Organic groceries purveyor Abel and Cole has
seen its losses increase more than 671 percent in the year to
last August from £3.5 million to £27 million. Sales
rose 3 percent to £31.7 million during the period, but a
“£20 million goodwill impairment and higher costs hit
the bottom line,” reports the Telegraph.
The Hut Group has raised £14 million in a
pre-flotation placement. The fundraising will enable the
entertainment products etailer and ecommerce services provider to
create up to 150 jobs in the next 18 months. In other Hut news,
the company is launching a gifts website called
Gifted.com following a six-month trial period of
selling a range of gifting products on its
TheHut.com website.
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