A Chinese state-backed food company has renewed its hunger for British brands by holding talks to buy cereal business Weetabix, it has been reported.

DISCUSSIONS are ongoing between La Senza workers and administrator KPMG over redundancy payment and outstanding monies owed.

Lingerie chain La Senza collapsed into administration today triggering 1,300 redundancies and the closure of more than 100 outlets in the UK and Ireland.

Noodle chain Wagamama is to step up its restaurant opening programme after being snapped up by a private equity firm in a £215m (€244m) deal today.

Japanese-style noodle chain Wagamama is being put up for sale by its private equity owners, it was reported today.

Domestos detergent to Dove soap consumer goods giant Unilever is ready to fire the starting gun on the sale of its Italian frozen food arm, it was reported today.

The maker of upmarket Kettle Chips has been sold to a US snack firm after an auction valuing the business at more than £400m (€448m).

SHARES in Irish-Swiss bakery group Aryzta plummeted nearly 11% yesterday after one of its main independent shareholders disposed of its 5% stake in the business.

Insurers were back in the red today after Legal & General slashed its dividend for the first time in the group's history and posted plunging profits.

THE setback suffered by food giant Aryzta in Britain and Ireland, where food sales fell in the first quarter of its financial year, is hardly a big surprise.

The maker of Branston pickle and Hovis bread today said it was looking at ways to speed up the reduction of its £1.8bn (€2.3bn) debt mountain.

CAPVEST, the British-based specialistprivate equity firm rumoured to have been in the bidding to buy Breeo Foods, sold to Kerry Group for €165m, has announced the sale of the Foodvest Group to Lion Capital for a sum of over €1.26 billion.

ARYZTA, the company to be created by IAWS’s takeover of Hiestand, may sell a stake in Origin Enterprises to focus on its main business, according to NCB Stockbrokers.

THE collapse of a hedge fund last February looks to have paved the way for the move on Hiestand by IAWS.

Cuisine de France owner IAWS has announced a €2.3bn merger with Swiss bakery firm Hiestand. The Irish company already had a 32% shareholding in Hiestand.

ARGENTINIAN steakhouse Gaucho Grill, popular with many of Britain’s top footballers, has identified Ireland as a target for its expansion plans.

JAPANESE-STYLE noodle restaurant chain Wagamama was being linked to a possible £200m (€286m) stockmarket listing. The company, which has been owned by private equity firm Lion Capital since 2005, is said to be talking over its options with advisers.

Confectionery giant Cadbury Schweppes was today reported to have turned down a second offer worth between £6.4bn (€9.3bn) and £6.9bn (€10bn) for its drinks arm.

The prospect of an £8bn (€11.7bn) bidding war for the drinks arm of Cadbury Schweppes caused shares in the blue-chip company to surge ahead today.

Potato chip maker Kettle Foods was today bought by Lion Capital as part of a move to create the UK’s second-biggest snack business.

A CONSORTIUM of private equity firms was yesterday reported to be preparing a €1.4 billion bid for Unilever’s frozen foods arm which includes Birds Eye.

Cadbury Schweppes sold another non-core business today by agreeing to offload its Holland House brand of cooking wines for $37m (€31m).

DRINKS giant Pernod Ricard was given a clear run at Allied Domecq yesterday when a rival pulled out of the takeover race.

Drinks giant Pernod Ricard was given a clear run at Allied Domecq today when a rival pulled out of the takeover race.

A rival to Pernod Ricard has moved closer to launching a counter-bid for drinks group Allied Domecq, it emerged today.

PERNOD RICARD, owners of Irish Distillers, have reported a better than expected 8.4% rise in first-quarter sales.