Company Shop, one of the UK’s largest redistributors of surplus food, has won a place on a London Stock Exchange scheme to help small businesses.
The Barnsley-based company is one of 19 high-growth private businesses to land a slot on the LSEG ELITE programme, which will offer coaching and advice from business leaders.
The scheme is modelled on a course the London Stock Exchange Group (LSEG) has run in Italy for the last two years, involving more than 130 companies.
“ELITE will provide high-growth companies with the essential tools they need to develop and help foster a connected financial ecosystem, promoting the right type of funding for businesses at each stage of their journey,” said LSEG CEO Xavier Rolet.
“We firmly believe that these companies will fuel the long-term growth of the UK economy, and that ELITE is a unique platform to help them achieve their full potential.”
Established in its current form in 1985, Company Shop sells surplus food at knock-down prices through a string of 18 stores on company premises, and a further 17 click & collect sites. It handles over 30,000 tonnes of surplus stock a year and employs 500 staff.
Last year, it branched out into community shops, opening its first Community Store in Barnsley to provide discounted, in-date food to people in food poverty.
Company Shop won the award for ‘Best Business Initiative’ at the 2013 Grocer Gold Awards and it has been nominated for ‘Consumer Initiative of the Year’ at this year’s event, which will take place on 10 June.
“We are delighted that the London Stock Exchange Group has accepted Company Shop onto its first cohort as part of the ELITE programme,” said John Marren, Company Shop chairman. “We’re proud and privileged to be a part of the scheme, alongside such esteemed industry peers from the food industry and beyond.
“We’re looking forward to learning from the brightest and the best on this programme as we take our model for surplus food redistribution to the next level.”
The ELITE programme has backing from the CBI, Tech City and the Mayor of London, LSEG added.
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