US company Fortress, which missed out on Morrisons, has said it is still eager to buy a UK firmSainsbury’s was the top riser on the FTSE 100 on Monday as investors bet that the supermarket chain could be the next target for a takeover after the US firm…
Labour and Lib Dems urge Morrisons owners to protect workers
Politicians say they will ensure the chain is not heaped with debt and stripped of assets after £7.1bn takeoverOpposition parties have urged Morrisons’ incoming private equity owners to protect workers and ensure that the supermarket is not heaped with…
Morrisons sale: US firm CD&R wins £7bn auction for supermarket
Private equity business narrowly beats rival Fortress with offer that rises to £9.97bn when including debtThe US private equity firm Clayton, Dubilier & Rice (CD&R) is set to become the new owner of Morrisons after the grocer’s board backed its…
Patisserie Valerie auditors fined £2.3m over ‘serious lack of competence’
FRC says Grant Thornton ‘missed red flags’ and failed to question information from managementThe auditor of Patisserie Valerie has been fined £2.3m and accused of a “serious lack of competence” over its role in the accounting scandal that led to the co…
Aldi to create 2,000 jobs in £1.3bn UK expansion plan
Discount supermarket chain to open further 100 stores as it reports 10% rise in UK and Ireland salesAldi will create 2,000 jobs and open another 100 stores across the UK as part of a £1.3bn plan to take a larger share of the British grocery market.Aldi…
Tesco warns of Christmas panic buying if driver shortage persists
Supermarket fears pictures of empty food shelves will get ‘10 times worse’Tesco has warned government officials that empty supermarket shelves caused by a national shortage of HGV drivers could lead to panic buying across the UK in the lead up to Chris…
Yodel drivers begin strike vote, raising fears for UK supply chains
GMB unable to reach deal on pay and working conditions as country in grip of severe lack of delivery workers Yodel’s delivery drivers are voting whether to go on strike in a move that could worsen the UK’s supply chain crisis.The GMB union said it had …