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The History of Paynes
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| Submitted: Sat Aug 30 2003
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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. The development over the years meant...
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