The number of retailers going into administration fell last year, according to business advisory firm Deloitte. Research found that 183 retailers entered administration over the last 12 months compared with 194 in 2012, a drop of 6%. Lee Manning, restructuring services partner at Deloitte, said:"The high street has undergone a...
Middle class shoppers at supermarket chain Waitrose have complained that a free coffee offer to loyalty card holders is attracting a more downmarket clientele.The offer of a free cup of tea or coffee in stores for myWaitrose card holders, even if they don’t make a purchase, has attracted backlash from...
Supermarket chain Sainsbury’s could be targeted by Qatar for a takeover in 2014 according to Swiss financial services company UBS.The Qatari Investment Authority (QIA) currently owns a 26% stake in the supermarket and previously made an offer for the firm in 2007, only for the credit crisis to bring a...
Duchy Originals, the organic food company set up by Prince Charles in 1992 has made a donation of £2.8 million to the Prince of Wales’ Charitable foundation, as sales remained firm despite the slow economy.The 21-year-old company managed to recover from £3.3 million of debt when it struck a deal...
Analysts have cautiously welcomed a rise in Spanish retail sales, although signs of a more permanent recovery have yet to emerge. Year-on-year retail sales grew 1.9% in November with food, personal items and household goods all showing an increase, according to the country's national statistics institute (INE). However, retail sales...
A think tank has warned that millions of people in the UK will be hit by “perilous” levels of debt when interest rates start to rise again.The Resolution Foundation has said that the levels of debt built up by families in the pre-crisis years are such that “even relatively modest...
More than a million Americans who are out of work will lose their financial support after an emergency programme designed to help them through the recession expired over the weekend.Introduced in 2008 by then-President George W Bush, the plan provided jobless people with an average support package of $1,166 for...
The head of the Confederation of British Industry (CBI), John Cridland, has accused firms of being too slow to pass on their burgeoning post-recession success onto their employees, keeping too many people in minimum wage jobs.In a new year statement Mr Cridland will say that too many of the 240,000...
Retailers have begun their post-Christmas sales earlier than ever this year amidst hopes that bad weather and travel disruptions will not put shoppers off in the vital selling period before the new year.Many large stores opened early on Boxing Day although online retailers were even quicker off the mark, with...
American confectioner Hershey has announced a deal to buy Chinese sweet maker Shanghai Golden Monkey (SGM) for $584 million (£357 million). The agreement marks one of the largest overseas acquisitions for the firm.Hershey president and chief executive John Bilbrey said: "The strength of SGM's confectionery portfolio and overall distribution capabilities,...
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