Finance – Page 7
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Weekend Press
Asda’s owners piled on £1.5bn of liabilities to fund petrol station deal
Issa brothers and private equity firm TDR used property sale and leasebacks as well as borrowing against ground rents, the Financial Times reports
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News
Heineken UK investing £39m in pub estate
The investment will go towards reopening 62 closed pubs, and improving around a quarter of Star’s 2,400 estate, worth on average £200k per pub
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News
Rekom UK taken over by lender ACG
The late night and bar group will be renamed NEOS Hospitality and led by Russell Quelch, as it separates from its former owner, the Danish Rekom Group
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News
Hostmore hails transitional year and turnaround of business
The TGI Fridays operator made cost savings and narrowed its losses in 2023, though like-for-like sales were down 7% in Q1 2024
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News
Wingstop UK leads the way across globe
The UK business is achieving average unit value (AUV) north of $2.5m (£2m), compared to a system-wide wide figure of $1.9m (£1.5m), allowing it to accelerate growth
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News
Wendy’s aims for 400 UK restaurants
The fast food chain expects to have up to 50 sites by the end of the year, with the UK serving as a ‘key strategic market’, according to CEO Kirk Tanner
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Analysis & Insight
Stonegate’s looming debt issue
The UK’s biggest pub and bar company has debts totalling £2.2bn, a situation exacerbated by high interest rates, the overall cost of debt for its complex tiered debt structure, and different parties not being able to agree a way forward in refinancing, analysts tell MCA
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News
Starbucks sees sales dip
The coffee giant, which revealed plans earlier this year to open a further 100 stores in the UK, has reported a 4% decline in global comparable sales in Q2
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News
City Pub Group sees 20% uplift in like-for-likes
The group, which was acquired by Young’s in a deal completed earlier this year, reported total group revenue of £74.5m in 2023 and a ’fantastic’ sales performance over the festive period
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News
Yum! Brands trialling more than 40 AI initiatives
The group has reported a 1% decline in KFC UK sales but continues to see opportunity for more than 50,000 restaurants globally, as it looks to become the ’leading digital restaurant company’
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News
The Coffee House secures £4m investment
The Northwest-based coffee shop operator, which plans to scale to over 30 sites within the next 12 months, has secured an investment from AJ Bell founder Andy Bell
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News
Mowgli reports 15% growth in sales
The Nisha Katona-led Indian restaurant group grew sales to £30.9m, as it looks to continue expanding in the UK and go international further down the line
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News
Whitbread: Hotel extensions ‘much more profitable’
CEO Dominic Paul discusses the strategic rationale behind the group’s plan to exit 126 branded restaurants and convert a further 112 into hotel rooms for its Premier Inn brand
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News
Revolution Bars Group raises £12.5m in open offer
The pub and bar group has postponed a general meeting originally scheduled for tomorrow to give it more time to explore all strategic options, which also include exploring a formal sales process
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News
RBI: Popeyes ‘still early’ in its journey
Restaurant Brands International also revealed its ‘Reclaim the Flame’ plan has driven strong results for Burger King
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News
Hostmore temporarily suspends listing
The TGI Fridays operator has requested its ordinary shares to be suspended from the London Stock Exchange, pending publication of its annual report
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News
McDonald’s: ‘Headwinds more significant than anticipated’
The fast food giant expects ‘moderated’ top line growth this year, but continues to invest in its loyalty scheme, a new and more ‘satiating’ burger, as well as the rollout of beverage-led concept CosMc’s
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News
Domino’s sales down amid ‘softer delivery market’
The pizza group saw a decline in sales growth and orders in Q1 which it blamed on a tough comparitive and a slow January
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News
Heart with Smart extends senior debt until 2027
The operator of Pizza Hut Restaurants and itsu franchises has also appointed Steve Packer, an existing member of the management team, as CFO, as Andy Platt steps into semi-retirement
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News
Whitbread to exit 126 restaurants and convert 112 into hotel rooms
The Premier Inn operator will invest £500m in the plan, which will incur up to £100m in impairment charges and £25m in cash costs, and involve the loss of 1,500 job roles