A UK law firm is preparing legal action on behalf of Tesco shareholders that will allege directors and senior managers "knew or were reckless" over the retailer's "untrue of misleading" accounts, which overstated profits by £263 million.
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Relationships between major supermakets and their suppliers are now at a "crossroads" according to Denis O'Flynn, managing director of Pernod Ricard UK, and we should expect tighter regulations to bring more control over the sector.
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The ongoing price wars in the British grocery market have led sales to decline by 0.2% - the first decrease since market research firm Kantar World Panel began keeping records.
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In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.
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Tesco has boosted its wine team with the addition of an assistant buyer and quality manager.
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Oddbins boss Ayo Akintola has ended 25 years of cordial relations with rival retailer Majestic in a hard-hitting comment for Harpers.co.uk in which he accuses the firm of "morally repugnant" and "shabby" behaviour after it called on suppliers to fund a new warehouse.
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The cat is still well and truly among the pigeons at Tesco. Following its £263 million profits overstatement, suspension of head wine honcho Dan Jago, along with seven other senior executives, and the current investigation by the Serious Fraud Office, every little has not helped.
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Tesco UK and European investors could join US shareholders in taking legal action against the beleaguered retail chain in the wake of its £263 million overstatement of profits.
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Lidl is the UK's best supermarket for wine when it comes to value - according to an 18-month study tasting over 4,000 wines carried out by the Wotwine app.
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The head of the government's business select committee has written to the Groceries Code Adjudicator about how Tesco practices may have infringed the "spirit" of the Code and what action is being taken.
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In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.
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Troy Christensen, chief executive of Enotria, tells Gemma McKenna what's going on at the supplier, the state of distributor retailer relations in light of TescoGate, and what we can expect next.
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Business secretary Vince Cable has written to the Groceries Code Adjudicator over concerns about Tesco's relationships with its suppliers.
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World leading wine consultant, Michel Rollland, and Tesco's Laura Jewell MW are the two latest big names to sign up to the Wine Vision event taking place in London later this month.
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In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.
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The Serious Fraud Office has launched a criminal investigation into Tesco's accounting irregularities after the retailer confimed it had mis-stated profits by £263 million.
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Tesco has listed a Help for Heroes beer, created by injured veterans with the help of brewer and pub operator Marstons, to help raise funds for wounded servicemen.
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A leading retail expert has said Britain's Big Four need to ditch larger stores and "cosy up" to discounters by locating convenience outlets next door.
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Professor Heiner Evanschitzky of Aston Business School asks whether the supermarkets handle Britain's changing shopping habits.
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In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.
Read more...
