Finance – Page 266
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NewsTragus to undergo restructuring
Tragus is to undergo a financial restructuring, which will include the launch of company voluntary arrangements (CVAs) for Café Rouge and Bella Italia, and the sale of Strada, to ensure a long-term sustainable future for the business
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NewsCollyer: Gov't intervention 'good news' for pubcos
Leading analyst Geof Collyer says the Government’s plans to intervene in the tenanted pub sector will be “good news in the long term” for Enterprise Inns, Marston’s and Greene King
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NewsSpirit plans Orchid leases deal
Spirit Pub Company is planning to acquire around a dozen leases currently operated by Orchid Pub Company on which it is guarantor before they are placed into administration
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NewsPunch agrees to sell five pubs for £9.7m
Punch Taverns has agreed to sell five freehold pubs in central London to Manica Properties Ltd, an Isle of Man-based company, for £9.7m
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NewsStonegate-operated package sold in £28m deal
OLIM Property, the property investment company led by former Liberal Democrat Treasury spokesman Matthew Oakeshott, has acquired 15 freehold pubs let to Stonegate Pub Company for £28.3m
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NewsOperators outline Responsibility Deal progress
Operators from the eating and drinking out sector have taken further steps to adhere to targets under the Public Health Responsibility Deal with the Government through means such as reducing salt and calorie content of foods and avoiding underage alcohol sales
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NewsM&C20 grows despite Punch equity jitters
The M&C20 index grew by 0.3% this week despite a dramatic 23% fall in the share price of Punch Taverns, which overshadowed the modest gains made by the majority of member companies, but was buoyed by a stunning stock market debut from Patisserie Valerie
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NewsWahaca completes Great Portland St deal
Wahaca has secured its next site in London, after completing on a deal for a site in Great Portland Street
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Analysis & InsightDealing with the poisonous posts
What can retailers do when they see inaccurate, derogatory messages about their business online? Charles Russell’s Vanessa Barnett and Caroline Swain offer some top tips
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NewsAnalyst corner
Mark Brumby at Langton Capital takes a look at the latest update from Punch Taverns on its restructuring proposals and says that there is still a great deal to play for
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United Ramen confirms ex-Strada site deal
United Ramen, the Japanese restaurant and takeaway concept, has confirmed it will be opening its first site under the Live4Food group on an ex-Strada site in London
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Blackpool launches night-time economy group as EMRO alternative
Blackpool Council has formed a night-time economy working group to help tackle problems associated with excessive drinking in the town
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Amber Taverns changes hands in £80m deal
Amber Taverns, the fast-growing operator of wet-led community pubs, has changed hands as part of an £80m management buyout
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NewsJack upgrades M&B over expected Orchid deal
Leading analyst Douglas Jack has upgraded Mitchells & Butlers (M&B) from Add to Buy following news of its likely takeover of the majority of the Orchid estate, which he described as an “excellent transaction” for the group
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NewsMcDonalds to refranchise 1,500 sites
McDonalds has announced plans to refranchise at least 1,500 restaurants by the end of 2016 in Europe and its Asia/Pacific, Middle East and Africa (APMEA) division
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UK-based restaurant reservation system signs US deal
ResDiary, the global restaurant booking specialist established by hospitality veteran Mike Conyers, has agreed a deal to take the system to the US
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NewsShepherd Neame 'faces family revolt' over restructure
Shepherd Neame is reportedly facing legal action against plans to simplify its capital structure, with former vice chairman Stuart Neame seeking an injunction to prevent the company diluting his holding and that of family members, the Daily Mail reports
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NewsJack expects to upgrade Fuller's
Leading analyst Douglas Jack has reiterated his Add recommendation for Fuller’s but says he’s likely to upgrade his forecast after its full-year results next Friday (6 June)
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NewsM&B takes lead on Orchid
Mitchells & Butlers is understood to have moved ahead of private equity competition and entered exclusive talks to acquire the majority of Orchid Pub Company, for a sum of c£265m
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US restaurant concept launches fundraising bid
A new American restaurant concept whose directors include chef Steve Durham, who has worked with the likes of Sat Bains and Raymond Blanc, is looking to raise £150,000 on Crowdcube to expand to eight UK sites before examining overseas opportunities