Finance – Page 10
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NewsHeart with Smart looks to secure future
The Pizza Hut Restaurants operator is in advanced talks with potential buyers, with the aim of selecting a preferred bidder this month
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NewsWasabi directors ‘excited by future growth potential’
The sushi and bento brand reported a turnaround year in 2023, with profit after tax of £7.4m, continued strong performance in 2024 and plans to explore franchising
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NewsBeds & Bars ‘well positioned’ to capitalise on opportunities
Turnover rost to £72.8m in FY24, with larger units in key locations such as London, Edinburgh, and European capitals continuing to perform well
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NewsTasty agrees £2.5m insurance claim
The Wildwood operator said trading continues to be challenging, with the key December period said to be “disappointing”
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NewsBoxpark builds pipeline
Following a £12.5m cash injection from investor LDC, the operator is preparing to open Boxhall City in spring
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NewsChestnut grows revenues to nearly £30m
The East Anglian operator achieved a 33.6% rise in revenue while also growing EBITDA, its site portfolio, and accommodation business
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NewsSixth Street acquires Wingstop UK
The California-based investment firm has acquired a majority stake in the UK arm of the QSR chain, reportedly for more than £400m, with co-founders Tom Grogan, Herman Sahota, and Saul Lewin remaining minority shareholders
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NewsSoho House shares rocket after consortium tables £1.4bn takeover offer
A ‘new third-party consortium’ has offered to buy the group for $9 per share, with shares rocketing by more than 60% as a result
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NewsCGL ‘continuing to assess viability’ of D&D London estate
D&D operator CGL Holdings saw turnover drop and losses rise in its financial results, albeit outgoing CEO David Loewi said “the prospects for the D&D group are excellent”
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NewsKKR invests in Rebel Foods
The private equity firm has invested in the cloud kitchen platform to support its future growth, following reports of its interest in acquiring the UK arm of Wingstop
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NewsGusto continues strong trading
The Italian restaurant group has maintained site profitability and cash conversion, underpinned by a strong guest experience, continued investment in staff, and effective marketing
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NewsSoho House evaluates acquisition offer
The offer comes from a third-party consortium, in response to a review that claims the company’s current share price does not reflect its inherent value
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NewsGlendola Leisure grows sales and profits
The operator has entered into an agreement to lease a site in Waterloo Station, while it is developing plans for another venue in Belfast
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NewsStonegate Group invests £100m in 2024
The figure includes investment into new concepts, such as Rita’s Beerhall and Ballroom in Leeds, transforming a former Walkabout site with a £1m investment
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NewsDrake & Morgan remains resilient
The Bowmark Capital-backed, London-based bar and restaurant group achieved turnover of £45.5m, with Christmas trading set to beat last year’s records
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NewsAzzurri Group delivers transformational year
The group achieved an 18% increase in revenue to £303.1m for the year ended 30 June 2024, while successfully transitioning from a pure-play restaurant operator to a hospitality investment platform
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NewsWingstop achieves 122% increase in turnover
Turnover rose to £84.7m for the year ended 31 March 2024 while like-for-like growth stood at more than 50%, with the QSR chain in the midst of a sales process
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NewsCoffi Lab receives £1.5m funding boost
The Wales-based dog-friendly coffee shop concept has received the investment from the Development Bank of Wales to scale its store network
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NewsCarlsberg/Britvic deal cleared
Carlsberg and Britvic said in a separate joint statement that all regulatory conditions have been satisfied, including clearances from the European Commission and the UK’s Competition and Markets Authority
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NewsRosa’s profits swing to loss in FY24
The Thai restaurant group has reported a significant increase in sales and adjusted EBITDA For the 53 weeks to 31 March 2024, but achieved a loss after tax for the year.