Finance – Page 15
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News
Wells & Co grows sales in tough cost climate
The pub operator and brewer plans to invest proceeds from pub disposals into new acquisitions in France during the first quarter of 2024
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News
Deliveroo: ‘More stable but still uncertain’ consumer environment
Order growth in the UK and Ireland remained flat year-on-year, albeit the delivery company reported ongoing signs of stabilisation in consumer behaviour
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News
Wagamama aims for 200 restaurants
The Pan-Asian restaurant chain said it had clear visibility of a profitable openings programme with a healthy pipeline in place, including ten further sites lined up for FY25
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Interviews
TGI Fridays deal ‘pretty huge win’ for both businesses
Speaking after an agreement was announced for Hostmore to acquire the US-based TGI Fridays in a reverse takeover, chairman Stephen Welker tells MCA how the business has not received due credit in the market for its turnaround
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News
Revolution Bars sets out restructuring plan
If implemented, the strategy aims to return the company to profitability by improving EBITDA, reducing debt, and enabling a recommencement of the refurbishment program
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News
Hostmore to acquire franchisor TGI Fridays US
The proposed reverse takeover would bring together the casual dining brand’s largest franchisee with its global franchisor for an enterprise value of £177m, with the combined group to be renamed TGI Fridays plc
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News
Gymkhana Fine Foods raises £2.4m in seed funding
The retail spin-off from JKS Restaurants and former Mars executive Gulrez Arora is being backed by venture capital firm CAVU Consumer Partners
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News
Fulham Shore turnover nears £100m
Franco Manca and The Real Greek brands both reported strong revenue and estate growth in 2023
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News
Cooks Coffee sales up 17% to £27.9m
The Esquires operator plans to open more than 10 outlets in Q2 2024
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News
Busaba continues to explore expansion opportunities
The Alan Yau-founded Thai restaurant group reported a 2% decline in like-for-like sales, but continues to look at opportunities “closer to London”
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News
Caravan focuses expansion outside of London
The group reported a strong trading performance, with growth in both transaction volumes and spend, as it prepares to open a new site in Manchester
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News
Revolution brands remain ‘well positioned’
The pub and bar group has reiterated that its Revolucion de Cuba, Founders & Co, and Peach Pubs concepts continue to trade well, with group like-for-like sales demonstrating an improving trend as it announces a restructuring plan
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News
Revolution Bars Group announces restructuring plan
The group is looking to raise £12.5m, including £3m from Luke Johnson, which will be used to restructure the Revolution-branded estate; while simultaneously launching a formal sales process
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News
Tasty to exit 20 loss-making sites
The Wildwood and Dim T restaurant operator has announced a £750,000 loan agreement with Bet365 shareholder Will Roseff to fund a planned restructure
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News
Portobello Pub Company acquires Darwin & Wallace
The London bar operator will continue to operate under the same name, with founder Marriott to step down from day-to-day operations, and the enlarged group led by Richard Stringer, managing director of Portobello
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News
Stonegate seeing ‘material improvements in profitability’
The group delivered a “highly respectable performance”, with Craft Union enjoying 28% turnover growth. Total evenues grew by 6.7% but adjusted EBITDA was down 6.25%, due to macroeconomic challenges
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News
Sessions receives £3m Guinness Ventures backing
The food brand licensing platform will use its new seven-figure backing to launch a franchising arm with brands including SoBe Burger
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News
Revolution Bars close to finalising rescue fundraising
The owner of Peach Pubs and Revolucion de Cuba is close to securing £10m equity funding from investors including Luke Johnson, Sky News reports
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News
Red Engine secures £60m to fund expansion
The experiential leisure operator is looking towards eight openings in 2024, including Electric Shuffle Manchester and New York and Flight Club Liverpool and Oxford
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News
RedCat posts £30m loss
The Rooney Anand-chaired pub company said despite economic challenges and a number of closures, it saw opportunities to grow amid sector headwinds