Our team has summarised the key developments for NI businesses in the news this week.
A Dungannon based snack company is making some noise after bagging a supply deal worth up to £500,000 with Tesco - Savoury nibbles maker Noisy Snacks, founded in 2018, will supply its full range of pulse-based healthy snacks to 688 Tesco Stores across Britain and Northern Ireland, and more than 100 more in the Republic. (Source: Newsletter)
ALDI has announced new multi-million euro supply deals with Bangor-based Clandeboye Estate Yogurt and cross-border co-operative Lakeland Dairies - The supermarket chain, which has no presence in Northern Ireland, announced four new contracts worth €26 million (£22.5m) at the Irish Ploughing Championships 2023 in Co Laois. Aldi said the new two-year contract extension with Clandeboye Estate Yoghurts, worth €9.9m (£8.6m), will see the Co Down food firm, continue to supply Aldi’s Irish operation with granola and Greek style craft yoghurts. But significantly, it will see Clandeboye also supply Aldi’s operation in Britain for the first time. The biggest deal announced on Thursday, worth €15.3m (£13.3m) with Lakeland, will see the island’s biggest dairy co-op continue to supply milk and dairy products, including Clonbawn fresh and light milk, to Aldi stores across the Republic. (Source: Irish News)
40 jobs have been lost after Belfast-based ecommerce and fulfilment company Selazar went into administration citing “liquidity challenges” - The company, which recently lost an employment tribunal case brought by a female director, was placed into administration on Thursday. Directors appointed Stuart Irwin and David Pike from Interpath Advisory as joint administrators. According to its latest accounts, the company suffered a financial loss of over £2.5m for the year ended April 2022. (Source: Belfast Telegraph)
Lifestyle retailer MINISO is set to open in three further locations by 2025 as part of an expansion plan supported by Ulster Bank. (Source: Belfast Telegraph)
Keady-based steel fabrication and manufacturing firm SFM Engineering is expanding its operations and increasing its workforce following a £3.5 million support package from Bank of Ireland. (Source: IrishNews)
Supermarket chain Lidl saw its profit in Northern Ireland cut by one-third last year due to rising costs. (Source: Irish News)
A new 81 room Premier Inn Hotel will be developed (close to Belfast International Airport) by Portadown firm JH Turkington & Sons and is expected to support 30 jobs across a 12 month period. (Source: NewsLetter)
The Bank of England has kept its interest rate unchanged for the first time in almost two years, signalling that they might have finally reached a peak after a lengthy run of hikes that has battered borrowers. (Source: abcnews)
UK inflation unexpectedly eased in August, down to 6.7 per cent from 6.8 per cent in July as food price inflation and hotel and restaurant price rises eased. (Source: The Times)
Alchemy Technology Services has announced its strategic acquisition of r10 Consulting, a London-based management consultancy for the insurance industry. (Source: The News Letter)
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