All Finance articles

  • Piccolino Heddon Street
    News

    Individual Restaurants acquired in £40m rescue deal

    2020-11-26T09:30:00Z

    Individual Restaurants, including the Piccolino, Restaurant Bar & Grill, Opera Grill and Bank brands, has been acquired by the directors of Iceland supermarket, in a transaction worth more than £40m.

  • Eat Out to Help Out
    News

    Businesses claimed £849m through EOHO

    2020-11-25T10:27:00Z

    Businesses claimed £849m through the chancellor’s Eat Out to Help Out scheme, discounting more than 160 million meals, according to new figures from HMRC. New figures have revealed that almost 50,000 hospitality operators made a claim through the scheme by 30 September, which offered government subsidies of up to £10 on meals Monday to Wednesday in August. About a third (34%) of discounted meals were claimed by businesses with more than 25 outlets, accounting for more than a quarter (27%) of the total amount claimed. The majority of claims were made by restaurants (55%), with pubs claiming 28% of meals.

  • Leon Restaurant
    News

    Leon considers CVA

    2020-11-24T08:32:00Z

    Healthy fast-food concept Leon has become the latest chain to consider a company voluntary arrangement (CVA) in a bid to cut its rent bill. The business appointed consultancy firm Quantuma in June to advise it on seeking new rent terms, but is now said to be drawing up CVA proposals as a result of pressures caused by the second national lockdown. According to Sky News, plans are at an early stage and the implications for store closures and jobs are yet to be disclosed.

  • five guys restaurant
    News

    Five Guys to push on with expansion following strong lockdown trading

    2020-11-24T08:30:00Z

    Five Guys will push on with its expansion plans despite the uncertainty of the coronavirus pandemic, with at least three new openings set before the end of the year.

  • Wahaca_Liverpool
    News

    Wahaca acquired by Nando’s owner

    2020-11-16T09:48:00Z

    Wahaca has been acquired in a rescue deal by the billionaire owner of Nando’s.

  • The Deltic Group
    News

    Deltic asks for £1m-a-month government support to see it through sales process

    2020-11-16T08:32:00Z

    The Deltic Group has asked government for a £1m-a-month bailout as it continues its sales process, the Mail on Sunday reports.

  • BrewDog
    News

    Brewdog secures £25m CBILs and financing arrangement to tackle crisis

    2020-11-16T08:30:00Z

    Brewdog has said it is optimistic about the remainder of 2020 in light of financial measures taken to protect the business going forward.

  • Deliveroo rider
    News

    Deliveroo appoints Worldpay’s Medlock ahead of IPO

    2020-11-13T15:28:00Z

    Deliveroo has lined up former Worldpay CFO Rick Medlock to chair its audit committee as it prepares to list, Sky News reports.

  • Revolutions Bar Group
    News

    Revolution Bars approves CVA, closing six sites

    2020-11-13T15:05:00Z

    Revolution Bars Group has approved its company voluntary arrangement (CVA), which will see it close six bars.

  • caffe nero coffee
    News

    Caffe Nero enters CVA

    2020-11-13T08:34:00Z

    Caffe Nero entered announced it had entered into a Company Voluntary Arrangement (CVA) last night, blaming the second national lockdown.

  • Marston's
    News

    Marston’s seeks waivers from noteholders

    2020-11-11T08:34:00Z

    Marston’s has released a formal request to the holders of its secured class A notes for a limited number of further technical waivers during the first half of 2021. In an announcement on the London Stock Exchange today (11 November), the pubco said it was requesting the waivers as a precautionary measure following the renewed lockdown restrictions introduced in Wales on 23 October and England last week.

  • Wetherspoon
    News

    Wetherspoons sales hit by 'baffling' and 'questionable' restrictions

    2020-11-11T08:23:00Z

    Wetherspoons sales were significantly lower in October than previous months as the imposition of new restrictions took its toll, the business has revealed in a trading update today.

  • mindful chef
    News

    Piper sells Mindful Chef to Nestle

    2020-11-09T10:10:00Z

    Piper, the backer of Flat Iron, Turtle Bay and Hickory’s, has exited its investment in recipe box and ready meal company Mindful Chef to Nestlé.

  • Purezza
    News

    Vegan pizza chain Purezza set to go global

    2020-11-09T08:27:00Z

    Brighton-based vegan pizza concept Purezza has announced global expansion plans after securing £2.4m in funding.

  • The Deltic Group
    News

    Deltic sale piques private equity interest

    2020-11-09T08:25:00Z

    Private equity firms Greybull Capital and Aurelius are among interested parties in the Deltic Group, following its emergency sale announcement last month.

  • 50516214952_a36f487633_o
    Analysis & Insight

    Furlough extension a “wasted investment” without additional support

    2020-11-06T08:16:00Z

    Hospitality leaders and trade bodies have welcomed the chancellor’s furlough extension until March, but warned that without a clear roadmap and additional support it won’t be enough.

  • 50377909323_e8cfa8c69c_o
    News

    Furlough extended until March

    2020-11-05T12:41:00Z

    The government’s furlough scheme will be extended until the end of March, chancellor Rishi Sunak has announced.

  • Friska
    News

    Friska completes CVA, closes Manchester sites

    2020-11-04T08:45:00Z

    Healthy eating food to go brand Friska has completed a company voluntary arrangement (CVA), with the closure of its three sites in Manchester. Co-founder Ed Brown told MCA it was “very much a covid-19 related CVA”, and said there were “no winners” from the process, which has seen redundancies ...

  • Shepherd Neame Chief Executive Jonathan Neame DL
    News

    Shepherd Neame ‘resilient and well positioned for growth’

    2020-11-04T08:44:00Z

    Shepherd Neame remains “extremely resilient” as it enters into lockdown, and will emerge in a “position of strength”, the group reported in a financial update.

  • Camino exterior
    News

    Camino saved in rescue deal

    2020-11-02T16:47:00Z

    Camino, the Spanish tapas restaurant and bar group, has secured a rescue deal, saving four restaurants, two bars, and 77 jobs.