London top of Deliveroo’s list
FOOD FIRM’S MOVE IS BOOST FOR CITY
DELIVEROO has chosen London to launch a stock market listing that could value the business at £8billion.
The food delivery giant claimed it proved the firm’s “commitment to making the
UK its long-term home”.
The move boosts Britain’s hopes of luring technology companies, and ensuring start-ups stay here.
Deliveroo tycoon Will Shu, the firm’s first rider when it started in London’s Chelsea area in 2013, is set to make a fortune from the stock market debut.
The company plans to use so-called dual shares, a change proposed this week which allows founders to retain control.
In preparation for its stock market listing, it appointed Lord Wolfson, boss of fashion giant Next, as a non-executive.
Online giant Amazon snapped up a stake in Deliveroo last year.
Chancellor Rishi Sunak took a break from this week’s Budget to back the business, calling Deliveroo “a true British tech success story”.
Shu said: “London is a great place to live, work, do business and eat. That’s why I’m so proud and excited about a potential listing here.”
As well as delivering for takeways and restaurants, the firm also has deals with Waitrose, Aldi, Morrisons and Co-op.
Roofoods, Deliveroo’s parent firm, saw revenue soar 62% to £771million in 2019, but losses rose from £243m to £317m.
Deliveroo has drawn criticism in the past about treatment of staff, and in 2019 riders protested about its pay structure.
Alex Marshall of the Independent Workers’ Union of Great Britain, said direct action would “continue unless workers are listened to”.
GREGG WALLACE’S BIG WEEKENDS AWAY Channel 5, 9pm NORTHERNERS, now is the chance to roll your eyes and say “I told you so”, as Londoner Gregg Wallace discovers the wonders of Yorkshire.
He’s in York, dubbed the capital of the North, for a weekend packed with history and food, all the ingredients for a cultural and hearty three-day break – if we’re ever allowed one.
Gregg, a man with boundless enthusiasm, is staying in a hotel with a 1,000-year history and a four-poster bed, and he’s delighted. “You can feel the history coming out of the walls,” he says.
Diving into the nearest bakery, he samples some parkin. If you’ve never heard of it, you’re probably from the South.
He says: “It’s gooey goodness. “I’ve got a great sweet tooth and I’m going to get through as many of these as I can.”
In more Yorkshire food news, he tries a Fat Rascal – which he declares is a bit like a scone – a curd tart, a Yorkshire pudding wrap and there’s time for a pie and a pint.
He also meets Michelin-starred chef Tommy Banks, who whips up a meal with local produce, declaring it the “best in the world”.
There’s time for some culture, of course, with a visit to York’s massive Gothic cathedral, the Minster, as he joins stonemasons on a heady tour up to the top, then strolls the city’s walls.
But it comes back to food in the end as Gregg discovers the city’s chocolate-making roots – and even makes his own personalised choccie bar.
Turns out it’s not so grim up North after all...