Finance – Page 42
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NewsStonegate looking to sell 1,000 pubs to pay off debt
The TDR Capital-owned group is looking to raise an estimated £800m from the sale of the pubs, with real estate investment bank Eastdil Secured appointed to advise on the planned sale, according to a report.
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NewsHickory’s saw like-for-likes up 30% last year
The barbecue and smokehouse restaurant group, acquired by Greene King in October, said it had repaired the damage to its balance sheet done by the lockdowns.
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NewsMcDonald’s Raise the Arches campaign hits the right note
Recently launched in the UK, the marketing campaign – which never mentions the brand name – has been driving customer engagement
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NewsUK growth to fall behind Russia
The IMF has forecast Britain will be the only leading economy to slide into recession this year, as household spending struggles with high energy prices and rising mortgage rates
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NewsTriSpan acquires stake in Mowgli
The global private equity firm is backing the continued expansion of the Indian street food concept, led by Nisha Katona, which has a significant future pipeline in place, including its Brighton restaurant which opens next month.
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NewsBoE poised to raise interest rates again
The financial markets are expecting a 0.5 percentage point increase in the central bank’s base rate, to 4% – its highest level since the 2008 financial crisis.
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NewsCapco sees strong trading in Covent Garden
The West End property company, soon to merge with Shaftesbury, said it saw leasing momentum in its targeted categories, including new signings such as Gaucho
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NewsCaffè Nero pushes sales past pre-pandemic levels
The coffee shop business saw UK sales in December averaging 110% of pre-Covid levels.
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NewsEG Group warned over £7bn debt pile
The owner of Leon and Cooplands Bakery has been warned it faces the growing risk of a rating downgrade if it fails to address its debts by the end of June.
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NewsPing Pong acquired by former CEO for £3.13m
The dim sum business was running at a deficit of £11.6m to its founder Igor Sagiryan, a Russian national and former investment banker whose business interests are registered off-shore
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NewsMcWin Fund to acquire major stake in L’Osteria
The German restaurant business currently has two sites in the UK with McWin looking to drive expansion in multiple new and existing European markets.
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NewsGrowth prospects for UK economy have fallen
Chancellor Jeremy Hunt will be left with a multi-billion-pound hole before the next budget in March, the Office for Budget Responsibility has warned.
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NewsWetherspoon's sales down on pre-pandemic levels
Like-for-like sales at the pub company were 0.7% lower in the 25 weeks to 22 January 2023, compared to the period immediately before the pandemic, and 2% lower in the past 12 weeks.
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NewsInvestment group pay £640k for Crussh
Acquisition vehicle Keep in Business is part owned by Tolladine Estates, which includes Crussh creditors Simon Waterfield and Ralph Congreve as shareholders
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Analysis & InsightAnalysts examine Fuller’s profit downgrade
The pub company was left rueing the damage done by rail strikes in its latest trading update, which saw like-for-like sales down 5% vs 2019 in the four week Christmas and New Year period
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NewsCity Pub Group trading ‘better than expected’
The pub operator achieved strong like-for-like sales growth over Christmas, as it announced board changes and two new site acquisitions
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NewsMarston’s sees ‘positive sales momentum’
Like-for-like sales were up 4.5% for the 16-week period to 21 January 2023 compared to 2020, the last period unaffected by Covid-19
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NewsFuller’s revises profit expectations
Despite strong trading over the festive season, industrial strike action has significantly impacted profitability and held sales behind pre-pandemic levels
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NewsHedge fund Oasis takes 5% stake in The Restaurant Group
Hong Kong-based fund could shake up owner of Wagamama and Frankie & Benny’s chains, the FT reports
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NewsSalonica Maroon ups stake in Creams
The 100-strong dessert parlour brand is looking to “turbo charge” its growth nationally and internationally