Finance – Page 94
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NewsMarston’s seeks bondholder waivers for third time
Marston’s has once again asked its bondholders for a number of waivers of its financial covenants, for the second half of 2021.
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NewsHawksmoor secures £4m loan to aid liquidity through crisis
Steakhouse concept Hawksmoor secured a £4m loan to aid its liquidity through the pandemic, accounts on Companies House reveal.
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NewsState aid cap upped to £10.9m
The state aid cap on government grants has been raised to £10.9m, Paul Scully, the minister for business, consumers and labour markets has confirmed.
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NewsBill’s reviews loss-making sites
Bill’s Restaurants continues to have the backing of major shareholder Richard Caring, who has indicated he would be willing to support the group should cash funding be required, if this was not available through its banks.
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NewsRevolution anticipates ‘rapid rebound’
Revolution Bars Group plans to reopen 20 of its bars on 12 April, when hospitality is able to trade outside, and the entire 66-strong estate on 17 May.
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NewsChancellor’s Budget unveiled
The business rates holiday and 5% VAT rate will be extended in their current state until the end of June, and phased out over the coming year, the Chancellor has announced.
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NewsWelsh hospitality set for additional £180m in lockdown support
Hospitality, leisure and tourism businesses affected by ongoing coronavirus restrictions in Wales could see an additional £180m in extra support, the Welsh Government has announced.
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NewsReilley: ‘Budget the most important day in history of hospitality’
The Budget is arguably the most important day in the history of the hospitality sector, with Sunak’s support set to either provide “desperately needed hope” or “a single, devastating blow,” Loungers Chairman Alex Reilley has said.
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NewsFurlough to be extended until end of September
Chancellor Rishi Sunak will extend the furlough scheme until the end of September in today’s Budget, which is expected to include a support package in excess of £20bn.
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NewsTRG debt renegotiation met with positive reaction
The Restaurant Group’s (TRG) announcement yesterday (1 March) that it had renegotiated is debt facilities has been met with positive notes from analysts.
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NewsTRG commits to new £500m debt facilities
The Restaurant Group (TRG) has signed commitments in relation to £500m of new debt facilities, which comprise a £380m term loan facility and a £120m super senior revolving credit facility.
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NewsAPPG for Hospitality and Tourism urges Chancellor to offer financial support
The All-Party Parliamentary Group for Hospitality and Tourism has called on Chancellor Rishi Sunak to provide decisive financial support to the sector in his upcoming Budget.
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NewsUrban Pubs & Bars sees significant lockdown losses
Urban Pubs & Bars lost out on £2.5m in sales in the first month of the March lockdown, and incurred a significant shortfall in profit due to its inability to mitigate costs immediately at the point of closure.
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NewsSoho House eyes $3bn Wall Street float
Soho House, the Richard Caring-backed private members club concept, plans to list in New York with a valuation of up to $3bn.
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NewsShaftesbury looks to ‘revival of West End economy’
West End landlord Shaftesbury has collected less than half of owed rents for the quarter to December 2020, but has heralded the upcoming “revival of the West End’s economy” with the relaxation of restrictions in months ahead.
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NewsVarious Eateries ‘ideally positioned for expansion’
Various Eateries is set to pursue an aggressive post-lockdown expansion drive, with plans to “create a major leisure group” this year.
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InterviewsMatt Snell: Furlough costs Gusto £50k a month
The furlough scheme is a benefit for employees, rather than businesses, and must be understood as such, MCA’s The Conversation has heard.
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NewsHospitality companies see stocks rise on back of roadmap announcement
Investors have snapped up hospitality and leisure stocks following the announcement by Boris Johnson of his roadmap out of lockdown on Monday.
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NewsM&B: £351m fundraise critical for future
Mitchells & Butlers has set out further details of its plans to launch of an open offer to raise up to £351m.
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NewsLeon burning through £200k a week
Leon CEO John Vincent has warned that a longer lockdown “will cost lives” as he reveals that his food to go brand is losing £200,000 a week.