All Prezzo articles – Page 9
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NewsPrezzo appoints chief commercial officer
Prezzo has appointed Darrell Wade, formerly of TGI Fridays UK, as its new chief commercial officer.
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Analysis & Insight
Looking back to the future
How will the food and beverage sector change over five years’ time? It’s a question MCA’s Top of Mind survey has been putting to sector leaders for the past nine years. MCA’s Yemeng Hu looks at what the answers can tell us about the past, present and future.
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NewsPrezzo FY lfls fell 8%
The Company Voluntary Proposal proposal document put forward by Prezzo has laid bare the decline in trading the company experienced during 2017
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OpinionHold your Italian stallions
This weekend Carluccio’s became the latest business to come under the spotlight. The wider press is smelling more CVA blood and before we talk another sector business down that route, Mark Wingett asks whether we should hold our horses a minute on this one?
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Analysis & InsightRebalancing the landlord/tenant relationship
As pressures mount on operators, their relationships with landlords are becoming increasingly important. But, are both sides speaking the same language? David Abramson, chief executive of leisure property consultant Cedar Dean, discusses.
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NewsPrezzo “has bright future” beyond CVA
Prezzo chief executive Jon Hendry-Pickup has spoken exclusively to MCA about the launch of a Company Voluntary Arrangement (CVA) this morning.
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NewsPrezzo needed a pick up earlier
In what could be the biggest Company Voluntary Arrangement (CVA) the UK’s restaurant sector has experienced, Prezzo is set to shed nearly a third of its estate, including its Chimichanga brand, in a further high profile example of the issues currently impacting the industry. So how did it come to this for a business that sparked a bidding battle and sold for a price that analysts at the time said undervalued it, asks Mark Wingett
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OpinionCDG looks to spread the risk
Experience counts and judging from the latest trading update from the Casual Dining Group (CDG) it is helping the business combat the current nervousness spreading across the market. Its latest trading update paints a picture of a resilient business diversifying to spread the risks thrown up by a soft market and producing an impressive EBITDA performance when put up against the barrage of costs it has had to absorb. Mark Wingett looks at what else it has up its sleeve.
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NewsPrezzo awaits CVA sign-off
Investors in Prezzo, the c300-strong operator of its eponymous brand and Mexican chain Chimichanga, have yet to sign off on its plan for a Company Voluntary Arrangement, MCA understands.
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NewsPrezzo to launch CVA
Prezzo, the c300-strong operator of its eponymous brand and Mexican chain Chimichanga, is to enter a Company Voluntary Agreement (CVA).
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News
Analysts corner: Driven to drink
Analysts at Liberum have given their view of the current market and their top picks for the sector, highlighting the potential for premium wet-led venues.
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Analysis & InsightContemporary operators challenging top brands
Five Guys is leading the pack of contemporary operators challenging the established casual dining brands, the latest MCA data has shown.
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News
Prezzo and Barclaycard to trial new payment technology
Prezzo has teamed up with Barclaycard to trial new technology, which allows diners to simply walk out after eating their meal.
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News
Colliers call for business rates reform
Colliers International has called for reform of business rates as restaurant and casual dining brands struggle with the “onerous” regime.
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Analysis & InsightWhat backers want to hear
With high-profile cases of restructuring and site closures becoming more common across the eating-out sector, what does this mean for investment? Alex Dumphy, of law firm Addleshaw Goddard, examines what operators can do to ensure lenders remain on-side during turbulent times for the sector.
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News
Turquoise secures Prezzo sites
Turquoise Kitchen, the Turkish concept from the group behind The Real China, is to double its estate after securing a pair of Prezzo sites.
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News
Hunter departs Prezzo
Paul Hunter, operations director for the Chimichanga and MexiCo brands, has departed Prezzo, MCA understands.
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Analysis & InsightBrandwatch: Prezzo
Prezzo is the latest high-profile brand to show signs of strain in a challenging market. We look at MCA data to assess how it has been performing against the wider market
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NewsSpotlight falls on Prezzo’s trading
After the struggles faced by Jamie’s Italian and Byron, reports this morning suggest Prezzo could be the next casual dining chain to have to undergo a restructuring.
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News
Discounting predicted to remain at elevated levels
The level of discounting in the eating and drinking-out sector hit epic proportions last year and shows no sign of abating as we head into 2018, according to industry experts.