Tesco’s chief executive has complained that thousands of staff are missing out on new training because of restrictions on the government’s Apprenticeship Levy fund. Calling for urgent reform, Ken Murphy said stringent rules mean the supermarket chain is offering fewer apprenticeships than before the levy was introduced. (The Daily Mail)
Pub and bar bankruptcies across the UK were near the highest level in a decade with more than 500 businesses folding last year, according to an analysis of official figures, as hospitality venues struggled with rising costs and tepid demand (The Financial Times £). The number of pubs and bars going bust soared last year as the sector was buffeted by rising costs and falling sales (The Daily Mail).
Bestway has already mandated the help of its existing advisers at investment bank Rothschild in relation to its stake building in Sainsbury’s. “It is impossible to rule out the possibility that Bestway will launch a bid for Sainsbury’s after six months are up. However, top retail sources say Bestway may prefer to be taken over itself. That would be a more intriguing outcome that could provide Bestway’s owners with an exit from the business while boosting Sainsbury’s profits.” (The Daily Mail)
Paperchase’s unsecured creditors have been left with a bill of about £20m from its first period in administration after the business collapsed for a second time. (The Times £)
Former Aldi UK chief executive Matthew Barnes has been identified as a possible candidate to replace David Potts at Morrisons. (The Daily Mail)
The “overhangs” that have cast a cloud over the share price of Haleon since its flotation in July last year are set to come under greater focus this week with a key court hearing in the United States. (The Times £)
This year will be painful for shoppers and the businesses selling to them, retail experts say. (The Times £)
A traffic clerk at a London warehouse was asked to leak confidential corporate information to a rival, according to an extraordinary corporate espionage claim lodged in the High Court. In the claim filed last week, Sheffield-based logistics firm Tuffnells alleged that three DX Group employees – all former employees of Tuffnells – conspired to obtain daily customer service reports. (The Times £)
Classic British apples may die out and be swapped for varieties from New Zealand and Japan, as climate breakdown means traditional fruits are no longer viable. (The Guardian)
Wetherspoons founder Tim Martin has bought 2.6 million shares after a 40% fall in value. JD Wetherspoon’s sales have not yet recovered to pre-pandemic levels. This compares poorly to peers such as Mitchells & Butlers. A key issue is JD Wetherspoon’s customer base, which is particularly vulnerable to cost of living pressures. (The Financial Times £)
US workplace safety regulators have fined a Pennsylvania factory after two workers fell into a vat of chocolate and had to be rescued. (The BBC)
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