All The Restaurant Group (TRG) articles – Page 2
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News
Activist investors launch fresh attack on Wagamama owner
The salvo comes as The Restaurant Group’s finance chief steps down and its share price plunges by 20%, The Telegraph reports
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News
TRG announces changes to senior team
Mark Chambers, currently CEO of Leisure & Concessions, will be replaced by Jonathan Knight as he takes over the CFO role from Kirk Davis
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Analysis & Insight
Damage control: Righting the passage of TRG’s share price
Is The Restaurant Group’s new strategy a big enough catalyst to improve the position of its share price or is a more radical shake-up required? MCA reports
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News
Non-exec departure at The Restaurant Group
Alex Gersh will step down from his role as an independent non-executive director and chair of the audit committee in July
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News
FinnCap: Activist pressure on TRG likely to continue
Activist pressure will likely remain despite all resolutions passed with the requisite majorities at the AGM, albeit finnCap sees “considerable upside” for the group
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News
New activist calls for break-up of Wagamama owner as pressure builds
The Restaurant Group’s board also faces accusations of mismanagement, The Telegraph reports
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News
Tension builds ahead of TRG crunch meeting
Oasis expressed its “deep concern regarding the equal treatment of shareholders”, while Royal London Asset Management has backed the TRG management team
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Analysis & Insight
Brandwatch: Barburrito
Second in scale in the fast-casual Mexican market, MCA explores Barburrito’s journey, customer perceptions of the brand and whether the acquisition by TRG could give it a new lease of life
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News
Activist Coltrane seeks change at TRG
A New York-based investor has called for change at The Restaurant Group after taking a 3% stake, The Sunday Times reports
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News
TRG’s largest shareholder ‘remains supportive’
Columbia Threadneedle Investments, which owns a c16.7% stake in The Restaurant Group, issued a short statement in support of the company after criticism from activist investors
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News
Anger over Hornby’s pay mounts
The activist investor seeking an overhaul at The Restaurant Group has won the backing of an influential shareholder advisory group in protesting at chief executive Andy Hornby’s pay package, The Times reports
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Analysis & Insight
Analysts find ‘strong progress’ at TRG
There was a positive reception to The Restaurant Group’s latest trading figures, cost savings, accelerated disposals in Leisure and increased rollout of Wagamama
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Interviews
Andy Hornby: We let our trading do the talking
The Restaurant Group CEO shrugged off shareholder interventions and pointed to encouraging trading momentum across its four divisions, including its beleaguered Leisure division
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News
Restaurant Group reports ‘encouraging trading’
Like-for-like sales at Wagamama were up 2% for the 13 weeks to 2 April 2023 but down 4% with its Leisure division, with the group to accelerate its previously announced rationalisation programme
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News
Oasis: TRG management ‘not aligned with shareholders’
The activist hedge fund has urged fellow shareholders to reject “pay without performance” at The Restaurant Group
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Interviews
Hornby: ‘Well-run operators have a good future in this country’
In an interview with The Telegraph, TRG CEO Andy Hornby said mid-market restaurants won’t disappear from high streets but will never be as ubiquitous as they once were
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Interviews
Andy Hornby: ‘Pressure from Oasis has no bearing on TRG’s strategic plan’
CEO Andy Hornby tells MCA the strategic plans announced yesterday were “entirely grown from within” and not in response to shareholder disquiet
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News
TRG to offload 35 sites from Leisure division
The Restaurant Group reported a statutory loss before tax of £86.8m, as its leisure division was hit by cost-of-living and inflationary pressures
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News
Oasis threatens to push for removal of TRG boss
The activist investor has called for the Wagamama owner to reduce debt, reduce interest, and resume dividends as it is rumoured to be weighing up a potential sale of its pubs business
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News
TRG expected to put forward ‘cogent strategic plan’
Analyst Singer has said that while it expects the plan to address the rebuilding of shareholder value and profitability, it does not anticipate radical action