Thorntons plans to double its size
Wednesday 08 October 1997
The company, which yesterday reported full-year profits up almost a third, says it wants to expand more aggressively in London and the South, taking the number of wholly-owned Thorntons shops from 300 to over 500 in four years and creating 520 new jobs.
However Roger Paffard, the group's new-broom chief executive, said plans to consolidate chocolate packing on to one site in Derbyshire and automate processes like chopping toffee, traditionally done by hand, would mean slower growth in jobs in manufacturing. Thorntons plans to create 300 new manufacturing jobs over four years compared to over 600 which would have been needed without the restructuring.
Speaking after the company posted a 32 per cent rise in profits to pounds 11.5m in the year to June, excluding a pounds 21.7m restructuring provision in 1996, Mr Paffard said he was confident the market could support the group's expansion plans which include 80 new and re-sited shops this year.
Previous mistakes, which saw the opening of too many small outlets in hard-to-reach locations, would not be repeated, he said. A pounds 22m restructuring plan has involved expanding floor space to an optimum 450 square feet, siting stores in prime locations such as malls and shopping centres and locating in small market towns where competition is limited.
Thorntons is conducting trials of four branded coffee shops in the UK and launched a mail order catalogue in August.
- 1 Morgan Freeman on the riot-focused coverage of the Baltimore protests: 'F**k the media'
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 4 Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
- 5 Length of pregnancy can vary by up to five weeks, scientists discover
Boston Marathon runner's search for mystery man she kissed ends with letter from his wife
Saudi Arabia's King Salman sacks senior aide for 'slapping' a journalist behind him live on TV
Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
Italian police 'reveal' what Jesus looked like as a young boy
Florida couple forced to register as sex offenders for having sex on public beach
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...