Patisserie Valerie has attracted interest from numerous bidders, including offers for the entire 206-store chain and ones for parts of it, according to administrators. With the deadline for bids now elapsed, KPMG stated: “We are encouraged by the scope of offers received from trade and finance buyers for all and for parts of the business.” (The Daily Mail).
Administrators to Patisserie Valerie say they have received “a number of offers” for the business. KPMG says it hopes to make progress “in short order” after offers were made for all or parts of the collapsed bakery chain. (Sky News)
Retailers turned to discounts to achieve the biggest rise in sales since last June, but were warned that their recovery may not last (The Times £). Strong food sales underpinned a rise in consumer spending last month following a disappointing December (The Telegraph). UK retail sales growth over the three-month festive season was weaker than last year, despite a stronger performance in January (The Financial Times £).
“Most” EU goods will be waved through dozens of British ports to avoid any traffic delays if Britain leaves without a deal on 29 March (Sky News). Lorries will be able to drive straight off ferries and Channel Tunnel trains without making customs declarations in the event of a no-deal Brexit, the government has announced (The BBC).
Ministers have been urged to protect the nation’s fish and chips by ensuring that British vessels can continue to catch cod and haddock in Norwegian waters. Industry leaders say that a failure to preserve access after Brexit would risk the future of the fishing industry. (The Times £)
Marks & Spencer has been told to take a leaf out of rival Next’s book as it struggles to halt declining sales. City broker Liberum accused M&S of failing to go far enough with its transformation plan, warning that sales were likely to continue falling for the foreseeable future. (The Daily Mail)
Drinks maker Monster Energy has lost to a pizza parlour in a long-running trademark row. Monsta Pizza, of Wendover in Buckinghamshire, had successfully fought a claim by the US energy drinks giant in August 2018. (The BBC)
India puts the squeeze on Walmart and Amazon as stringent new ecommerce rules send unfortunate signal to international investors. New rules that New Delhi brought into force last Friday, unveiled five weeks earlier, will upend their business models and squeeze the returns on their investments. (The Financial Times £)
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