Finance – Page 75
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NewsMarston’s predicts a return of strong trading momentum
The pub company saw like-for-like sales fall by 3.9% for the 16 weeks to 12 January, reflecting the impact of Omicron
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Weekend PressHospitality groups take on insurers over lockdown losses
A second wave of multi-million pound lawsuits brought by pub and restaurant groups, over lockdown losses, are to hit London’s courts from next week, reports Reuters.
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Weekend PressCorbin & King battles biggest investor
The owner of The Wolseley has filed a motion in the High Court to stop its majority owner, Minor Hotels, calling in a £35 million loan, which would have forced the company into insolvency, reports The Sunday Times
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NewsPeach beats the trend with a ‘wonderful’ Christmas
In the five weeks of Christmas and New Year, the pub company was up 3.1% on 2019
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NewsTRG revises up its profit forecast
The group’s like-for-like sales for October, November and December show it broadly outperformed the market, and was trading above 2019 levels before Omicron hit
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NewsCity Pub Group 2021 in line with expectations
January 2022 began slowly, but in the last 10 days the pub operator reported a “significant increase in trade” as consumer confidence returns
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NewsRevolution’s Christmas parties rebook for New Year
Despite seeing cancellations, Revolution Bars Group had a mostly strong second half of 2021, with like-for-like sales from July-November +14% versus two years ago.
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NewsDeliveroo caps off ‘excellent year of growth’
The company reported continued UK market share gains in Q4 2021, with transactions up 36% year-on-year
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NewsJDW like-for-likes down +15% in Q2
JD Wetherspoons chairman Tim Martin said the company would be loss-making in H1, but hoped that the end of restrictions would contribute to a much stronger second half
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NewsInn Collection secures £42m from OakNorth
The new capital will be used to refurbish 13 of the Inn Collection Group’s existing sites and to support the continued development of its current property portfolio.
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NewsPoke House planning UK IPO
Italian poke restaurant chain Poke House is looking to list on the London markets as part of its plans to open 65 sites in the region over the next two years
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NewsNew grants for City of London businesses
The £10m scheme aims to support retail, hospitality and leisure businesses that have been hit by Omicron restrictions
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NewsNew Year trading up for Brighton Pier Group
While trading was impacted during December, Brighton Pier Group achieved a 9% increase in sales at its bars over the New Year period.
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NewsHostmore sees December revenue down 8.3%
Despite continued uncertainty around Covid, the operator of Fridays and 63rd+1st said it was positive about the future, with its first QSR format site to open in March and many other sites in the pipeline
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NewsSA Brain poised for £100m pubs disposal
SA Brain is on the verge of signing a deal to sell 100 of its pubs to a consortium comprised of Song Capital and Cerberus Capital Management, according to Sky News.
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NewsWetherspoon’s founder Tim Martin says British boardrooms are ‘havens of wokery’
The pubs boss told the Mail on Sunday There is “too much virtue-signalling” and too little attention to more important fiduciary duties
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NewsBrewDog steps out of the dog house still keen to float
Chief executive James Watt says the firm has learned from past employees’ complaints and is set for a £75m expansion, The Sunday Times reports
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NewsFlipdish raises £69m
The Dublin tech company, which helps restaurants bring delivery in-house, will use the funds to expand in the UK, Ireland, the US and France
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NewsCaffè Nero completes £330m debt restructure
The refinancing effectively ends EG Group’s Issa brothers’ takeover ambitions of the chain
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NewsM&B feels impact of Omicron on Christmas trading
Mitchells & Butlers has reported a total sales decline of 5.2% for the year to date as the impact of Omicron had a noticeable impact on festive trading.