News: Crawshaws sale saves jobs

240 jobs at Rotherham-based retailer, Crawshaws, have been secured after certain business and assets were sold to a newly created company, Loughanure Limited.

350 redundancies were made when the Hellaby-based company formally appointed administrators last month. It came after bosses failed to find investment for turnaround plans as the listed group suffered declining sales amid challenging trading conditions.

The UK's leading value butcher, had operated 42 High Street stores and 12 factory stores, and appointed Robert Hunter Kelly and Charles Graham John King, both of Ernst & Young LLP, as joint administrators.

The deal, which includes the Hellaby production and distribution facility, follows a sale process run by the joint administrators which resulted in over 50 expressions of interest in parts or all of the business. Loughanure have paid around £1.4m for certain business and assets, subject to adjustment following completion of a stock count.

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An update to the stock exchange said: "The sale has resulted in substantially all of the group's realisable assets being sold and the group has ceased to trade. The trade of the business will now be continued by Loughanure.

"The Joint Administrators are continuing to market the sale of certain closed stores and related assets as well as recovering outstanding debtors."

Loughanure was incorporated in November and is majority owned by Thomas Cribbin. Cribbin Family Butchers (Holdings) Limited previously operated a chain of butchers' stores in the Republic of Ireland and sold Gabbotts Farm Limited to the Crawhsaw Group in 2015.

Last month, 35 stores (including in Rotherham town centre) and Crawshaw's Astley distribution centre were closed. The remaining 19 stores and the Hellaby production and distribution facility have been sold to Loughanure. The Group's only remaining assets are a long leasehold property in Grimsby, short leasehold interests in closed stores, surplus store equipment and a number of vehicles.

Following the sale, trading in the company's securities on AIM will likely be cancelled.

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News: Jobs go as Crawshaws appoints administrators

350 redundancies have been made as Rotherham-based retailer, Crawshaws, formally appoints administrators.

Rothbiz reported last week that the Hellaby-based company was heading for administration after it failed to find investment for turnaround plans having suffered declining sales amid challenging trading conditions.

The UK's leading value butcher, which operated 42 High Street stores and 12 factory stores, has appointed Robert Hunter Kelly and Charles Graham John King, both of Ernst & Young LLP, as joint administrators.

An update to the stock exchange said: "Following consideration of the Group's financial position, the Group has ceased to trade from 35 stores and continues to trade from 19 stores which remain open and are trading as normal. The distribution centre at Astley has been closed and the stores and the Group's remaining businesses are being serviced and supplied from the Group's remaining distribution centre at Hellaby.

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"As a result of the store closures it has been necessary to restructure the workforce for economic, organisational and technical reasons. This has resulted in 354 redundancies with the Group continuing to employ 261 staff to trade from, support and supply the 19 stores that remain open and operational as well as supply the three butcher's counters which are being trialled in Spar stores and the wholesale operations."

The Crawshaws outlet on Howard Street in Rotherham town centre has closed. The factory outlet at Hellaby, and the counter at the Spar in Wath continue to trade as the administrators look for the best deal for creditors.

The firm announced growth plans in 2015 that included £200m of investment, opening 200 stores and creating 2,500 jobs. After several years of financial losses, a review of the business was undertaken which showed that a change programme was needed to restore growth and profitability with a transition to focus more on factory store locations. Unsuccessful attempts were made to raise the additional investment required to fund the restructuring plan.

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News: Crawshaws heading for administration

The board at Rotherham-based meat retailer, Crawshaws, has announced its decision to appoint an administrator after it failed to find investment.

The UK's leading value butcher is based at Hellaby and operates 42 High Street stores and 12 factory stores.

The announcement comes just three years after the firm announced growth plans in 2015 that included £200m of investment, opening 200 stores and creating 2,500 jobs.

However, sales continued to decline amid challenging trading conditions and Crawshaw's management was forced to undertake a review of the business and implement a change programme to restore growth and profitability with a transition to focus more on factory store locations.

After reviewing its structure and investment in traditional high street locations, the Board said last week that it was considering a number of remedial actions to address the key issues it has identified, which may include raising additional funding through an equity capital raising.

The additional funding could not be secured.

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A statement to the stock exchange said: "The Board has been in discussions with existing investors and prospective investors. Unfortunately these discussions have not been successful in raising sufficient capital to address those key issues.

"The Company does not have sufficient cash resources to effect the required restructuring of the business.

"In the light of the above and the operational and financial uncertainty which the Company now faces, in order to protect both shareholders and creditors, the Board has taken the decision to place the Company into administration and intends to appoint administrators shortly with the purpose of seeking buyers for the Group's business and assets on a going concern basis.

"As a result, the Board announces it has requested a suspension of trading in its shares on AIM with effect from 7.30am on 31 October 2018.

"Further announcements will be made in due course."

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News: Crawshaws continues to look beyond the high street

Rotherham-based Crawshaw Group Plc, the UK's leading value butcher, says that factory shops are central to future profitable growth.

The AIM-listed Hellaby firm reported its interim results which showed that sales continued to decline amid challenging trading conditions.

For the six months ended July 29, pretax losses widened to £1.7m from £1.2m loss in the same period in the previous year. This was despite revenue remaining comparatively flat at £21.6m compared to £22.1m in the year before.

Crawshaw's management has completed its review of the business and is implementing its change programme to restore growth and profitability with a transition to focus more on factory store locations. It continues to open new stores with three new factory shops opened in current year and ten more planned in 2019/2020 and a further ten in 2020/2021.

Crawshaw said it was reviewing its structure and investment in traditional high street locations where it has 42 stores trading.

Jim Viggars, CEO of Crawshaw plc, said: "Clearly the results for H1 are disappointing, but not entirely a surprise given market conditions and the issues that face a retail estate that has too many high street stores and currently not enough factory stores.

"However, the important issue is the future growth and profitably of Crawshaw. The new management team has identified what it considers to be the key issues and are moving at pace to remedy them on a sustainable basis. This is achievable over the medium term, despite market conditions which include declining high street shopper numbers, increasing convenience and online shopping and retail pricing that is more competitive.

"Our factory stores continue to produce good returns and have substantial room to improve as we get to grips with the supply chain and operational standards. Factory stores are our priority for growth."

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Another project sees a trial begin with A.F. Blakemore, the UK's leading Spar wholesaler and retailer, which will take the Crawshaw value meat offer into the growing convenience market. A three-store trial is expected to commence in early October 2018.

Again away from the high street, a new website expected to go live in early October 2018 to enable Crawshaw to deliver direct to the doorstep. The online brand will be WF Burtons, which is a traditional, high quality butchers owned and operated by Crawshaw in Pocklington, Yorkshire.

Viggars added: "Convenience shopping is growing significantly and this route to market will complement our own factory store rollout.

"Taking Crawshaw online by utilising our bespoke butchers' shop WF Burtons of Pocklington provides another new route to market. This will enable us to reach many more consumers who choose online shopping as part of their shopping repertoire. Our key point of difference will be providing a farm to fork Givendale British beef range of high-quality cuts at market leading prices."

Jim McCarthy, chairman of Crawshaw plc, added: "The new leadership team has a significant amount of experience working in the meat industry. They have identified the core issues affecting the business and are actively implementing a programme of change.

"We recognise that some of our existing High Street stores are not core to our future growth. Our Factory store format is attractive to consumers and we intend to accelerate the growth of this proven model, constantly refining value, operational standards and the overall shopping experience that is key in driving sales and profitability.

"We are also trialling initiatives in both convenience and online channels in order to meet changing customer shopping requirements. We believe we will be able to achieve this at relatively low cost and that over time these channels will support the factory store format in delivering sustainable growth and profitability.

"I am confident with the operational actions now being undertaken and new personnel joining to deliver the change we need, we have a programme in place that will, over time, restore shareholder value."

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News: Sales continue to slide for Crawshaw

The Rotherham-based Crawshaw Group Plc, the UK's leading value butcher, continues to find it tough going in the current UK retail sector.

The AIM-listed Hellaby firm reported a trading update ahead of its interim results which showed that sales continued to decline amid challenging trading conditions.

For the 20 weeks to June 17 2018. Group sales were at -1.6% with like-for-like sales down 12.9% for the same period. Since then, half year like-for-like sales were down 13.2% on the previous year. Group sales for the first half of the year were £21.6m, down on the £22.1m reported in the same period in 2017.

The company's directors add that it expects the full year Group sales to January 2019 to be flat on the previous year and underlying operating loss of approximately £3m.

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Despite the good weather and England's progress in the World Cup, Crawshaw's board said in a statement that: "rising shop rents and high business rates along with lower footfall and increased discounter competition, has directly impacted sales and profitability as expected."

Crawshaw has undergone a transition to focus more on factory store locations and continues to open new stores. The Group said it had £3.3m in cash at July 29, down from £4.7m at January 28 2018).

The statement to the stock exchange concluded: "The new leadership team who joined the business in late May have identified the core issues affecting the business and will announce how it plans to rectify those issues and drive the business forward with its interim results. The Group has maintained margin investment in response to the continued competitive environment."

The results are due to be announced on September 26.

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News: Crawshaw staking future growth on factory stores

The Rotherham-based Crawshaw Group Plc, the UK's leading value butcher, has continued to be hit by challenging high street trading conditions.

The AIM-listed Hellaby firm reported a trading update ahead of its Annual General Meeting (AGM) which looked at the 20 weeks to June 17 2018. Group sales were at -1.6% with like-for-like sales down 12.9% for the same period.

Crawshaws said that the trading performance of high street shops remains challenging and "reflects the widely reported lower footfall and softer consumer sentiment." However, it added that the factory shop format continues to perform well in this environment.

The results follow on from disappointing financial results for the year to January 28 where group revenue rose 1% to £44.6m but there was an underlying operating loss of £2.0m, an increase from the £1.1m loss reported in 2017.

The group also reported a statutory loss before tax of £13.5m, compared with a loss of £1.4m the previous year, due to a one off non cash impairment charge of £10.6m and £0.8m exceptional costs.

A transformational 2017 deal with the 2 Sisters Food Group enabled Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

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The pre-AGM statement added: "There are numerous key sales-driving and cost-saving initiatives currently being undertaken to improve performance in our high street estate including the strategic development of our central production to enable us to re-align the store labour model and improve instore efficiencies while promoting our high standards of customer service. With these initiatives well underway, we believe the majority of our high street stores are capable of generating an improved return.

"We continue to work through this period of transition as we rebalance the portfolio away from its historical dependence on high streets and towards the unique and successful factory shop format, which underpins the long-term profitability of the business. We have opened a further two factory shops in the year taking our total to 12 within the estate and these shops are trading in line with the Board's expectations. We plan to open a further three new shops of this type during the remainder of current financial year."

Jim Viggars, Chief Executive Officer at Crawshaw plc, said: "Whilst the trading performance in our high street estate remains challenging, our team of great colleagues will strive to capture available growth. Our factory shops continue to perform well, and I am confident that repositioning the Group towards the successful factory shop model will strengthen Crawshaws' position as the country's best value butcher and improve the long-term profitability of the business."

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News: Rotherham's inspirational SMEs

Five Rotherham-based firms have been included in the London Stock Exchange Group's "1,000 Companies to Inspire Britain" report, which identifies the UK's most dynamic and fastest growing small and medium sized enterprises (SMEs).

Now in its fifth year, the report shows that those included SMEs are growing at 71% on average and that one third of them come from the Northern Powerhouse and Midlands Engine regions. 70 SMEs on the list are based in Yorkshire and companies were selected based on combined key financial performance indicators and sector benchmarks.


Staying on the list from 2017, Rotherham-based Bluetree Design and Print, Crawshaw plc and Wilsons Carpets are joined by Pricecheck Toiletries and Empire Tapes.

The Bluetree Group operates through a number of different brands, including Route 1 Print and instantprint. The £30m turnover group moved to bigger Rotherham premises in 2015. Funding from Barclays and the Sheffield City Region Growth Fund Programme enabled the company to take a new 86,900 sq ft site at Brookfields Park in Manvers. Staff numbers have passed the 250 mark.

Crawshaw Group Plc is the UK's leading value butcher. The AIM-listed firm is based at Hellaby and a transformational deal with the 2 Sisters Food Group in 2017 enabled Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

Established in 1968, Wilsons Carpets is a family firm specialises in carpets, laminate, rugs, vinyl flooring and artificial grass. Headquartered at Houndhill Park, Manvers, it has grown to run 15 stores across Yorkshire and Lincolnshire, with one of the largest now at The Gateway in Parkgate, Rotherham.

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Fast-growing supplier of international branded consumer goods, Pricecheck Toiletries, is celebrating 40 years in business this year and is heading past the £70m annual turnover mark. Officially opening in 2016, new premises at Beighton Link Business Park in Rotherham matched the firm's ambitious future growth plans, with the 115,000 sq ft warehouse able to accommodate 40% more than previously achievable and offices that tripled in size. The business now boasts a total of 170,000 sq ft and aims to reach £200m turnover by 2025.

Founded in 1993 and with its base at Manvers, Empire Tapes are manufacturers, rewinders and converters of adhesive tape. Earlier this year it bagged new banking facilities from Barclays to support expansion plans and the launch of a new product called "Pro Tape" which has been endorsed by Yorkshire boxer Nicola Adams and was used by Conor McGregor in the recent training camp and fight with Floyd Mayweather.

David Warren, interim CEO and group CFO of the London Stock Exchange Group, said: "1,000 Companies to Inspire Britain 2018 clearly illustrates the economic potential of the UK's SMEs and underlines the diversity and resilience of these businesses. Their geographical and sector variety lays the foundation for a diverse and balanced economy, enabling the skills and entrepreneurship of many thousands of people to flourish.

"Our role and that of the Government and the financial ecosystem is to ensure that high-growth businesses receive support to realise their growth potential. This not only benefits the companies, but the UK economy as a whole, by creating the jobs of tomorrow."

The Rt Hon Philip Hammond MP, Chancellor of the Exchequer, added: "Small businesses are the backbone of the British economy with a combined annual turnover of £1.9 trillion and employ 60% of private sector workers outside of London. That's why, whether they are family run firms or tech start-ups, we are supporting high growth SMEs to achieve their potential."

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News: New execs for Crawshaws

Rotherham-based Crawshaw Group Plc, the UK's leading value butcher, has announced the appointment of Jim Viggars as chief executive officer and Nick Taylor as chief financial officer.

The AIM-listed Hellaby firm has been hit by challenging high street trading conditions and is refocusing its business model based on factory shop locations.

Crawshaw announced growth plans in 2014 that involved investing £200m, opening 200 stores and creating 2,500 jobs. The plans stumbled in 2016 as difficult trading conditions continued.

A transformational 2017 deal with the 2 Sisters Food Group enabled Crawshaw to restart its accelerated new store opening programme. The group now operates over 50 stores with more factory stores planned.

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Jim Viggars has over 30 years' experience within the meat industry across procurement, customer strategy and agriculture. Between 2005 and 2015, Jim was the head of the fresh meat department at UK supermarket ASDA. Prior to this he was Buying Manager for ASDA's pre-packed pies division and was previously a fresh meat buyer for the group. During 2015-2017 Jim was the sales director for UK Import & Distribution Services importing grass fed beef into Europe.

Nick Taylor joins Crawshaw having served as CFO of Janan Meat, the UK's premier dedicated Halal Lamb and Mutton meat processor, since January 2017. Prior to this Nick was finance director of the Egg products division at Noble Food Group, and between 2002 and 2015 he held a variety of roles, including that of finance director and general manager of the Doncaster site at the leading food processing company ABP Food Group.

In its financial results for the year to January 28 group revenue rose 1% to £44.6m but there was an underlying operating loss of £2.0m, an increase from the £1.1m loss reported in 2017. An announcement was made before the disappointing results that CEO Noel Collett would step down to pursue other opportunities and that CFO Alan Richardson would leave to take up an opportunity outside of the group.

Jim McCarthy, chairman of Crawshaw, said: "I am pleased to welcome Jim and Nick to Crawshaw. They both have clear commercial acumen and careers which are steeped in the industry. I am confident that their combined expertise, experience and outlook will help drive the Group forward."

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News: Crawshaw reports on disappointing year

The Rotherham-based Crawshaw Group Plc, the UK's leading value butcher, has been hit by challenging high street trading conditions and has been forced to make an impairment goodwill of £10.6m.

The AIM-listed Hellaby firm reported its financial results for the year to January 28 where group revenue rose 1% to £44.6m but there was an underlying operating loss of £2.0m, an increase from the £1.1m loss reported in 2017.

The group also reported a statutory loss before tax of £13.5m, compared with a loss of £1.4m the previous year, due to a one off non cash impairment charge of £10.6m and £0.8m exceptional costs. The company said in a statement that as part of the annual goodwill assessment, forecast future cash flows were adjusted to take into account the impacts of sterling depreciation on buying prices and expected wage inflation.

Crawshaw announced growth plans in 2014 that involved investing £200m, opening 200 stores and creating 2,500 jobs. The plans stumbled in 2016 as difficult trading conditions continued.

A transformational 2017 deal with the 2 Sisters Food Group enabled Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

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At the end of January, Crawshaw operated 52 trading stores, opening five new factory shops in the period and closing two underperforming high street units.

Sales from factory stores have offset sales from high street locations and the company is transitioning to a model based away from the high street. Now accounting for around a quarter of the group's sales, five to ten new factory stores are planned in the next 12 months.

Outgoing chief executive, Noel Collett, said: "This has been a disappointing year for Group sales. Whilst we have been pleased with the strong performance of our factory shop outlets, sales across our high street estate have proven more challenging, exacerbated by the well documented high street pressures.

"Against this, however, we have made operational progress to strengthen the business. We are confident that the rollout of our unique factory shops format and improvements in profitability across the high street estate will leave the Group well-placed for future growth."

Jim McCarthy, chairman of Crawshaw Group plc, added: "While sales for the year have been challenging, I am confident that the repositioning of the Group towards our successful factory shop model will improve long-term profitability.

"I expect to provide an update on a new management team in due course, who I am confident will help further develop Crawshaws' market leading value and drive improved performance in both factory shops and high street stores."

The report also showed that the company has created a central production capability at the Hellaby factory having invested in automated cutting and packing lines. This should enable a reduction in store-based staff who will re-focus from production to customer service. It also provides the capability to service the wholesale and catering butchery supply routes in the future.

A new leadership team is being sought as the CEO and CFO are set to leave the business later this year.

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News: Crawshaw Group loses two top execs

The man brought in to lead on a transformational growth plan at Rotherham-based fresh meat and food to go retailer, Crawshaw Group PLC, is to step down from his CEO role.

The AIM-listed Hellaby firm announced growth plans in 2014 that involved investing £200m, opening 200 stores and creating 2,500 jobs.

Noel Collett joined Crawshaw as chief executive officer from Lidl, having spent 16 years with the German discounter supermarket. He has now informed the Board of his intention to step down to pursue other opportunities but will remain in his role until a replacement CEO is appointed to ensure an orderly hand over.

The Group has also announced that Alan Richardson, chief financial officer, has notified the Board of his intention to leave the business in early May to take up an opportunity outside the group.

Jim McCarthy, chairman of Crawshaw Group, said: "The Board of Crawshaw thanks Noel and Alan for their contribution and wishes them success in their future endeavours. We anticipate being in a position to announce a new CEO and CFO in the near term who will help drive the business forward."

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Crawshaws expansion plans stumbled in 2016 as difficult trading conditions continued. As new stores opened, standardised offers and price points were also introduced into existing stores but the management admitted that they "didn't resonate as well with customers as we thought."

A transformational 2017 deal with the 2 Sisters Food Group enabled Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

These destination sites are seen as particularly attractive as they allow the retailer to offer even greater value to customers through larger pack sizes and value progression.

Following a busy festive period, which saw group sales in the week leading up to Christmas reaching a record £1.8m and almost 3,500 value meat hampers sold, the company has reported that "trading in the first six weeks of the new financial year has been challenging, exacerbated by the recent poor weather but the factory shop format continues to perform well."

Full Year Results are expected in April.

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News: Factory stores bring Christmas cheer for Crawshaws

Rotherham-based Crawshaw Group PLC, the fresh meat and food to go retailer, has given an update on the festive trading period which included its biggest ever Christmas week.

The AIM-listed Hellaby firm has a stratagy focused on accelerating the rollout of its factory shop format. These destination sites are seen as particularly attractive as they allow the retailer to offer even greater value to customers through larger pack sizes and value progression.

For the 15 week period to December 24 2017, total group sales increased by 0.6% compared to the same period in the previous year, with group gross margin also increasing by 0.6%.

Crawshaw said that it was making continued progress on its strategy and that the performance was underpinned by the strength of the growing factory shop format, which helped to offset the impact of lower footfall on the high street and the "overall softer consumer sentiment" which meant that group like for like sales were down by 6.1% and group like for like customers had reduced by 2.6%.

Festive trade saw group sales in the week leading up to Christmas reaching a record £1.8m and almost 3,500 value meat hampers sold.

Crawshaws now operates ten factory shops within its 54-shop estate, with five more planned for the year. Factory shops are expected to account for well over half of group revenue in 2020 and the new factory stores are on track to deliver a circa one-year cash payback. Factory shops are a simpler model to implement and operate, have lower rents and require significantly lower set up costs.

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In April 2017, heads of terms were agreed on a deal for 2 Sisters Food Group founder and chief executive, Ranjit Boparan (and connected party), to invest approximately £5.1m for a 29.9% stake in Crawshaw, with warrants to acquire a further 20.1% of the Group. The update said that the partnership, which includes an initial three-year supply agreement, is progressing well.

Overall, the board anticipates a period of transition as the necessary actions are taken to move the business towards the factory shop model.

Noel Collett, CEO of Crawshaws plc, said: "On balance, this was a solid core Christmas trading performance against what remains a very tough high street environment. Our biggest ever Christmas week and the record number of meat hampers sold clearly demonstrates the trust our customers place in us for their most important meat spend of the year. This gives us a solid platform to improve trading momentum going into 2018.

"We continue to focus on strengthening Crawshaws' position as the country's best value butcher. We are excited by the performance of our factory shops and by the progress of our 2Sisters supply agreement and, while there is much to do, we remain confident that this combination will be transformational for the long-term growth of the company."

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News: Crawshaw confident despite drop in profits

Rotherham-based Crawshaw Group PLC, the fresh meat and food to go retailer, has given an update on its transitional plans.

The AIM-listed Hellaby firm announced growth plans in 2015 that included £200m of investment, opening 200 stores and creating 2,500 jobs. It secured new investment in April this year that was expected to enable the restart of its accelerated new store opening programme, with an initial focus on factory shop locations.

In its results for the 26 weeks ended July 30 2017, the board said that progress had been made against the strategy to position Crawshaws as Britain's leading value butcher.

The strategy is focused on accelerating the rollout of its factory shop format. These destination sites are seen as particularly attractive as they allow the retailer to offer even greater value to customers through larger pack sizes and value progression. Factory shops are a simpler model to implement and operate, have lower rents and require significantly lower set up costs.

Crawshaws now has eight standalone factory shop units and has reduced set up costs by 25% to aid future openings. The target rate is ten new shops a year, with factory shops expected to account for well over half of group revenue in 2020.

New stores in Liverpool and York are the latest openings.

Revenue for the group was up 2.3% to £22.1m but a loss before tax of £1.2m was reported. Losses had widened from the loss of £0.4m reported in the same period last year. Like for like sales were down 4.2%.

Crawshaw said it had re-established its customer base but margins were being affected by a weakness in sterling.

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In April, heads of terms were agreed on a deal for 2 Sisters Food Group founder and chief executive, Ranjit Boparan (and connected party), to invest approximately £5.1m for a 29.9% stake in Crawshaw, with warrants to acquire a further 20.1% of the Group.

The deal, which saw Boparan become an advisor to the Crawshaw Board, also includes an initial three-year supply agreement for Crawshaw to acquire fresh meat and other products from 2 Sisters, one of Europe's largest meat and food producers.

Noel Collett, CEO at Crawshaws plc, said: "These results demonstrate progress in ensuring we have high quality products at the lowest possible prices. The improvements to the breadth, depth and price of our ranges are driving the significantly improving trend in customer numbers, which is a key metric of loyalty and success in preparation for the important winter and festive season ahead.

"As part of our focus on achieving unbeatable value, we are prioritising and accelerating the rollout of our proven factory shop format. The economics of these sites are hugely attractive, and they allow us to offer a wider range of fresh meat and associated products at a price not possible in our high street shops.

"We remain excited by our 2Sisters supply agreement and believe this partnership will be transformational for the long-term growth of the Group. Market conditions remain challenging, but we are confident that our focus on value leaves us well placed for the long-term."

Jim McCarthy, chairman of Crawshaw plc, added: "Since joining Crawshaws earlier this year, I have been impressed by the progress that Noel and the team are making. The accelerated roll out of the successful factory shop format is strengthening the business's reputation for delivering amazing value, which is underpinned by the transformational supply agreement with 2Sisters.

"Crawshaws is one of the most exciting businesses in the value sector and the Board is confident that all the work done this year means the business is well set to create value for investors."

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News: Crawshaw making progress on transitional plans

Rotherham-based Crawshaw Group PLC, the fresh meat and food to go retailer, said that it was making good progress following the transformational deal with the 2 Sisters Food Group.

The AIM-listed Hellaby firm announced growth plans in 2015 that included £200m of investment, opening 200 stores and creating 2,500 jobs. It secured new investment in April this year that is expected to enable Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

In April, heads of terms were agreed on a deal for 2 Sisters Food Group founder and chief executive, Ranjit Boparan (and connected party), to invest approximately £5.1m for a 29.9% stake in Crawshaw, with warrants to acquire a further 20.1% of the Group.

The deal, which saw Boparan become an advisor to the Crawshaw Board, also includes an initial three-year supply agreement for Crawshaw to acquire fresh meat and other products from 2 Sisters, one of Europe's largest meat and food producers.

At this afternoon's AGM of Crawshaw Group Plc, Noel Collett, will give a trading and strategic update for the 20 weeks trading to June 18 2017 in the current financial year.

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Following the 2 Sisters deal, Crawshaw said it was "making good progress on the transitional plans and operational synergies that will deliver the expected customer and financial benefits."

Group sales were up 5.1% for the first 20 weeks of the financial year with like-for-like sales down 4.5% for the same period. The trading performance of the business continues to be stable following the improvement in like-for-like sales from the initiatives introduced throughout the estate.

Three factory shops have recently opened and plans are in place to open a further four new shops of this type in the balance of the current financial year from a strong pipeline of potential sites.

Noel Collett, chief executive officer at Crawshaw, said: "We are pleased with the progress we've made and the continued level of stability achieved in the core business against the current backdrop of industry-wide cost pressures and a challenging consumer environment.

"Our new fresh meat factory shops continue to perform well and we are further encouraged by our most recent opening at Crystal Peaks, Sheffield. Our strategic focus for the rest of this year will be to open four more fresh meat factory shops and to ensure that we are maximising the customer and financial benefits of the new supply partnership across the estate."

Operating from 49 stores, turnover for the full year ended January 29 2017 was up 19% at Crawshaw to £44.2m from the £37.1m reported in the previous year. Investing in expansion plans, the group made a loss before tax of £1.4m, an increase on the loss of £0.3m in the previous year.

The group is expecting its cost management measures and margin additive initiatives, together with the expected cost reduction in business rates, to offset a challenging UK consumer outlook.

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News: Crawshaw hits 50

Crawshaw Group PLC, the Rotherham-based fresh meat and food to go retailer, is heading past the 50 store mark with a new outlet close to home at the Crystal Peaks Shopping Centre in Sheffield.

The AIM-listed Hellaby firm announced growth plans in 2015 that included £200m of investment, opening 200 stores and creating 2,500 jobs. It secured new investment in April this year that is expected to enable Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

The new store in one of the centre's exterior units will be opening this week next to McDonald's and opposite supermarket Sainsbury's. It was previously home to Blockbuster.

Lee Greenwood, centre manager at Crystal Peaks, said: "We are delighted to be welcoming another great high street name to the Crystal Peaks family of shops. Crawshaw's is one more exciting new name joining the complex as we look forward to building on our current success in the second half of 2017.

"Through 2016 we attracted 13 million visitors to Crystal Peaks and by continuing to attract the best names on the high street we can expect to further improve on that figure, ensuring we offer everybody a great shopping experience."

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Operating from 49 stores, turnover for the full year ended January 29 2017 was up 19% at Crawshaw to £44.2m from the £37.1m reported in the previous year. Investing in expansion plans, the group made a loss before tax of £1.4m, an increase on the loss of £0.3m in the previous year.

With a more disciplined approach to growth, Crawshaw said that it has a sufficient pipeline and capability to open a further four factory shops during the current financial year.

Noel Collett, chief executive officer at Crawshaw plc, said: "The UK grocery market will remain competitive and, with industry-wide pressures emerging in commodities and labour costs, the UK consumer outlook will continue to be more challenging than we have seen in recent years. Whilst we would ordinarily expect these to have a modest impact on margin in the short term we believe that, with our cost management measures and margin additive initiatives, together with the expected cost reduction in our business rates, we are well placed to navigate through this challenging environment.

"This year has started in line with our expectations as we continue to build on the momentum and improvements from the last six months.

"Our clear value proposition, underpinned by our unique vertically integrated concept, remains highly differentiated and competitive which we believe will further strengthen our retail offering. Furthermore, with the performance of our standalone factory shops being a real highlight of the year, we are very excited at opening more of this format."

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News: Rotherham companies to inspire Britain

Rotherham-based Bluetree Design and Print, Crawshaw plc and Wilsons Carpets have all been named on a report that identifies the fastest-growing and most dynamic SMEs across the UK.

Now in its fourth year, The London Stock Exchange Group's (LSEG's) 1,000 Companies to Inspire Britain has gained real prominence among UK businesses. The annual report identifies the UK's most dynamic SMEs and high growth potential companies across sectors and regions, highlighting the best of British small business. It shows companies growing at 70% per year, up from 50% last year.


Fast-growing print experts, Bluetree Design and Print Ltd moved to bigger Rotherham premises in 2015, taking on new staff. Established in 1989, the firm, previously at Templeborough, has evolved from a traditional screen printer to a predominantly digital offering. It took space at the Ignite @ Magna development in 2007 and in 2012 the business merged with instantprint.co.uk to provide a multi-channel offering.

Funding from Barclays and the Sheffield City Region Growth Fund Programme enabled the company to move to a new 86,900 sq ft site at Brookfields Park in Manvers. Staff numbers have passed the 250 mark.

Last year, instantprint cemented its place in the Sunday Times Virgin Fast Track 100 when it was ranked 88th (3rd in Yorkshire) after seeing its revenue grow by an average of 54% per year over the past three years. It became the first Rotherham-based company to make the list in 2015. instantprint posted sales of £19.9m at the end of April 2016.

The group offers a range of online print products through the instantprint, Bluetree and Route One Print brands. Customers range from sole traders to multinationals and the company claims it prints 450,000 business cards a day.

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Crawshaw plc is an AIM-listed fresh meat and food to go retailer based at Hellaby that is undergoing growth plans that will see it invest £200m, opening 200 stores and creating 2,500 jobs.

Results for the full year ended January 29 2017 included turnover up 19% to £44.2m from the £37.1m reported in the previous year. Investing in expansion plans, the group made a loss before tax of £1.4m, an increase on the loss of £0.3m.

The group, which has the former CEO of Lidl in the UK and the former boss of budget chain Poundland on its executive team, recently concluded a deal with that will see 2 Sisters Food Group founder and chief executive, Ranjit Boparan (and connected party), invest approximately £5.1m for a 29.9% stake in Crawshaw, with warrants to acquire a further 20.1% of the Group. The new investment is expected to enable Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

Wilsons Carpets, the flooring retailer, also made the list. Last year plans were submitted for a new purpose built 55,000 sq ft distribution warehouse in Rotherham that would be the foundation for growth and a national roll-out.

Established in 1968, the family firm specialises in carpets, laminate, rugs, vinyl flooring and artificial grass. Headquartered at Houndhill Park, Manvers, it has grown to run 13 stores across Yorkshire and Lincolnshire, with one of the largest now at The Gateway in Parkgate, Rotherham.

Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, said: "I want to congratulate the 1,000 companies from across the UK featured in London Stock Exchange Group’s pioneering 1000 Companies to Inspire Britain report. Championing high growth innovative SMEs is crucial for the continued success of the UK economy and a country that works for everyone. We are committed to ensuring that companies of all sizes can access finance to grow, scale-up and create high quality well-paid jobs across the country."

Xavier Rolet, CEO, London Stock Exchange Group, added: "Four years on, LSEG's "1,000 Companies to Inspire Britain" report continues to highlight the dynamic, entrepreneurial and ambitious businesses across the country that are boosting UK productivity, driving economic growth and creating jobs. The strength and diversity of these companies is readily apparent with a broad mix of UK regions and sectors represented. These companies are the very heart of an "anti-fragile" economy: more robust; more flexible and less prone to boom and bust. We must ensure we continue doing all we can to support high growth potential businesses like these.

"London Stock Exchange Group is fully committed to supporting and implementing initiatives which improve access to and cut the cost of finance for growing companies. We welcome the Government's focus on supporting SMEs as part of its Industrial Strategy and await the outcome of its review into long-term patient capital."

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News: Ranjit Boparan taking £5m stake in Crawshaws

Crawshaw Group PLC, the fresh meat and food to go retailer, is hailing a transformational deal with the 2 Sisters Food Group that includes Ranjit Boparan becoming a significant shareholder in the Rotherham-based business.

The AIM-listed Hellaby firm is undergoing growth plans that will see it invest £200m, opening 200 stores and creating 2,500 jobs. The new investment is expected to enable Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

Heads of terms have been agreed on a deal that will see 2 Sisters Food Group founder and chief executive, Ranjit Boparan (and connected party), invest approximately £5.1m for a 29.9% stake in Crawshaw, with warrants to acquire a further 20.1% of the Group.

The deal, which sees Boparan become an advisor to the Crawshaw Board, also includes an initial three-year supply agreement for Crawshaw to acquire fresh meat and other products from 2 Sisters, one of Europe's largest meat and food producers.

Crawshaw said that it would use its unique vertically integrated capability to take supply of quality fresh meat, poultry and other grocery products from the supply/demand imbalances, which prevents creation of unnecessary food waste.

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Noel Collett, chief executive of Crawshaw Group said: "This is a transformational partnership for the Crawshaw Group with a significant opportunity to offer a greater range and better availability to our customers. This new relationship provides a catalyst to our accelerated growth, both in sales and profitability."

"We very much welcome the 50/50 equity split as it reflects the symbiotic nature of the partnership and aligns both our interests to achieve maximum shareholder value. The two-stage subscription including conditional warrants will allow the commercial benefit to be demonstrated as part of the process."

Ranjit Boparan, chief executive of Boparan Holdings Ltd, added: "This is a great opportunity that complements our corporate social responsibility policy and our aim to reduce levels of quality food that would otherwise go to waste. Our businesses have a significant number of opportunities to work through together in the coming weeks and months."

The announcement of the deal comes at the same time as Crawshaw announced its final results for the full year ended January 29 2017.

Turnover was up 19% to £44.2m from the £37.1m reported in the previous year. Investing in expansion plans, the group made a loss before tax of £1.4m, an increase on the loss of £0.3m.

The expansion plan stumbled a little in 2016. As new stores opened, standardised offers and price points were also introduced into existing stores but the management admitted that they "didn't resonate as well with customers as we thought."

Changes were made to give store managers flexibility to re-introduce local products, sizes, price points and offers that were previously on sale in their specific store.

Collett added: "By listening to customers and focusing on the demands of each store's individual local community, we have seen a sharp recovery in both sales and customer numbers throughout the second half of the year."

The group opened 11 new stores during the period and now operates from 49 sites. It reported like for like sales down -7.3% for the full year.

2018 will see a disciplined approach to its growth strategy with a focus on factory stores which have higher sales, lower operating costs and lower fit out costs than units on the high street and in shopping centres.

It was also announced that Richard Rose is to retire after 11 years as chairman of the Group. Jim McCarthy, former boss of budget chain Poundland, is set to replace him in the role.

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News: Crawshaw encouraged by Christmas trading

The board of Rotherham-based fresh meat and food to go retailer, Crawshaw Group PLC is encouraged by the response to the changes it was forced to make in the light of falling sales.

The AIM-listed Hellaby firm confirmed a reduction in like for like sales towards the end of 2016 but added that expansion will continue. Growth plans involve the investment of £200m, opening 200 stores and creating 2,500 jobs.

An update on Christmas trading for the five week period to January 1 2017 stated that the company has continued to build on the progress noted November with improvements in sales and customer numbers being maintained through December.

Group sales were up 13% in the five week period versus the prior year, with total customer numbers also up 13% for the same period. Like-for-like sales were still down on the previous year at -3.8% but up from -8.1% for the four weeks ended November 27 2016. Like-for-like customer numbers were -4.2% having improved from -9.7% for the same periods.

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The group now operates 50 stores with the latest opening in Gorton, Manchester.

As new stores opened, standardised offers and price points were also introduced into existing stores but the management admitted that they "didn't resonate as well with customers as we thought."

Changes were made to give store managers flexibility to re-introduce local products, sizes, price points and offers that were previously on sale in their specific store.

On Christmas trading, Noel Collett, CEO of Crawshaw, said: "We continue to be encouraged by the customer response to the recent changes we've made which have translated into further progress over the festive trading period. Our new hamper range was particularly well received with almost 3,000 hampers sold in the Christmas week.

"Our focus will continue to be centred on anchoring our value credentials and we will step up our marketing activity to maintain our current momentum in building customer frequency and loyalty."

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News: Crawshaw's sales growth restoration plan

Rotherham-based fresh meat and food to go retailer, Crawshaw Group PLC has confirmed a reduction in like for like sales but expansion will continue.

The AIM-listed Hellaby firm is undergoing growth plans that will see it invest £200m, opening 200 stores and creating 2,500 jobs. As new stores opened, standardised offers and price points were also introduced into existing stores but the management has now admitted that they "didn't resonate as well with customers as we thought."

In the six months ended July 31 2016, total revenue for the group increased by 29% to £21.6m from the £16.7m reported in 2015. Like-for-like sales however, dropped by 4.4%. Gross profit increased by 31% to £9.8m and EBITDA (earnings before taxes) was £0.3m (2015: £0.5m) with increased operating costs offsetting sales and margin growth.

Crawshaws described the year ending January 31 2016 as a "transformative year" with a new management team and the appropriate infrastructure in place to deliver the rapid growth plan. The following six month saw phase one of the rollout programme complete with the delivery of nine new trading stores across the period. The total number of stores is now 49.

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The group reported record sales for the previous year but the update to the stock exchange explained that sales had dropped since. Standardised offers and prices were introduced and initial results were encouraging, with strong like-for-like sales and margin through the middle of last financial year. With customer loyalty initially translating into additional sales through bigger, better value packs at higher price points in the first instance, this gave way to waning loyalty and lower sales through the first half of this year.

Sales in the the first seven weeks of the second half of the year have continued to be lower, with like-for-like sales tracking at -15.8%.

Noel Collett, CEO at Crawshaw Group, said: "We have now identified the cause of this sales underperformance by spending a great deal of time in stores with our customers and colleagues. The feedback from these visits was relatively straightforward. Our customers want to see some of the old fresh meat pack sizes, price points and offers that were previously on sale in their specific store.

"As a result, we have made immediate changes to give store managers flexibility to re-introduce local ranging products which has been positively received. We have also significantly increased the number and depth of price-led promotions on fresh meat with managers being given the flexibility to choose the promotions that resonate most with their customers."

Expansion will still continue but the board has taken the decision to open up to 12 stores this year as opposed to the 15 originally planned. The group has found success with its new factory shop location and is planning the trial of up to two further factory shops this year.

Collett concluded: "We are acting quickly to restore sales momentum and feel that this can be achieved in readiness for the important winter and festive season.

"Management focus over the next months will be on supporting stores to deliver for our customers and restore sales momentum in like-for-like and newly opened stores.

"We believe our actions can restore sales momentum, and we will invest in margin to sharpen our value proposition to win back customers and drive sales. We are disappointed with current trading and clearly the outlook for the full year will depend on the result of our actions, upon trading during the important winter and festive season, and upon the timing of our store openings. At this stage, however, we expect our full year profit to be materially lower than our previous expectations."

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News: Crawshaw confident of restoring momentum after dip in sales

Having delivered record sales growth in the last financial year, Rotherham-based fresh meat and food to go retailer, Crawshaw Group PLC has reported a further reduction in like for like sales since then.

The AIM-listed Hellaby firm is undergoing growth plans that will see it invest £200m, opening 200 stores and creating 2,500 jobs.

At the firm's AGM on in June it was announced that the Group had, during the prior couple of weeks, experienced some suppressed footfall patterns caused by a combination of the international football, adverse weather and Brexit. In a trading update, the group said that these factors persisted through to the end of the half year period, resulting in a further reduction in like for like sales for the half year, although this was partly mitigated again by a further strengthening of gross margin.

Crawshaws described the year ending January 31 2016 as a "transformative year" with a new management team and the appropriate infrastructure in place to deliver the rapid growth plan.

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Reporting its full year results, Crawshaws saw turnover increase by 51% to £37.1m compared to the £24.6m in the previous year.

Conditions have remained difficult in the weeks since the period end and supermarkets have very recently launched some aggressive meat promotions.

Crawshaw's share price dropped by almost a half on the news and the company said that it was reacting to ensure it maintains the value-led approach that has proved successful in the past. This includes introducing more local choice and lower price point packs. The retailer has been reducing the number of price-led promotions and drive higher margin lines.

With the success of its out of town factory store at Hellaby, the group said it was reviewing its store roll out strategy with a view to adding more of these types of openings.

The trading update concluded: "We are confident our actions can restore sales momentum, and we will be prepared to invest in margin to drive sales and sharpen our value proposition. We are disappointed with current trading and clearly the outlook for the full year will depend upon the result of our actions, upon trading during the important peak winter and festive season, and upon the timing of our store openings."

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News: New hires for listed Rotherham retailers

Crawshaw Group PLC, the Rotherham-based fresh meat and food to go retailer, has appointed another senior industry figure to its management team as it continues its growth plan.


The AIM-listed firm is based at Hellaby and has set itself an ambitious target of 200 shops within eight years. The plan involves investing £200m and creating 2,500 jobs. In 2014 it announced details of the placing of new shares in a bid to raise nearly £9m to support the acceleration of its store opening programme. To deliver the plan, Noel Collett, formerly Lidl's chief operating officer for the UK business, was appointed as CEO at Crawshaw.

Now Ken McMeikan (pictured) has been appointed as a non-executive director, bringing 25 years' worth of senior retail experience. McMeikan is moving from the position of group CEO of the Brakes Group, a leading pan-European foodservice company, a position he has held since 2013. Prior to this, McMeikan was group CEO of Greggs Plc, the UK's leading bakery food-on-the-go retailer, a position he held from 2008-2013. Additionally, Ken has a combined 18 years of senior retail experience with both Tesco and Sainsbury's. 

Richard Rose, chairman at Crawshaw Group, said: "We are delighted to announce today the appointment of Ken McMeikan as a non-executive director of Crawshaw. Ken brings a wealth of foodservice, food retailing and high street experience along with expertise in business strategy development during periods of accelerated high street expansion and sales growth. We are excited by Ken's appointment and look forward to him further strengthening our senior management team during our growth phase."

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The company also updated the stock market with a trading and strategic update for the 20 weeks June 19 2016. Group sales were up 37% for the first 20 weeks of the financial year with like-for-like sales down 1.9% for the same period. The company put this down to soft retail conditions on the High Street.

The rollout plan continues with an additional eight trading stores already opened in the financial year to date, taking the portfolio to 47 stores. In June Crawshaws opened its first standalone fresh meat factory shop in West Bromwich with a second set to open in the summer. A first fresh-meat-only store on the high street, which unlocks further opportunities to expand into smaller footprint retail space, is also scheduled to open.

Noel Collett, CEO at Crawshaw Group, said: "We have made a good start to the year. Our trading performance has been in line with expectations as we effectively manage the balance of sales and margin in our like-for-like estate, and our growth strategy continues to progress well.

"In the last couple of weeks, we have seen some distorted and suppressed footfall patterns created through the combined impacts of the start of the international football championships, the adverse persistent weather and the build up to the EU Referendum. It is too early to judge if the vote to leave the EU impacts consumer confidence in the medium term, but clearly our retail format of quality fresh meat at value prices means we are well placed to delight new and existing customers with our offer should disposable income become stretched."

Rotherham-based United Carpets, the second largest chain of specialist retail carpet and floor covering stores in the UK, has appointed its operations director Paul Newton as an executive director.

Having worked in the flooring sector for some 31 years, Newton has been operations Ddirector at United Carpets since September 2011, having previously held senior executive roles in two major flooring retailers. He is responsible for the retail operations of the company's network of corporate and franchised stores.

Paul Eyre, chief executive at United Carpets, said: "We are delighted to announce the appointment of Paul and would like to welcome him to the Board. With his extensive knowledge of the Company having worked with us for some six years, we are confident of his increased contribution to United Carpets."

In 2012, the Bramley-based, AIM-listed company underwent a pre-pack administration deal. It recently reported that the improved trading performance seen in the first half of the financial year ending March 31 2016 continued into the second half of the financial year. On a like for like basis, sales for the second half increased by 6.4% against the comparable period last year.

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United Carpets website

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