Top stories in the papers this week 31 July – 6 August 2012

Sonya Lennon at the Todays Women in Grocery networking event, Defining You, which was held in Dublin Royal Convention Centre. Pic: Kieran Harnett

Northern Ireland shoppers heading to Republic for bargains; Examiner appointed to food producer; New Centra store creates 30 new jobs in Cork

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1. Northern Ireland shoppers heading to Republic for bargains

Cross-border shopping has gone full circle with consumers from Northern Ireland now heading south for bargains, the Irish Independent reports. Due to a weak euro, consumers can save more than €90 on items like iPads by visiting the same high street stores south of the Border. Most groceries are still more expensive in the Republic however, although the differences are small. 

2. Examiner appointed to food producer

The High Court has appointed an interim examiner to Tipperary-based group, McEvoy Family Foods Ltd. The Irish Examiner reports the company got into financial difficulties due to factors that include high start-up costs, lack of bank funding, and bad debts. Interim examiner Neil Hughes has been given 100 days to come up with a scheme of arrangement with the firm’s creditors that, subject to High Court approval, will ensure the firm can continue to trade. 

3. New Centra store creates 30 new jobs in Cork

Centra has announced the opening of a new store and cafe at the Kevin O’Leary Group showrooms on the South Douglas Road in Cork, ShelfLife reports. Creating 30 jobs and following a €1million investment, the 6,000 sq ft store and adjoining cafe owned and operated by local businessmen John and Kevin O’Leary opened on 3 August.  

4. Shop worker admits £1m lottery con

A shop worker has admitted attempting to falsely claim a £1 million lottery prize. The Irish Times reports Farrakh Nizzar told Maureen Holt (77) she had won nothing when he scanned her EuroMillions ticket at a c-store in Greater Manchester. He reportedly told her he would throw away the ticket but then later attempted to claim the winnings. However the ticket was found to have been purchased on Mrs Holt’s Tesco Clubcard and Nizzar has been remanded in custody ahead of his sentencing hearing on 20 August. 

5. Ratings firm issues Tesco warning

Tesco’s UK headquarters were dealt a blow, the Irish Examiner reports, when a key ratings agency placed the retailer on negative outlook due to lower profits and a weakening hold on the UK market. Standard & Poor’s said ongoing pressure from intensifying competition, weak consumer spending and lower profits could trigger a downgrade to its risk profile and credit rating.

Also:

BWG, Donnelly in €50m deal with 21 jobs (Business World)

Spar worker still in serious condition (Irish Times) 

US drought to spark 20% hike in bacon price (Irish Independent)

Tesco launches UK’s first virtual supermarket at Gatwick airport (Guardian, UK) 

New retail centre proposed for Rush (Dublin People) 

UK dairy farmers lead by example (Irish Examiner) 

Half of Irish businesses on verge of collapse, new survey shows (Irish Independent) 

Greencore meeting expectations as revenue rises (Irish Times) 

Greggs profits and sales hit by record summer rainfall (Guardian, UK)

Failed retail ventures rise by 77% (Irish Examiner) 

Ireland’s love affair with cash continues (Irish Independent)

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