Finance – Page 76
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NewsPret to invest more than £9m in staff pay
Pret A Manger has announced that from April 2022, 85% of its team members will earn at least £10 per hour.
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NewsWhitbread sees F&B sales slide
Whitbread has reported a fall in total food and beverage sales of 11.1% during Q3 in a value pub and restaurant sector which “remains challenging”
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NewsJust Eat to continue significant investment in London
Just Eat Takeaway.com has said it will continue to invest heavily in its London network, as part of its plan to further improve profitability in that market in 2022.
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NewsUpham makes ‘strong headway’ on repositioning
Pub operator Upham Group has seen “positive indications” that its strategic refocus and development agenda is making a positive impact on its long-term business.
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NewsStonegate acquires remaining 25% of Hippo Inns
The premium, neighbourhood pub operator was founded by Rupert Clevely as a joint venture with Enterprise Inns in 2015 as part of its Managed Expert partnerships
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NewsNightcap sees sales up almost 50%
The operator of Adventure Bar Group and The Cocktail Club businesses said it was was well positioned for significant expansion as its enters 2022
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NewsTortilla sees like-for-like growth up +23%
Fast-casual Mexican chain Tortilla achieved a 79% increase in group revenue for the full year to 2 January 2022, compared to the same period last year, aided by the addition of seven new company-operated sites
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NewsC&C trading boosted by return to hospitality
Trading in Q3 was modestly ahead of expectations, with increased profit and cash generation during the period to end of November.
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NewsTen Entertainment sees record festive trading
Ten Entertainment has reported a +32.4% increase in sales since reopening its bowling and family entertainment centres in May 2021, compared to 2019 levels.
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NewsGreggs sees like-for-like sales up on 2019 levels
The food to go retailer said it was in a strong financial position coming into 2022 and well placed for the opportunities that lay ahead
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NewsPotential still exists for Leon US
Following a strategic review at the beginning of 2021, Leon exited the US – closing its four sites – in order to focus on the UK.
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NewsEverards' sales down 10% in Q1
Managing director Stephen Gould said government support, by way of grants, “is appreciated but sadly does not go far enough”.
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NewsItsu writes off £4m New York investment
The company has decided to impair the full value of the investment in its USA operations, which consists of just one site. It will instead focus on regional and new international store openings under its new partnership model
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NewsHush Collection shows ‘agility and adaptability’
The 12-strong, London-based restaurant group reported 2020 turnover of £8.42m, 20% down on 2019
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NewsSessions raises £7.3m Series A funding
The business said it would use the investment to open new food halls across the UK, set up a “one of a kind food studio”, and expand its team
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NewsACI well-placed to exploit growth opportunities
Premium gastropub operator Anglian Country Inns reported strong consumer demand drove its recovery to financial strength in 2021
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NewsGino D’Acampo’s My Pasta Bar enters liquidation
Beesley Corporate Recovery has been appointed liquidator at the three-strong London-based brand
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NewsBKUK adds to corporate estate
Burger King UK has agreed to acquire 12 restaurants from franchisees Kaykem Fast Foods Limited and Saxby
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NewsArc Inspirations sees Q2 revenue up 42%
The bar group experienced a 42% uplift in sales between July and November this year, versus 2019, and says it is on track to post record revenue and profit in FY2022
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NewsNWTC seeing many opportunities to build pipeline
New World Trading Company, which has been trading ’ahead of expectations’, expects to open between five and eight sites annually from 2022.