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Evening Standard
Greggs workers in line for £17 million bonus payout after boost to profits
Thousands of workers at Greggs are in line to share a £16.6 bonus payout after the Newcastle-based bakery saw a boost in profits.Greggs boss Roisin Currie told the Standard workers would receive an average of £700 each, with the bonus being paid at the end of March. All employees with at least six months’s service …
Business
Sky News
Power grid operator fires up contingency plans as cold snap hits
Britain’s power system operator has triggered contingency plans in case supplies can’t keep up with demand in the current cold snap.National Grid ESO issued a so-called electricity margin notice (EMN) overnight and later ordered four out of five coal-fired plants, kept in reserve, to warm up in case they were needed. It said of the …
Business
Sky News
Manufacturing sector demands ‘reset’ in UK relationship with EU as supply chain crumbles
The head of the manufacturing sector’s lobby group has demanded a “reset” in the UK’s relationship with the European Union, claiming international suppliers have increasingly turned their backs on the country. Stephen Phipson, chief executive of Make UK, told the organisation’s annual conference that political turmoil in the UK had exacerbated supply chain strains caused …
Business
Business Live
Revolution Bars blames strikes, cost-of-living crisis and hot weather as it slips to a loss
The group behind the Revolution and Revolución de Cuba bar brands has blamed “continuous and varied external headwinds” as it slipped to a loss during the first half of its financial year. Manchester-headquartered Revolution Bars has posted a pre-tax loss of £91,000 for the six months to the end of 2022, compared to a profit …
Business
Business Live
Greggs sees sales and profits rocket amid year of record new store openings
New store openings and the growing popularity of Greggs in the evening have helped the high street bakery brand to generate sales of £1.5bn. A record 186 new shop openings during 2022 helped the Newcastle-based firm attract more customers close to pre-pandemic levels, it said in preliminary results published to the London Stock Exchange. Greggs …
Business
Evening Standard
Greggs eyes expansion to ‘significantly more than 3,000 UK shops’ after sales surge past £1.5 billion
Sausage roll maker Greggs has said there is a “clear opportunity” to have “significantly more than 3,000 UK shops” as a surge in sales helps fuel its rapid expansion.The Newcastle-based bakery business opened a record 186 new stores in 2022 and is targeting another 150 openings in 2023, including in retail parks and train stations. …
Business
Business Live
In The Style agrees £1.2m sale to private equity firm to avoid administration
In The Style has agreed to sell itself to a private equity firm for £1.2m in a bid to avoid administration. The Salford-based company is to dispose of its only operating company, In The Style Fashion, to Baaj Capital LLP. The offer includes a condition that founder Adam Frisby takes a stake in ITS Holdings …
Business
Evening Standard
Mr Kipling firm Premier Foods hikes profit outlook as sales surge
Mr Kipling cake firm Premier Foods has hiked its annual profit outlook as sales growth remains in double digits thanks to a strong performance in its grocery arm.The group, which makes a raft of well-known brands such as Oxo cubes and Bisto, said it is on track for sales in its fourth quarter to be …
Business
Sky News
‘It’s really worrying’: Hundreds of community pharmacies ‘could close due to rising costs’
When Amish Patel followed his father into the pharmacy business, he hoped it would be a job for life.But with the cost of everything from medicines to energy rising, it has become increasingly difficult to pay the bills. “In 2020 my pharmacy made the first ever loss in its business profits, which for a pharmacy …
Business
Sky News
CBI boss Danker ‘steps aside’ amid investigation into workplace conduct
The director general of the Confederation of British Industry (CBI) Tony Danker has stepped aside from the role while the business lobby group investigates allegations relating to his workplace conduct.The body said he had requested to leave the role while a number of allegations were examined. They came to light after a previous allegation that …
Business
Sky News
‘I apologise profusely’, CBI boss Danker says after stepping down amid conduct investigation
The director general of the Confederation of British Industry (CBI) Tony Danker has stepped aside from the role while the business lobby group investigates allegations relating to his workplace conduct.The body said he had requested to leave the role while a number of allegations were examined. Mr Danker responded to the claims in a statement …
Business
Sky News
Hospitality chief urges Shapps to overhaul Ofgem powers amid energy squeeze
Grant Shapps is facing fresh calls to overhaul the energy regulator’s powers amid growing fears for hospitality businesses’ ability to withstand soaring power costs.Sky News has seen a letter from Kate Nicholls, chief executive of UK Hospitality, to the energy secretary in which she demands that Ofgem be allowed to tackle suppliers’ handling of business …

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