Finance – Page 28
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NewsWells & 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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NewsDeliveroo: ‘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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NewsWagamama 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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InterviewsTGI 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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NewsRevolution 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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NewsHostmore 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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NewsGymkhana 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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NewsFulham Shore turnover nears £100m
Franco Manca and The Real Greek brands both reported strong revenue and estate growth in 2023
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NewsCooks Coffee sales up 17% to £27.9m
The Esquires operator plans to open more than 10 outlets in Q2 2024
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NewsBusaba 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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NewsCaravan 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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NewsRevolution 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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NewsRevolution 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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NewsPortobello 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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NewsTasty 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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NewsSessions 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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NewsRevolution 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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NewsStonegate 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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NewsRed 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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NewsStarbucks UK plans 100 stores in 2024
Starbucks said it has continued to see growth in the UK coffee market, in spite of the macroeconomic conditions that have impacted the market