All Finance articles – Page 34
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NewsBoparan poised to take over Carluccio’s
Boparan Restaurant Group is poised to buy Carluccio’s out of administration, Sky News reports.
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Analysis & Insight
J.P. Morgan on the UK pub sector
Although PM Boris Johnson’s speech on Sunday appeared to create more confusion around broader re-opening plans, hopes have been raised about select openings at some point in July for the broader “hospitality” industry. While we are unsurprisingly left with more questions than answers, we thought a quick piece was merited to highlight our views, recent investor feedback, what we’re watching for re-openings, and some incremental news in the last two weeks.
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NewsAmazon/Deliveroo platform will ‘substantially decimate margins’
Deliveroo have been a major part of the destruction of the restaurant industry and demise of the high street, All Our Bars CEO Paul Wigham has said.
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NewsGovernment to support suppliers through trade credit insurance guarantee
The Government has announced that it will provide a short-term guarantee to trade credit insurers, confirming the majority of business-to-business insurance coverage will be maintained.
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NewsTen Entertainment well positioned for ‘new normal’
Ten Entertainment Group is reconfiguring its bowling alley sites to make them “covid secure”.
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NewsYoung’s has £285m of liquidity to handle ‘prolonged closure’
Young’s Pubs has secured £30m under the Bank of England’s Covid Corporate Financing Facility.
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NewsTory MPs back Raise the Bar campaign
A group of 86 Conservative MPs have written to the chancellor calling for hospitality businesses with a rateable value above £51,000 to be included in a grant scheme.
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NewsPrezzo appoints advisors
Prezzo is the latest casual dining name to appoint in advisors to consider its post-coronavirus funding options.
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NewsGovernment looks to extend JRS for hospitality
Government is “actively looking” at extending the Coronavirus Jobs Retention Scheme for hospitality but would like to take other areas of the economy off the scheme where possible, Kate Nicholls, UK Hospitality CEO has said.
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NewsBridgepoint sets up £3m covid-19 hardship fund
Bridgepoint, the backer of Burger King, Azzurri Group, Market Halls and Deliveroo, has set up a £3m hardship fund to support charities and communities affected by Covid-19.
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NewsJust Eat Takeaway.com raises €700m
Just Eat Takeaway.com has raised €700m through an accelerated bookbuild offering of new shares and convertible bonds.
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NewsWahaca appoints PwC to explore finance options
Wahaca has appointed advisors at PwC to review its finances, Sky News reports.
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NewsState-backed loans for small businesses
Chancellor Rishi Sunak is considering offering 100% state-backed guarantees on loans to smallest businesses of up to £25,000, the Financial Times reports.
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NewsGumbrell: ‘We want to be part of a sector that’s ready to go forward'
Kris Grumbell, Brewhouse & Kitchen CEO, tells MCA of his proposal for an EIS-inspired Government support initiative to provide industry with a much-needed investor cash injection, the importance of keeping furloughed employees engaged throughout the closure period, and how sector resilience will ensure its survival.
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NewsLe Pain Quotidien in emergency sale process
Le Pain Quotidien is close to collapse amid a search for a buyer for its UK operations, Sky News reports.
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NewsJRS extended until the end of June
The Coronavirus Job Retention scheme will be extended until the end of June, chancellor Rishi Sunak has announced today.
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NewsWhitbread eligible under Covid Corporate Financing Facility
Whitbread has announced it has been confirmed as an eligible issuer under the UK Government’s Covid Corporate Financing Facility (CCFF).
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NewsAdministrator weighs up bids for Carluccio’s
Parts of Carluccio’s estate and assets have received interest from Tesco, Boparan Restaurant Group, and Byron owner Three Hills Capital.
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NewsDowney’s nine-month rent time out proposal to be submitted to Government
Jonathan Downey, founder of Hospitality Union, is to submit a formal proposal to the Treasury next week for a nine-month rent-free period for hospitality, leisure and retail businesses forced to close because of the coronavirus pandemic.
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NewsCity Pub Co raises £22m
City Pub Group has raised £22m following a share placing, cutting net debt by two thirds.