Finance – Page 63
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NewsHeineken buys remaining shares in Beavertown
As part of the agreement, founder Logan Plant will step down as CEO and take on a new advisory role, with Jochen Van Esch becoming managing director
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NewsTRG reports slow recovery
The Wagamama and Barburrito operator reported like-for-like sales up 4% on 2019 and profit before tax of £10.2m, up from a 2021 loss of £19.9m
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NewsRekom UK in ‘rude health’
The late night operator said its target audience of 18-24 made it less likely to feel the impact of a pending recession compared to businesses with an older demographic
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NewsPeckwater secures £14m on Seedrs
Backed by Stonegate Group and SoftBank Investments, the virtual restaurant operator launched the crowdfunding round yesterday with a pre-money valuation of £50m
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NewsFoodservice performs for EG Group
Year-on-growth of 11% in gross profit was achieved within its foodservice operations in Q2, boosted by the contribution from recently acquired Leon and Cooplands Bakery
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NewsVegan meat producer raises £62m investment
Swiss-based Planted is being backed by L Catterton, the private equity division of LVMH, known for Louis Vuitton, Moët, Hennessy and Dior.
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NewsFulham Shore reports resilient trading
The operator of Franco Manca and The Real Greek has announced trading remains resilient, with 18 restaurants set to open within the financial year
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NewsTrust Inns reports return to profit
The 350-strong Northwest pub operator announced a return to profit in the year ended 31 March 2022, from a loss of £8.5m the year before
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NewsYO! operator reports record performance in 2021
Snowfox Group, the operator of YO! Sushi, announced UK turnover rose from £61m in FY20 to £101.8m in 2021
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NewsNQ64 secures £2.5m in funding from ThinCats
The retro arcade bar, backed by Imbiba, has opened five sites within the past 18 months and is targeting openings in major UK cities, including Leeds, Bristol and Brighton
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NewsCineworld on brink of bankruptcy after Covid slump
The world’s second-biggest cinema chain has warned it is in discussions to restructure the business, The Telegraph reports
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NewsMinisters plan energy crisis bailout for smaller businesses
Proposals come as ex-Ofgem boss urges more help for poor, The Sunday Times reports
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NewsIndividual Restaurants reports loss in 2021
The operator of the Piccolino, Riva Blue, and Restaurant Bar & Grill brands reported a loss of £8.2m for the financial year ending 27 March 2022
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NewsEgo Restaurants makes ‘significant progress’
3Sixty Restaurants, which operates the Ego JV with Mitchells & Butlers, reported profit for the year to March 2022 of £3.8m, compared to a loss of £842k in 2021
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NewsJust Eat to dispose of iFood stake
The delivery company has announced it has entered into an agreement to sell its equity stake of around 33% in the iFood joint venture to Prosus, for a cash consideration of up to €1.8bn.
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NewsThe Alchemist sees sales treble
The Palatine-backed operator achieved a “very strong financial performance” in FY2021/22, with profit before tax of £2.35m, compared to a loss of £5.5m in 2021
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NewsBob Bob Ricard secures 'seven-figure sum' for expansion
The luxury London restaurant business has obtained additional growth capital funding from alternative lender ThinCats
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InterviewsBrakspear: ‘We are back in survival mode’
The 120-strong pub operator may still be seeing good levels of trade, but the focus now is on keeping costs in check in order to ride out the storm of cost pressures, CEO Tom Davies has told MCA
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NewsSoho House increases members
The private members club increased its UK membership by 20% in the last year from 45,277 to 54,764
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NewsPatty & Bun reduces losses in 2021
The burger brand has appointed former itsu CEO and Pret franchise director Gerard Loughran as a non-executive director