More than 850 jobs could be lost after the administrators at an oil refinery failed to find a buyer or the cash needed to keep it going.
The Coryton plant in Essex, which is the biggest provider of petrol and diesel in the south east of England, was plunged into administration by its Swiss owner Petroplus in February.
The plant supplies 20% of fuel in London and the South East.
Administrators PwC said the site would be wound down over the next three months after the challenge of raising the £625m needed to fund the refinery proved too much.
There are likely to be a "substantial" number of redundancies among the 500 workforce, PwC said, while around 350 contractors will learn their fate in the next few days.
A spokesperson for the department of energy and climate change said: "It is disappointing that PWC has been unable to find a buyer for Coryton. This is particularly bad news for the workers at Coryton.
"The Job Centre Plus Rapid Response Service is available to support individual employees to re-enter the job market. Coryton’s workforce is highly skilled and well-positioned to take advantage of new opportunities.
"We want to reassure people that there will not be any impact on fuel supply from this development. Continuing jetty operations at Coryton means that there should be no loss of supply through the terminal to London and the South East.
"Closure of the refinery reflects overcapacity in the European refining sector and there have been a number of refineries have closed across Europe in recent years.
"We will continue to keep in close contact with the administrators PWC who are looking at further options for the future of the facility”.
Source: www.huffingtonpost.co.uk
ALDI Ranks Sixth on Greenpeace Annual Seafood Retailer Scorecard - Yahoo Finance
BATAVIA, Ill., May 21, 2012 /PRNewswire/ -- ALDI is ranked sixth on the Greenpeace 2012 Seafood Retailer Scorecard, climbing from seventh place on last year's ranking. The scorecard rates the seafood sustainability of grocery retailers nationwide.
The scorecard is part of Greenpeace's Carting Away the Oceans report, which has analyzed the practices of 20 top grocery retailers by measuring key seafood sustainability metrics since 2008. The report says that ALDI "continues to push forward in the development of what is becoming one of the country's leading sustainable seafood programs." It also recognizes ALDI as the first grocer in the United States to introduce comprehensive Food and Agriculture Organization of the United Nations catch area labeling on all fresh and frozen seafood products.
"We are so proud and honored to be named among the top 10 on Greenpeace's scorecard," said Jason Hart, president, ALDI. "We work closely with the Sustainable Fisheries Partnership and Global Aquaculture Alliance, and we are committed to continuing to find the most effective ways to source sustainable seafood."
Like all ALDI food products, ALDI seafood is also backed by the company's Double Guarantee. If for any reason a customer is not 100 percent satisfied with a food product, ALDI will gladly replace the food product AND refund the customer's money.
About ALDI Inc.
A leader in the grocery retailing industry, ALDI operates more than 1,200 U.S. stores in 32 states, primarily from Kansas to the East Coast. More than 20 million customers each month save up to 50 percent* on their grocery bills, benefiting from the ALDI simple and streamlined approach to retailing. ALDI sells more than 1,400 of the most frequently purchased grocery and household items, primarily under its exclusive brands, which must meet or exceed the national name brands on taste and quality. ALDI is so confident in the quality of its products, the company offers a Double Guarantee: If for any reason a customer is not 100 percent satisfied with any ALDI food product, ALDI will gladly replace the product and refund the purchase price. For more information about ALDI, visit www.aldi.us.
*Based upon a price comparison of comparable products sold at leading national retail grocery stores.
Source: finance.yahoo.com
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