All Finance articles – Page 26
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NewsPrezzo made £29.7m loss in 2018 after CVA
Prezzo made an operating loss of £29.7m in 2018 following the CVA that saw it close nearly 100 restaurants.
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NewsErpingham House hits 50% of £250k crowdfund
Erpingham House, the UK’s biggest vegan restaurant, has secured 50% of its crowdfunding target ahead of its public launch later this week.
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NewsJamie’s profits plunge following restaurant collapse
Jamie Oliver has revealed the scale of the impact the collapse of his restaurant group had on his overall business interests. Pre-tax profits at his businesses, made up of Jamie Oliver Holdings, Jamie Oliver Licensing and Jamie’s Italian International, almost halved by 46%, from £14.4m to £7.8m. The business said its profits were “impacted by exceptional costs of £9.9m in the year related to the restaurant group.”
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NewsSSP forecasts 1.8% lfls growth in Q4 2019
SSP Group expects like-for-like sales growth of approximately 1.8% in the fourth quarter of 2019, according to a pre close trading update.
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NewsAbokado: ‘small handful’ of underperforming sites could close
Abokado CEO Mark Lilley has told MCA there are a small handful of underperforming shops in the estate which could be closed over the coming months.
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NewsTime Out to resubmit Spitalfields market bid in Q4
Time Out will resubmit its planning application for a market in Spitalfields in Q4 2019, with a potential opening anytime from late 2020.
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NewsStrong drink sales drive M&B’s 3.3% lfls growth
Mitchells & Butlers (M&B) has continued to outperform the market in the eight weeks to 21 September, with like-for-like sales growing by 3.3%.
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NewsAll Our Bars reports 3% lfls growth
All Our Bars, the South East-based pub and bar group, has reported a 3% increase in like-for-like revenues for the full year to July 2019.
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OpinionBerenberg on City Pub Group
City Pub Group’s (CPG) H1 results showed “impressive top-line momentum”, said analysts at Berenberg, after the pub operator reported sales were up 36% year-on-year.
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NewsBenito’s Hat undergoes CVA
Benito’s Hat operator Pico’s Ltd has entered into a Company Voluntary Arrangement (CVA) after suffering cashflow problems.
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OpinionJP Morgan on JD Wetherspoon
JD Wetherspoon’s (JDW) profit outlook does not justify its current multiple, according to the latest analysts note on the operator from JP Morgan.
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NewsBird was “starved of cash” in lead up to administration
Fried chicken and waffle concept Bird was “starved of cash” according to administrators’ proposals from BM Advisory filed at Companies House this week.
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NewsShareholders approve Ei/Stonegate deal
Shareholders of Ei Group have voted in favour of the pubco’s takeover by Stonegate by 96.57%.
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NewsHonest Burgers turnover grows but losses widen as it invests for expansion
Honest Burgers has reported turnover up 38% to £30.7m in the full year ending 27 January 2019.
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NewsMorgan Stanley on Mitchells & Butlers
Mitchells & Butlers’ (M&B) sales will continue to outperform a gently improving UK pub market, believe analysts at Morgan Stanley.
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NewsKPMG updates on Patisserie Holdings administration
Patisserie Holdings administrator KPMG does not expect to realise any value from the company’s subsidiaries, and has yet realise any money from freehold property or claims against third parties.
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NewsFuller’s updates on trading, capital return and departures
Fuller’s has revealed like for like sales in managed pubs and hotels are up 2.5%, in the 22 weeks to 31 August 2019.
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OpinionJP Morgan and Goodbody on The Restaurant Group
The Restaurant Group’s (TRG) H1 results yesterday revealed a strong performance from Wagamama and plans to rationalise the Leisure estate. Analysts at JP Morgan and Goodbody give their take on the numbers.
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NewsRestaurant Group writes off £125m amid ‘structurally unattractive’ leisure estate review
The Restaurant Group has written off £125m - nearly £100m related to its leisure restaurant business - as it faces continued retail decline and saturated local markets.
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NewsChopstix secures £5m debt facility from Metro Bank
Asian QSR chain Chopstix has secured a new £5m debt facility from Metro Bank, to aid its expansion in shopping centres, high streets and travel hubs.