All news articles – Page 355
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NewsDeltic files for administration
Nightclub operator Deltic has filed a notice to appoint administrators. The group, which owns late-night brands including Pryzm and Bar and Beyond, announced its intention to sell in October, but has been as yet unable to secure a buyer. Over the last few weeks, private equity firms Greybull Capital and Aurelius emerged as interested parties in the group, but Scandinavia bar operator Rekom Group has since come to the fore as the preferred bidder to buy Deltic through a pre-pack administration. It’s understood that any deal could see the permanent closure of some of its 52 sites.
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NewsHospitality restrictions take toll on GDP growth
Hospitality restrictions have contributed significantly to the dip in the UK’s economic growth and will likely continue to do so unless measures are rethought, UK Hospitality has warned. New figures from the Office for National Statistics show that GDP grew by just 0.4% in October, down from 1.1% in September and the weakest its been since the economy started its recovery from the pandemic-induced recession earlier this year. The services sector – which represents four-fifths of economic output – grew by just 0.2% as a result of increased restrictions, declining by 0.37% month-on-month.
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NewsBusaba CFO departs
Busaba chief financial officer Marc Whitehead is stepping down from the Thai restaurant brand after three years. Whitehead helped Busaba through a sales process and earlier this year and a CVA. He is currently working to hand over to Michael Linden, formerly of Pizza Express, who joined the business this ...
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NewsSessions launches start-up accelerator
Food hall business Sessions Market has launched a new accelerator platform aimed at reinvigorating the hospitality sector in the wake of the coronavirus crisis.
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NewsDoorDash valued at $60bn after IPO
DoorDash, the US food delivery platform, reached a market value of $60bn in its public trading debut, after a strong performance during the pandemic. Shares in DoorDash closed at $189.51 on Wednesday, 86% above the price of their initial public offering. Tony Xu, CEO of DoorDash, whose stake is now ...
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NewsMarston’s reports statutory loss of £397m
Marston’s made a total loss of £397.1m in 2020 following the closure of its pub estate for 15 weeks.
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NewsParliamentary group formed to support late-night businesses
A group of cross-party MPs and peers have formed an All-Party Parliamentary Group (APPG) for the night-time economy.
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NewsRamsay rolls out ‘street’ restaurant concepts
Gordon Ramsay has announced plans to expand his ‘street concept’ restaurant portfolio across London, with three openings set before the end of the year.
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NewsJust Eat to create 1,000 jobs through new agency worker model
Just Eat has launched a new agency worker model for couriers, which will switch contracts to hourly pay and could create more than 1,000 jobs by March, the company has said.
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NewsEviction moratorium extended
The eviction moratorium on commercial property tenants has been extended until the end of March 2021.
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NewsWasabi founder brings udon chain to London
Kineya Mugimaru, the Japanese noodle restaurant chain that has 500 sites across Japan, Hong Kong and the US, is making its European debut in London this month.
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NewsDeliveroo ‘now profitable at operating level’
The coronavirus pandemic has accelerated consumer adoption of food delivery services by two to three years, Deliveroo CEO Will Shu has said.
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NewsCafé de Nata opening in Camden
Café de Nata has strengthened its presence in London, as it seeks to become the go-to brand in the UK for Portuguese custard tarts.
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NewsNew hospitality restrictions hit footfall in Wales
New rules restricting the sale of alcohol in Welsh hospitality businesses has had an immediate and significant impact on footfall, according to the latest data from Wireless Social.
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NewsStonegate offers 90% rent credit for tier 3 tenants
Stonegate Pub Company has announced additional support for businesses in its leased and tenanted division, Ei Publican Partnerships, in response to the government’s tier system.
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NewsScottish tiering shift “bitter sweet” for hospitality
Nicola Sturgeon’s latest tiering review has been described as “bitter sweet”, and “not […] enough to help an industry in crisis,” with thousands of Scottish businesses still unable to open for the Christmas period.
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NewsHunter swaps Kerb for Tipjar
Kerb head of development Ollie Hunter has joined Tipjar as head of operations.
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NewsIncipio strengthens board
Incipio Group has appointed corporate lawyer David Roberts as a non-executive director.
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NewsCooplands secures £7.7m BGF funding to fuel expansion
South Yorkshire-based bakery chain Cooplands is set for growth after receiving £7.7m in funding from the Business Growth Fund (BGF).
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NewsVaccine card could ‘unlock lives and economy,’ says minister
People who have received the coronavirus vaccine will be given a card to “unlock” their lives and the economy, foreign office minister James Cleverly has said.