Finance
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News
Butcombe Pubs & Inns reports record sales in March
The Liberation Group-owned business attributed strong sales to a bumper Mother’s Day weekend and the Cheltenham Festival
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Starbucks to open further 100 UK stores
The coffee giant reported 22% year-on-year sales growth in the UK to £547.7m, with plans to grow its current estate of 340 drive-thrus
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XP Factory sees opportunity to ‘make hay in underpenetrated market’
CEO Richard Harpham said the experiential operator opened so many sites so quickly in 2022, “we didn’t get everything right”, but added its brands Boom Battle Bar and Escape Hunt remain “highly resilient” to consumer headwinds
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Revolution Bars ‘actively exploring’ all options
The pub and bar operator confirmed it is engaging with shareholders to fundraise, while exploring strategic options including a restructuring or partial or full sale
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Big Mamma pushes ahead with global expansion
The Italian restaurant group said its acquisition by McWin would support its global expansion plans in Europe, the Middle East and United States
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Gail’s owners could begin sales process this year
Sky News reports Bain Capital Credit and EBITDA Investments, a fund backed by Henry McGovern of McWin, are drawing up plans to appoint bankers, potentially before the end of this year
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Arc Inspirations secures £7m
The funding from lender HSBC and shareholders including BGF will support plans for four sites a year over the next five years
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Sales continue to improve at Wetherspoons
Like-for-like sales were up 10% in the second half of FY24, while reveue grew by 8% to £991m. Chairman Tim Martin said pubs were generating 50% more sales than ten years ago, with ambitions to grow the estate to 1,000
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Shepherd Neame achieves record revenue
The Southeast-based pub operator saw revenue rise to £89m for the first half of the financial year, with strong like-for-like sales growth in both tenanted and retail pubs
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Majestic Wines in talks to buy Vagabond
Majestic, which is owned by Punch Pubs backer Fortress Investment Group, could strike a deal to buy Vagabond within days, Sky News reports
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Subway agrees European partnership deal with McWin
McWin will assume responsibility for 400 existing franchise restaurants in France, the Czech Republic, Luxembourg and Belgium, with plans to open 600 new sites over the next decade
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Boom Battle Bar operator grows revenues by 96%
XP Factory opened some nine sites in 2023, boosting sales to £44.7m, and double-digit like-for-like growth
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CC Capital in talks to acquire Soho House
Chairman Ron Burkle defended the members group against attacks against its business model and profitability, arguing its houses create “tremendous long-term value”
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Hush Collection shifts focus to Haché Brasserie concept
The sale of its smaller sites has allowed the group to focus on its “core activities, to repay certain shareholder loans and its overdraft facility in full, and to provide liquidity”
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Nightcap remains optimistic for future outlook
Despite revenue growth of 42%, the late night operator reported like-for-likes down 10% but expects a gradual recovery later this year as the financial outlook for its customer base improves
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Prezzo returns to profitability in 2023
In April 2023, the business took the decision to reduce it restaurant estate down to 97 sites which were profitable and capable of delivering sustainable growth
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Membership waitlist at all-time high, reports Soho House
The members club group has reported losses of $118m (£92.5m) for 2023, and said it had undertaken an independent review of its accounting practices to ”counter misleading claims”
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Operational progress drives growth for Deliveroo
The delivery company reported a ‘resilient year of growth given macroeconomic conditions,’ with gross profit up 13% and revenue and gross transaction value up 3%
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Cooks Coffee taps up shareholders for cash
The New Zealand-based coffee shop operator, which runs Esquires in the UK, is seeking around £820,000 to invest in digital, store expansion and to repay debt
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Sysco GB returns to profit for first time since 2018
The foodservice supplier, which is continuing to pursue acquisitions, posted UK revenues of £2.8bn in 2023