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All Finance articles – Page 41
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NewsM&B extends lending facilities by £100m
Mitchells & Butlers has extended its lending facilities by £100m, giving it access to liquidity of £250m through to 31 December 2021.
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NewsJust Eat Takeaway.com snaps up Grubhub for £5.75bn
Just Eat Takeaway.com has further consolidated its position in the global delivery market by buying US company Grubhub for $7.3bn (£5.75bn).
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NewsTRG launches CVA to close 125 sites
The Restaurant Group has announced a proposal to enter a company voluntary arrangement (CVA) for its leisure estate.
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NewsThree Joes acquires The Stable
Three Joes, the sourdough pizza and craft beer restaurant chain, has acquired 14-strong The Stable pizza chain from Fullers for an undisclosed sum.
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NewsWasabi hires KPMG
Wasabi, the Capdesia backed sushi and bento brand, has hired KPMG to negotiate rent cuts, the Sunday Times reports.
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NewsRevolution launches £15m fundraise
Revolution Bars Group is seeking to raise £15m in a share placing, while transfer trading from the London Stock Exchange to the smaller AIM.
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NewsAzzurri sounds out sale
Ask Italian and Zizzi operator Azzurri Group is exploring a sale of the company, Sky News reports.
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NewsBoparan paid £3.4m for Carluccio’s
Trading at Carluccio’s had recovered before coronavirus struck, but the dramatic sales decline that accompanied lockdown left it unable to continue, an administrators report shows.
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NewsComptoir has ‘strong balance sheet’ to weather crisis
Comptoir Group is in a “reasonably healthy cash position” with minimal bank debt to service during lockdown.
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NewsHollywood Bowl ‘remains well positioned for growth’
Hollywood Bowl Group has said it remains well positioned to carry out its growth strategy despite the ongoing impact of the coronavirus.
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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.