Finance – Page 13
-
NewsHakkasan grows revenues by 10%
The luxury hospitality group benefited from pent-up demand post lockdown, an increase in staycations and the return of international tourism to the UK
-
NewsTGI Fridays files for bankruptcy protection
The Dallas-based company seeks to ‘ensure long-term viability’ of the dining brand after closing several branches this year
-
NewsCrowdfunding ‘corrupted and abused’ by craft brewers
Craft beer has been guilty of becoming over-reliant on crowdfunding to compensate for unsustainable business practices, Pressure Drop co-founder Sam Smith has said
-
NewsSoho Coffee Co posts £3.2m loss
The 28-strong coffee shop group said its owner, Qatari development company BTC, is committed to “significant further investment” in the UK, and continues to fund ambitious expansion plans for the brand
-
NewsWingstop’s international business ‘continues to be on fire’
CEO Michael Skipworth said that the QSR chain’s success in the UK, alongside its first restaurants in France, demonstrates its ability to grow to over 750 restaurants overseas
-
NewsChipotle could open ‘thousands’ more locations in Europe
Interim CEO Scott Boatwright reiterated that Western Europe is a ‘sizeable’ growth opportunity for the fast casual Mexican chain
-
NewsCamerons Brewery secures new funding
The Hartlepool-based brewer and pub company has agreed a refinance and new funding package with Sandton Capital Partners and IGF
-
NewsUK drives dip in international sales at McDonald’s
The fast food giant said customers in the UK were “continuing to be more intentional” with spending, leading to a decrease in international operated markets of 2.1%
-
NewsHonest plans to quadruple business
The 39-strong burger business, which reported £56.4m turnover last year, wants to grow by a multiple of four by 2030
-
NewsC&C notes poor weather and subdued market
UK supplier business Matthew Clark and Bibendum saw growth in customer numbers with Admiral Taverns contributing to this positive performance
-
NewsTGI Fridays shutters 50 US locations
TGI Fridays Inc is seeking emergency financing and insolvency protection after the collapse of a takeover deal with its UK franchise counterpart
-
NewsFlat Iron reports record sales
The Piper-backed affordable steakhouse chain, which has appointed advisors to assess its options, reported sales up 38% to a record £49.6m this year
-
NewsPizza Pilgrims appoints advisors to assess strategic options
The Neapolitan-inspired pizzeria brand has had unsolicited conversations with trade operators, international hospitality partners, global food service providers and financial institutions about its next steps
-
NewsPunch acquisitions to boost profits
The pub group expects to realise an additional £8.5m in EBITDA following the acquisition of 34 pubs
-
NewsCosta reaches £1.2bn revenue
The 2023 figure represented an increase of £105m (9%) from £1.1bn in 2022, with the coffee business continuing to invest in new stores, renewing existing sites, and proposition development
-
NewsWimpy UK revenue drops 17%
The sharp drop was caused by a decline in footfall, along with economic uncertainty, parent company Famous Brands reported in its interim results
-
NewsStarbucks global sales down 7%
The coffee chain has suspended its financial guidance for 2025, with new CEO Brian Niccol saying it’s “clear we need to fundamentally change our recent strategy”
-
NewsTGI Fridays Inc seeking new financing
The American business is preparing to file for bankruptcy protection in the coming weeks, according to Bloomberg
-
NewsThe Revel Collective looks ahead to improved trading
The Revolution and Peach Pubs operator reported sales of £149.5m in FY24, with an improved performance since year end due to the return of students and early bookings for the festive period
-
NewsBig Mamma achieves £40m turnover
The French-founded Italian restaurant group said its five London locations all exceeded expectations, with plans for another three UK sites in the pipeline