Finance – Page 14
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NewsBlacklock in talks with investors
The chop house restaurant group, founded by Gordon Ker, is understood to be working with advisers at BDO to explore options, The Telegraph has reported.
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NewsBreal and Calveton acquired TGI’s for £9.55m
As a result of poor trading performance in 2024, Hostmore and Thursdays (UK) began to experience significant cash pressures, with administrators called in earlier this month
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NewsHospitality leaders urge government action on quadrupling of business rates
CEOs from the UK’s largest pub and restaurant groups have signed an open letter to the Chancellor, calling for action on business rates, which would quadruple in April if current relief ends as planned.
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NewsMcDonald’s UK reports significant drop in profit after tax
Profit after tax at McDonald’s Restaurants Limited was £35m in 2023, down from £129m the previous year, despite an increase in turnover
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Weekend PressDirectors’ Deals: Greggs finance chief slices his stake
Greggs’ shares have risen by almost a fifth over the past year, with chief financial officer Richard Hutton’s selling of £1.85m-worth of shares on October 8
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NewsTRG explores £300m refinancing
The Wagamama owner is seeking to reduce its borrowing costs by locking in lower interest rates, Sky News reports
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NewsDeliveroo UK order values grow 7%
The delivery company says it has made progress on initiatives in its home market in a “more stable but still uncertain” consumer environment
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NewsPizzaExpress gears up to refinance bonds
The restaurant group is set to to appoint investment bank PJT Partners to refinance a £335m bond, Sky News reports
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NewsBrewDog founder laments ‘frustrating’ missed profit
The craft beer brewer and bar operator grew sales in 2023 to £281m, but pre-tax losses widened to £59m, due to “historic acquisitions and restructuring”
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NewsMarston’s to set out pure-play hospitality strategy
Chief executive Justin Platt said Marston’s was ”embarking on a new and exciting chapter” and would lay out its five pillar strategy at a Capital Markets Day later today.
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NewsChipotle UK records significant uplift in turnover
The fast-casual Mexican restaurant operator reported a 147% increase in revenue for the full year to 31 December 2023, from £17.9m to £26.3m.
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NewsJust Eat reports positive momentum in UK delivery market
Orders at its UK and Ireland business decreased by 1%, from 60.8m in Q3 2023 to 60.1m in Q4 2024, but Gross Transaction Values were up 6%, to €1,764m, over the period.
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NewsWhitbread accepts offers on 51 F&B sites
The accepted offers amount to a total consideration of £56m, and form part of the Premier Inn operator’s plans to exit 126 restaurants and convert 112 others into hotel rooms as it rationalises its F&B estate
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NewsStarbucks acquires franchise group 23.5 Degrees
The undisclosed deal expands Starbucks’ portfolio of company-operated stores by 113, bringing its UK total to 500. In its 2023 accounts, the franchise business reported increased turnover of £83.5m
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NewsBoojum founder joins Imbiba
The specialist investor has appointed three new operating partners following the close of its second investment fund at the hard-cap target of £90m.
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NewsPapa Johns reports £18.5m loss for 2023
The UK and Ireland franchise pizza business, which closed 15 stores during the year to 31 December 2023, saw like-for-like sales decline by 5.7% over the same period
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Weekend PressStockpickers: Pub groups prosper despite multiple challenges
Publicans fear the impact of a proposed smoking ban in gardens, The FT reports
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NewsTGI Fridays administrators agree to pay staff wages
Some 1,000 staff who lost their jobs were initally told the business did “not have the funds available” to pay accrued holiday, final unpaid wages, tips or redundancy
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NewsLuke Johnson leads investment in The Light
Risk Capital Partners and Melcorpo have acquired the 13-strong independent cinema and experiential leisure operator, with a £15m plan to double it in size
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NewsToca raises $100m in Series F funding
The football-themed experiential concept plans to open additional Toca Social venues in the UK and beyond, with investors including Harry Kane