Finance – Page 58
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NewsWasabi still keen to expand UK restaurant portfolio
The Capdesia-backed business views expansion into more suburban locations as an attractive area for future growth
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NewsLucky Saint raises £10m
Funding for the alcohol-free beer brand was led by venture capital firm Beringea and JamJar Investments, set up by the founders of Innocent Drinks
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NewsTRG announces £340m debt package
The Restaurant Group has agreed a £220m Term Loan Facility and a £120m Revolving Credit Facility with its existing lenders
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NewsGrind sees partial bounce back
The coffee shop operator’s larger venues have returned to pre-pandemic levels, but smaller city sites are still struggling with decreased footfall
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NewsDrake & Morgan reports ‘resilient’ performance
The 18-strong Bowmark Capital-backed group said its performance had continued to improve in the current financial year with strong trading so far this Christmas
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NewsWingstop's master franchisee records +182% revenue uplift
Lemon Pepper Holdings said it was anticipating “aggressive development” through 2023, with several new locations already secured for the new year.
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NewsLiberation Group and Cirrus Inns announce merger
Liberation CEO Jonathan Lawson will lead the combined group, with Cirrus founder and CEO Alex Langlands Pearse joining the board as a non-executive director
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NewsAdmiral Taverns turnover boosted by Hawthorn integration
The c1,550-strong pub operator reported turnover of £152.8m following the successful integration of the Hawthorn Community Pub Company
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InterviewsInvestor view: ‘Moving into retail is not for the faint hearted’
For operators looking to expand into the retail channel it’s important to very clear about your proposition, “and don’t let people muck you around”, Robin Rowland, partner, TriSpan has warned.
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NewsFulham Share reports ‘creditable performance’
Franco Manca operator continues momentum despite disruption to consumer confidence, costs and public transport
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NewsFranco Manca scales back openings for 2023
In its half year report, Fulham Shore said it would be imprudent to maintain 2022’s opening tally of 18 new restaurants
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NewsAMT sold for £1.75m
A total of 25 of AMT’s 43 sites were included as part of the deal, with a further six subsequently sold to Gourmet Coffee Bar & Kitchen for £62.5k
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InterviewsInvestor view: ‘The ability to stretch your brand is a sign of strength’
The successful adoption of an omnichannel approach demonstrates the strength of your brand, but it’s not for everyone, delegates heard at the Omnichannel Foodservice Conference.
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NewsShake Shack UK seeks to develop omnichannel strategy
Franchise operator Diverse Dining is also in negotiations with landlords for new sites, according to accounts filed at Companies House
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NewsHawksmoor sees strong sales momentum return
The restaurant group recorded an increase in turnover of 74% to £35.7m for the year to 31 December 2021 but a loss of £2.3m, despite strong trading
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NewsBoston Tea Party FD steps down
Julie Centracchio has stepped down as finance director at the 25-strong cafe group
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NewsGail’s turnover driven by new openings
The premium bakery chain reported turnover of £62m for the five months ended February 2022 and £100m for the entire year, a 76% rise on the prior year
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NewsETM Group reports return to EBITDA profitability
The 13-strong London-based operator reported a turnover of £21.6m in the year to February 2021, and a return to EBITDA profitability of £2m
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NewsMitchells & Butlers sees profits recover
Excluding utilities, Mitchells & Butlers has reported profits have broadly recovered in the year to September 2022, with a total revenue of £2,208m
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NewsSSP Group announces return to profit
The operator has announced its results for the year ended 30 September 2022, with recovery in passenger demand and a shift in focus towards North America and Asia