Finance – Page 120
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NewsHMRC ‘warned Patisserie Holdings in 2016 about possible fraud’
HM Revenue & Customs raised concerns with Patisserie Holdings that some of its invoices and cheques had been forged more than two years before the group revealed its accounting blackhole, The Times has reported.
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NewsFuller’s to sell beer business to Asahi for £250m
Fuller’s has agreed to sell the entirety of its beer business to Asahi for £250m.
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NewsAprirose confirms £15m NewRiver deal
Aprirose, the real estate investment company, has confirmed it was the purchaser of a 22-strong community pub portfolio from NewRiver, for £15m.
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News
Fever-Tree FY revenue up 39%
Fever-Tree, the premium mixers producer, has said revenue for the year to 31 December is expected to be up 39% to c£236m.
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News
MCA and AlixPartners launch Growth Company Index 2019
MCA is once again teaming up with leading advisory firm AlixPartners to identify the top 50 private firms with the fastest-growing profits in the UK eating and drinking-out sector.
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NewsTRG FY lfls down 2%
The Restaurant Group has reported like-for-like sales down 2% for the 52 weeks to 30 December 2018.
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Analysis & InsightPatisserie Holdings: Inevitable but still unbelievable
As Patisserie Holdings called in administrators, with 70 sites to close, James Wallin reflects on the sad conclusion to a sorry tale, and why the trashing of Luke Johnson’s reputation does no favours for the sector.
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NewsMarston’s Q1 lfls up 1.4%; announces disposal programme
Marston’s has reported total pub like-for-like sales growth for the 16-week period to 19 January up 1.4%, including strong trading over the Christmas fortnight, with lfls growth of 5.7%.
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NewsYoung’s confirms Redcomb acquisition
Young’s has confirmed the acquisition of the 15-strong Redcomb Pubs estate, as revealed by MCA yesterday.
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NewsJDW Q2 lfls up 7.2%
JD Wetherspoon has reported that like-for-like sales in the 12 weeks to 20 January increased by 7.2%, with total sales up 8.3%.
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NewsPatisserie Holdings calls in administrators
Patisserie Holdings is calling in administrators after being unable to renew its bank facilities, with 70 of its c200-odd sites to close.
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NewsYoung’s in talks to acquire Redcomb
Young’s is in talks to acquire south east-based pub, bar and restaurant operator, Redcomb, MCA understands.
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NewsDebtwire suggests PizzaExpress cuts loose international arm
Debtwire, an Acuris Company, has suggested that PizzaExpress disposes of its international arm in order to boost company margins.
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NewsSan Carlo FY sales up 8.6%
San Carlo, the Italian restaurant group, saw like-for-like sales (lfls) grow 4.6% over the festive period, with total sales up 14.8%.
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NewsPizza Hut franchisee in administration
Four Pizza Hut takeaway restaurants have closed after franchisee J&R Pizza Limited went into administration, MCA has learnt.
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NewsEx-MAD FD takes on Manchester bars
The former finance director of Mark Andrew Developments (MAD) Ltd has taken on a collection of the former Manchester bar group sites after it went into liquidation.
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NewsPatisserie Holdings continues negotiations with bankers
Patisserie Holdings has confirmed it is still in discussions with its bankers to expend the standstill of its bank facilities beyond 18 January.
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Opinion
Crowdfunding round-up
The latest investment news from the crowd, including Three Joes, Breakfast Club, Pachamama and Matt Gillan.
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NewsAnalysts corner: Rollo on Whitbread
Morgan Stanley analyst Jamie Rollo gives five reasons to stay positive about Whitbread following its announcement of faltering like-for-like sales in its third quarter.
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NewsAnalysts corner: City Pub Company
Following its 2018 trading update, analysts at Liberum and Berenberg share their views on City Pub Company’s performance.