Finance – Page 128
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Analysis & InsightPlaying hard to get
The board of Revolution Bars Group has once again rejected the possibility of a deal with Deltic. James Wallin looks at what was actually being discussed, gauges the thoughts of Revolution shareholders and asks what’s next for the key participants, as well as former suitor Stonegate.
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NewsWhitbread shareholders vote in favour of Costa sale
Whitbread shareholders have overwhelmingly approved the sale of its Costa Coffee arm to Coca-Cola for £3.9bn.
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NewsOakman Inns announces H1 lfl up 8.5%
Oakman Inns has announced like-for-like sales growth of +8.5% for the 26 weeks to 30 September – an increase on the 5.1% increase seen in Q1.
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NewsChilango launches £1m bond
Mexican quick-service chain, Chilango, has announced the launch of second Burrito Bond.
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NewsPatisserie Holdings reveals winding up petition over £1.1m tax bill
The board of Patisserie Holdings has revealed a winding up petition relating to a £1.1m unpaid tax bill.
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News
Pure FY sales pass £15m mark
Pure, the healthy, food-to-go concept, in which Whitbread acquired a 49% stake in 2016, saw sales climb 27% to just over £15m in the year to 28 December 2017, helped by the addition of three new sites and like-for-like sales growth.
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News
Burning Issue
As Burning Night goes into administration, MCA news editor Finn Scott-Delany looks at its track record of raising investment, and asks whether more accountability is needed to protect investors in crowdfunding campaigns.
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NewsPatisserie Valerie owner faces crisis 'over £20m accounting hole'
Patisserie Holdings, the owner of Patisserie Valerie, has suspended its shares from trading on AIM after uncovering “significant, and potentially fraudulent, accounting irregularities”.
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NewsCity Pub Group raises £6.2m though Placing
City Pub Group has raised £6.2m through a share placing as it seeks to capitalise on opportunities in a “softening acquisitions market”.
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NewsHonest Burgers reports FY EBITDA increase
Honest Burgers, the Active Partners-backed chain, has reported a rise in both restaurant EBITDA and Group EBITDA in the year ended January 2018, driven by the opening of seven new restaurants, including the first out of London locations in Reading and Cambridge
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NewsBurger & Lobster posts £2.4m profit
Burger & Lobster recovered from a £10m loss in 2016 to post a £2.4m profit in 2017.
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NewsOrange Buffalo launches Kickstarter, opening in Tooting
The Orange Buffalo, the New York style wings concept, has launched a £40,000 Kickstarter campaign to fund its debut bricks and mortar site in Tooting.
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NewsGreggs Q3 lfls up 3.2%
Greggs has reported like-for-like sales (lfls) up 3.2% in its managed shops in the 13 weeks to 29 September, with total sales growing 7.3%.
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NewsRed Oak Taverns secures £42m fund from OakNorth
Red Oak Taverns, operator of 161 pubs, has secured a £42m refinancing and acquisition package with OakNorth, MCA has learnt.
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News
Orange Brands eyes Duck & Waffle Local expansion
Orange Brands Management, the operator of SushiSamba and Duck & Waffle, sees opportunities for further sites of Duck & Waffle Local format in London, MCA has learnt.
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NewsWagamama UK lfls up 8.5% in Q1
Wagamama achieved an 8.5% increase in like-for-like (lfl) sales at its UK restaurants, during the 16 weeks to 19 August 2018.
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NewsBrewDog to close Equity for Punks V on £23m
BrewDog is set to close its fifth Equity for Punks crowdfunding round next week, after raising £23m over the past year.
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NewsRevolution sees positive results from new late-night trial
Revolution Bars Group chief executive Rob Pitcher has told MCA he is encouraged by early signs from the group’s trial of a more experiential late-night offer.
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NewsDeliveroo pre-tax losses increase to £184m
Deliveroo’s pre-tax losses increased to £184.7m in 2017 – up from £129.1m in 2016 – as it invested an additional £106m in the business.
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News
Mildreds and Encore Capital deny sale report
Reports that Encore Capital has acquired vegetarian restaurant group Mildreds has been denied by both parties.