THE collapse of sales to the hospitality trade during lockdown has resulted in soft drinks giant AG Barr wiping £10 million from the value of its Strathmore water brand and cutting staff at its Forfar manufacturing site.

The £10m write-down on the brand and assets of Strathmore contributed to first-half profits at Barr plunging by 62.2% to £5.1m.

READ MORE: The Irn-Bru owner has removed 13 staff from the payroll in the Angus town after seeing sales to hospitality customers tumble by around 65 per cent during the six months ended July 25. Group sales to the hospitality market had collapsed by as much as 95% at the height of the lockdown, Barr said this  week.

A Highland joinery business has purchased and refurbished what was a popular food stop near Inverness to create its new head office, having secured a £255,000 funding package from Royal Bank of Scotland.

READ MORE: IBI Joiners, owned by Brian Innes and founded in 2004, is moving its headquarters to the former Highland Food Stop site from Culloden as it aims for further growth, targeting significant construction projects.

The UK’s financial watchdog has put forward proposals to end practices that result in returning customers paying more on their car and home insurance premiums than those purchasing a policy for the first time.

READ MORE: In its latest move to crack down on the industry, the Financial Conduct Authority (FCA) has proposed what it described as “radical” reforms to boost competition and deliver value. It estimates that if its proposals are accepted, customers could save £3.7 billion over 10 years.

The landmark Guildhall office building in Queen Street in Glasgow has been acquired for £30 million by Maya Capital.

READ MORE: Real estate specialist Jones Lang LaSalle said it had advised Maya Capital on a £21m financing for the acquisition of the building, which has around 145,000 sq ft of space and nearly 100% occupancy. 

A Glasgow-based property developer has struck a deal with an investment partner to acquire a disused railyard at Haymarket, where it will consider options to participate in the multi-million-pound rejuvenation of the area.

READ MORE: The development arm of London & Scottish Property Managemet has joined forces with GSS Developments to acquire the former goods yard at Haymarket Station for £1.62 million.

A prominent building in the heart of Glasgow’s International Financial Services District has been sold in one of the biggest office deals outside of London since the start of the Covid-19 pandemic.

READ MORE: 150 Broomielaw, the home of Scottish Enterprise by the side of the Clyde, has been purchased by Singapore-based Elite Partners Capital for circa £40 million. Previously owned by a Jersey Trust, the building was developed in 2001 and offers 96,759sq ft of Grade A office space over eight storeys.

A Scottish distillery has this week hailed a significant new supermarket deal.

READ MORE: McQueen Gin is celebrating after launching a new flavoured gin with Aldi in Scotland and securing a UK wide listing in the supermarket’s spirits festival.

Clydesdale Bank owner Virgin Money has said it expects to sign up another 100,000 small and medium sized enterprise customers after winning support under a controversial scheme to boost competition in the sector.

READ MORE: Glasgow-based Virgin Money has been allocated £35m in the latest round of Banking Competition Remedies (BCR) awards.

Ian McConnell: Pandora’s box of Brexit woe as Biden and Pelosi intervene

Mark Williamson: Changes in pensions industry bode ill for jobs

Scott Wright: What hope is there for retail when even John Lewis toils?

And finally ... from the bulletin: Plan to demolish offices for 'major development' in Edinburgh New Town | Supermarkets face £3.1bn in EU tariffs | Yodel to recruit 3,000

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