Hummus Bros dips into administration June 26, 2018 London food operator Hummus Bros has closed as a "perfect storm" of costs and competition pushed it into administration. The six-strong Mediterranean chain posted on twitter late last night to inform customers that the business had closed after 13 years of trading. Humms Bros said that "rising costs, reduced demand and over-supply in the market" [...]
Here’s how you can get a free iced coffee this week June 26, 2018 Pret a Manger is giving out free iced coffees this Friday to celebrate its new summer menu. Iced coffee is available from today at over 200 Pret branches, including most of its City locations. On Friday 29 June, staff will spend an hour giving away the cold drink for free. But there's a catch. Pret [...]
Sainsbury’s sales dip while Ocado and Lidl gain in latest grocer data June 26, 2018 Sainsbury's was the only supermarket to see a decline in sales during the 12 weeks to 17 June, new data shows. Sales slipped by £10m compared to the same period last year, bringing its market share down to 15.6 per cent, according to Kantar Worldpanel. Tesco, Asda and Morrisons also all lost market share despite [...]
Asda ranked worst big supermarket for treatment of suppliers while Iceland comes last overall June 25, 2018 Asda ranks lowest among the big four supermarkets for treatment of suppliers, according to the regulator's annual report released today. Out of all 10 grocers assessed by the Groceries Code Adjudicator survey, Iceland ranked last and the Co-op was second from the bottom. Some eight per cent of Asda suppliers reported that the supermarket "rarely" [...]
House of Fraser CVA approved June 22, 2018 House of Fraser's creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history," [...]
Pod takes down mini-bond posters over concerns of misleading potential investors June 22, 2018 Food-to-go operator Pod has taken down posters inviting customers to purchase mini-bonds from the company after concerns were raised that they could be misleading. The company has today opened its mini-bonds up to the public, with a goal of raising at least £200,000 to support expansion. But in the run-up to the launch, the company [...]
House of Fraser CVA approved June 22, 2018 House of Fraser's creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history," [...]
Shares in BP and Shell rise as Opec agrees to raise oil supply by 1m barrels per day June 22, 2018 Oil output is to rise by 1m barrels per day after Opec reached a deal today. Shares in London-listed oil companies including Shell and BP rose on the news. The group of 14 oil-producing countries reached an agreement after meetings in Vienna today, according to reports. Meetings are set to continue into Saturday, when Opec [...]
Pure Gym buys Soho Gyms to bulk up London presence June 22, 2018 Pure Gym has snapped up the 10-strong London Soho Gyms chain and will convert all the branches to the Pure format. The addition of the Soho portfolio, which includes sites at Tower Hill and Farringdon, will bring the number of Pure sites in London up to 59. Pure charges significantly less than Soho, with a [...]
House of Fraser landlords, lawyers and property advisers slam ‘disappointing’ CVA vote June 22, 2018 Landlords have been left disappointed after House of Fraser's CVA was passed today, with some even considering legal action. Creditors threw a lifeline to the department store chain by approving rescue plans that will result in half of the retailer's sites being closed. Possible legal challenge Two advisers to a group of the affected landlords [...]
