Poundland owner sets discount price for budget retailer’s Warsaw listing May 14, 2021 Poundland’s owner has set a discount price for the budget retailer’s Warsaw listing, giving the company a market capitalisation of 23bn zlotys (£4.38bn). South African conglomerate Steinhoff, the parent company of Poundland owner Pepco, set the price of shares in the firm at 40 zlotys. The pricing is towards the lower end of the 38 [...]
Asda gives hundreds of employees extra week to sign new contracts before facing sack November 2, 2019 Asda will give employees an extra week to sign new employment contracts before dismissing them with the original deadline set for today. The supermarket said workers who had yet to sign the new so-called Contract 6 would be given a seven-day “cooling-off period” to change their mind before losing their jobs. Read more: Asda rejects [...]
Private equity firm buys Gü pudding brand May 17, 2021 Private equity firm Exponent has secured a deal to buy dessert brand Gü from Noble Foods for an undisclosed fee. Gü said the deal will provide investment for the business to expand its current UK production site. Sky News reported last week that Exponent had offered £150m to buy the pudding brand. The company was [...]
MPs speak out as Morrisons bidder plans to run grocer from Cayman Islands September 26, 2021 The private equity eyeing supermarket Morrisons has lined up an entity in the tax haven Grand Cayman to run the supermarket giant, bid documents have revealed. Cross-party MPs have urged Clayton, Dubilier & Rice (CD&R) to assure it will pay UK corporate tax rates on Morrisons’ turnover, the Sunday Times reported. CD&R revealed full details [...]
Petrol retailers could face fines if they fail to pass on fuel duty cuts to consumers May 19, 2022 Petrol retailers could be fined if they fail to pass on fuel duty cuts to customers, warned the Competition and Markets Authority.
Panic over: Brits made 117m fewer trips to the supermarket this March March 30, 2021 Brits made 117m fewer trips to supermarkets this month than in March 2020, which was a month that saw supermarket shelves stripped bare as consumers started panic buying ahead of the UK’s first national lockdown. Grocery sales fell three per cent in the four weeks to 21 March 2021, while during the same period last [...]
Baked goods maker Finsbury Foods whisks up dividends for June May 26, 2021 Baked goods maker Finsbury Food had a stronger second half to its financial year, the group said this morning, expecting a profit before tax of at least £15m. Its profit before tax is ahead of market expectations, the cake maker said, as it prepares to reintroduce its dividend for the year ending 26 June 2021. [...]
Poundland faced with staggering tenfold rise in shipping costs October 14, 2021 Discount retail giant Pound has seen shipping costs rise tenfold due to global supply chain issues. Andy Bond, chief executive of PepCo, which also runs Dealz stores across Europe, said the retailer has enough stock to keep shelves full although he admitted price pressures are being felt. He did not expect the pressures to ease [...]
Morgan Stanley mulls £261m bid for UK waste management firm Augean May 27, 2021 Morgan Stanley Infrastructure Partners this morning confirms it’s weighing up a move for UK waste management services company Augean. The potential acquisition, first reported by Bloomberg, would be the latest in a flurry of take-private deals in the UK. Morgan Stanley has been considering a potential takeover of Augean, which has a market value of [...]
John Lewis and Waitrose to introduce flexible working for head office staff July 5, 2021 Bosses at John Lewis and Waitrose have confirmed they will introduce flexible working for all staff based at the company’s head offices. The announcement by the employee-owned retailer came after Boris Johnson confirmed plans to lift most lockdown restrictions on 19 July, including an end to the government’s work from home guidance. “If restrictions are [...]