Finance – Page 29
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NewsRedCat 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
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NewsStarbucks paid £7.2m in UK corporation tax despite gross profit of £149m
‘Derisorily low’ tax bill again down to high royalty and licensing payments to parent company, The Guardian reports
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NewsJoe Lewis avoided jail. What now for his business empire?
The British billionaire and Mitchells & Butlers investor has been put on probation after admitting he orchestrated insider trading, The Sunday Times reports
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NewsTom Kerridge: The mid market is very, very difficult
The chef and high-end pub operator said he would be “absolutely terrified” if his business was solely reliant on restaurants, due to inflation and cost pressures
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NewsMajestic completes acquisition of Vagabond
The retailer and supplier has acquired the wine bar concept out of administration, saving nine bars from closure, though the Canary Wharf and Gatwick airport sites were not included as part of the deal
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NewsAnother year of record sales for JW Lees
JW Lees has achieved sales of £94.3m in the year to March 2024, up 10% year-on-year, according to managing director William Lees-Jones
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NewsWahaca reports strong performance in face of headwinds
The group reported turnover of £39.7m as it returns to the expansion trail this month, with the opening of its 14th site in London’s Paddington Square
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NewsThe Breakfast Club reports upturn in profitability
A significant loss in the first six months of FY23 led to a restructure of central costs, after which the business delivered £438k of EBITDA and continued profitability into FY24
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NewsAmber Taverns achieves record turnover
The community pub operator reported turnover of £110m, with an 11.3% rise in like-for-like sales, underpinning continued demand for its value offer
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NewsBill’s boosts EBITDA by 45%
The Richard Caring backed restaurant group reported EBITDA of £8m in 2023, driven by covers growth, strengthening efficiencies across the business, with menu pricing held at under 1% throughout the year
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NewsBrindisa reports strong demand across sectors
The restaurant, deli, and wholesale group, which operates Spanish restaurants including Kroketa in Soho, reported strong trading despite economic instability
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NewsRevolution temporarily suspends shares from trading
The pub and bar operator was unable to publish interim results by 30 March, with suspension from trading to be lifted following their publication in due course
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NewsCovid debt is haunting restaurant chains — but Wahaca has a lifeline
Repayments are bearing down on the Mexican chain and another London favourite, The Breakfast Club
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NewsButcombe Pubs & Inns reports record sales in March
The Liberation Group-owned business attributed strong sales to a bumper Mother’s Day weekend and the Cheltenham Festival
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NewsStarbucks to open further 100 UK stores
The coffee giant reported 22% year-on-year sales growth in the UK to £547.7m, with plans to grow its current estate of 340 drive-thrus
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NewsXP Factory sees opportunity to ‘make hay in underpenetrated market’
CEO Richard Harpham said the experiential operator opened so many sites so quickly in 2022, “we didn’t get everything right”, but added its brands Boom Battle Bar and Escape Hunt remain “highly resilient” to consumer headwinds
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NewsRevolution Bars ‘actively exploring’ all options
The pub and bar operator confirmed it is engaging with shareholders to fundraise, while exploring strategic options including a restructuring or partial or full sale
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NewsBig Mamma pushes ahead with global expansion
The Italian restaurant group said its acquisition by McWin would support its global expansion plans in Europe, the Middle East and United States
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NewsGail’s owners could begin sales process this year
Sky News reports Bain Capital Credit and EBITDA Investments, a fund backed by Henry McGovern of McWin, are drawing up plans to appoint bankers, potentially before the end of this year
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NewsArc Inspirations secures £7m
The funding from lender HSBC and shareholders including BGF will support plans for four sites a year over the next five years