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The History of Paynes

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Introduction

The History of Paynes George Payne and company first became a limited company on the 17th of April 1896. Some of the reasons it became a limited liability company were that with tea and coffee being the principal focus of the business, they could only sell to customers on the premises of the City of London. I think that because they are a private limited company, they can enjoy the benefit of limited liability, which means individuals contributing to capital have responsibility for their own debts, which means most of the capital, is available through the sales of the shares. The company started to grow steadily through the production of cocoa in 1905 they expanded into new products with the production of cocoa, by 1910 they went even further and started manufacturing chocolate products very quickly made a name for themselves by doing this. ...read more.

Middle

who makes the popcorn might not be skilled in making the Poppets, this means the more employees that are on board it means the company itself must be quite large because it has to pay the employees a wage and a small company wouldn't be able to pay a decent wage to a lot of employees. Payne's production was originally based in Queen Elizabeth Street but it wasn't until they moved to Beddington Estate in Croyden, London the company started to make real progress. The legal structure of Paynes before being bought by Northern Foods was a private limited company. This restricted Paynes in a number of ways including that it took a lot more time in setting up the business so they could of started years before they actually did, they also could have saved a lot money. ...read more.

Conclusion

Paynes developed their products from cocoa since 1905 to include products such as Poppets, teas, and mints, nuts and other kind of sweet products like Fruitettes. The range of products could probably appeal to just about anybody due to their vast range of goods. I think that the different kind of product attracts a different market, such as nuts, I think that nuts would appeal more to the older people buying this range of goods, therefore the growth of this product would take longer but wouldn't be mature for very long and would decline quite fast. Northern Foods have five main customers and are all big national companies; these are Marks and Spencer, Safeway, Tesco, Sainsburys and Asda. Northern Foods sell their goods to these supermarkets for probably a good profit. The Poppets product developed over the years and can now be found in almost any supermarket or local newsagent at the standard cost of 31p. Christopher Boylan ...read more.

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