JAMIE CARR: Wonga crashes out of the credit game
With its plunge into administration last week, it’s curtains for the payday lender that once set out to disrupt a sector in the UK that looked ripe for the plucking
Shareholders who have long hoped to find a pot of gold at the end of this particular rainbow have had a bit of a mixed ride over the years. RCL Foods’ core chicken business has had to contend with aggressive competition from imports and a string of diseases that took substantial chunks out of our feathered friends. But it has responded well and put in a solid performance, despite the comatose state of the local economy and intense pressure on disposable income. The company says most of its groceries brands performed exceptionally well, while its chicken business recovered strongly despite the listeriosis crisis and an outbreak of avian influenza. It notes the six strategic thrusts that came out of its restructuring, including the drive to invest in its brands, from which the likes of Yum Yum peanut butter and Nola mayonnaise for the first time became market leaders over a full 12-month period. Its emphasis on partnerships with strategic customers resulted in a significant improvemen...
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