Finance – Page 69
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NewsJD Wetherspoon ‘cautiously optimistic’ after year of lockdowns
The managed pub company reported a loss before tax of £154.7m, during a period when pubs were closed nationally for 19 weeks.
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NewsBenugo hails resilience despite losses
The café and restaurant operator said it was well positioned to regain its growth trajectory in 2021.
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NewsHigh Court dismisses case against Caffe Nero’s CVA
The challenge was brought by Ronald Young, a Nero landlord who received financial support for his case from the Issa brothers.
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NewsTortilla to have £70m initial market capitalisation on AIM
Shares in Tortilla Mexican Grill plc will begin trading on 8 October with a £70m market capitalisation. On admission, Quilvest will own approximately 20.4% and the board approximately 12.3% of the issued ordinary shares.
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NewsSSP sees improvement in revenues in Q4
SSP Group expects to achieve revenues of around 47% of 2019 levels in the fourth quarter, ending 30 September 2021, as passenger numbers continue to rise.
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NewsFulham Shore sees trading surpass 2019 levels
Franco Manca and The Real Greek operator Fulham Shore has seen total revenues reach more than £39m for the half year to 26 September 2021, compared to £36m achieved in 2019.
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NewsComptoir believes long-term prospects look 'extremely positive’
The reduction in competition for premium sites is prompting Comptoir to expand its estate with new sites for its QSR brand Shawa as well as Comptoir Libanais
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NewsTasty sees losses reduce as summer trade boosts balance sheet
Tasty said it now had “a viable platform” on which to build a successful business following support from creditors, landlords and government, as it reported a +33% uplift in revenue for the half year to 27 June 2021.
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NewsBurger King UK lfls sales down 23% last year
Burger King UK experienced an “extremely encouraging performance in delivery and drive thru,” despite significant trading disruption in high streets and shopping centres in 2020
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NewsPatisserie Valerie auditor found to have ‘serious lack of competence’
Accountancy firm Grant Thornton has been fined more than £2.3m over numerous failings in the audits of Patisserie Valerie.
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NewsTortilla announces plans to float
Tortilla has announced plans to list on AIM in early October, as well as making two new non-exec appointments with the arrival of Emma Woods and Laurence Keen.
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NewsFuller’s business ‘steadily increasing’
Chief Executive Simon Emeny said life was “gradually returning to normal”, with a return of customers to its central London pubs.
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NewsCity Pub Group sales on ‘upward trajectory’
The Clive Watson-led group has added the Grade II listed Cliftonville Hotel in Cromer, Norfolk, to its portolio, for £1.7m.
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NewsM&B reports ‘volatile but strengthening trade’
Mitchells & Butlers has reported like-for-like sales were 97% of pre-Covid levels, in the 18 weeks since 17 May, with the most recent eight weeks up to 104%.
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NewsTen Entertainment sees most successful trading period in history
Ten Entertainment Group has said it has experienced like-for-like sales growth of 42% in the 11 weeks since 27 June, with footfall growth resulting in the group’s most successful trading period in its history.
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NewsMark Crowther: ‘There is bundles of equity out there for pubs’
There are plenty of opportunities for growth and investment in the pub sector, with “bundles of equity” available, according to Mark Crowther, chairman and investor at both Portobello Brewery and Curious Brewery.
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NewsFridays on track with IPO
Electra Private Equity, the backer Fridays and 63rd+1st, has said it is on track to float the brands on London Stock Exchange in the fourth quarter of this year.
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NewsEat Out to Help Out propels inflation to nine-year high
Inflation has soared to its highest level in nine years, with the Office for National Statistics (ONS) claiming this is down to last year’s Eat Out to Help Out scheme.
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NewsBain Capital acquires Gail’s owner Bread Holdings in £200m deal
Bain Capital Credit, in partnership with EBITDA Investments, has acquired Bread Holdings – parent company of the Gail’s Bakery chain and wholesale business The Bread Factory – from Risk Capital Partners (RCP) in a deal worth more than £200m.
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NewsYo! retail range cushions restaurant losses
Yo! suffered a sharp drop in sales as restaurants were forced to shut in pandemic, but has continued to grow its supermarket presence to mitigate the impact.