As first reported in DI's sister publication Drinks Retailing, Emma Fox highlighted the impact of global market conditions, high inflation, and increasing national insurance (NI) contributions as factors contributing to the company’s decision.

“Like many businesses, we are having to make some very difficult but necessary decisions in the face of extremely challenging global market conditions, as well as significant cost pressures, high inflation and recent increases in NI contributions,” Fox said in a statement.

Fox said the company is committed to supporting employees through the process.

“We are doing everything we can to support all of our dedicated colleagues and especially those affected by this announcement,” Fox added.