Finance – Page 92
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NewsTossed creditors include £9.3m Jersey investor
Zest Food, the operator of Tossed and Vital Ingredient, has left liabilities of £9.3m to its investor after going into administration, a progress report shows.
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NewsB&K to raise £2.5m via rights issue
Brewhouse & Kitchen anticipates trade will recover to pre-pandemic levels within one year.
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NewsMore than one in four Scottish hospitality businesses at risk of collapse
More than one in four tourism and hospitality businesses in Scotland could still be at risk of collapse in the fallout of the coronavirus crisis, according to a new report by the University of Edinburgh Business School and credit risk assessment company Wiserfunding.
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NewsLaine reports losses of £8.4m
Laine Pub Company has reported a loss after tax of £7.4m for the 50 weeks to 18 August 2019.
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NewsPage’s Putney Beach investment fund wound up
David Page’s secondary investment vehicle Putney Beach has been wound up.
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NewsEast Coast Concepts bought out of administration
East Coast Concepts, the Manchester-based restaurant and bar group, has been bought out of administration.
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NewsCreams sales up 35% yoy in August
Creams Café has reported year-on-year August sales were up 35% during the Eat Out to Help scheme.
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NewsGordon Ramsay: Trade ahead of forecasts
Gordon Ramsay Restaurants has reported trading since reopening is ahead of forecasts, though difficult to project how the trends will develop.
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NewsChilango sold out of administration
Chilango has been sold out of administration, securing 10 of its 11 restaurants.The burrito brand announced today that administrators RSM had secured a sale of the group to investment firm RD Capital Partners in a deal that will save 130 jobs.Last month, Chilango filed a notice of intention to appoint administrators as a result of pressures caused by the coronavirus lockdown, having already gone through a company voluntary arrangement (CVA) at the end of 2019.
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NewsGreene King posts £273m losses
Greene King’s revenues were down 13.4% to £1.9bn in the full year to 26 April 2020 with its pub business worst hit by the coronavirus.
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NewsCMA launches Marston’s/Carlsberg probe
The Competition and Markets Authority has launched a formal inquiry into the £780m merger of Marston’s and Carlsberg’s brewing operations.
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NewsPizza Express confirms permanent closure of 73 sites
Pizza Express has confirmed it will close 73 of its UK restaurants – almost a fifth of its estate – as part of its CVA process.
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NewsAlix Partners: Sensible debt is good financial management
Private equity debt financing will return to the casual dining sector as it begins to recover, Alix Partners MD Graeme Smith has predicted.
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NewsBrewhouse & Kitchen attributes 115% sales growth to EOHO scheme
Brewhouse & Kitchen has seen 115% sales growth in the first six days of the government’s Eat Out to Help Out scheme.
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Analysis & Insight'Significant return to offices' needed to support operators
As two thirds of UK workers are yet to return to their offices, consumer and location intelligence specialise CACI has highlighted the devastating economic impact working from home is set to have on F+B and retail operators in London specifically.
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Analysis & InsightAlixPartners: Gradually building momentum
Just over a month since restart, it is obvious that the sector’s revival will take time, and sadly it will not include everyone.
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NewsGBK exploring all options for long-term sustainability
Gourmet Burger Kitchen parent company Famous Brands has said it is continuing to explore “all options” to ensure the long-term sustainability of the better burger brand in the wake of the coronavirus crisis.
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NewsHawthorn Leisure reports solid restart, LFLS down 15%
Hawthorn Leisure, the New River-backed pubco, has reported a “solid” start to its post-lockdown trading.
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NewsMitch Tonks ‘astounded’ by Rockfish’s post-lockdown trading
Rockfish co-founder Mitch Tonks has said he is “astounded” by the numbers in its first month of reopening, as the group’s nine restaurants are once again open for business.
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NewsCarlsberg reports global profits drop as coronavirus impacts all markets
Carlsberg has reported a 12.6% drop in revenues for the six months to 30 June 2020 as it sees “all markets” affected by the coronavirus crisis.