Finance news – Page 229
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NewsFood industry calls on government ‘War Room’ to encourage food makers to return to work
The Grocer understands about 20% of factory workers for one major supplier are currently opting to stay at home
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NewsGreengrocer Reynolds reports 95% drop in business
The pandemic has seen its foodservice and out-of-home customers shut down their operations
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NewsClosed retailers pressure shopping centres to shut too, threatening supermarket stores
Shops ordered to close by Boris Johnson are refusing to pay shopping centre service charges
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NewsCity snapshot: Intu misses out on rents as shopping centres shut
Intu received barely 29% of rents due on its UK properties as most retailers turned down the shutters due to the coronavirus pandemic. Plus, Casino posts annual profits growth, UK retail sales slow in February and all the rest of the latest news from the City.
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NewsMedia Bites 26 March: Supermarkets/coronavirus, Retail rents, SSP Group
Britain’s supermarkets have admitted they cannot cope with the sharp increase in demand for online food ordering and said customers who are able to will have to keep shopping in stores.
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NewsCoronavirus: EISA calls for tax relief threshold increase to boost investment in SMEs
The Enterprise Investment Scheme Association is urging the government to ramp up tax benefits for investors in SMEs
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NewsCoronavirus: produce sector warns of May labour ‘crunch point’
The news comes despite 8,000 applications from British workers in recent days
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NewsAsda and Tesco become latest retailers to limit customer numbers in stores
Asda said it would be placing colleagues at the front of stores to “limit the number of customers” coming in
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NewsSainsbury’s moves to immediate supplier payments
The supermarket said support would also be available to suppliers in financial distress as a result of the ongoing uncertainty
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NewsCity snapshot: SSP braces for £135m coronavirus revenue hit
As travel halts across Europe and Asia, SSP Group expects group revenues to fall between £125m and £135m
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NewsMedia Bites 25 March: UK supermarkets, Pharmacies, Retail sector
Supermarkets start introducing measures to protect customers and staff, pharmacies urge shoppers to only buy what needed while the coronavirus outbreak batters an already weakened retail sector
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NewsSpecialist pate makers Patchwork and Pyman to merge
North Wales-based Patchwork Pates and Devon-based Pyman Pates are to merge to scale up and meet demand for premium British pates and meat-free alternatives.
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NewsCoronavirus: DTC meal kit businesses report record demand
DTC recipe kit providers have been forced to turn down new customers as they grapple with ‘unprecedented’ levels of demand
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NewsUnilever offers €500m relief to suppliers and customers, donates hygiene products
The consumer goods giant will give early payments to the most vulnerable small and medium-sized suppliers
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NewsFood and drink M&A deals on hold as coronavirus outbreak freezes market
Sale processes - including that of MPM Products - have been put on hold as the coronavirus outbreak hits market confidence
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NewsB&M, Home Bargains, Poundland remain open due to food ranges
B&M, Home Bargains, Poundland and Poundstretcher continue to trade today thanks to their food ranges
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NewsWaitrose sets limit on number of people allowed in stores
The retailer will also introduce dedicated marshals for each outlet to help to manage queues outside
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NewsCoronavirus: Europe eases border strains on supply chains
New guidelines issued on Monday seek to ease the border delays that strained supply chains last week
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NewsCity snapshot: McColl’s reassures the market on financial strength
McColl’s has issued a business update regarding the deepening COVID-19 crisis, reassuring the City that it has the “financial and operational flexibility” to deal with prolonged disruption. Plus, Waitrose introduces new coronavirus measures, trading updates from Applegreen, Cake Box, Wynnstay, a new CFO for Greencore and all the rest of the latest news from the City.
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NewsMedia Bites 24 March: Supermarkets/coronavirus, Retail closures & rents, Food wholesalers
Demand for workers to fill jobs in supermarket warehouses has surged by a third as internet shopping booms.