All Finance articles – Page 24
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NewsTRG downsizes exec pay and operations
The Restaurant Group has announced an extension to its lending facilities, executive pay cuts and a downsizing of its board.
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NewsChancellor to overhaul SME loan scheme
The chancellor is set to overhaul his emergency aid scheme for small businesses (SMEs) as companies struggle to access crisis funds, Sky News reports.
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NewsMajority of companies face diminishing cash pile
A large number of companies are in danger of running out of money within weeks, according to a survey by the British Chambers of Commerce. The survey found 62% of companies polled late last month said that they had enough cash to keep them going for the next three months ...
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NewsOne in five SMEs at risk of collapse within a month
One in five SMEs are at risk of collapsing due to lack of cashflow in the next four weeks, new research by the Corporate Finance Network has revealed.
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NewsYoung’s places majority of staff on furlough
Young’s will retain all its staff through the coronavirus crisis by placing the vast majority on furlough – qualifying them for the Jobs Retention Scheme’s 80% Government wage subsidy - and reducing board members salaries by 20%.
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NewsBudweiser pledges £1m to British pubs
Budweiser UK has vowed to donate at least £1 million to British pubs through its new ‘Save Pub Life’ scheme, intended to support the sector during the coronavirus closure period.
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NewsCity Pub Co raises £15m after share placing
City Pub Group has raised £15m from existing shareholders and other institutional investors this morning after placing 30m of new ordinary shares.
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NewsTRG to place Chiquito in administration
The Restaurant Group-owned brand Chiquito has filed a notice of its intention to appoint administrators, suggesting it may be the first big restaurant group to collapse because of coronavirus, the Times reports.
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NewsByron hires KPMG to access emergency funding
Byron has hired KPMG to explore options for accessing emergency funding and to shore up its balance sheet, Sky News reports.
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NewsShaftesbury: Supporting tenants the ‘right thing to do’
Shaftesbury, the West End landlord, is supporting tenants with rent deferral, to help ease their short-term cash flow issues so they can resume trading once the current restrictions are lifted.
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NewsDoubts emerge over loan scheme
Doubts have emerged over the government’s loan scheme, with bank applications insisting on director personal guarantees.
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NewsClarity over eligibility for corporate finance scheme
Hospitality business which do not have a credit rating should not be discouraged from applying for the Covid-19 Corporate Financing Facility, the Bank of England has confirmed.
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NewsFuller’s in a ’strong financial position’ to weather crisis
Fuller’s is in a “strong financial position”, with an excellent relationship with its banks, a healthy balance sheet and significant liquidity headroom.
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NewsBRG closes Ed’s and Giraffe, Slim Chickens still open
Boparan Restaurant Group, the operator behind Giraffe, Ed’s Easy Diner and Slim Chickens, has announced the closure of all sites under its Giraffe and Ed’s brands.
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NewsVapiano applies for insolvency
Vapiano has opened insolvency proceedings and will apply for government assistance programs to avoid bankruptcy, blaming the coronavirus crisis for a further drop in sales.
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NewsLoungers, Fuller’s and BRG announce closures, to-go transitions continue
Loungers is the latest operator to announce an estate-wide temporary restaurant closure due to the impact of COVID-19, and Fuller’s will close all London pubs.
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NewsJDW: ‘If pubs shut, the levels of Government support won’t matter’
Wetherspoon plans to keep pubs open “even under extreme duress,” as chairman Tim Martin warned that should they shut, the levels of Government support for employees will be inconsequential to job losses.
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NewsLatest closures include TGI’s, Comptoir, Bills and The Ivy
TGI Friday’s, Comptoir Group, Bills and The Ivy Collection are among the latest operators to announce temporary closures amid the COVID-19 pandemic.
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NewsInterest rate cut to 0.1% amid turmoil for listed restaurant and pub groups
The Bank of England has cut interest rate to 0.1%, while announcing £200bn of quantitative easing.
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NewsYo!, Prezzo and Byron among latest casual dining closures
Yo!, Prezzo and Byron are some of the latest casual dining operators to temporarily close their doors.