Finance – Page 108
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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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NewsJDW sees lfls up 6.8% for full year
JD Wetherspoons (JDW) has reported a like-for-like sales (lfls) increase, before exceptional items, of 6.8% for the full year to 28 July 2019.
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NewsGBK sees lfls up 8.6% on back of previous decline
Gourmet Burger Kitchen UK (GBK) has achieved a like-for-like sales (lfls) increase of 8.6% for the 26 weeks to 25 August 2019. This follows a 9.7% decline seen in the comparable period last year.
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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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OpinionHargreaves Lansdown on Greene King
Greene King’s shares were unmoved by the news that like-for-like sales in its Pub Company arm were down by 1.85% for the 18 weeks to 1 September, said analysts from Hargreaves Lansdown in their latest note on the brewer and pub operator.
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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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NewsGreene King lfls fall across Pub Company in Q1
Greene King’s Pub Company arm has seen like-for-like sales (lfls) fall by 1.8% for the first 18 weeks of the new financial year, to 1 September, however the past seven weeks saw a 1.5% uplift.
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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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OpinionAnalysts’ verdict: Goodbody on The Restaurant Group
In advance of The Restaurant Group’s H1 trading update tomorrow, analyst Goodbody says it’s expecting strong growth from Wagamama and evidence of stabilisation within its leisure division.
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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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Analysis & InsightAnalysts’ verdict: Peel Hunt and Liberum on Loungers
Analysts’ verdict: Peel Hunt and Liberum give their view on Loungers’ full year trading figures.
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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.