Finance – Page 107
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NewsCoffeesmiths entity leaves liabilities of £20m
Department of Coffee and Social Affairs operator CCL 02 Limited has unsecured creditors totalling more than £1.6m after going into liquidation, a statement of affairs by liquidator Quantuma has revealed.
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NewsAlixPartners MD Graeme Smith: Local lockdowns a ‘big worry’ for sector investors
One of the biggest concerns for investors looking to support the sector is the risk of continued local lockdowns, and the impact they could have on business recovery, AlixPartners MD Graeme Smith has said.
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NewsDomino’s hails ‘resilient’ lockdown performance
Domino’s UK & Ireland has reported UK like-for-like sales up 4.8% for the half year to 28 June 2020.
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NewsMcDonald’s sues former CEO over alleged sexual relationships with employees
McDonald’s has sued its former chief executive Steve Easterbook amid allegations that he fraudulently hid details of three “physical sexual relationships” with employees when he was fired last November, the Financial Times reports.
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NewsFarmstand surpasses crowdfunding target for ‘ten cities in ten years’ expansion
Farmstand, the plant-focused catering business, has surpassed its £750,000 crowdfunding target, as it plans to expand into ten cities in ten years.
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NewsFulham Shore raises £2.25m in share placing
Fulham Shore has raised £2.25m in a share placing that was oversubscribed.
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NewsLoungers sees encouraging July trading
Loungers has reported an encouraging performance for its first four weeks of post-lockdown trading.
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NewsPizza Express to close 15% of estate in restructuring
Pizza Express has today announced that it is to undergo a financial and operational restructuring, which could see the permanent closure of 15% of its estate.
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NewsItsu hopes to cut rents on 53 sites in CVA
Itsu plans to close two and cut rents on 53 of its sites by means of a company voluntary arrangement.
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NewsKFC system sales down 58% in Q2
Yum brands has reported KFC UK system sales fell 58% in Q2 2020 compared to the same period last year. According to the parent company’s latest financial update, sales in the UK business fell 23% for the year to date (to 30 June 2020), a dip that has been attributed to the coronavirus pandemic
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NewsSector investor BGF invests £128m in 24 new companies
Sector investor The Business Growth Fund (BGF) has backed 24 new companies in the first half of 2020, investing a total of £128m in its new portfolio.
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NewsFullers 'in a stronger position than many' despite £10m hit to sales
Fullers has reported the stark impact of the coronavirus crisis on the final month of its financial year, but said it is “in a stronger position than many to build towards sustained profitability.”
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NewsPizza Hut Restaurants to consider restructure
Pizza Hut Restaurants has hired advisers to explore a financial restructure, with a company voluntary arrangement (CVA) under consideration.
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NewsTortilla CEO Richard Morris: VAT cut will help us through tough times ahead
The government’s 15% VAT reduction will be a useful boost for hospitality businesses faced with what’s set to be an incredibly challenging winter season, MCA’s The Conversation has heard.
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NewsGreggs sales reach 72% of pre-coronavirus levels, sees loss in first six months
Greggs has reported sales reached 72% of 2019 levels last week, as it registered a loss for the first six months of the year.
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NewsCreams reports strong start to FY21
Dessert Café brand Creams has reported a successful start to the financial year despite the impact of the coronavirus lockdown.
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NewsStonegate sells £1.2bn in bonds
Stonegate Pub Company sold £1.2bn of bonds on Friday to finance its takeover of Ei Group.
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NewsCity Pub Group trading profitably after three weeks
City Pub Group has reported total sales for the three-week period since 4 July were £1.8m.
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NewsMarston’s/Carlsberg JV delayed
Completion of the merger of Marston’s brewing company and Carlsberg UK will be delayed pending a review by the Competition and Markets Authority (CMA).
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NewsChilango gives notice of intent to appoint administrators
Burrito chain Chilango has given notice of its intention to appoint administrators, in a further blow to bond-holders.