CARGO CLUB FAILURE HITS NURDIN
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The failure of the Cargo Club warehouse format wrecked last year's results at Nurdin & Peacock, the cash and carry retailer. Cargo Club, a membership shopping concept imported from the United States, was launched with great fanfare in 1993 but failed to take off in Britain. N&P sold its three outlets to Sainsbury for £45m last month.
The £13m trading losses incurred at Cargo Club, together with other reorganisation and conversion costs, caused N&P's profits to halve in the year to December, from £32m to £16.5m.
Investment Column, page 34
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments