Finance – Page 89
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NewsCity Pub Group looks to future despite losses
City Pub Group has posted 2020 losses of £6.5m as its estate was heavily impacted by lengthy closure periods.
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NewsRevolution trading ‘extremely strongly’
Revolution Bars Group achieved 48% of sales in the four weeks to 9 May 2021 compared to the equivalent period in 2019 – despite only having around 15% of capacity available due to outside trading restrictions.
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NewsGreggs’ profits due to be better than expected
Greggs has reported a like-for-like sales decline of 3.9% for the most recent eight weeks of trading, compared to the same period in 2019.
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NewsReconsider rates cap, or systematic closure of pubs will continue
The government must reconsider the £2 million cap on business rates relief it is proposing to implement when the rates holiday comes to an end on 30 June, according to Colliers.
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NewsCôte sold for £56.5m
Partners Group paid £56.5m for Côte Restaurants in a pre-pack sale, an administrators’ reports reveals.
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NewsPuttshack secures new round of funding
Puttshack has completed a new growth capital round of $60m (£43.1m) led by existing backer Promethean Investments to fund growth in the U.S., and UK and around the world.
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NewsBar closures drag on AB InBev
AB InBev’s European business saw a low-single digit decline in revenues as a result of Covid-19 restrictions.
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InterviewsHawthorn: Listed space ‘remarkably resilient’
Hawthorn kicked off its IPO roadshow yesterday, with CEO Mark Davies telling MCA public markets were “as hot as they have been since 2011”.
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NewsByron owner snaps up Mother Clucker
Fried chicken brand Mother Clucker has been acquired by Famously Proper, the owner of Byron.
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NewsNightcap acquires Adventure Bar Group
Nightcap, the recently formed bar and late-night group, has secured its second acquisition with an agreement to buy Adventure Bar Group, the operator of Bar Elba, Blame Gloria, Luna Springs and Tonight Josephine.
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NewsAsahi acquires Allpress Coffee
Asahi has acquired Allpress, the speciality coffee company with a presence in the UK, New Zealand Australia, Japan and Singapore.
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NewsGreene King extends available loans to £1.5bn
Greene King reports it remains well capitalised, with the upsizing of its revolving loan facility increased financial flexibility from parent company CKA Holdings to £1.5bn.
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NewsCity Pub stakes pave way for full control
City Pub Group’s acquisition of stakes in two high quality and complimentary businesses, pave the way for full control in the future, according to analysts Liberum.
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NewsKFC sees strong growth
KFC grew sales in the UK by 16% in Q1, the second biggest increase worldwide after China.
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NewsCity Pub Group ups Mosaic stake
City Pub Group has acquired a 49% stake in Kensington Park Hotel and increased its shareholding in Mosaic Pub and Dining.
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NewsHakkasan acquired by Tao Group Hospitality
Hakkasan Group has been acquired by US-based Tao Group Hospitality, which plans to expand its global portfolio of brands including in the UK.
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NewsWhitbread makes £1bn loss
Whitbread, the hotel and restaurant operator, has reported a statutory loss before tax of £1bn, as revenue fell 71.5% to £589.4m during a year of lockdowns and restrictions.
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NewsRisk appoints at the top for Curious after completing acquisition
Risk Capital Partners (RCP) has appointed Mark Crowther and Simon George as chairman and managing director of Curious Brewery, respectively, as it confirms the completion of its purchase of the business.
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NewsJAB pumps £185m into Pret
Pret A Manger received a £185m cash injection from owner JAB Holdings earlier this year, Companies House accounts reveal.
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NewsAdnams reports £3.7m operating loss
Brewer, pub operator and retailer Adnams saw sales down for the 12 months to 31 December, from £74.7m in 2019, to £50.6m in 2020. The company posted a £3.7m operating loss, compared to profit of £719k for the same period last year.