Finance – Page 61
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Analysis & InsightMarston’s location bias could leave them exposed
Marston’s bias towards sites in the West Midlands and the North of England could leave them “particularly exposed” to a macroeconomic downturn, according to analyst JP Morgan Cazenove.
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NewsCorbin & King placed into administration by majority investor Minor International
The Thailand-based investor said the restaurant group was insolvent, but CEO Jeremy King accused Minor of a power play to seize control of the holding company
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NewsCorbin & King in talks with Knighthead
The Wolseley operator is understood to be seeking new backing from the US-based fund following a dispute with its majority shareholder, Minor Hotels, Sky News reports
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NewsBoxpark in talks on several new sites
The Roger Wade-led food hall operator plans to open two to three sites a year over the next five years
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NewsWells & Co to offer further rent concessions
The decision by the family-owned pub business to offer a 10% rent concession to all its leased and tenanted pubs across came off the back of a tough December
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NewsMarston’s predicts a return of strong trading momentum
The pub company saw like-for-like sales fall by 3.9% for the 16 weeks to 12 January, reflecting the impact of Omicron
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Weekend PressHospitality groups take on insurers over lockdown losses
A second wave of multi-million pound lawsuits brought by pub and restaurant groups, over lockdown losses, are to hit London’s courts from next week, reports Reuters.
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Weekend PressCorbin & King battles biggest investor
The owner of The Wolseley has filed a motion in the High Court to stop its majority owner, Minor Hotels, calling in a £35 million loan, which would have forced the company into insolvency, reports The Sunday Times
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NewsPeach beats the trend with a ‘wonderful’ Christmas
In the five weeks of Christmas and New Year, the pub company was up 3.1% on 2019
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NewsTRG revises up its profit forecast
The group’s like-for-like sales for October, November and December show it broadly outperformed the market, and was trading above 2019 levels before Omicron hit
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NewsCity Pub Group 2021 in line with expectations
January 2022 began slowly, but in the last 10 days the pub operator reported a “significant increase in trade” as consumer confidence returns
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NewsRevolution’s Christmas parties rebook for New Year
Despite seeing cancellations, Revolution Bars Group had a mostly strong second half of 2021, with like-for-like sales from July-November +14% versus two years ago.
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NewsDeliveroo caps off ‘excellent year of growth’
The company reported continued UK market share gains in Q4 2021, with transactions up 36% year-on-year
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NewsJDW like-for-likes down +15% in Q2
JD Wetherspoons chairman Tim Martin said the company would be loss-making in H1, but hoped that the end of restrictions would contribute to a much stronger second half
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NewsInn Collection secures £42m from OakNorth
The new capital will be used to refurbish 13 of the Inn Collection Group’s existing sites and to support the continued development of its current property portfolio.
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NewsPoke House planning UK IPO
Italian poke restaurant chain Poke House is looking to list on the London markets as part of its plans to open 65 sites in the region over the next two years
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NewsNew grants for City of London businesses
The £10m scheme aims to support retail, hospitality and leisure businesses that have been hit by Omicron restrictions
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NewsNew Year trading up for Brighton Pier Group
While trading was impacted during December, Brighton Pier Group achieved a 9% increase in sales at its bars over the New Year period.
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NewsHostmore sees December revenue down 8.3%
Despite continued uncertainty around Covid, the operator of Fridays and 63rd+1st said it was positive about the future, with its first QSR format site to open in March and many other sites in the pipeline
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NewsSA Brain poised for £100m pubs disposal
SA Brain is on the verge of signing a deal to sell 100 of its pubs to a consortium comprised of Song Capital and Cerberus Capital Management, according to Sky News.