Finance news – Page 71
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NewsOrchard House creditors left £56m out of pocket, report shows
Private equity-backed juice and fruit business owed trade suppliers £21.1m and another £7m to its employees
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NewsMorrisons boss hails gathering momentum as sales turn positive
Morrisons has halted declining sales in its first quarter, with CEO David Potts declaring that ‘momentum in the business is now building’
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NewsBrewDog CEO James Watt seeking the next $1bn unicorn brands
James Watt partners with Crowdcube to launch new investment model that aims to create ‘the next generation of unicorns’
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NewsPlanet Organic halts supplier orders as it focuses on survival
Planet Organic suppliers have reported a temporary suspension of orders by the troubled supermarket chain as it works on a deal to secure its future
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NewsCity snapshot: Supermarket Income REIT grocery portfolio value drops by £250m amid rising rates
Supermarket property investor Supermarket Income REIT has seen the value of its portfolio drop by almost £250m over the past six months amid rising UK interest rates
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NewsMedia Bites 30 March: Asda, Tesco, pork scandal
Annual results from Asda make headlines this morning as the supermarket’s profits slide in first full year of Issa brothers’ ownership.
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NewsIntimate female care brand Luna Daily raises £2m as it launches into the US
Luna Daily, the intimate body care brand, has closed a £2m investment round as it scales up to enter into the North American market
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NewsJames White Drinks expands health shot offering with BumbleZest acquisition
The group behind the Big Tom and Beet It juice brands has snapped up functional shot producer BumbleZest for an undisclosed sum
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NewsTroubled Farmison seeks buyer or cash injection
The private equity owner of premium online meat retailer Farmison is seeking a buyer or new financing for the lossmaking business
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NewsIceland Foods converting chiller cabinets in Food Warehouse stores to cut energy costs
Iceland is working with The Bond Group to convert open chillers to doored fridges in 150 Food Warehouse stores
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NewsMedia Bites 29 March: EG Group/Subway, Planet Organic/Waitrose, Diageo
The owners of Asda are said to be planning an £8bn takeover of Subway
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NewsCity snapshot: Chapel Down sales fizz as it shifts record volumes of premium sparkling wine
English wine maker Chapel Down has registered a record year as sales of traditional method sparkling wine boomed.
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NewsWaitrose pulls out of talks to invest in Planet Organic
The supermarket chain ended talks last week over an investment of millions of pounds in return for a sizeable stake in the rival grocer
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NewsBoots posts double-digit growth after strong Christmas sales
Pharmacy chain Boots has posted double-digit growth in its second quarter, driven by strong Christmas trading and beauty sales
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NewsOcado Retail sales edge up on pricing and increased customer numbers
The online retailer’s first quarter revenues were up 3.4% year on year to £584m
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NewsDiageo names Debra Crew as new CEO as Ivan Menezes steps down
Menezes has decided to retire on 30 June 2023 after 10 years running the spirits giant, to be replaced by current COO Crew
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NewsCity snapshot: Grocery price inflation hits new high of 17.5%
Grocery price inflation reached a new high of 17.5% over the four weeks to 19 March, costing households an additional £837 on their annual supermarket bills. Plus, Diageo names new CEO, Ocado Retail sales edge up in first quarter, AG Barr posts strong annual growth amid margin compression and all the rest of the latest news from the City
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NewsMedia Bites 28 March: Inflation, John Lewis, Gopuff
The latest shop prices index from the BRC makes headlines this morning as food prices continue to rise
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NewsEndless acquires Smithfield Murray to combine with Yorkshire Premier Meat
Smithfield Murray has been snapped up by Endless to bring the poultry processor together with the private equity firm’s other protein business, Yorkshire Premier Meat.
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NewsMedia Bites 27 March: John Lewis, Asda, Boots, Ocado
It would be a tragedy if John Lewis were to change is staff-ownership model, a former boss of the retailer has said