McColl’s Retail Group, one of Britain’s biggest convenience store chains, is racing to secure new funding to stave off a collapse that could put thousands of jobs at risk (Sky News). The convenience store chain McColl’s is seeking a capital injection before a deadline to agree new financing terms with lenders (The Times £). Morrisons has emerged as a potential buyer for beleaguered McColl’s (The Daily Mail).

Consumer goods giant Unilever has drawn up an ambitious £5bn plan to replicate the business it failed to buy from GlaxoSmithKline. Chief executive Alan Jope is embarking on a strategy to grow its health and beauty brands overseas. He hopes to expand sales further through a string of deals. (The Daily Mail)

A pension fund managing the nest-eggs of ten million savers has joined a campaign pressing Unilever to make its food products healthier. (The Times £)

Burger King UK’s £600m flotation is understood to have stalled because of investor nerves over the conflict in Ukraine. (The Daily Mail)

Bidders for Boots, Britain’s biggest high street chemist, are grappling with options for tackling huge pension liabilities guaranteed by the chain’s current owner. (Sky News).

Shoppers will have to pay even higher food prices as the crisis in Ukraine threatens global supply chains, while the cost of wheat, corn and fertiliser will become even more volatile (The Times £). Russia’s invasion of Ukraine could lead to prices rising at a rate not seen in decades, analysts suggest (The BBC).

Economists have warned that UK inflation could peak at more than 8% after the surge in commodities prices caused by Russia’s invasion of Ukraine (The Times £).

John Lewis is to scrap its “never knowingly undersold” price promise this year in favour of a more proactive approach to pricing led by new lower-cost product ranges (The Financial Times £). John Lewis is scrapping its famous Never Knowingly Undersold price pledge after almost 100 years as it grapples with increased competition from online rivals (The Telegraph). John Lewis is ditching its “never knowingly undersold” price match pledge after almost a century, saying it has lost relevance at a time when it faces stiff competition from online retailers such as Amazon (The Guardian). The department store giant said the commitment, first introduced in 1925, hailed from a different era and would be “retired” this summer (Sky News).

John Lewis’s Never Knowingly Undersold was past its sell-by date, writes Ben Marlow in The Telegraph. “It had become an increasing burden, often costing millions of pounds a year, with consumers able to quickly compare prices as they shop thanks to the proliferation of the smartphone. Some years, the famous pledge cut profits to the bone, making it harder to live up to and fuelling calls for it to be ditched.” (The Telegraph)

British businesses are sceptical that the government and EU will resolve problems at the UK border and instead believe it will fall to them to reduce costly delays, according to a survey. (The Financial Times £)

A broad and eclectic coalition of more than 100 businesses and campaigners on health, food and the environment is calling for the government to enshrine tough food targets in law, amid concerns that Boris Johnson is about to ditch anti-obesity measures. (The Guardian)

The National lottery operator Camelot is on track to win its lucrative licence for the fourth time despite a leaked document revealing that a rival bidder would increase the amount given to good causes by 135% (The Times £).

A senior Conservative MP has challenged the process by which Camelot is expected to be awarded a fourth successive licence to run the National Lottery, possibly as early as next week (The Financial Times £)

A key producer of carbon dioxide has warned of “significant uncertainty” over the future of its UK plants as energy costs continue to climb, raising the spectre of a renewed shortage of a gas used in hospitals, nuclear power stations and food production. (The Times £)

The possibility of an online tax looks stronger after the Treasury launched a consultation on the potential impacts it could have on consumers and businesses (The Times £). Inflation-ravaged shoppers will not face an additional levy on their online purchases for the time being after the Treasury published a consultation on an online sales tax but stressed that “no decisions have been made yet” (The Telegraph).

Tesco is to become the first of the main UK retailers to stop selling baby wipes containing plastic, which cause environmental damage as they block sewers and waterways after being flushed by consumers. (The Guardian)

From distinctive pink and yellow Battenbergs to neat Cherry Bakewells, Mr Kipling cakes are about as British as they come. But the brand is poised to make a bold attempt to crack the US, taking a range of its sweet treats to the home of the Twinkie. “[It could be] a real game-changer,” said Alex Whitehouse, Premier’s chief executive. “If you do the maths; the US cake market is about five times the size [of the UK].” (The Financial Times £)

British asparagus is landing on supermarket shelves eight weeks earlier than usual after the mild winter weather quickened the arrival of this year’s first spears. (The Guardian)

After more than two years as essential workers on the frontlines of the Covid-19 pandemic, grocery store workers around the US are pressuring supermarket corporations to raise wages and improve working conditions amid record profits for the industry. (The Guardian)

Australia’s largest wine producer has moved to offset the crushing impact of Chinese tariffs on the country’s wine industry by hiring celebrity criminals to carve out a stronger position in the US luxury market. (The Financial Times £)

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