RCM Weekly review - August 2019 - Week 34
This week: Morrisons confirm that four stores are to close with the loss of up to 400 jobs & Harland and Wolff administrators confirm they have received several offers to buy the business
23rd August 2019
Morrisons confirm that four stores are to close with the loss of up to 400 jobs.
Morrisons, the UKs fourth largest grocer has announced that it is to close four under-performing stores.
It was announced yesterday that their Crawley store, which only opened five years ago, would close with the loss of 128 jobs. Further to that announcement it has been confirmed that an additional three stores are scheduled to close; Shirley in Solihull, Regents Circus in Swindon and Ince in Wigan.
Morrisons have said that they are reviewing existing store for performance but plan to open additional store this year. As spokesman said, “We are planning to invest in four new stores this year and are today, regrettably, proposing to close four. As we continue to focus on building a broader, stronger Morrisons we are constantly reviewing opportunities for new stores and the performance of our existing estate”
23rd August 2019
Harland and Wolff administrators release update confirming they have received several non-binding offers.
Harland and wolf went into Administration on the 6th August putting 120 jobs at risk. The iconic firm had fallen far from its peak having employed more than 30,000 and best known for building the Titanic ocean liner.
As spokesman for the Administrators BDO said, "There has been a healthy level of interest with regard to purchasing the business, assets and safeguarding the existing jobs since the commencement of the Administration process. This has resulted in a number of non-binding offers for the business, assets & employees on a going concern basis. There are also other interested parties who are in constructive discussions with the Administrators which may result in further offers.”
Read more here:
Is your business struggling? Not sure where to turn? We can offer you a free consultation to discuss your options.
You can call our confidential advice line free of charge:
0800 288 4088
Alternatively, complete one of our enquiry forms below and we'll get in touch.