Finance – Page 76
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NewsHakkasan acquired by Tao Group Hospitality
Hakkasan Group has been acquired by US-based Tao Group Hospitality, which plans to expand its global portfolio of brands including in the UK.
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NewsWhitbread makes £1bn loss
Whitbread, the hotel and restaurant operator, has reported a statutory loss before tax of £1bn, as revenue fell 71.5% to £589.4m during a year of lockdowns and restrictions.
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NewsRisk appoints at the top for Curious after completing acquisition
Risk Capital Partners (RCP) has appointed Mark Crowther and Simon George as chairman and managing director of Curious Brewery, respectively, as it confirms the completion of its purchase of the business.
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NewsJAB pumps £185m into Pret
Pret A Manger received a £185m cash injection from owner JAB Holdings earlier this year, Companies House accounts reveal.
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NewsAdnams reports £3.7m operating loss
Brewer, pub operator and retailer Adnams saw sales down for the 12 months to 31 December, from £74.7m in 2019, to £50.6m in 2020. The company posted a £3.7m operating loss, compared to profit of £719k for the same period last year.
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Analysis & InsightMixed reactions from analysts on Domino’s update
Domino’s like-for-like (lfl) sales and order growth in Q1 has been met with a mixed reaction from analysts.
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NewsOakman outperforms the market
The Oakman Group has reported an excellent first full week of trading since customers were allowed to return to outdoor-only service.
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NewsDomino’s like-for-likes up 18.5%
Domino’s Pizza Group has reported periods of “exceptional sales”, with like-for-like system sales up 18.5%.
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NewsHospitality battles over insurance pay outs in court
Several high-profile hospitality groups, including Corbin & King and Black & White Hospitality, are turning to the courts in order to escalate long-running battles over pay-outs from business interruption insurance schemes, the Financial Times has reported.
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NewsShepherd Neame swings to loss
Shepherd Neame has reported a fall in turnover to £55.3m for the six months to 26 December 2020, from £79m for the comparable to the first half of 2020.
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NewsHammerson: Footfall 80% of pre-pandemic
Landlord Hammerson has reported 90% of operators in its UK estate are currently able to trade, with footfall is “competitive with pre-pandemic levels”.
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NewsThe Alchemist refinances loans
The Alchemist has received a new injection of capital after completing a refinancing of its banking facilities and shareholder loans.
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NewsUpham keen to impress investors following turnaround plan
Upham Group has said it is a strong financial position following the take-up of support offered during the pandemic, including a £1.4m CBIL, and a restructure of its operations, and keen to impress its investors.
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NewsIssas buy up Nero debt
The new owners of Leon are close to taking control of Caffe Nero after buying up the coffee chain’s debts, The Telegraph reports.
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NewsEG Group acquires Leon
EG Group, the forecourt retailer and fast-food operator, has acquired Leon Restaurants.
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Analysis & InsightDifferentiation is key to a successful rollout
The ability to provide a differentiated experience is key to a successful rollout, and one that Loungers is able to offer, according to analysts Berenberg.
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NewsDeliveroo must prove itself to the market, says Shu
Deliveroo’s founder and chief executive Will Shu has said his message to shareholders and the wider investor community is “it is on me to prove the long-term value of this company”.
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NewsRosa’s Thai plans five to six per year
Trispan-backed Rosa’s Thai has said it expects to open five to six new sites each year, while also pursuing opportunities to operate delivery-only cloud kitchens as it continues with its expansion plans.
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NewsHawthorn eyes standalone status with IPO
Community pub company Hawthorn has announced plans to list on the stock market and will explore the potential for an IPO following a strategic review.
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NewsAdmiral Taverns sees profits down by a third
Admiral Taverns has achieved an underlying operating profit of £11.1m, down from £17.2m in 2019, for the 52 weeks to 30 May 2020.