Finance news – Page 226
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NewsPoundstretcher future in doubt as accounts reveal slump in profits
Owner Aziz Tayub said the future of the variety discounter hinged on cost reductions
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NewsCraft soft drinks startup Gunna raises over £250k to survive coronavirus crisis
The cash will be used to ‘bridge’ the business to its next round and provide working capital to deal with the coronavirus pandemic
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NewsMiso Tasty passes £350k Seedrs target despite coronavirus uncertainty
Financial experts had advised Miso Tasty to ‘pull the campaign down and try again once the impact of the coronavirus had slowed down’
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NewsCity snapshot: Hilton Food Group annual revenues surge as it reassures on coronavirus preparedness
Hilton Food Group has posted a double digit rise in annual revenues on strong volume growth, while reassuring the market it is well positioned to cope with the challenges caused by the coronavirus outbreak. Plus, WH Smith raises £166m from shareholders as it warns of hit from store closures and all the rest of the latest news from the City.
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NewsMedia Bites 7 April: Waitrose, Government loans, White Rabbit Pizza
Waitrose reverses self-isolation policy for staff, high street banks blame the government for delays in the small businesses loan scheme and White Rabbit Pizza sees demand surge
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NewsCoronavirus: Challenger brands warn of further sales slump amid social distancing rules
Challenger brands are bracing for a further retail sales slump as social distancing rules implemented in supermarkets have focused shoppers on well-known brands
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NewsPolicy U-turn in Wales hits supermarkets with £80m business rates bills
The Welsh government changed its mind on replicating Chancellor Rishi Sunak’s plans
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NewsFoodservice wholesalers sell direct to consumers through new website
Foodservice Online is one of the FWD’s service provider members
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NewsMcColl’s links with Deliveroo to offer first home deliveries
Source: Deliveroo A range of essential items will initially be delivered from 120 McColl’s stores The range will include food and drink, toiletries, cleaning products, beer, wine and magazines All deliveries will be contact-free to ensure the safety of customers ...
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NewsCity snapshot: WH Smith to tap investors for cash as coronavirus crisis escalates
WH Smith secured new lending facilities of up to £120m to strengthen its balance sheet during the coronavirus crisis while it prepares to raise extra cash via equity raise
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NewsMedia Bites 6 April: Rates relief, Tesco, High Street
Rivals retailers are demanding that supermarkets hand back £3bn business rates relief.
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NewsNew data shows shoppers still ‘frequently’ visiting grocery stores
12% of all shoppers said their primary motive for visiting a shop was to ‘stock up for the longer term’
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NewsGreencore and Bakkavor’s food to go businesses savaged by coronavirus outbreak
While the supermarkets have experienced unprecedented levels of demand and sales growth in the midst of the coronavirus outbreak, the demand mechanics for two key listed grocery suppliers have been rather more mixed.
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NewsNestlé Purina to run £100m Lily’s Kitchen at arms length to ‘preserve premium credentials’
Premium petfood brand Lily’s Kitchen will continue to be run separately from global giant Nestlé Purina to “preserve [its] premium credentials” after being snapped up in a deal thought to be worth over £100m.
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NewsSMEs welcome government loan scheme revamp but warn of unanswered issues
Food & drink SMEs have welcomed the revamp to the government emergency loan scheme, but warned there remain issues to be ironed out
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NewsCoronavirus: Challenger brands launch website to offset sales collapse
Andrew Allen, Snaffling Pig co-founder and Biff’s partner, started the list of small suppliers last week
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NewsMedia Bites 3 April: Morrisons, GDPR rules, High Street
Morrisons has rewarded its staff working under the extreme conditions caused by the coronavirus outbreak by trebling their bonuses.
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NewsCity snapshot: Chancellor revamps coronavirus emergency loans programme
The Chancellor Rishi Sunak has announced a revamp of the government’s emergency loan measures to struggling SMEs by relaxing the criteria for eligible businesses and raising the limit on the size of companies that can apply. Plus, ABF leadership take pay cuts and all the rest of the latest news from the City.
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NewsStartups still reporting cash raises despite coronavirus
Nix & Kix, Big Drop Brewing and Different Dog are among recent success stories
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NewsCoronavirus: Young Foodies urges PM to step up support for challenger brands
Young Foodies has sent an open letter to Prime Minister Boris Johnson urging the government to increase support for challenger brands or risk losing a “vital part of the food & drink industry”