Finance – Page 9
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NewsInsomnia Cookies to scale to 1,800 openings per year
Krispy Kreme has sold its remaining stake in the late night cookie concept to Mistral Equity Partners and Verlinvest, in a transaction which will accelerate Insomnia’s growth
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NewsRobust trading and estate management drives returns for Fuller’s
The pub company achieved like-for-like growth across food, drink, and accommodation, and further announced Simon Emeny will become executive chairman next month
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NewsGusto appoints advisors for strategic review
The Palatine-backed Italian restaurant group is understood to be working with Interpath as it seeks to secure additional investment to drive the business forward
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NewsThai Leisure Group reports strong profit growth
The operator of Chaophraya and Thaikhun has reported a significant increase in profit despite a challenging trading environment, as it continues to focus on operational resilience and brand strength
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NewsHospitality spend grows ahead of general slowdown
UK consumer card spending on hospitality and leisure spend rose 3.3% in May, above overall spending growth, according to the latest Barclays Consumer Spend report
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NewsPopeyes UK secures new £43m banking facilities
Alongside its existing support from owner TDR Capital, the new facilities give the QSR brand the flexibility to execute its plan to open around 45 restaurants this year.
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NewsPret owner explores new investors ahead of possible IPO
The European investment group, which acquired Pret for £1.5bn in 2018, has engaged advisers to explore options including a stake sale, people familiar with the matter told the FT
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NewsRemarkable Pubs reports lower profits but remains ‘in a very healthy state’
While lfl sales improved across most sites, profit before tax fell to £1.16m, down from £1.64m the prior year, which the 11-strong operator attributed to rising costs of sales and overheads
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NewsMcMullen’s profit tops £16m as retail division drives growth
Turnover at the group’s 115 managed pubs reached £115m, up 8.1% year on year, with gains supported by price increases, strategic investments and site acquisitions
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NewsTwo Magpies on track for another profitable year
The café and bakery group achieved a £450k profit in its last financial year by focusing on improving efficiencies to combat increasing costs
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NewsYoung’s pushes ahead with sector-leading growth
Like-for-like revenue growth stood at 5.7% in the year to 31 March, and 8% in the past nine weeks, with the pub company reporting total revenue of £485.8m
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NewsPatisserie Valerie owner narrows losses
The bakery business reported turnover of £20.3m, down 20% year-on-year, reflecting a strategic restructuring of its retail estate and a shift towards profitable growth
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NewsPunch Pubs completes £640m refinancing
The pub company, which operates c.1,264 sites, has extended its bond financing to December 2030 while increasing the bond from £600m to £640m.
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NewsDave’s Hot Chicken confirms Roark Capital acquisition
The private equity firm behind Subway and Dunkin’ was rumoured to have signed a deal valuing the chicken chain at $1bn
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Analysis & InsightGDK and True deal typifies renewed confidence in sector M&A
The recent deal adds to a growing crop of M&A transactions in the hospitality sector this year, with the partnership between GDK and True destined to offer more than just a boost to estate numbers, as MCA discovers
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Analysis & InsightDelivery and takeaway sales fall in April
The slowdown was attributed to the long Easter weekend and good weather, which encouraged consumers to dine out or socialise outdoors instead of ordering in
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NewsOne third of hospitality businesses now operating at a loss
A joint survey of pubs, bars, restaurants, and hotels found the number of operators making a loss had risen by 11% on the previous quarter
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NewsUK business confidence hits nine-month high as global trade tensions ease
The uplift was attributed to a recovery in global financial markets following President Trump’s decision to pause key tariff measures until July
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NewsAdnams embarks on asset disposal plan
The new management team at the Suffolk pub company and brewer are working on a commercial turnaround plan for the business amid “extremely challenging market conditions”
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NewsTrejo’s Tacos UK seeks investment for expansion
The Danny Trejo-founded Cal-Mex concept has the backing of Bank of America executive vice chairman Julian Mylchreest and Slim Chickens founder Tom Gordon