Sir Philip Green faces a fresh grilling when MPs debate BHS’ collapse next Thursday October 12, 2016 Sir Philip Green faces a fresh grilling from MPs when the House of Commons debates the collapse of BHS next Thursday. City A.M. understands the debate will focus on the BHS pension scheme and the damning report from MPs that labelled Sir Philip Green "the unacceptable face of capitalism". Read more: Sir Philip Green's Mediterranean superyacht renamed [...]
Stock Spirits gulps down three Czech vodka and gin brands Prazska, Nordic Ice and Dynbyl from Bohemia Sekt October 12, 2016 London-listed vodka and liqueur maker Stock Spirits has gulped up three spirits brands from Bohemia Sekt for 135m Czech koruna (£4.5m) in a bid to expand its business in the Czech Republic. Stock Spirits has swallowed up Prazska vodka, Nordic Ice vodka and Dynbyl, the country's best-selling domestic gin. The brands will be distributed and marketed by [...]
Travelodge to create 1,000 permanent jobs in Christmas recruitment drive October 12, 2016 British hotel chain Travelodge is planning to check in 1,000 new members of staff as it launches a Christmas recruitment drive to fill positions at dozens of locations across the country. The budget hotelier is recruiting 160 staff for seven new hotel openings in Finchley, Stockport, East Grinstead, Kings Lynn, Andover and Peterhead. The group [...]
Giraffe Concepts snaps up 1950s-style restaurant chain Ed’s Easy Diner in pre-packaged deal that will result in 379 redundancies October 12, 2016 Giraffe Concepts has snapped up Ed's Easy Diner in a pre-packaged sell-off of the 1950s-style restaurant chain. The purchase includes 33 of the company's 59 restaurants and will result in the immediate closure of 26 restaurants and 379 redundancies. The deal, for an undisclosed sum, also includes the Ed's Easy Diner brand and the group's head [...]
Megabrew: Anheuser-Busch InBev shares rise on Euronext Brussels days after swallowing up SABMiller October 12, 2016 Shares in the world's largest brewer Anheuser-Busch InBev (AB InBev) have risen 1.6 per cent on the Euronext Brussels exchange two days after it swallowed up British drinks giant SABMiller in a £79bn takeover. AB InBev's stock was trading at €115.05 on the Euronext Brussels stock exchange, which is the primary listing for the newly-merged company. Read [...]
“Outstanding performance” in own beer brands boost sales at pub group, lodge operator and brewer Marston’s October 12, 2016 Pub group Marston's was toasting its brewing arm this morning after its own-brand beer volumes registered double-digit growth over the year. The figures The Resolution and Hobgoblin brewer's own beer brands grew 13 per cent in the year ended 1 October, in line with management expectations. Like-for-like sales in Marston's destination and premium pubs were up 2.3 [...]
Time Out to open first London market in Shoreditch next year following success of Lisbon venue October 12, 2016 Time Out will launch its first London market in Shoreditch next year, the magazine publisher-turned-entertainment group announced today. The London market will follow the same model as the group's flagship venue in Lisbon, Portugal, which opened in May 2014. The 19,250 square foot space on Commercial Street will hold restaurants, bars, shops, an art gallery [...]
Premier Foods blames warm weather for drop in sales during second quarter October 12, 2016 Premier Foods has reported a 5.4 per cent drop in sales during the second quarter of the year, and placed the blame firmly on the warm weather in September. The group's share price plummeted by 14.5 per cent in mid-morning trading. However, the group, which produces foods for brands such as Bisto, Birds, Lloyd Grossman and [...]
National living wage pushes tens of thousands of companies into financial distress October 11, 2016 Nearly 100,000 businesses have been pushed into financial distress due to the introduction of the national living wage six months ago. According to data from insolvency firm Begbies Traynor, 97,342 firms impacted by the introduction of the national living wage are now struggling financially, an increase of 23 per cent since the legislation came into [...]
The world is going nutty for healthy snacks and increasingly shunning sugary treats October 11, 2016 Growth in healthy snacks has outstripped growth in traditional in-between meal treats as consumers shift towards lower-sugar diets, according to figures from Euromonitor International. Retail value sales in so-called "healthy" snacks, which include yoghurts, nuts and fruit snacks, have grown seven per cent worldwide between 2015 and 2016. Although yoghurt and sour milk products grew [...]