A boom in the number of teetotalers and health-conscious drinkers has prompted Diageo, the world’s largest distiller, to take a majority stake in a non-alcoholic spirits brand (The Times £). Diageo, the world’s largest spirits maker, has increased its holding in “game-changing” non-alcoholic spirit brand Seedlip to a majority stake, as it seeks to cater to the growing number of teetotallers (The Financial Times £). Diageo has bought the “game-changing” non-alcoholic spirit Seedlip, adding it to a drinks cupboard that includes Guinness and Johnnie Walker whisky (The Guardian).
The costs of insuring PizzaExpress debt against default has jumped to its highest level amid concerns over the chain’s borrowing as it grapples with an increasingly difficult UK market and a costly overseas expansion. (The Financial Times £)
Two-thirds of UK exporters, responsible for around 25% of trade with the European Union, have still not taken the most basic steps to prepare for a no-deal Brexit, according to the latest records from HM Revenue & Customs. (Sky News)
Sluggish recruitment rates are being blamed on political and economic uncertainty. The Recruitment and Employment Confederation (REC) says that the number of staff placed in permanent jobs by employment agencies has fallen for five months in a row. (Sky News)
UK food producers and distributors have asked for competition rules to be relaxed in the event of a no-deal Brexit, so they can co-ordinate without fear of prosecution the distribution of goods whose supply might become constrained (The Financial Times £). Britain’s food and drinks industry has asked the government to suspend competition law in the event of a no-deal Brexit so that firms can work together to avert food shortages without facing large fines for collusion (The Guardian).
The big four supermarket bosses could soon gather to decide among themselves which products go where to keep the food supply going if there is a disorderly Brexit. At the moment they legally cannot do so, as competition law forbids them to discuss pricing and supply. (The Telegraph)
The American owner of Boots, Walgreens Boots Alliance, will close 200 stores in the United States as it continues to cut costs as part of a worldwide restructuring. (The Times £)
The boss of Eat is heading for the door only three months after striking a deal to sell the sandwich chain to Pret A Manger. Andrew Walker, who has been chief executive of the food-to-go business for three years, said yesterday that he would be stepping down to pursue other interests. (The Times £)
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