All Finance articles – Page 29
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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.
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NewsPizza Express to focus on upgrading sites as EBITDA falls 7.7%
Pizza Express is to focus its capital investment on upgrading its existing estate in the UK & Ireland, rather than adding new sites, as sales remained flat in the first half of the year.
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NewsKooks-backed sushi brand liquidated
Australian-style sushi concept Inigo, backed by The Kooks’ Luke Pritchard, has been liquidated, MCA understands.
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NewsThe Real Greek revenues ’slightly down’
The Real Greek’s like for like revenues are “slightly down” on last year, due to the heatwave comparative of last year, the restaurant’s chairman will tell its annual general meeting today.
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NewsLoungers outperforms market with 6.9% LFL growth
Loungers, the listed café-bar group, has reported like for like sales growth of 6.9%, as it continues to outperform the wider hospitality market.
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NewsDeep Blue acquires Harry Ramsden’s from Boparan
Deep Blue Restaurants has acquired Harry Ramsden’s from Boparan Restaurant Group (BRG). The transaction sees the 25-strong Deep Blue take over the entire estate of the Harry Ramsden brand, debt free, which includes outlets in 34 locations across the UK, Ireland and Malaysia. BRG will retain an interest in the ...
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NewsBird sold in pre-pack to Crown Partnership
Fried chicken and waffle concept Bird has been sold in a pre-pack administration to the hospitality and catering business Crown Partnership, MCA has learnt.
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NewsUS franchise entrepreneur swoops on Wrap it Up
US restaurant executive and investor Aziz Hashim has bought a majority stake in World Gourmet Restaurants, the operator of grab and go franchise Wrap it Up!, MCA can reveal.
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NewsBounce-operator appoints PE director
Social Entertainment Ventures (SEV), Adam Breeden’s competitive socialising company, has appointed Acropolis Capital CEO Cameron Chartouni as a director, MCA understands.
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NewsCabana calls in administrators, sold to Hush
Cabana Restaurants, the Jamie Barber-led Brazilian barbecue brand, has appointed administrators, with five sites sold to Hush Brasseries, another Barber-led group.
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NewsSukhothai undergoes partial MBO
Thai casual dining group Sukhothai has undergone a partial management buy-out (MBO), with the current management team joining founders Gerrard Marks and Yupha (Ban) Kaewkraikhot as shareholders.