With annual sales of £1.6bn and shares flying high at 425p each on the stock market at the end of 2017, Conviviality seemed to be more than keeping its head above water in the choppy seas of today’s difficult trading environment.
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Brewing company C&C in partnership with AB InBev are likely to save Matthew Clark and Bibendum PLB.
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Conviviality has confirmed the board has resolved to file notice of intention to appoint administrators following discussions with its lending banks.
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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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Fever-Tree accounted for 91% of the value growth of all mixers on the UK’s retail shelves last year, as the UK-based company continues to lead the march of premium mixers.
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Volume sales of alcohol continued to decline in the UK off-trade in 2017, but value sales increased in both yearly and quarterly sales, particularly in sparkling wine, which remains the main driver of growth for the overall wine category.
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“I realise just how few grand theories I have, to what an extent the Blizzard was created by a series of small individual decisions without any great defining vision behind it, how we keep muddling through….we still tend to judge things by how interesting we find them rather than by what traffic they may generate…”
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Italian spirits group Campari has posted strong annual results boosted by the success of Aperol.
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Distell Group’s results for the six months to 31 December 2018 report revenue up 9.3% on increased volumes of 3.7%, up to R13.4 billion (£828 million).
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Pernod Ricard has renewed its long-standing partnership with Wincanton in the UK.
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Pernod Ricard is celebrating rising profits of 25% in the first half of the 2018 fiscal year, with growth driven by stronger demand in China, India and at its travel retail division.
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Representatives from the UK and European drinks industries have called on politicians to ensure the cross border free trade of wine & spirits remains post Brexit.
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Conviviality, the alcohol wholesaler, distributor and high street retailer, is to buy 109 convenience stores from failed Palmer & Harvey (P&H) through its subsidiary Bargain Booze.
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The UK will remain a member of the EU's customs union and single market between 2019 and 2021 according to a leaked copy of European Council guidelines for upcoming trade talks.
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The impact of Brexit on sterling has been a major factor in 2017 trade. Industry insider Hamish Gillespie, finance director at North South Wines, explores how best to mitigate the downside
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Scotland’s largest independent brewer, a northern pub and restaurant operator and London based fine wine merchant are the three stand out drinks companies to have made it into this year’s list of the UK’s fastest growing businesses.
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Brexit talks floundered once again yesterday as PM Theresa May was forced to pull out of a deal with Brussels following a row with the Democratic Unionist Party (DUP) over the status of the Irish border.
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CAMRA, the body which represents the interests of the UK beer and cider industry, has expressed concerns that artisanal cider producers who producer higher ABV products could be tarred by the same brush which is intended to increase duty on high-alcohol, cheaply made ciders.
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Majestic Wine said it is ready to “put our foot on the gas and accelerate growth” on unveiling its half year results today.
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