All news articles – Page 463
-
NewsMOD Pizza UK reports £6.9m losses in 2018
MOD Pizza UK has reported losses of £6.9m in 2018 – following losses of £11m the previous year.
-
NewsBurger & Lobster ‘pleased’ despite ‘challenging environment’
Burger & Lobster has revealed a 10% drop in sales from £42.2m to £37.9m in 2018, due primarily to the sale of its Manchester site. Overall EBITDA was £5.7m, down from £6.2m in 2017, which the business said was due to a “challenging operational environment in London for casual dining”. However it said gross profit margin was up from 61% to 65% which the business said was the result of “better labour and food and beverage cost” controls.
-
NewsYapster raises £2.6m
Yapster, a communications platform for hospitality workers, has raised just over £2.6m as the company looks to deliver on its ambitious growth plans for 2020 and beyond.
-
NewsThai Leisure Group CVA is approved
Thai Leisure Group has had its proposed Company Voluntary Arrangement approved by its creditors.
-
NewsKFC profits plunge after chicken crisis
KFC UK saw its turnover and profits plunge following its distribution crisis last year, but did not swing to a loss over all.
-
NewsEi hits back at publican tax charge
Ei Group CEO Simon Townsend has denied the pub company unduly influenced the way the industry is taxed.
-
NewsPizzaExpress hires advisers for debt talks
PizzaExpress has hired financial adviser Houlihan Lokey to prepare for debt talks with its creditors amid continued tough trading conditions, Bloomberg reports.
-
NewsWhitbread appoints new non-executive director
Whitbread has appointed Horst Baier as a non-executive director, with effect from 1 November 2019.
-
NewsBorough Market to launch communal dining space
Borough Market is launching a communal dining space, The Borough Market Kitchen, in Jubilee Place.
-
NewsBeer tops table as most consumed alcoholic drink
Beer is the most popular alcoholic drink, by volume sold, according to the latest research from the British Beer & Pub Association (BBPA).
-
NewsBrewdog bars lose £235k amid expansion drive
Brewdog’s bar division made a pre-tax loss of £235,000 in 2018 - up from £45,00 in 2017.
-
NewsAdministrators appointed at Bumpkin and Eclipse operator Ignite
Ignite, the premium West End operator which was once a favourite of Prince William and Prince Harry, has been taken into administration, MCA understands.
-
NewsStonegate reveals sports fan plan to entice 87% who prefer to stay at home
Stonegate Pub Company has revealed an action plan to encourage sports fans into its venues, after research revealed 87% of consumers preferred to stay within the comfort of their own home to watch sport.
-
NewsLow 2 No Bev event launched
A new trade show designed to support the growth of the low and no beverage sector has been launched by William Reed, publisher of MCA.
-
NewsGail’s looking to double estate in three years
Gail’s, the Luke Johnson-backed bakery chain, is looking to double the size of its business to around 100 sites over the next three years.
-
NewsSeafood Pub Company sees losses increase
Seafood Pub Company has reported a group loss after tax of £2.73m for the full-year to 31 December 2018, compared to a loss of £1.15m the previous year, after higher administrative expenses and cost of sales impacted profits.
-
NewsPizza Hut: ‘A lot of people have tried to imitate us, but I think we do it best’
As a subsidiary of the five billion-dollar corporate behemoth Yum! Brands, misty-eyed sentimentality might not be an emotion readily associated with a Pizza Hut refurbishment.
-
NewsPrezzo made £29.7m loss in 2018 after CVA
Prezzo made an operating loss of £29.7m in 2018 following the CVA that saw it close nearly 100 restaurants.
-
NewsHas the chancellor got the balance right with the NLW?
There was bad news for hospitality at the Conservative party conference this week. The industry is under pressure from many angles, but on Tuesday chancellor Sajid Javid announced plans to take one of the more acute pressure points, the National Living Wage, and increase it from its current rate of £8.21 to £10.50 inside five years. That’s a potential 28% hike by 2024, or an average 5.6% hit on the bottom line every year.
-
NewsSales soar at Deliveroo but profits fall again
Deliveroo’s profits have taken another hit following another year of heavy investment and expansion. After revealing pre-tax losses of £199m in 2017, the online delivery outfit said pre-tax losses had fallen further to £232m for the year to 31 December 2018. The business said it had “continued to invest heavily” in its service in order to fund further expansion in terms of restaurant numbers in existing markets, including the UK where it plans to launch in another 50 towns and cities in 2019.