All Finance articles – Page 15
-
NewsLoungers holds profit despite lockdowns
Loungers saw its turnover fall 33% to £53.5m in the 24 weeks to 4 October, but still managed to turn a profit despite a raft of restrictions.
-
NewsLeon circulates restructuring plan
Leon has served creditors with a restructuring plan that includes a multimillion pound investment from shareholders to secure its future.
-
NewsCaffè Nero rejects ‘disruptive’ EG Group bid
Caffè Nero will press ahead with its company voluntary arrangement after rejecting a last-minute takeover bid from petrol forecourt and fast food operator EG Group.
-
NewsNew rescue package for hospitality sector
Pubs and restaurants hit by new coronavirus restrictions will be given extra cash to help get them through Christmas, the Telegraph reports.
-
NewsIndividual Restaurants acquired in £40m rescue deal
Individual Restaurants, including the Piccolino, Restaurant Bar & Grill, Opera Grill and Bank brands, has been acquired by the directors of Iceland supermarket, in a transaction worth more than £40m.
-
NewsBusinesses claimed £849m through EOHO
Businesses claimed £849m through the chancellor’s Eat Out to Help Out scheme, discounting more than 160 million meals, according to new figures from HMRC. New figures have revealed that almost 50,000 hospitality operators made a claim through the scheme by 30 September, which offered government subsidies of up to £10 on meals Monday to Wednesday in August. About a third (34%) of discounted meals were claimed by businesses with more than 25 outlets, accounting for more than a quarter (27%) of the total amount claimed. The majority of claims were made by restaurants (55%), with pubs claiming 28% of meals.
-
NewsLeon considers CVA
Healthy fast-food concept Leon has become the latest chain to consider a company voluntary arrangement (CVA) in a bid to cut its rent bill. The business appointed consultancy firm Quantuma in June to advise it on seeking new rent terms, but is now said to be drawing up CVA proposals as a result of pressures caused by the second national lockdown. According to Sky News, plans are at an early stage and the implications for store closures and jobs are yet to be disclosed.
-
NewsFive Guys to push on with expansion following strong lockdown trading
Five Guys will push on with its expansion plans despite the uncertainty of the coronavirus pandemic, with at least three new openings set before the end of the year.
-
NewsWahaca acquired by Nando’s owner
Wahaca has been acquired in a rescue deal by the billionaire owner of Nando’s.
-
NewsDeltic asks for £1m-a-month government support to see it through sales process
The Deltic Group has asked government for a £1m-a-month bailout as it continues its sales process, the Mail on Sunday reports.
-
NewsBrewdog secures £25m CBILs and financing arrangement to tackle crisis
Brewdog has said it is optimistic about the remainder of 2020 in light of financial measures taken to protect the business going forward.
-
NewsDeliveroo appoints Worldpay’s Medlock ahead of IPO
Deliveroo has lined up former Worldpay CFO Rick Medlock to chair its audit committee as it prepares to list, Sky News reports.
-
NewsRevolution Bars approves CVA, closing six sites
Revolution Bars Group has approved its company voluntary arrangement (CVA), which will see it close six bars.
-
NewsCaffe Nero enters CVA
Caffe Nero entered announced it had entered into a Company Voluntary Arrangement (CVA) last night, blaming the second national lockdown.
-
NewsMarston’s seeks waivers from noteholders
Marston’s has released a formal request to the holders of its secured class A notes for a limited number of further technical waivers during the first half of 2021. In an announcement on the London Stock Exchange today (11 November), the pubco said it was requesting the waivers as a precautionary measure following the renewed lockdown restrictions introduced in Wales on 23 October and England last week.
-
NewsWetherspoons sales hit by 'baffling' and 'questionable' restrictions
Wetherspoons sales were significantly lower in October than previous months as the imposition of new restrictions took its toll, the business has revealed in a trading update today.
-
NewsPiper sells Mindful Chef to Nestle
Piper, the backer of Flat Iron, Turtle Bay and Hickory’s, has exited its investment in recipe box and ready meal company Mindful Chef to Nestlé.
-
NewsVegan pizza chain Purezza set to go global
Brighton-based vegan pizza concept Purezza has announced global expansion plans after securing £2.4m in funding.
-
NewsDeltic sale piques private equity interest
Private equity firms Greybull Capital and Aurelius are among interested parties in the Deltic Group, following its emergency sale announcement last month.
-
Analysis & InsightFurlough extension a “wasted investment” without additional support
Hospitality leaders and trade bodies have welcomed the chancellor’s furlough extension until March, but warned that without a clear roadmap and additional support it won’t be enough.