Finance – Page 19
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NewsPizza Hut Restaurants achieves profit and LFL sales growth
The franchise business achieved a £4.7m increase in operating profit to reach £1.7m in 2023, from a £3m loss in 2022
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NewsBoston Tea Party reports sales decline
The 23-strong independent café chain saw a 5% decrease in net sales to £21.7m
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NewsCineworld to inject £35m into estate
The cinema chain’s US backers have agreed to inject the investment to catch up with rivals if its rescue plan is agreed
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NewsRick Stein’s restaurant company back in the black
Stein’s Trading is looking to expand its restaurant portfolio and is actively seeking a site in Central London
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NewsImprovement ‘across the board’ for Soho House
CEO Andrew Carnie said the group has seen consistent trends across all major geographies, with average spend per member improving in Q2
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NewsBurger King UK grows revenues and profits
The UK master franchise business led by Alasdair Murdoch hailed a strong performance, with total revenues up 30% to £381.8m in 2023, and adjusted EBITDA growing by 54% to £32.3m
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NewsIsland Poke acquired for £150k
The 16-strong poke bowl concept, which suffered a downturn and mounting arrears post-pandemic, was purchased in a pre-pack administration by connected party Chris Miller’s White Rabbit Projects
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NewsKrispy Kreme: UK performance ‘not up to expectations’
The doughut brand is consolidating three sites, upgrading its core and speciality range, and launching secondary displays in convenience stores to improve profitability
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NewsPapa Johns restructure yields results
The pizza group closed 43 underperforming restaurants and refranchised a further 60 stores, and expects the UK market to be profit-accretive based on “these actions and continued operating success”
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NewsAmber Taverns pursued by Epiris
Big Table Group-backer Epriris is going head to head with Guy Hands’ Terra Firma private equity firm in pursuit of the wet-led community pub company, Mark Kleinman writes for City A.M.
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NewsRevolution Bars Group restructuring plan approved
It means the late night group can move forward and amend and extend its lending facilities, exit certain loss-making sites, and implement rent reductions at others to return them to profitability.
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NewsOptimum Group sourcing new Costa sites
The Costa, Kaspa’s, and I am Doner franchisee is planning further openings for its coffee and doner businesses
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NewsThe Breakfast Club: ‘Performance bodes well for future expansion’
The group reported £17.8m revenue for FY24, with four new openings and double-digit like-for-like growth in central London
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NewsKFC UK reports sales drop
Parent company Yum! Brands recorded a 3% decline in system sales growth for KFC UK in Q2 2024
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NewsRedCat completes £61m refinance
The Rooney Anand-chaired pub company has secured a deal which comprises debt funding from Barclays and further equity from the investors, including funds managed by Oaktree Capital Management
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NewsDomino’s 1.8% sales dip offset by Shorecal acquisition
The pizza group has sold 305 London stores sold to five different franchise partners for £35.1m, and has entered the second stage of its loyalty scheme trial
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NewsTGI Fridays to transition to full franchised model
Hostmore is planning to transition into an “asset light” model with no corporate stores following the reserve takeover of the American TGI Fridays business
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NewsClays secures new investment
The Imbiba-backed virtual shooting concept has completed a £6m fundraise and will make its regional debut in Birmingham this year
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NewsWingstop UK initiates sale process
Sky News reports that Goldman Sachs is understood to have begun issuing information about Wingstop UK to third parties in past weeks
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NewsContinued strong performance for Liberation Group
The premium pub operator and brewer saw a like-for-like sales uplift of 6.4% in H1, with growth driven by its food offer, breakfast and brunch trade, and strong occupancy