Crunch time: Kettle Foods poised for takeover by Irish group Valeo August 12, 2019 The owner of high-end crisp brand Kettle Chips is set to be swallowed up by Irish food group Valeo as the two companies near an agreement in takeover talks. Valeo Foods, which owns brands including Rowse Honey and Barratt confectionery, is in advanced talks to buy Kettle Foods’s operations in the UK and Ireland, Sky [...]
Choc Horror: Hotel Chocolat’s ‘Chocmobile’ found burnt out August 12, 2019 Hotel Chocolat has been left with a bitter taste in its mouth after police found its stolen ‘Chocmobile’ burnt out in Bedfordshire. Officers found the distinctive black van at roughly 9am today in Kempston Hardwick on the outskirts of Bedford. Read more: Hotel Chocolat goes into meltdown over missing Chocmobile The Chocmobile, which was used [...]
Struggling mattress start-ups Eve Sleep and Simba confirm merger talks August 12, 2019 Mattress start-ups Eve Sleep and Simba confirmed today they are in talks to merge. The two businesses have struggled recently with Woodford-backed Eve suffering a share crash after investors were offered shares at a steep discount during a £15m funding round in December. Read more: Eve Sleep shares plummet after investors buy in for a [...]
Thomas Cook shares plunge on fresh funding talks as it nears Fosun tie-up August 12, 2019 Thomas Cook shares plummeted this morning as investors digested the news the tour operator is in advanced discussions with bond holders for a £150m cash injection, on top of the £750m rescue deal it is already working on with lead investor Fosun, which would nearly wipe out shareholders. The company’s market value dropped 17 per [...]
Vacancy rates hit worst level in over four years August 12, 2019 The decline of the British high street has deepened this summer with vacancy rates hitting a four-year high and sluggish footfall underlining a torrid selling season for retailers. Empty store fronts climbed to their highest level since January 2015 in July, following a turbulent 12 months during which some of Britain’s most iconic retailers permanently closed [...]
Luxury car imports jump as super-rich look to swerve Brexit costs August 12, 2019 The number of luxury car imports has risen sharply over the last year, as wealthy individuals rush to bring high-end motors to the UK ahead of a potential no-deal Brexit. A total of 3,830 cars were imported in the last financial year, up 16 per cent on the previous 12 months, according to law firm [...]
Hot weather helps pubs and restaurants post modest monthly sales growth August 12, 2019 British pubs and restaurant groups enjoyed increased sales in July, as eateries showed signs of recovering from poor trading last summer. Restaurant groups posted a 3.8 per cent increase in like-for-like sales compared to last July, when hot weather and the football World Cup took their toll on business. Read more: Restaurants eat into retailers’ [...]
Physical entertainment sales slump amid shift to streaming August 12, 2019 The physical entertainment market declined by almost a fifth over the last quarter, as the growing popularity of streaming services continues to impact traditional formats. Sales of CDs, DVDs and video games dropped 19 per cent in the 12 weeks to the end of June, as a reduction in shopper numbers was compounded by a [...]
Cathay Pacific ‘sacks staff involved in Hong Kong protests’ after regulator pressure August 11, 2019 Hong Kong’s flag carrier airline Cathay Pacific has reportedly sacked two airport employees and suspended a pilot in relation to ongoing anti-government protests in the city. The operator took the decision after telling staff on Saturday it would bar any “overly radical” employees from crewing flights to the mainland and said it had removed a [...]
Squashed: Britvic looks to cut final salary pensions August 11, 2019 Drinks producer Britvic is planning to slash the money it pays out to 6,000 members of its final salary pension scheme. The FTSE 250 firm, which produces Robinsons soft drinks, is looking for court approval to stop measuring inflation according to the retail prices index (RPI), and instead switch to the consumer prices index (CPI). [...]