One of the North East's biggest businesses have announced a shock profits warning today, causing a marked drop in its share value - and raising more fears about the pace of the country's economic recovery.
Greggs the Bakers blames bad weather on a drop in like-for- like sales for the first four months of the year.
The company has warned it now expects profits for the whole year to be lower than first forecast.
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The department chain has announced plans of a 45 day consultation, in which the amount of redundancies could be decided.
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