Deathwatch: Are Thorntons about to be gobbled up by the current economic climate
If you or a loved one is a fan of receiving Thorntons chocolates at Christmas, this could be the last year that they get to wrap their gums around their milky, sugary treats. That’s because the company have issued a profit warning, in spite of the fact that they’re in the process of closing loss-making stores.
In September they announced a loss of £253,000 for the year to 25th June 2011, not good when compared to a £4.4m profit the year before, even though making lease payments on closed stores was cited as one of the reasons for the losses. They’re saying that they’ll ‘break even’ in the 53 weeks to 30th June 2012, but you never know – things are likely to get worser rather than betterer for them (yes, they ARE words) given the ‘current economic climate’.
Will Thorntons make it through the financial maelstrom that we’re living in at the moment or are they on the critical list, just like HMV and Blacks. Of course, there’s always the possibility that a carefully-timed profit warning is a guarantee of news coverage and it’s Christmas in four days time and you know, there’s no such thing as bad publicity and hmmm, eh?