Finance – Page 64
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NewsNightcap agrees new debt refinancing facility
The owner of the Adventure Bar Group, Barrio Familia, and The Cocktail Club has agreed a £10m facility with HSBC, partly to be used for capex on new sites
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NewsBrewDog shares first of ‘blueprint’ profits
The craft beer brewer and bar operator described the new rewards scheme as “setting the bar higher for hospitality workers everywhere” and said job applicants were up more than 75%
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NewsWendy’s rolls back on UK growth targets
Wendy’s is now expecting to have 35 UK restaurants open by the end of 2022 – down from the 50 to 60 previously spoken about – but is still bullish about the market.
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NewsBone Daddies secures new loan facilities
The operator of the Bone Daddies ramen chain and Flesh & Buns will fund new capex with Investec loan facilities secured in June
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NewsDeliveroo growth slows amidst headwinds
The delivery company reported gross transaction value up by 8% in the UK and Ireland but a slowdown in growth in the second quarter, in its half year update
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NewsHeart with Smart reduces losses by £28.5m
The franchise operator of Pizza Hut Restaurants and Itsu believes market fundamentals continue to be strong and is actively seeking additional brand partners alongside the acceleration of its openings strategy for Itsu
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NewsGordon Ramsay Restaurants makes £6.8m pre-tax loss
The group, which added 10 restaurants to its portfolio in the last financial year, said it remained committed to its growth strategy
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NewsKFC UK reports quarterly sales decline
In a financial update, Yum! Brands reported a quarterly sales decline of 8% at KFC UK & Ireland, and a 1% decline in the year to date
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NewsNightcap revenues soar beyond pre-pandemic levels
In its year-end trading update, the Adventure Bar group and Barrio Familia owner reported a 73.2% revenue increase in Q4 of FY2022, compared to 2019
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NewsD&D revenues yet to return to pre-Covid levels
The restaurant group said revenues in the UK were at 91% of pre-Covid levels but that the business was well placed to “significantly scale up” in the UK and overseas
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NewsJust Eat reports 7% growth in revenue
The delivery service announced enhanced profitability and revenue growth in H1 2022, despite a post-pandemic decline in gross transaction value
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NewsRed Oak secures £110m debt facility
The facility refinances Red Oak’s existing debt and provides fresh capital to drive future growth plans
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NewsHarts Group reports “satisfactory” year
The London-based restaurant group has reported profit before tax of £331k for the year to 31 July 2021, on the back of a losses in 2020.
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NewsVAT and inflation drag on Domino’s
Underlying profit before tax was £50.9m during the first half, down £9.9m, with the full impact of cost inflation not expected to be seen until the second half
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NewsRevolution Bars Group ‘in great shape’
The business reported full year like-for-like sales growth of 1.3% across its 56 English bars, in line with expectations
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NewsThe Vurger Co secures high profile investor
The vegan burger restaurant operator has secured investment from ForGood – a consultancy launched by AS Roma centre-back Chris Smalling.
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NewsGreggs to open 150 stores in 2022
Despite strong sales growth, the bakery’s profits for the half year were flat, due to the re-introduction of business rates, increase in VAT and higher levels of cost inflation
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NewsHub Box reduced losses in 2021
The South West-based burger chain said company EBITDA of £1.5m represented its “best ever financial year” and is exploring different funding streams for future growth
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NewsShepherd Neame acquires three Essex pubs
Bellhouse in Leigh-on-Sea, The Exchange in Southend-on-Sea and The Hamlet Court in Westcliff-on-Sea were part of the East Anglia Pub Company portfolio
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News‘Strong’ start for new Chipotle UK restaurants
The Mexican fast-casual chain has opened five sites in the UK in the last 18 months, including Watford, Clapham, Canary Wharf and Chiswick