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All Finance articles – Page 34
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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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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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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.
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NewsRevolution secures further liquidity as restrictions hit sales
Revolution Bars has reported sales significantly down in the first 24 weeks of FY21 as a result of “severe and constantly evolving trading restrictions.”
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NewsSales up at Wagamama
Wagamama has reported strong results for both eat in and delivery in Q3, seeing an uplift in sales and EBITDA.
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NewsShaftesbury reports loss as pandemic has “significant impact” on portfolio
West End landlord Shaftesbury has reported a loss after tax of £699.5m for the year to 30 September 2020 as the pandemic has a “significant impact” on the business. In the six months to the end of September, the group collected 53% of contracted rents, with 34% deferred or waived and 13% outstanding. Net property income was down 24.2% to £74.3m (2019: £98.0m), with a 3.5% like-for-like decline in rental income, and charges for expected credit losses and impairments of £21.9m.
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NewsBrains up for sale
Welsh brewer and pub operator SA Brain has put itself up for sale, the Sunday Times reports.
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NewsNightcap aims to thrive in post-covid 2020s
Nightcap, a new company led by hospitality entrepreneur Sarah Willingham, has announced an intention to float on AIM and that it has agreed a deal to acquire the London Cocktail Club (LCC) group of bars.
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NewsOakman Group opens share offer to customer base
Oakman Group, the operator behind Oakman Inns and Restaurants and Ashmore Inns, is looking to capitalise on the post-pandemic market and double its estate by 2026.
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NewsDeltic files for administration
Nightclub operator Deltic has filed a notice to appoint administrators. The group, which owns late-night brands including Pryzm and Bar and Beyond, announced its intention to sell in October, but has been as yet unable to secure a buyer. Over the last few weeks, private equity firms Greybull Capital and Aurelius emerged as interested parties in the group, but Scandinavia bar operator Rekom Group has since come to the fore as the preferred bidder to buy Deltic through a pre-pack administration. It’s understood that any deal could see the permanent closure of some of its 52 sites.
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NewsCooplands secures £7.7m BGF funding to fuel expansion
South Yorkshire-based bakery chain Cooplands is set for growth after receiving £7.7m in funding from the Business Growth Fund (BGF).
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NewsRent debt pile of £1.6bn threatens new year bloodbath
The hospitality sector is facing a devastating rent tipping-point that will trigger a new year bloodbath of business failures and the potential for hundreds of thousands more job losses, UK Hospitality has warned.
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NewsBrewDog crowdfund breaks £10m
BrewDog’s Equity for Punks Tomorrow fundraise has broken the £10m mark, with 54 days remaining to reach its target of £15m.