Finance – Page 86
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NewsSoho House makes lacklustre IPO debut
Soho House saw its share dip almost 10% after its debut on the New York Stock Exchange yesterday (15 July).
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NewsTortilla: IPO an exciting opportunity
Tortilla CEO Richard Morris has confirmed the burrito brand is looking at a possible IPO after appointing investment bank Liberum to explore its options.
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NewsPatisserie Valerie made £10m loss
Patisserie Valerie has made a £9.8m loss in the 14 months to March 2020, but the brand is now focusing on growing its routes to market and is reaping the rewards from its partnership with Sainsbury’s.
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NewsDark kitchens and meal kits bolster Shoryu Ramen
Shoryu Ramen has forecast a moderate recovery scenario where its 2021 restaurant sales are down 42.4% on 2019 levels.
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NewsPizzaExpress concludes refinancing
PizzaExpress has concluded its long-term refinancing as CEO David Campbell hailed a “transformational year” for the business.
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NewsFuller’s ‘perfectly placed’ to benefit from return to normal life
Fuller’s has hailed a resilient performance after seeing its revenues fall by 77% in a year dominated by lockdowns.
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NewsFriska sold in pre-pack
Bristol café and quick-service restaurant chain Friska has been sold in two tranches after entering administration on Monday.
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NewsJDW expects sales to return to 2019 levels
J D Wetherspoon has reported like-for-like sales were down 14.6% between 17 May-4 July.
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NewsTen Entertainment hails 'return to profitability'
Ten Entertainment Group (TEG) has hailed “a return to cash generation and profitability” after reopening on 17 May.
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News‘Brand love remains strong’ at Wahaca
Despite a difficult year, Wahaca believes that the brand’s focus on sustainabilty, quality and value gives it a competitive edge and puts it in a strong position relative to its peers.
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NewsRevolution anticipates ‘rapid recovery’
Revolution Bars Group reports that trading since 17 May is now up to 86% against the same period in 2019 when there were no Covid restrictions.
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NewsThwaites hails tenanted model
Daniel Thwaites has hailed the merits of a freehold-based tenanted pub model, saying it had passed the test of the pandemic “with flying colours”.
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NewsEverards estate fully let and ready for 19 July
Everards has reported revenues were down 38% to £19.1m last year, with an operating loss of £1.2m.
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Punch carries out £600m debt refinancing
Punch Pubs has completed a £600m debt refinancing process in order to strength its position coming out of the pandemic.
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NewsTasty negotiates favourable lease terms for majority of restaurants
Tasty has agreed consensual lease concessions and rent reductions on more than 80% of its estate and is continuing to negotiate with landlords and other creditor on any outstanding debts, it has said.
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NewsBrewDog co-founder in spotlight over potential conflicts of interest
BrewDog co-founder James Watt is having to sell off personal property assets linked to the brewer and pub operator in advance of a planned flotation due to concerns about potential conflicts of interest, it has been reported.
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NewsBob Bob Ricard secures funding to reopen
Renowned London restaurant Bob Bob Ricard has secured a working capital funding package from alternative lender ThinCats in order to support the reopening of its two venues.
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NewsMcMullen & Sons sees profits almost half
McMullen & Sons, the Hertford-based brewer and pub operator, saw turnover decline from £93m in 2019 to £64.4m for the 52 weeks to 27 September 2020.
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NewsGreggs experiencing stronger sales recovery than expected
Greggs has seen like-for-like sales growth of between one and three percent in its company-managed shops against the same period in 2019, since restrictions were eased earlier this year.
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NewsCity Pub trading at 90% of 2019 levels
City Pub Group has said it is now trading at 90% of the levels seen in 2019, from the 42 pubs it has opened since outdoor trading commenced in April.