Finance – Page 98
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NewsGreggs secures £150m credit from Covid Corporate scheme
Greggs will be able to meet its liquidity needs for a closure period of up to a year as a result of £150m credit received through the Covid Corporate Financing Facility scheme.
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NewsTrade bodies warn support packages are being delivered too slowly
Crucial packages of support announced by the Government are not being delivered quickly enough to help businesses affected by the coronavirus, leading trade bodies have warned Chancellor Rishi Sunak.
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NewsTRG models ‘pessimistic’ slow recovery scenario
The Restaurant Group has modelled a “pessimistic scenario” for the current financial year, which would see 400 of its sites reopened gradually between July and December.
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NewsTRG raises £57m in share placing
The Restaurant Group has raised £57 million following the succes
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News'UK faces depression if cash doesn’t arrive soon'
If government money does not begin flowing to businesses and consumers, it risks plunging the country into a depression, Roasting Plant Coffee UK CEO Jamie Robertson has warned.
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NewsMcDonald’s pulls guidance following significant sales dip
McDonald’s has pulled both its FY20 and long-term guidance following a significant March sales decline across its markets.
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NewsThe Conversation: with Street Feast CEO Jonathan Downey
In the latest edition of MCA’s new virtual event, The Conversation, former corporate lawyer and current Street Feast CEO Jonathan Downey discuss the impact of coronavirus on our sector, what’s been achieved, and what we are looking for next.
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NewsDeloitte: Opportunistic M&A before crisis ends
Well-invested brands still have the chance of emerging from the coronavirus crisis in a stronger position, Deloitte corporate finance Ed Jenkins has told MCA.
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NewsAntonio Carluccio Foundation offers grants of £500,000 to businesses affected by coronavirus
The Antonio Carluccio Foundation will make grants of up to £500,000 this year to support hospitality businesses hit by the coronavirus pandemic, MCA’s sister Magazine Big Hospitality reports.
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NewsHix: 'Not my decision to appoint administrators'
Mark Hix has appointed administrators to his three restaurant companies - WSH & Mark Hix Restaurants, Restaurants etc and Hix Townhouse.
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NewsFamous Brand will no longer finance GBK
Famous Brands, the South Africa-based group, has said it will no longer fund its loss-making Gourmet Burger Kitchen (GBK) restaurants in the UK.
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NewsTRG downsizes exec pay and operations
The Restaurant Group has announced an extension to its lending facilities, executive pay cuts and a downsizing of its board.
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NewsLuke Johnson: ‘Terrible trade-off’ lies ahead in virus fight
Luke Johnson has warned the UK could face a “Great Depression” and would have to decide if the containment measures were worth the “collateral damage” of falling living standards and damage to mental health.
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NewsChancellor to overhaul SME loan scheme
The chancellor is set to overhaul his emergency aid scheme for small businesses (SMEs) as companies struggle to access crisis funds, Sky News reports.
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NewsMajority of companies face diminishing cash pile
A large number of companies are in danger of running out of money within weeks, according to a survey by the British Chambers of Commerce. The survey found 62% of companies polled late last month said that they had enough cash to keep them going for the next three months ...
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NewsOne in five SMEs at risk of collapse within a month
One in five SMEs are at risk of collapsing due to lack of cashflow in the next four weeks, new research by the Corporate Finance Network has revealed.
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NewsYoung’s places majority of staff on furlough
Young’s will retain all its staff through the coronavirus crisis by placing the vast majority on furlough – qualifying them for the Jobs Retention Scheme’s 80% Government wage subsidy - and reducing board members salaries by 20%.
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NewsBudweiser pledges £1m to British pubs
Budweiser UK has vowed to donate at least £1 million to British pubs through its new ‘Save Pub Life’ scheme, intended to support the sector during the coronavirus closure period.
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NewsCity Pub Co raises £15m after share placing
City Pub Group has raised £15m from existing shareholders and other institutional investors this morning after placing 30m of new ordinary shares.
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NewsTRG to place Chiquito in administration
The Restaurant Group-owned brand Chiquito has filed a notice of its intention to appoint administrators, suggesting it may be the first big restaurant group to collapse because of coronavirus, the Times reports.