Finance – Page 63
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NewsSessions raises £7.3m Series A funding
The business said it would use the investment to open new food halls across the UK, set up a “one of a kind food studio”, and expand its team
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NewsACI well-placed to exploit growth opportunities
Premium gastropub operator Anglian Country Inns reported strong consumer demand drove its recovery to financial strength in 2021
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NewsGino D’Acampo’s My Pasta Bar enters liquidation
Beesley Corporate Recovery has been appointed liquidator at the three-strong London-based brand
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NewsBKUK adds to corporate estate
Burger King UK has agreed to acquire 12 restaurants from franchisees Kaykem Fast Foods Limited and Saxby
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NewsArc Inspirations sees Q2 revenue up 42%
The bar group experienced a 42% uplift in sales between July and November this year, versus 2019, and says it is on track to post record revenue and profit in FY2022
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NewsNWTC seeing many opportunities to build pipeline
New World Trading Company, which has been trading ’ahead of expectations’, expects to open between five and eight sites annually from 2022.
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NewsThe Alchemist on ‘very sound financial footing’
While sales were down almost £30m for the year to 31 March 2021, a combination of refinancing, strong sales and additional equity has meant The Alchemist is in a solid position
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NewsWelsh business rates relief welcomed
Hospitality businesses in Wales are to benefit from a 50% reduction in business rates, but additional support is critical, warns UKHospitality Cymru.
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NewsShepherd Neame to offer new year rent reduction
The family brewer and pub operator has announced it will be introducing a 10% rent reduction for its licensees from 1 January 2022.
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NewsGaucho and M seeing strong trading
Parent company Lomo Topco said its 16 Gaucho and three M Restaurants had come through the pandemic in as strong a position as could reasonably be expected
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NewsDomino’s ends long-running franchisee dispute
The resolution will see Domino’s spend £20m on digital enhancements, in return for at least 45 new store openings a year
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Analysis & InsightPunch deal: Pub package values up 36%
Geoffrey Collyer of Lavender Bank Partners crunches the numbers on the Punch/Fortress deal, and finds private equity players are taking a long-term view on “pure property” leased & tenanted estates
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Analysis & Insight
Punch to explore M&A under new backer
CEO Clive Chesser told MCA the increased firepower under Fortress would allow Punch to explore further acquisition opportunities. Meanwhile one analyst suggested the regionally-alligned but under-performing Marston’s could be a key target
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NewsPunch acquired by Fortress
The deal sees Fortress Investment Group acquire 100% of the share capital, along with existing management, of Punch owner Vine Acquisitions from Patron Capital Partners
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NewsPrepare to bring back furlough, Sunak warned
The IMF has warned Chancellor Rishi Sunak that targeted support packages must be in place in the event that further restrictions are implemented, The Telegraph reports
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NewsHollywood Bowl reports ‘challenging but rewarding’ year
Hollywood Bowl has strong consumer demand return with record like-for-likes in August.
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Analysis & Insight‘Wall of capital’ expected to target pubs next year
Global real estate advisor CBRE has predicted “record M&A activity” across the leisure and pub sectors in 2022.
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NewsTim Martin: ‘Predictions for profits are hazardous’
JD Wetherspoon’s chairman Tim Martin has hit out at the government’s “radical changes of direction”, stating the implications of further restrictions could lead to a loss-making first half.
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NewsOakman Group: ‘We’ve had plenty of interest in share scheme’
The group is looking to raise £5m from its first public share offering, executive chairman Peter Borg-Neal has told MCA.
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NewsBill’s confirms closures as losses widen
The Richard Caring-backed group closed 14 loss-making restaurants during the last financial year as cost pressures forced it to revaluate their performance.