Finance – Page 50
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NewsNQ64 secures £2.5m in funding from ThinCats
The retro arcade bar, backed by Imbiba, has opened five sites within the past 18 months and is targeting openings in major UK cities, including Leeds, Bristol and Brighton
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NewsCineworld on brink of bankruptcy after Covid slump
The world’s second-biggest cinema chain has warned it is in discussions to restructure the business, The Telegraph reports
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NewsMinisters plan energy crisis bailout for smaller businesses
Proposals come as ex-Ofgem boss urges more help for poor, The Sunday Times reports
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NewsIndividual Restaurants reports loss in 2021
The operator of the Piccolino, Riva Blue, and Restaurant Bar & Grill brands reported a loss of £8.2m for the financial year ending 27 March 2022
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NewsEgo Restaurants makes ‘significant progress’
3Sixty Restaurants, which operates the Ego JV with Mitchells & Butlers, reported profit for the year to March 2022 of £3.8m, compared to a loss of £842k in 2021
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NewsJust Eat to dispose of iFood stake
The delivery company has announced it has entered into an agreement to sell its equity stake of around 33% in the iFood joint venture to Prosus, for a cash consideration of up to €1.8bn.
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NewsThe Alchemist sees sales treble
The Palatine-backed operator achieved a “very strong financial performance” in FY2021/22, with profit before tax of £2.35m, compared to a loss of £5.5m in 2021
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NewsBob Bob Ricard secures 'seven-figure sum' for expansion
The luxury London restaurant business has obtained additional growth capital funding from alternative lender ThinCats
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InterviewsBrakspear: ‘We are back in survival mode’
The 120-strong pub operator may still be seeing good levels of trade, but the focus now is on keeping costs in check in order to ride out the storm of cost pressures, CEO Tom Davies has told MCA
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NewsSoho House increases members
The private members club increased its UK membership by 20% in the last year from 45,277 to 54,764
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NewsPatty & Bun reduces losses in 2021
The burger brand has appointed former itsu CEO and Pret franchise director Gerard Loughran as a non-executive director
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NewsNightcap agrees new debt refinancing facility
The owner of the Adventure Bar Group, Barrio Familia, and The Cocktail Club has agreed a £10m facility with HSBC, partly to be used for capex on new sites
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NewsBrewDog shares first of ‘blueprint’ profits
The craft beer brewer and bar operator described the new rewards scheme as “setting the bar higher for hospitality workers everywhere” and said job applicants were up more than 75%
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NewsWendy’s rolls back on UK growth targets
Wendy’s is now expecting to have 35 UK restaurants open by the end of 2022 – down from the 50 to 60 previously spoken about – but is still bullish about the market.
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NewsBone Daddies secures new loan facilities
The operator of the Bone Daddies ramen chain and Flesh & Buns will fund new capex with Investec loan facilities secured in June
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NewsDeliveroo growth slows amidst headwinds
The delivery company reported gross transaction value up by 8% in the UK and Ireland but a slowdown in growth in the second quarter, in its half year update
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NewsHeart with Smart reduces losses by £28.5m
The franchise operator of Pizza Hut Restaurants and Itsu believes market fundamentals continue to be strong and is actively seeking additional brand partners alongside the acceleration of its openings strategy for Itsu
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NewsGordon Ramsay Restaurants makes £6.8m pre-tax loss
The group, which added 10 restaurants to its portfolio in the last financial year, said it remained committed to its growth strategy
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NewsKFC UK reports quarterly sales decline
In a financial update, Yum! Brands reported a quarterly sales decline of 8% at KFC UK & Ireland, and a 1% decline in the year to date
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NewsNightcap revenues soar beyond pre-pandemic levels
In its year-end trading update, the Adventure Bar group and Barrio Familia owner reported a 73.2% revenue increase in Q4 of FY2022, compared to 2019