UK’s largest drinks independent wholesaler takes financial hit from the pandemic.

Licensed Wholesale Company (LWC) headquartered in Manchester (UK), reported a loss
of £70,305 for the 12 months to September 30, 2020, compared to a pretax profit of
£15M in the prior year. The company turnover also fell to £243.6M vs £346.5M, over
the same period. For the first half of the 2020/21 financial year turnover was down
83%, but the company minimized the overall business impact by managing costs which
provides confidence for a strong recovery in the second half of the year.