All The Restaurant Group (TRG) articles – Page 3
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NewsActivist investor weighs bid for TRG divisions
Activist investor TMR Capital is reported to be weighing a bid for The Restaurant Group’s Brunning & Price and Leisure divisions
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Analysis & Insight
Pressures to grow shareholder returns remains for TRG
The pressure to make large disposals also remains, with shareholder Irenic saying improved trading ’highlights the gap between the company’s intrinsic value and its significantly lower share price’
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NewsTRG reports strong trading in year to date
The Restaurant Group has said it is reviewing its strategic options while accelerating the expansion of Wagamama, and reported progress on the rationalisation plan for its leisure estate
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NewsActivist 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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NewsTRG 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 & InsightDamage 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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NewsNon-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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NewsFinnCap: 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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NewsNew 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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NewsTension 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 & InsightBrandwatch: 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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NewsActivist 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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NewsTRG’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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NewsAnger 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 & InsightAnalysts 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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InterviewsAndy 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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NewsRestaurant 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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NewsOasis: 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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InterviewsHornby: ‘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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InterviewsAndy 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