Finance – Page 77
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NewsThe Alchemist on ‘very sound financial footing’
While sales were down almost £30m for the year to 31 March 2021, a combination of refinancing, strong sales and additional equity has meant The Alchemist is in a solid position
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NewsWelsh business rates relief welcomed
Hospitality businesses in Wales are to benefit from a 50% reduction in business rates, but additional support is critical, warns UKHospitality Cymru.
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NewsShepherd Neame to offer new year rent reduction
The family brewer and pub operator has announced it will be introducing a 10% rent reduction for its licensees from 1 January 2022.
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NewsGaucho and M seeing strong trading
Parent company Lomo Topco said its 16 Gaucho and three M Restaurants had come through the pandemic in as strong a position as could reasonably be expected
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NewsDomino’s ends long-running franchisee dispute
The resolution will see Domino’s spend £20m on digital enhancements, in return for at least 45 new store openings a year
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Analysis & InsightPunch deal: Pub package values up 36%
Geoffrey Collyer of Lavender Bank Partners crunches the numbers on the Punch/Fortress deal, and finds private equity players are taking a long-term view on “pure property” leased & tenanted estates
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Analysis & Insight
Punch to explore M&A under new backer
CEO Clive Chesser told MCA the increased firepower under Fortress would allow Punch to explore further acquisition opportunities. Meanwhile one analyst suggested the regionally-alligned but under-performing Marston’s could be a key target
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NewsPunch acquired by Fortress
The deal sees Fortress Investment Group acquire 100% of the share capital, along with existing management, of Punch owner Vine Acquisitions from Patron Capital Partners
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NewsPrepare to bring back furlough, Sunak warned
The IMF has warned Chancellor Rishi Sunak that targeted support packages must be in place in the event that further restrictions are implemented, The Telegraph reports
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NewsHollywood Bowl reports ‘challenging but rewarding’ year
Hollywood Bowl has strong consumer demand return with record like-for-likes in August.
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Analysis & Insight‘Wall of capital’ expected to target pubs next year
Global real estate advisor CBRE has predicted “record M&A activity” across the leisure and pub sectors in 2022.
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NewsTim Martin: ‘Predictions for profits are hazardous’
JD Wetherspoon’s chairman Tim Martin has hit out at the government’s “radical changes of direction”, stating the implications of further restrictions could lead to a loss-making first half.
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NewsOakman Group: ‘We’ve had plenty of interest in share scheme’
The group is looking to raise £5m from its first public share offering, executive chairman Peter Borg-Neal has told MCA.
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NewsBill’s confirms closures as losses widen
The Richard Caring-backed group closed 14 loss-making restaurants during the last financial year as cost pressures forced it to revaluate their performance.
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NewsOakman to launch public share offering
The Oakman Group is to launch its first FCA regulated fund raise with its first full public share offering to open on Friday 17 December.
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NewsOakman achieves +16% rise in like-for-likes
Chief executive Dermot King said he did not expect Oakman to be negatively impacted by the recently introduced Plan B restrictions and has forecast year-end sales in excess of £64m.
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NewsKFC saw small decline in like-for-like sales last year
The fast food chain’s like-for-like sales in the UK declined by 1.6% for the full year to 27 December 2020 on the back of strong trading in the second quarter.
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NewsSSP reports revenue decline of +40%
The group said trading levels had improved over the summer and autumn, with revenue averaging 66% of 2019 levels in the first nine weeks of the new financial year.
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NewsHostmore to increase rate of expansion
In its first update since listing on the London Stock Exchange, the operator of Fridays and 63rd+1st said it had lined up five further sites across the two brands, as EBITDA exceeds 2019 levels.
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Analysis & InsightFuller’s has good opportunity for M&A
Fuller Smith & Turner could dispose of its tenanted inns division and use the funds to acquire City Pub Group, a note from Panmure Gordon has suggested