Business

B&M Retailer Faces Financial Turmoil Following Accounting Mishap and Leadership Shake-Up

B&M European Value Retail’s stock plunged 15% as an accounting error involving £7 million in freight costs forced another profit warning. The retailer’s CFO Mike Schmidt will depart following the financial discrepancy, marking the second executive exit this year.

Financial Markets React to Retailer’s Setback

B&M European Value Retail saw its shares crash to their lowest level in nine years on Monday following the discovery of a significant accounting error, according to reports. The discount retailer’s stock reportedly fell 15% to 184.1p, reaching levels not seen since October 2016, as investors reacted to the company’s second profit warning in recent weeks.

InnovationStartups

Ireland Launches Circular Economy Startup Competition to Drive Sustainable Innovation

A new startup competition in Ireland aims to accelerate the transition to a circular economy. The awards program offers €10,000 in prizes and expert coaching for ventures demonstrating innovative circular solutions.

New Competition Targets Circular Economy Innovation

A significant new startup competition has been launched to advance Ireland’s transition to a circular economy, according to reports from Ireland‘s leading circular innovation network. The All-Island Circular Venture Awards, spearheaded by Circuléire with funding from the Irish Government, aims to identify and support late-stage startups with pioneering circular economy products and services.