Businesses are split in their response to the Treasury's £1 billion support package, with enthusiasm from some quarters, while others have claimed that the amount “borders on insulting”.
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Scotland and Wales are to receive additional funding from Westminster to help struggling businesses cope with new Covid restrictions, as England awaits news on further restrictive measures.
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Ferovinum, the company that provides capital against wine and spirits inventories, has unveiled a new funding facility with BCI Finance that will enable it to increase the scale of its support.
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Wines of Germany has launched an innovative scheme to encourage UK independents to spread the word about Germany’s vinous offering.
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The whole of the on-trade has been gravely impacted by the closures associated with Covid. However, the night-time economy, which looks set to fully reopen in July – two months after other indoor hospitality venues – continues to suffer the worst of the impact, with operators calling for more clarity on their future.
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Majestic and Moët & Chandon have clubbed together to create a new fundraising initiative for The Drinks Trust.
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The heartland DOCGs of Conegliano Valdobbiadene Prosecco Superiore, Asti and Vino Nobile di Montepulciano have joined with producers from Provolone Valdpadana PDO, Mozzarella TSG and Olio Extravergine d’Oliva Toscana PGI for the launch of Enjoy European Quality Foods (EEQF).
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Conviviality Plc has failed to raise the £125 million needed to recapitalise the business following a tumultuous month which saw three profit warnings, its market value tumble, shares suspended and the departure of CEO Diana Hunter.
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Cash strapped wholesaling group Conviviality has announced it is in talks to begin equity fundraising in to plug a £30m tax shortfall which is due on March 29.
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