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A stark warning on Monday from Britain's biggest wine supplier about the Government's ruinous duty regime. Constellation Brands of America, the world's largest wine company, has laid off 50 employees here after the 8 per cent duty increase in the Pre-Budget Report and is giving warning of further job cuts unless there is a rapid change of policy.
The company, which controls Matthew Clark, the drinks distributor, sells about 25 million cases in Britain of wines such as Hardys, Nobilo and Banrock Station. But Troy Christensen, president of Constellation Europe, said: "If there's another duty increase, then the only thing you can do is reduce your local investment even further".
Christensen, who claimed the two duty rises this year had cost the company £50 million, said that in addition to futher job cuts there could be a sharp reduction in promotional investment.
In a bleak assessment, he added: "We are a global company and we tend to put investment in countries that produce the best returns. At the moment, there are a lot better opportunities elsewhere in Europe."
Trip down memory lane with old friends of Ross
I bumped into an old schoolmate of David Ross and Charles Dunstone, the Carphone Warehouse co-founders, the other evening. He reckoned that Dunstone, who was known as "stubber" because of his penchant for the odd cigarette, was "a great guy" who was well liked by everybody. As for Ross ... well, perhaps one shouldn't kick a man when he's down.
- With corporate funding for Christmas parties in short supply, news reaches me of a clever ploy by the sales team at Oriel Securities to fund last week's festive lunch. The sales desk, which boasts several racing enthusiasts, held a £20-a-head whip-round among the dozen-strong team. It then fell to salesman Richard Kirkham to take the cash and make a selection from the 12.10 at Huntingdon. I am delighted to report that a sandwich and a pint was transformed into steak and claret when 13-2 chance Circus Rose romped home to guarantee the afternoon's merriment.
(From: www.21food.com)
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