Finance – Page 73
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NewsBrewDog co-founder in spotlight over potential conflicts of interest
BrewDog co-founder James Watt is having to sell off personal property assets linked to the brewer and pub operator in advance of a planned flotation due to concerns about potential conflicts of interest, it has been reported.
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NewsBob Bob Ricard secures funding to reopen
Renowned London restaurant Bob Bob Ricard has secured a working capital funding package from alternative lender ThinCats in order to support the reopening of its two venues.
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NewsMcMullen & Sons sees profits almost half
McMullen & Sons, the Hertford-based brewer and pub operator, saw turnover decline from £93m in 2019 to £64.4m for the 52 weeks to 27 September 2020.
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NewsGreggs experiencing stronger sales recovery than expected
Greggs has seen like-for-like sales growth of between one and three percent in its company-managed shops against the same period in 2019, since restrictions were eased earlier this year.
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NewsCity Pub trading at 90% of 2019 levels
City Pub Group has said it is now trading at 90% of the levels seen in 2019, from the 42 pubs it has opened since outdoor trading commenced in April.
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NewsHeavitree sees revenue fall by two-thirds
Heavitree Brewery, the Exeter-based tenanted pub operator, has seen turnover fall by 67.77% to £846k, for the six months ended 30 April 2021, compared to £2.6m in the same period in 2020.
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NewsVarious Eateries ‘primed for growth’
Various Eateries, the Hugh Osmond backed operator of the Coppa Club, has reported “very strong trading” since reopening, facilitated by large outdoor spaces.
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NewsHeartstone looking to build 30-strong estate
Heartstone Inns is looking to acquire additional managed houses, individually or in packages, in order to build its portfolio up to around 30 sites.
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NewsSoho House files for IPO
Soho House has filed for an initial public offering (IPO) in New York under the name Membership Collective Group Inc.
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NewsItsu confirms significant Bridgepoint deal
Itsu has confirmed that it has signed a significant deal with international asset group Bridgepoint, which see it acquire “a meaningful minority stake” in the Asian-inspired food brand, enabling it to add a further 100 outlets to its estate over the next five years.
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NewsMaven Leisure secures £4.3m
Maven Leisure, the premium bar group from the directors of ETM, has secured a £4.3m fundraise Growthdeck.
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NewsBridgepoint set to take significant stake in Itsu
Bridgepoint is poised to take a significant stake in Itsu, in a deal which would value the business at £100m, Sky News has reported.
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NewsLoungers has opportunity to sign bigger, premium sites
The expectation of record vacancy rates this year presents Loungers with the opportunity to acquire larger, premium sites, while staying true to its tight financial criteria, according to analyst Liberum.
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NewsLoungers sales up 26.6%
Loungers has reported like-for-like sales over the four-week period from 17 May to 13 June 2021 were up 26.6%, compared to the same period in 2019.
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NewsWhitbread reports high demand in tourist areas
Whitbread has reported food and beverage sales were down 86.0% in Q1 FY22, reflecting the government’s lockdown restrictions that were in place for most of the period.
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NewsCBRE appointed to sell £21.6m collection of Marston’s pubs
Global real estate advisor CBRE has been appointed by Aviva Investors to sell a collection of pubs let to Marston’s, worth £21.6m.
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NewsYO! prepares for London listing
YO! is changing its name to The Snowfox Group as it makes plans for a stock market listing.
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NewsHop Vietnamese founder hopes to build back business through raise
Hop Vietnamese has just embarked on a new capital raise as founder Paul Hopper looks to build the business back to its former size, he has told MCA.
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NewsCaffé Nero directors took 35% pay cut in first lockdown
The directors of Caffé Nero took a 35% pay cut from April 2020, during the first lockdown, in order to try and preserve liquidity in the business, accounts to the company’s latest accounts for the year ended 31 May 2020.
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NewsSSP expects pre-Covid revenues to return by 2024
SSP has said it had delivered “a resilient performance” over the six months to 31 March 2021, despite revenue being down 78.8% at constant currency rates, to £256.7m.