Finance – Page 88
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NewsHedge fund Oasis takes 5% stake in The Restaurant Group
Hong Kong-based fund could shake up owner of Wagamama and Frankie & Benny’s chains, the FT reports
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NewsSalonica Maroon ups stake in Creams
The 100-strong dessert parlour brand is looking to “turbo charge” its growth nationally and internationally
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NewsGaucho announces record trading and three new openings
Turnover at the Argentinian steakhouse brand has increased from £55m to £73m over the past year
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NewsStarbucks franchisee posts sales of £75m
23.5 Degrees has grown to 93 sites and now has a pipeline of 50 new openings
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NewsDeliveroo hails ‘significant improvements in profitability’
Orders declined by 2% year-on-year, but this was offset by growth in value per order, driven by item price inflation and consumer fees
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NewsJust Eat maintains focus on profitability
The delivery company continued to see orders decline from their pandemic peak, but maintained a stable gross transaction value despite lower volumes
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NewsBrexit leaves 330,000 worker shortfall
A joint study by pro-European think-tanks said that the ending of free movement was constricting the UK economy, adding to inflation and “contributing significantly” to labour shortages
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NewsWagamama appoints new CFO
Matt Crumpler is due to join the Asian restaurant brand next month from his role as FD at The Restaurant Group
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NewsRevolution Bars Group closes on Mondays and Tuesdays to save energy
The group has revised down its profit expectations for the year after its bars were down 9% over Christmas due to the rail strikes
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NewsCooks Coffee lines up seven new cafes
The New Zealand-based company has openings planned under its Esquires and Triple Two brands across Northamptonshire, Leicestershire and Bedfordshire, London and southern England
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NewsOakman looks to raise £5.3m from shareholders
The discounted share placement will provide a buffer to protect the business from a further worsening of the trading environment
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NewsSupport needed when Covid loans fall due
UKHospitality’s chief executive Kate Nicholls has said the government could ask banks to be more lenient with borrowers or demand that lenders automatically extend loan repayment terms to applicants.
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NewsUK economy grew in November
GDP rose by 0.1% on the previous month, according to the Office for National Statistics, boosted in part by a strong performance by pubs and bars during the FIFA World Cup in Qatar
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NewsAviary Hospitality partners with Daizun Investments
The South Coast-based group is looking to expand its brands Chicken & Blues and Flamingo Cafe Bar following the acquisition of James & White Group
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NewsWhitbread reports continued trading momentum
The Premier Inn operator saw F&B sales remained down on pre-pandemic levels, despite strong like-for-like sales growth in Q3 FY23
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NewsMitchells & Butlers sees festive trading up on pre-pandemic levels
The Harvester and All Bar One operator saw like-for-like sales up by 8.9% in the 15 weeks to 7 January, compared to the same period in 2019
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NewsCrussh secures pre-pack sale, saving eight stores
The food to go chain has been heavily impacted by post-pandemic trading conditions, having previously operated 30 stores
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NewsNightcap sees strong half-year sales growth
Nightcap has announced a strong period of trading over the festive period, with like-for-like revenue up 27.6% in December
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NewsPuttshack entering ‘rapid growth phase’
The tech-infused mini golf concept said global factors such as the war in Ukraine had not had an impact on trading
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NewsInception Group posts return to profit
The experiential venue operator of Mr Fogg’s and Control Room B saw revenues bounce back to £12.7m in the year to December 2021