All articles by Georgi Gyton – Page 83
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NewsTim Martin: ‘Predictions for profits are hazardous’
JD Wetherspoon’s chairman Tim Martin has hit out at the government’s “radical changes of direction”, stating the implications of further restrictions could lead to a loss-making first half.
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NewsOakman Group: ‘We’ve had plenty of interest in share scheme’
The group is looking to raise £5m from its first public share offering, executive chairman Peter Borg-Neal has told MCA.
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NewsBill’s confirms closures as losses widen
The Richard Caring-backed group closed 14 loss-making restaurants during the last financial year as cost pressures forced it to revaluate their performance.
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NewsOakman to launch public share offering
The Oakman Group is to launch its first FCA regulated fund raise with its first full public share offering to open on Friday 17 December.
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NewsOakman achieves +16% rise in like-for-likes
Chief executive Dermot King said he did not expect Oakman to be negatively impacted by the recently introduced Plan B restrictions and has forecast year-end sales in excess of £64m.
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Analysis & InsightPlan B: ‘Restrictions put industry in a precarious position’
The reintroduction of the work from home rule will have a significant impact on pubs, restaurants and food to go outlets based in the capital or city centres, sector leaders have told MCA
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NewsNovember sales growth below inflation estimates
Total sales across managed pubs and restaurants declined to 2% in November, according to the latest Coffer CGA Business Tracker
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NewsMcDonald’s opens first carbon zero restaurant
The restaurant in Market Drayton features kerb stones constructed from plastic bottles and art work made from used coffee beans and will act as a blueprint for future restaurants across the country.
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NewsKFC saw small decline in like-for-like sales last year
The fast food chain’s like-for-like sales in the UK declined by 1.6% for the full year to 27 December 2020 on the back of strong trading in the second quarter.
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NewsSSP reports revenue decline of +40%
The group said trading levels had improved over the summer and autumn, with revenue averaging 66% of 2019 levels in the first nine weeks of the new financial year.
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NewsHostmore to increase rate of expansion
In its first update since listing on the London Stock Exchange, the operator of Fridays and 63rd+1st said it had lined up five further sites across the two brands, as EBITDA exceeds 2019 levels.
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InterviewsRed Engine: ‘It is like Christmas every day’
The business’ Flight Club and Electric Shuffle venues have experienced “a level of excitement like we have never seen before”, since reopening after lockdown, CEO Steve Moore has told MCA.
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NewsBoparan goes carbon neutral
Boparan Restaurant Group (BRG) has announced that all of its brands are now certified as carbon neutral after offsetting all of its direct emissions.
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InterviewsFulham Shore: ‘20% pay rise made a massive difference’
The business, which operates Franco Manca and The Real Greek restaurants, had “a big issue” with recruitment over the summer months, but an uplift in pay has seen the problem largely disappear, chairman David Page told MCA.
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InterviewsSticks ‘n’ Sushi: ‘Our focus is on bricks and mortar’
The Danish restaurant group is currently looking to add a handful of additional restaurants to its UK estate, CEO Andreas Karlsson told MCA.
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NewsRedCat appoints former Honest Burgers FD to finance role
Rooney Anand’s pub investment vehicle RedCat Pub Company has appointed Dave Foulis as corporate finance director.
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NewsThe Real Greek heads north
Fulham Shore is to open its first The Real Greek restaurant in the north of England, in Manchester later this month.
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NewsShu sells Deliveroo shares to foot tax bill
Deliveroo’s co-founder and chief executive Will Shu has sold £47m of shares in the delivery company in order to meet his tax liabilities.
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NewsFlight Club: ‘We have bounced back very strongly’
Flight Club Darts has seen “a significant and sustained” increase in trading since 19 July and has a strong pipeline of sites for 2022.
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NewsEG Group delivers uplift in foodservice profit
The Issa brothers-led business, which acquired Leon in April this year, said that its foodservice operations showed “significant strength”, with gross profit up 36% on a like-for-like basis