All The Restaurant Group (TRG) articles – Page 4
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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
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NewsTRG 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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NewsOasis 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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NewsTRG 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
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NewsRumours circulate about TRG pub sale
There is speculation that The Restaurant Group could be weighing up a potential sale of its pubs business Brunning & Price following pressure by activist investor Oasis
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NewsHedge fund calls on TRG to restore market confidence
The Restaurant Group said it welcomed constructive feedback from all shareholders but disputes claims about performance and the level of Oasis Management Company’s shareholding in the business
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NewsHedge fund Oasis takes 5% stake in The Restaurant Group
Hong Kong-based fund could shake up owner of Wagamama and Frankie & Benny’s chains, the FT reports
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NewsTRG announces £340m debt package
The Restaurant Group has agreed a £220m Term Loan Facility and a £120m Revolving Credit Facility with its existing lenders
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NewsNon-exec steps down from The Restaurant Group
Alison Digges will step down from the board, and as a member of TRG’s audit, nomination and remuneration committees, in January.