Ocado says fire at warehouse cost it more than £100m

Photo by Rich Warman, courtesy of andoverandvillages.co.uk

A February fire at Ocado’s Andover facility is expected to cost the online grocer somewhere in the region of £100m. The Guardian reports this contributed to the £143m loss reported in its six-month figures to June. However, the fire, at the site which Ocado claims provides around 10% of its delivery capacity, was apparently shrugged off by investors, with shares climbing more than 5%. However, it reportedly put a damper on Ocado plans for expansion as it looks to embark on a new relationship with Marks & Spencer – which replaces its existing grocery delivery deal with Waitrose next autumn.

Image: andoverandvillages.co.uk