All Finance articles – Page 26
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NewsBounce Back extension to give “valuable breathing space” to hospitality
An extension of the Chancellor’s Pay as You Grow repayment flexibilities will “give valuable breathing space” to many hospitality businesses, as long as banks cooperate with the new flexible terms, UK Hospitality CEO Kate Nicholls has said.
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NewsRestaurant losses up 112%
Losses at the top 100 UK restaurant groups increased 112% to £517m last year, rising from reported losses of £269m at the end of last month.
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NewsOaktree backs Anand’s pub vehicle
Rooney Anand’s pub investment vehicle Redcat Pub Company has been backed by US investment firm Oaktree, the Telegraph reports.
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NewsWhitbread refinances debt with green bonds
Whitbread has refinanced its debt, with the pricing of two green bonds, extension of its revolving credit facility and its intention to repay private placement notes.
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NewsFormer Just Eat CEO invests in Egypt’s fastest growing delivery company
Former Just Eat CEO David Buttress has made his largest personal business investment to date, in Egyptian food delivery company Elmenus.
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NewsFever-Tree grows global trade amid home decline
UK revenues at Fever-Tree declined by 22% to £103m in 2020, though this mostly was offset by growth in Europe and the US, leading to a more modest global decline of 3%, and total revenues of £252m.
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Analysis & InsightHospitality sales down 54% in 2020
Hospitality lost out on over half of its expected sales in 2020, with back-to-back lockdowns and ever-increasing restrictions costing the sector approximately £200m a day.
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NewsMyers and Ramsay acquire Red Mist Leisure under new pub vehicle
Former Busaba CEO Jason Myers and sector investor David Ramsay have formed a new pub investment vehicle, Red Lion Holdings.
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NewsShareholders inject £13m into Yo!
The parent company of Yo! secured £13m in shareholder funding in September 2020 to repay bank debt.
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NewsFurlough extension under consideration
Chancellor Rishi Sunak could be considering a further furlough extension in the upcoming budget, the Telegraph reports.
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NewsBurger King drives through recovery
Burger King UK has “recovered significantly” from the impact of coronavirus, due to its ability to trade through lockdowns, and drive through restaurants.
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NewsWetherspoon raises £93.7m in new equity
J D Wetherspoon has raised £93.7m investment following a share placing, which it help with low sales upon reopening, and acquisitions in London.
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NewsRooney Anand raises £200m for pub investment vehicle
Former Greene King CEO Rooney Anand has raised £200m to invest in Britain’s pubs sector, Sky News reports.
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NewsGiggling Squid proves ‘off-site trading model’
Giggling Squid is currently in a “strong financial position” and “trading well given its regional bias” as it heads into winter, according to its latest financial accounts.
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NewsBritish Land collects less than half of retail rents in December
British Land has so far collected 46% of due December rents in its retail division, with just 32% of its stores able to trade in some way through the latest lockdown.
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NewsGreggs forecasts £15m losses for 2020
Greggs’ sales fell 44% to £811m in the 2020 financial year, the bakery group has reported.
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NewsLord Sugar challenges Caffe Nero CVA
Lord Sugar’s private commercial property group, Amsprop Investments, has lodged a legal challenge against Caffe Nero’s company voluntary arrangement (CVA), Sky News reports.
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NewsTRG warning over ‘extremely challenging’ outlook under tiers
The Restaurant Group has warned the tiering system will have a “significantly adverse impact” on the group if it remains in place.
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NewsFulham Shore: ‘Historic’ return on capital once normal trading resumes
Fulham Shore will be able to target a “much higher return on capital” when normal trading resumes, due to the ongoing damage to the property and restaurant sectors.
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NewsSSP optimistic for “slow and steady” recovery
Travel hub operator SSP Group has said it remains optimistic in its ability to adapt to and capitalise on the return of the travel market next year despite incurring huge losses in 2020.