Finance – Page 96
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NewsLuke Johnson’s RCP to acquire Chapel Down beer business
A Risk Capital Partners NewCo has been established to acquire the Chapel Down-owned Curious Drinks business.
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NewsBounce Back extension to give “valuable breathing space” to hospitality
An extension of the Chancellor’s Pay as You Grow repayment flexibilities will “give valuable breathing space” to many hospitality businesses, as long as banks cooperate with the new flexible terms, UK Hospitality CEO Kate Nicholls has said.
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NewsPrezzo faces insolvency over rent arrears
The owner of Prezzo is exploring whether to put the Italian restaurant chain through an insolvency process amid continued uncertainty about the industry’s reopening timetable, Sky News reports.
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NewsFulham Shore to restart expansion when normal trading resumes
Fulham Shore has reported it is trading at around 46% of normal trading levels during lockdown.
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NewsRestaurant losses up 112%
Losses at the top 100 UK restaurant groups increased 112% to £517m last year, rising from reported losses of £269m at the end of last month.
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NewsOaktree backs Anand’s pub vehicle
Rooney Anand’s pub investment vehicle Redcat Pub Company has been backed by US investment firm Oaktree, the Telegraph reports.
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NewsKFC UK outperforms global markets
KFC system sales in the UK saw the biggest uplift of all its markets in Q4 last year, according to Yum! Brands financial reports.
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NewsWhitbread refinances debt with green bonds
Whitbread has refinanced its debt, with the pricing of two green bonds, extension of its revolving credit facility and its intention to repay private placement notes.
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Analysis & InsightJP Morgan on The Restaurant Group
JP Morgan has downgraded its revenue forecasts for The Restaurant Group (TRG) as the likelihood of significant restrictions continuing past the first quarter of this year increase; but it remains positive about the group’s expansion prospects, particular through Wagamama.
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Analysis & InsightGraeme Smith: ‘Investment is waiting on the sidelines’
M&A activity in the sector is predicted to pick up once the vaccine rollout gives more clarity on recovery, AlixPartners’ Graeme Smith has forecast.
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NewsInsurance firms accused of ‘dragging heels’ despite Supreme Court ruling
Insurance firms have been accused of “dragging their heels” over coronavirus related company pay-outs following last month’s Supreme Court ruling.
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NewsFormer Just Eat CEO invests in Egypt’s fastest growing delivery company
Former Just Eat CEO David Buttress has made his largest personal business investment to date, in Egyptian food delivery company Elmenus.
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NewsJust Eat Takeaway.com places €1.1bn convertible bond offer
Just Eat Takeaway.com has successfully placed a two-tranche convertible bonds offer of €1.1bn.
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NewsChop’d acquired by Inc Retail
Food to go operator Chop’d has been acquired by London-based retail group Inc Retail, for an undisclosed sum, in a deal which includes all 13 of its sites.
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Analysis & InsightAnalysts’ verdict: Liberum on Marston’s
An offer for Marston’s could come in at above 100p per share, according to analysts Liberum, in a note issued following the news that Platinum Equity Advisors had received an unsolicited non-binding proposal from the American PE firm regarding a possible cash offer for its share capital.
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NewsMarston’s piques private equity interest
Marston’s has confirmed reports that Platinum Equity has made an initial approach to take the company private.
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NewsMcDonald’s UK sees uplift in like-for-like sales
McDonald’s UK has seen an uplift in like-for-like (lfl) sales, which were positive throughout Q4, reversing the trend seen in the previous quarter.
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NewsVarious Eateries obtains £2.5m BII payout
Various Eateries has received an interim payment of £2.5m under its Business Interruption Insurance (BII) policy and is in negotiations regarding additional claims.
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NewsFever-Tree grows global trade amid home decline
UK revenues at Fever-Tree declined by 22% to £103m in 2020, though this mostly was offset by growth in Europe and the US, leading to a more modest global decline of 3%, and total revenues of £252m.
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NewsDiageo pivots to UK retail
Diageo grew net sales by 2% in Britain, with growth in retail more than offsetting declines due to restrictions and closures of pubs and bars, in Q2 2020.