All Fuller’s articles – Page 4
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NewsFuller’s to raise £53m
Fuller’s has announced a share placing to raise around £53m, which will strengthen its balance sheet and liquidity position in preparation for a strong reopening.
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NewsSector calls for apprenticeship protections
Apprenticeship funding and youth employment must be protected if training and development of the future hospitality workforce are to be a cornerstone of the country’s economic recovery, sector leaders have said.
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NewsFuller’s FD to step down
Fuller’s finance director Adam Councell has informed the board of his intention to step down from his role at the pub and hotel business.
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NewsFormer Fullers head of finance joins Drake & Morgan
Former Fullers head of finance David King has been appointed as new chief financial officer at bar and restaurant group Drake & Morgan.
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NewsPub grant ‘not enough’
A one-off grant of £1,000 for wet-led pubs forced to close because of coronavirus has been criticised for not doing enough to support pubs through winter.
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NewsFuller’s CEO Simon Emeny: Staying positive
Fuller’s has said sales for the first half of the year (for the 26 weeks to 26 September 2020) hit £45.6m, down from £167.1m it made last year. It also reported an adjusted loss before tax of £22.2m compared to a profit of £17.9m last year. “The tightening of the tier system will present further challenges over the winter months, but we welcome the Prime Minister’s comments that we will see the need for restrictions fall away in the spring,” said CEO Simon Emeny. “When the current lockdown was announced, we acted swiftly to implement the lessons learned last time round and this latest closure has been made with minimal stock losses.
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NewsFuller’s to lay off 10% of staff
Fuller’s has said government advice to work from home means the pub company will have to lay off “at least” 10% of its staff, around 500 people.
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NewsFullers trading at 80% compared to last year
Fullers has released a trading statement for the 23 weeks to 5 September 2020 ahead of its AGM later this morning (10 September). After lockdown closed its estate, Fuller’s began reopening sites on 4 July and now has over 90% of its pubs and hotels open. Like for like sales are currently 80% and the business said sales in August were boosted by the EOHO scheme. It said Cotswold Inns & Hotels, which Fuller’s acquired in October 2019, also benefitted from the staycation trend.
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NewsDomino’s announces board appointments
Domino’s Pizza Group has appointed two new non-executive directors to its board, while made interim CFO Neil Smith’s role permanent.
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NewsFullers 'in a stronger position than many' despite £10m hit to sales
Fullers has reported the stark impact of the coronavirus crisis on the final month of its financial year, but said it is “in a stronger position than many to build towards sustained profitability.”
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NewsAbokado MD steps down
Abokado managing director Kara Alderin has stepped down to take a role with a national pub group.
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OpinionDominic Walsh: On not-so-Super Saturday and the pain that’s yet to come
If anyone thought that July 4 would bring down the curtain on the 15-week coronavirus purdah, they were soon disabused of the notion. Super Saturday was – like the weather – something of a damp squib. While some of the big pub companies opened as many as 80% to 85% of their estates on day one, research by CGA suggests that only 45% of hostelries opened their doors on Independence Day.
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NewsBBPA calls on chancellor for three-point pub support
Given sufficient support, the pub sector could help drive the economic recovery of the UK post-coronavirus, the British Beer & Pub Association has said.
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NewsEmeny urges VAT cut
Fuller’s CEO Simon Emeny has urged the Chancellor to cut VAT to prevent thousands of job losses across the hospitality industry.
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NewsFuller’s to open 27 pubs tomorrow
Fuller’s has announced a phased, gradual reopening, with 27 pubs to relaunch tomorrow.
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NewsPub sector warns of crisis over unclear opening date
More than 50 pub company and brewery CEOs have urged the Prime Minister to give a definitive reopening date for all pubs by Friday, as the sector “hits crisis point”.
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OpinionDominic Walsh: On the Marston’s and Carlsberg JV, and Just Eat
Phew, the relief! For the first time since the lockdown here was a story that was not about coronavirus. And what a story: Marston’s to exit brewing. Well, almost. When its £780 million brewing joint venture with Carlsberg was announced, I described it as an acceleration of “the redrawing of Britain’s brewing landscape” and I see no reason to change my view.
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NewsThree Joes CEO Tim Hall: ‘Everything is an option’ in The Stable acquisition
Although Three Joes primary objective at present is to get its newly acquired pizza chain back to trading, CEO Tim Hall isn’t ruling anything out when it comes to managing the new brand.
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NewsThree Joes acquires The Stable
Three Joes, the sourdough pizza and craft beer restaurant chain, has acquired 14-strong The Stable pizza chain from Fullers for an undisclosed sum.
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NewsFuller’s approves £100m CCFF loan
Fuller’s has approved the issue of commercial paper under the Covid Corporate Financing Facility (CCFF) for an initial loan of £100m.