Finance – Page 105
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NewsNew business loans to support firms through second wave
Chancellor Rishi Sunak is to extend the Treasury’s programme of business support loans as ministers look to support the economy through an anticipated winter of new restrictions.
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NewsPapa John’s UK consolidation will support 40 new stores
Papa John’s has announced plans to consolidate its international team in its UK corporate office in Milton Keynes as part of a global reorganization.
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NewsMod Pizza enters insolvency proceedings
Mod Pizza, the Sir Charles Dunstone-backed concept, is believed to have entered insolvency proceedings.
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NewsWelcome Break shows “resilience” in post-lockdown recovery
Motorway service operator Welcome Break has seen a “resilient” recovery in sales post-lockdown, owner Applegreen has announced.
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NewsLondon mayor calls for year-long extension of business rates holiday
London mayor Sadiq Khan has called for a year-long extension of the business rates holiday for retail, hospitality and leisure businesses.
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NewsTim Martin calls for tax equality between pubs and supermarkets
Wetherspoon is to cut the price of all food and drink on Thursday 24 September as it hosts a ‘Tax Equality Day.’
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NewsUnpaid rent bills to total £4.6bn this year
Commercial property landlords could be left with unpaid rent bills of £4.6bn this year, according to the British Property Federation.
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NewsGBK enters sales process
Gourmet Burger Kitchen parent company Famous Brands has initiated a sales process for the chain. Last month, the South Africa-based group said it was continuing to explore “all options” to ensure the long-term sustainability of the brand in light of the coronavirus crisis, but has since decided to let go of the business.
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NewsLoungers emerges from crisis as a ‘better business’
Loungers has reported a “significant market out-performance” since reopening, with net like for like sales growth of +29.9% from 4 July to 13 September 2020.
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NewsBrighton Pier Group bars makes staff lay-offs
The bars division of Brighton Pier Group has had to make staff lay-offs due to the continued uncertainty over the reopening of the late-night sector and the end of the furlough scheme.
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NewsMPs call for targeted furlough extension
Chancellor Rishi Sunak has been urged by a cross-party group of MPs to consider a targeted extension of the furlough scheme or risk “mass long-term unemployment”.
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Analysis & InsightEpiris pays £18m for Casual Dining Group
Casual Dining Group left estimated debts of £125m to secured creditors, with a likely level of return of £13m.
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NewsBrewdog posts losses £8.1m due to pandemic
Brewdog made a net loss of £8,151,071 in the six months to 30 June 2020 as a result of the coronavirus pandemic.
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NewsBrewdog launches sustainability-focused Equity for Punks Tomorrow
Brewdog has launched new share offering, which is seeking up to £7.5m, with a stretch goal of up to £50m.
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NewsTossed sites acquired out of administration by MD
Salad bar brand Tossed has been acquired out of administration by its former managing and commercial directors Neil Sebba and Angelina Harrisson.
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NewsHarts Group converts £1.5m Barrafina loans to shares
Harts Group, the operator of Barrafina and El Pastor, has converted £1.5m in loans in Barrafina Ltd into shares in Harts Group Ltd, which has “improved the balance sheet and cashflows of the group”.
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InterviewsBoxpark CEO Roger Wade: Rent is the ‘dinosaur in the room’
Without a workable solution to tackle outstanding rent liabilities, all other support packages and recovery measures will be a “total and utter waste of time,” Boxpark CEO Roger Wade has said.
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NewsAmazon fined by CMA for causing “serious and flagrant issues” in Deliveroo investigation
Amazon has been fined £55,000 by the Competition and Markets Authority over its failure to hand over documents in time for its Deliveroo deal investigation deadline.
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NewsPizza Express CVA approved
Pizza Express has announced its proposed company voluntary arrangement (CVA) has been approved by creditors, with 73 sites set to close.
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NewsTossed creditors include £9.3m Jersey investor
Zest Food, the operator of Tossed and Vital Ingredient, has left liabilities of £9.3m to its investor after going into administration, a progress report shows.