It was amazing how many smiling faces there were around in the speciality food world last week with the bad news about Tesco on virtually every news bulletin for two days at least. I guess out colleagues, customers and suppliers were pleased to see the giant enemy taken down a peg or two after dominating the food spending in the UK for the last decade or two, and reaching a point where the previous CEO claimed that £1 in £7 was spent in his store - this isn’t just food spending but ALL high street spending.
Whilst we may not agree with its principals and reputation for screwing its suppliers so hard some of them go out of business, one has to stand back and admire what is one of the great successes of British business over the last 40 years. The British aren’t very good at admiring and respecting success and perhaps some of the good feeling last week was seeing a great success story enter into a period of failure. (more…)