All Finance articles – Page 21
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NewsJDW: ‘If pubs shut, the levels of Government support won’t matter’
Wetherspoon plans to keep pubs open “even under extreme duress,” as chairman Tim Martin warned that should they shut, the levels of Government support for employees will be inconsequential to job losses.
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NewsLatest closures include TGI’s, Comptoir, Bills and The Ivy
TGI Friday’s, Comptoir Group, Bills and The Ivy Collection are among the latest operators to announce temporary closures amid the COVID-19 pandemic.
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NewsInterest rate cut to 0.1% amid turmoil for listed restaurant and pub groups
The Bank of England has cut interest rate to 0.1%, while announcing £200bn of quantitative easing.
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NewsYo!, Prezzo and Byron among latest casual dining closures
Yo!, Prezzo and Byron are some of the latest casual dining operators to temporarily close their doors.
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NewsYoung’s to introduce rent holiday for tenants
Young’s will continue to trade its pubs as “a place of sanctuary in these uncertain and worrying times”.
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NewsLoungers closures a potential scenario
Loungers has said the partial or complete temporary closure of all of its sites is a potential scenario.
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NewsCoronavirus closures continue
Brasserie Bar Co., JKS Restaurants, Darwin & Wallace, Smith and Wollensky and Cosmo are the latest restaurant and bar groups to close all of their sites in response to the coronavirus outbreak.
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NewsEgo – ‘lack of clarity has forced us to close’
Ego Restaurants will become the latest operator to close its sites this afternoon following a 60% drop in revenue over the past few days, CEO James Horler has told MCA.
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NewsM&B has headroom to suffer ‘significant loss’
Mitchells & Butlers has provided a trading update in light of the Covid-19 outbreak, with like-for-like sales 0.9% for the 24 weeks to 14 March.
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NewsMarston’s – ‘we will be able to maintain operations’
Marston’s has “sufficient liquidity to maintain operations at a materially reduced level of business,” it has said in a COVID-19 update released today.
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NewsTRG predicts 2020 sales decline of 25%
The Restaurant Group has predicted an overall decline in like-for-like sales of 25% in FY2020 as it has experienced an “increasing and material impact” of COVID-19 in recent weeks.
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NewsListed groups make heavy losses amid coronavirus bloodbath
Listed restaurant and pub suffered a day of carnage today as the coronavirus outbreak took its toll on operators’ share prices.
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NewsJDW more affected by weather than health scare
J D Wetherspoon has reported like for like sales up by 3.2% in the six weeks to 8 March 2020, saying it had been more adversely affected by poor weather than by the coronavirus health scare.
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NewsIntu warns of potential collapse as it reports £2bn loss
Intu Properties, the group behind nine of the UK’s top 20 shopping centres including the Trafford Centre in Manchester and Lakeside in Essex, has suggested it could collapse unless it raises extra funds.
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NewsIntu footfall flat as it explores further disposals
Intu has reported footfall was flat in its UK shopping centres in 2019, outperforming the wider retail market where footfall was down 2.5%.
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NewsOakman closes in on refinancing and investment target
Oakman Inns has secured close to £2m in new investment, while extending almost £8m of bonds which matured in December 2019.
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NewsRevolution claws its way back into growth
Negative like for like sales might not seem like an ideal trading position for the eponymous brand of Revolution Bar Group.
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NewsJKS counts cost of Gymkhana fire damage as it reopens
JKS Restaurants lost £1.52m in estimated damage and £2.43 in lost income as a result of the fire at Gymkhana.
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NewsTossed operator improved EBITDA ahead of Vital re-brand
Tossed has revealed a substantial improvement in its adjusted EBITDA to £300k in its report for the year ended 28 March 2019 released today.
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NewsInnventure sales up 14.5%
Seven-strong gastropub operator Innventure has reported a year on year sales uplift of 14.5% for the year ended 29 June 2019.