All articles by Georgi Gyton – Page 132
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NewsTRG revenues down more than 50 percent
The Restaurant Group (TRG) has seen total revenues down 57% to £459.8m, for the 52 weeks ended 27 December 2020.
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NewsAngus Steakhouse on brink of collapse
Angus Steakhouse has hired KMPG to secure a rescue deal for the restaurant chain, which is on the verge of going into administration, The Telegraph has reported.
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InterviewsScott Matthews: ‘Business in London is going to be slower to come back’
CG Restaurants is anticipating that it will take much longer for sales at its London sites to bounce back compared with its regional locations.
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NewsAdam Handling promotes ops director
Adam Handling Restaurant Group has promoted its operations director Nicola Gartenberg to executive director as it gears up for expansion. The role will also see her appointed to the board.
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NewsRockfish: Summer could be ‘best ever’
Rockfish is gearing up for a second summer of staycations as it secures its latest restaurant in Devon town Salcombe.
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NewsHospitality businesses accuse government of failing to “add up”
Hospitality and leisure businesses have accused the government of being “unable to add up”, following the decision to put a £2m cap on the business rates discount announced in the Budget, according to The Times.
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NewsIsland Poke secures investment from Hero Brands
Island Poke has secured a cash injection from hospitality investor Hero Brands in order to help accelerate its expansion plans, the Press Association has reported.
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NewsDomino’s to dispose of Swedish business
Domino’s is to dispose of its Swedish business in order to focus on its operations in the UK and Ireland, following the exit from Domino’s Norway last year.
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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.