 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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NewsCity 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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NewsGovernment 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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NewsMeat wholesaler enters administration as coronavirus crisis bites
The coronavirus crisis proved the nail in the coffin for beleaguered Star Meats
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NewsHaulage 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.
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NewsRestaurant chain Carluccio’s falls into administration
The Italian restaurant chain has entered administration, becoming the first major casual dining casualty of the coronavirus lockdown
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NewsCity News: Investors heed SSP Group’s call for £216m of emergency cash
Travel food specialist SSP Group was forced to tap shareholders for £216m of emergency cash this week to try to overcome a collapse in sales as the coronavirus outbreak halts travel.
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NewsCoronavirus: Crisis talks as food & drink companies struggle to access bailout cash
Food and drink leaders are in crisis talks with the Treasury over fears hundreds of companies face going out of business as they struggle to access bailout cash pledged by the government last week
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NewsSeafood businesses close as coronavirus hits exports
Falling demand and air freight cancellations are proving disastrous for British fisherman