All Finance articles – Page 41
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NewsAPPG for Hospitality and Tourism urges Chancellor to offer financial support
The All-Party Parliamentary Group for Hospitality and Tourism has called on Chancellor Rishi Sunak to provide decisive financial support to the sector in his upcoming Budget.
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NewsUrban Pubs & Bars sees significant lockdown losses
Urban Pubs & Bars lost out on £2.5m in sales in the first month of the March lockdown, and incurred a significant shortfall in profit due to its inability to mitigate costs immediately at the point of closure.
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InterviewsMatt Snell: Furlough costs Gusto £50k a month
The furlough scheme is a benefit for employees, rather than businesses, and must be understood as such, MCA’s The Conversation has heard.
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NewsOakman raises £4.4m
Oakman Group, the operator behind Oakman Inns and Restaurants and Ashmore Inns, has closed its latest equity raise – receiving applications for £4.4m of shares from almost 300 new investors.
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NewsExtension of JV arrangements for Ego Restaurants
Mitchells & Butlers (M&B) has reached an agreement with James Horler, CEO of 3Sixty Restaurants, and its other shareholders, to continue with the joint venture arrangements, in relation to the development of Ego Restaurants, for a further period.
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InterviewsHero Award: ‘There’s a level of compassion sometimes missing in finance’
As part of the new Hero Award at the Retailers’ Retailer, MCA is profiling five senior managers who have gone above and beyond in steering their business through the crisis.
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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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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.