Finance – Page 114
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NewsYoung’s to introduce rent holiday for tenants
Young’s will continue to trade its pubs as “a place of sanctuary in these uncertain and worrying times”.
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NewsCoronavirus closures continue
Brasserie Bar Co., JKS Restaurants, Darwin & Wallace, Smith and Wollensky and Cosmo are the latest restaurant and bar groups to close all of their sites in response to the coronavirus outbreak.
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NewsEgo – ‘lack of clarity has forced us to close’
Ego Restaurants will become the latest operator to close its sites this afternoon following a 60% drop in revenue over the past few days, CEO James Horler has told MCA.
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NewsTRG predicts 2020 sales decline of 25%
The Restaurant Group has predicted an overall decline in like-for-like sales of 25% in FY2020 as it has experienced an “increasing and material impact” of COVID-19 in recent weeks.
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NewsMarston’s – ‘we will be able to maintain operations’
Marston’s has “sufficient liquidity to maintain operations at a materially reduced level of business,” it has said in a COVID-19 update released today.
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NewsM&B has headroom to suffer ‘significant loss’
Mitchells & Butlers has provided a trading update in light of the Covid-19 outbreak, with like-for-like sales 0.9% for the 24 weeks to 14 March.
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NewsListed groups make heavy losses amid coronavirus bloodbath
Listed restaurant and pub suffered a day of carnage today as the coronavirus outbreak took its toll on operators’ share prices.
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NewsJDW more affected by weather than health scare
J D Wetherspoon has reported like for like sales up by 3.2% in the six weeks to 8 March 2020, saying it had been more adversely affected by poor weather than by the coronavirus health scare.
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NewsIntu warns of potential collapse as it reports £2bn loss
Intu Properties, the group behind nine of the UK’s top 20 shopping centres including the Trafford Centre in Manchester and Lakeside in Essex, has suggested it could collapse unless it raises extra funds.
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NewsUKH – ‘Budget ignores large operators’
Yesterday’s Budget includes some welcome changes but ‘utterly ignores’ larger operators, UK Hospitality CEO Kate Nicholls has said.
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NewsBoE announces emergency rate cut
In an attempt to shore up the economy amid the coronavirus outbreak, The Bank of England has announced an emergency cut in interest rates.
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NewsShepherd Neame sees strong H1 performance
Shepherd Neame has reported a strong performance in both managed and tenanted estate in its financial results for the 26 weeks ended 28 December 2019.
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NewsProfits up at Cote
Cote has reported ‘satisfactory’ growth in its financial report for the year ending 28 July 2019.
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NewsOakman closes in on refinancing and investment target
Oakman Inns has secured close to £2m in new investment, while extending almost £8m of bonds which matured in December 2019.
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NewsIntu footfall flat as it explores further disposals
Intu has reported footfall was flat in its UK shopping centres in 2019, outperforming the wider retail market where footfall was down 2.5%.
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NewsGreggs marks record year but has uncertain 2020 outlook
Greggs has reported an “exceptional year of progress” in its preliminary results released today for the year ended 28 December 2019.
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NewsRevolution claws its way back into growth
Negative like for like sales might not seem like an ideal trading position for the eponymous brand of Revolution Bar Group.
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NewsStrong global sales for Dominos
Dominos has reported strong global sales growth in its FY 2019 results released yesterday. The brand saw an uplift of 5.7% in global retail sales for the full year, with 6.9% growth in its fourth quarter ending 29 December 2019.
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NewsJKS counts cost of Gymkhana fire damage as it reopens
JKS Restaurants lost £1.52m in estimated damage and £2.43 in lost income as a result of the fire at Gymkhana.
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NewsKFC sales up
KFC UK has seen a sales uplift of 11% for its fourth quarter ended 31 December 2019.