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Weekly Roundup... 23 June, 2020

Published on Jun 23 2020 10:15 AM

Weekly Roundup... 23 June, 2020

Nolan’s of Clontarf in Dublin has produced a new promotional video. The grocery outlet completed a major revamp and extension of its premises in September 2019. 'The overall Nolan's redevelopment project is still a work in progress and represents a several million euro investment,' the owners said. 'Proudly independent since 1958', Nolan's Supermarket Ltd is owned by the Nolan family. 'As the many positive comments from customers who viewed this video on Facebook show, the store is much loved by long-standing and regular shoppers in Clontarf and beyond,' it added. Watch the video here.

The Restaurants Association of Ireland (RAI) has said that up to 50% of restaurants in Ireland face closure unless an emergency grant aid package is issued by the government. This follows the release of a report on the consequences of not supporting the restaurant rector by Jim Power Economics, which states that the accommodation and food services sectors have been seriously damaged by the COVID-19 crisis. Economist Jim Power, who prepared the report, said: "The restaurant sector has been impacted in a devastating fashion by COVID-19. Once it reopens, the trading environment will be extremely challenging as a result of social-distancing requirements, various health protocols, the absence of overseas visitors, and consumer nervousness. The sector is a major employer all over Ireland and is an essential element of economic and social life, and is arguably the most important component of Ireland's tourism offering.

German dairy giant Deutsche Milchkontor (DMK) has posted sales amounting to €5.8 billion in its financial year 2019, up from €5.6 billion in 2018. The company’s equity capital ratio remained stable at 30%, while net income for the year amounted to €24.5 million. In 2019, the dairy company underwent a massive restructuring programme, which impacted its earnings and payment performance, reports esmmagazine.com CEO of the DMK Group, Ingo Müller, commented, “2019 has demanded an enormous amount from all of us, the farmers, the employees in the DMK Group and the entire industry. Our milk price was not where we wanted it to be in 2019.

SuperValu’s premises at the Pavilions Shopping Centre in Swords, Co. Dublin has reportedly been brought to the market by Savills on behalf of its owners, Aviva, at a guide price of €27 million. The store, which extends to 4,522sq m (48,674sq ft), is let on a 25-year lease from September 2005, leaving a weighted average unexpired lease term of 10.28 years reports the Irish Times. The current rent amount is in the region of €1.8 million per annum.

Louis Dreyfus Company has announced the launch of LDC Innovations, a corporate venture capital programme aimed at consolidating the company’s position as a key-value chain participant. As part of the programme, the company plans to invest in technologies and innovations that will help meet the global demand for healthy and nutritious products, which are also responsibly sourced and produced. Chief executive, Ian McIntosh, described it as a “positive step” in the company’s strategic growth plans and added, “Over the coming months, we will invest in early-stage companies with the potential to transform the food and agriculture industries.

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