All news articles – Page 353
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NewsCreams acquired by Pistachio Holdings
Dessert parlour brand Creams has been acquired by Pistachio Holdings, controlled by Ankush Shah of the East Africa-based Sumaria Group.
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NewsLeon CVA approved
Leon has approved a plan to restructure the business through a company voluntary arrangement (CVA), preserving 670 jobs.
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NewsPubs to take £2.6bn sales hit in December
The pub and bar sector could face food and drink sales losses of at least £2.6bn this month, according to new data from OrderPay.
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NewsPeter Martin: Look back in anguish
This is usually the time of year for quiet reflection, but does anyone really want to look back on 2020? Nobody needs reminding what a horrendous 12 months it has been - and continues to be.
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NewsTRG warning over ‘extremely challenging’ outlook under tiers
The Restaurant Group has warned the tiering system will have a “significantly adverse impact” on the group if it remains in place.
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NewsFulham Shore: ‘Historic’ return on capital once normal trading resumes
Fulham Shore will be able to target a “much higher return on capital” when normal trading resumes, due to the ongoing damage to the property and restaurant sectors.
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NewsFurlough extension cautiously welcomed
The one-month extension of furlough has been tentatively welcomed, tempered with a warning that more support will be needed to save jobs and businesses.
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NewsDeltic acquired by Rekom, 10 sites to close
Deltic has been bought of administration by Rekom Group, the Nordic nightlife operator.
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NewsMajority of tier 3 remain the same, tightest restrictions in South East
Tier 3 measures will be implemented across a “much wider area” in the East and South East England this week, Health Secretary Matt Hancock has announced. Speaking in the House of Commons following the government’s first formal tier review, he said that Bedfordshire, Buckinghamshire, Berkshire, Peterborough, and the whole of Hertfordshire will be subject to the tighter restrictions from Saturday morning (19 December). Surrey – with the exception of Waverly – as well as Hastings, Rother, Portsmouth, Gosport and Havant will also enter tier 3. Though the “vast majority” of areas already in the highest tier will stay there, Bristol and North Somerset will move down to tier 2 on Saturday, and Herefordshire will move from tier 2 to tier 1.
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NewsTim Martin: Government relying on ‘false information, rather than truth’
Wetherspoons chairman Tim Martin has accused the government of relying on “false information, rather than truth,” leading to “inevitably poor outcomes.” In an update on the London Stock Exchange, Martin said that over 50 million pub visits had been registered at Wetherspoons sites using the track and trace system, and there have been no outbreaks reported in the company, highlighting the “faulty” nature of government sources of information.
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NewsSSP optimistic for “slow and steady” recovery
Travel hub operator SSP Group has said it remains optimistic in its ability to adapt to and capitalise on the return of the travel market next year despite incurring huge losses in 2020.
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NewsRevolution secures further liquidity as restrictions hit sales
Revolution Bars has reported sales significantly down in the first 24 weeks of FY21 as a result of “severe and constantly evolving trading restrictions.”
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NewsTrafford centre taken over by lenders as Intu fails to find buyer
Manchester’s the Trafford Centre has been taken over by Canada Pension Plan Investment Board (CPPIB), the country’s biggest pension fund, after previous owner Intu failed to find a buyer.
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NewsPaul looks to franchise model for UK expansion
Paul UK has announced it is looking to create a franchise model to enable it to expand across the country. The 38-strong bakery chain is appealing for potential franchise partners, promising to provide a national supply chain, economies of scale, a flexible retail format to fit any location, as well as marketing, training and help with recruitment. Partners will be offered a choice between Paul’s Café, Express and Kiosk restaurant models, of which sites would be around 1,500 sq ft+, 500 to 800 sq ft+, and 500 sq ft respectively.
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NewsWelsh hospitality to close at 6pm on Christmas day
Hospitality businesses in Wales will have to close at 6pm on Christmas Day, with the country going into lockdown four days later, First Minister Mark Drakeford has announced.
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NewsSales up at Wagamama
Wagamama has reported strong results for both eat in and delivery in Q3, seeing an uplift in sales and EBITDA.
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NewsDeadline for Retailer’s Retailer of the Year Awards nominations
MCA’s prestigious Retailer’s Retailer awards will be back in 2021, with the deadline for nominations midday today.
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NewsTasty achieves rent reductions and concessions on more than half of estate
Wildwood operator Tasty has achieved rent reductions and lease concessions on more than half of its estate, two months after it announced it was exploring a potential company voluntary arrangement (CVA).
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NewsLondon sees highest footfall in tier 2 areas on last weekend before tier 3
London had the highest footfall of all English tier 2 cities last weekend, but is expected to drop significantly as it enters tier 3 today, according to Wireless Social.