Booths goes into the red

Edwin Booth
Edwin Booth
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Preston-headquartered food and drink retailer Booths made a loss of £6.2m in its last financial year, it was revealed today.

​Floods damage, staff changes and the cost of new stores all pushed the Lancashire chain into the red, its latest accounts show.

The firm said sales were down by just 0.7 per cent, held back in part by continued food deflation in a highly charged retail market.

They were further affected by the closure of two key stores following the catastrophic flooding in Booths’ heartland.

And underlying trading profits reduced from £3.1m to £2.6m as a result of the turbulent retail market and the costs associated with opening and supporting four new stores in one year.

​Booth said the opening of four new stores - Hale Barns, Burscough, Poulton and St Annes and the closure of several others had put pressure on the business but it had shown resilence.

Chairman Edwin Booth said there “were key operating initiatives” in place to make Booths a better place to shop.

*For more on this story, see Tuesday’s Evening Post and leponline