All Finance articles – Page 19
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NewsChilango sold out of administration
Chilango has been sold out of administration, securing 10 of its 11 restaurants.The burrito brand announced today that administrators RSM had secured a sale of the group to investment firm RD Capital Partners in a deal that will save 130 jobs.Last month, Chilango filed a notice of intention to appoint administrators as a result of pressures caused by the coronavirus lockdown, having already gone through a company voluntary arrangement (CVA) at the end of 2019.
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NewsGreene King posts £273m losses
Greene King’s revenues were down 13.4% to £1.9bn in the full year to 26 April 2020 with its pub business worst hit by the coronavirus.
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NewsCMA launches Marston’s/Carlsberg probe
The Competition and Markets Authority has launched a formal inquiry into the £780m merger of Marston’s and Carlsberg’s brewing operations.
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NewsPizza Express confirms permanent closure of 73 sites
Pizza Express has confirmed it will close 73 of its UK restaurants – almost a fifth of its estate – as part of its CVA process.
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NewsAlix Partners: Sensible debt is good financial management
Private equity debt financing will return to the casual dining sector as it begins to recover, Alix Partners MD Graeme Smith has predicted.
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Analysis & Insight'Significant return to offices' needed to support operators
As two thirds of UK workers are yet to return to their offices, consumer and location intelligence specialise CACI has highlighted the devastating economic impact working from home is set to have on F+B and retail operators in London specifically.
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NewsCoffeesmiths entity leaves liabilities of £20m
Department of Coffee and Social Affairs operator CCL 02 Limited has unsecured creditors totalling more than £1.6m after going into liquidation, a statement of affairs by liquidator Quantuma has revealed.
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NewsAlixPartners MD Graeme Smith: Local lockdowns a ‘big worry’ for sector investors
One of the biggest concerns for investors looking to support the sector is the risk of continued local lockdowns, and the impact they could have on business recovery, AlixPartners MD Graeme Smith has said.
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NewsDomino’s hails ‘resilient’ lockdown performance
Domino’s UK & Ireland has reported UK like-for-like sales up 4.8% for the half year to 28 June 2020.
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NewsMcDonald’s sues former CEO over alleged sexual relationships with employees
McDonald’s has sued its former chief executive Steve Easterbook amid allegations that he fraudulently hid details of three “physical sexual relationships” with employees when he was fired last November, the Financial Times reports.
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NewsItsu hopes to cut rents on 53 sites in CVA
Itsu plans to close two and cut rents on 53 of its sites by means of a company voluntary arrangement.
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NewsPizza Hut Restaurants to consider restructure
Pizza Hut Restaurants has hired advisers to explore a financial restructure, with a company voluntary arrangement (CVA) under consideration.
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NewsTortilla CEO Richard Morris: VAT cut will help us through tough times ahead
The government’s 15% VAT reduction will be a useful boost for hospitality businesses faced with what’s set to be an incredibly challenging winter season, MCA’s The Conversation has heard.
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NewsStonegate sells £1.2bn in bonds
Stonegate Pub Company sold £1.2bn of bonds on Friday to finance its takeover of Ei Group.
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NewsMarston’s/Carlsberg JV delayed
Completion of the merger of Marston’s brewing company and Carlsberg UK will be delayed pending a review by the Competition and Markets Authority (CMA).
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NewsChilango gives notice of intent to appoint administrators
Burrito chain Chilango has given notice of its intention to appoint administrators, in a further blow to bond-holders.
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NewsVapiano UK bought by Savour-backed team
Vapiano’s UK restaurants have been bought by a group of investors led by former Vapiano director Mario Bauer in partnership with the Savour Group in a deal that safeguards 209 jobs.
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NewsAzzurri in advanced talks over pre-pack sale
Azzurri Group could be on the verge of a pre-pack administration which would involve the closure of 20-25 restaurants, The Times reports.
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NewsPizza Express to exit up to 75 sites in CVA
Pizza Express is expected to close up to 75 restaurants as part of a financial restructuring at parent company Hony Capital.
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NewsShelley Sandzer and Gerald Edelman launch corporate finance firm
Shelley Sandzer, the specialist leisure property agency, and Gerald Edelman, a mid-market advisory firms, are launching a new business, Shelley Sandzer Corporate Finance (SSCF).