Home Business News Ocado share price suffers 12 per cent dive

Ocado share price suffers 12 per cent dive

by Sarah Dunsby
7th Feb 19 2:21 pm

Online grocer Ocado has suffered a seven per cent dive Thursday morning and suffered a fiver per cent drop Wednesday, following the fire at the firm’s robotic warehouse in Andover.

The Andover automated warehouse is able to process 65,000 order a week and accounts for 10 per cent of the online grocer’s capacity.

In a statement Ocado said, “Since our last update, the fire brigade has continued to work to bring the fire at Andover under control. Due to concerns over the presence of pressurised refrigerants on site, the police conducted a limited evacuation of the immediate area on Wednesday evening.

“Ocado vans with food, drink, nappies and other essentials were sent to Andover and hotel rooms were made available for those who had to leave their homes during the night. We would like to thank the large number of local businesses that came to the assistance of the community.

“We apologise to all those affected by this incident and are very thankful to the people of Andover for their understanding and support during this difficult period.

“As previously announced, there has been substantial damage to the Andover building and its contents. Ocado is working hard to minimise disruption for customers by increasing capacity at other facilities. Ocado is grateful for the patience and understanding of customers during this period.”

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