All articles by Georgi Gyton – Page 116
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NewsDeliveroo confirms float intentions
Deliveroo has confirmed it is “considering an initial public offering” and intends to publish a registration document today (8 March).
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NewsDeliveroo to launch £50m community fund
Deliveroo is offer a £50m funding pot for restaurants, riders and community groups following the launch of its IPO on the London Stock Exchange on Monday (8 March), Sky News has reported.
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Analysis & InsightHargreaves Lansdown on Deliveroo’s IPO
With its unicorn status, Deliveroo’s IPO is likely to be “the biggest coup in terms of size” for the London Stock Exchange so far this year, believes Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown.
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NewsAntic London secures seven-figure CBILS package
Pub operator Antic London has secured a seven-figure CBILS funding package through alternative SME lender ThinCats.
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NewsJDW gearing up for pub reopening but with reduced hours
JD Wetherspoon (JDW) has earmarked 394 of its pubs for reopening on 12 April, but they are due to operate under reduced hours.
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InterviewsKris Gumbrell: ‘Our spend per head increased by £9’
Brewhouse & Kitchen saw spend per head increase by £9, on average, following the introduction of its mobile order and pay app.
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NewsYO! appoints new group CFO
Global Japanese and Asian food group YO! has appointed Xenia Walters as its new chief financial officer (CFO). In addition she will join the board as an executive director, with both roles effective from 8 March.
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InterviewsKris Gumbrell: ‘People will churn the bottom of their estates for cash’
“I don’t foresee good quality managed houses becoming available any time in the near future,” Kris Gumbrell, chief executive, Brewhouse & Kitchen told listeners to MCA’s The Conversation.
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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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NewsRestaurant market predicted to grow by a third in 2021
The value of the UK restaurant sector is expected to grow by 32.1%, to reach £11.7bn, in 2021, on the back of market contraction of 53.1% last year, according to a new report from Lumina Intelligence.
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NewsTalks held over rates relief and alcohol duty freeze
The treasury has held talks on support measures for the hospitality sector in the form an extension of the business rates holiday and a freeze on all alcohol duties, The Telegraph has reported.
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NewsLicensed premises closing at rate of 30 per day
Almost 12,000 licensed premises have closed in Britain since December 2019, according to the latest CGA and AlixPartners Market Recovery Monitor.
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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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NewsElectra in talks over Fridays franchise
Electra Private Equity is in negotiations with the American owner of Fridays about a new franchise agreement, according to The Times.
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NewsYO! appoints new chairman
Global Japanese and Asian food group YO! has appointed John Walden as its new chairman, with Eric Nicoli to step down.
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NewsFuller’s FD to step down
Fuller’s finance director Adam Councell has informed the board of his intention to step down from his role at the pub and hotel business.
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NewsHospitality had highest take-up of furlough scheme in January
The hospitality sector had the highest take-up of the furlough scheme, of all sectors, between the end of December and end of January, according to the latest government data.
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Analysis & InsightTwo-thirds say April opening not viable
Almost two-thirds (63%) of those surveyed said that it was not viable for them to reopen in April when outside trading is permitted, according to the latest Hospitality Leader’s Poll from Lumina Intelligence.
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NewsConservative MPs call for cut in beer duty
A group of 68 Conservative MPs have signed a letter calling for the Chancellor Rishi Sunak to cut beer duty in his upcoming Budget announcement on 3 March.