All Mitchells & Butlers articles – Page 4
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InterviewsM&B’s Bob Ivell: ‘We have been at the mercy of the government’
Unlike the economic damage done by recessions, the hospitality has had no control over its destiny during the pandemic, according to Bob Ivell, non-executive chairman at Mitchells & Butlers (M&B), and winner of the Lifetime Achievement Award at MCA’s Retailers’ Retailer Awards.
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NewsBeer supply is ‘patchy’ in areas but not ‘critical’
Mitchells & Butlers and Greene King have found that the supply of certain beer brands – namely Birra Moretti on draft – has been “patchy” but it not causing a huge problem yet, attendees of MCA’s The Conversation heard.
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NewsGreene King: ‘Majority of orders are through our app’
Greene King has seen usage levels of its app soar since reopening, with 70% of its orders being submitted by guests through the technology, chief executive Nick Mackenzie told MCA’s The Conversation.
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InterviewsPhil Urban: Outdoor trading ‘lifts the spirits’
Mitchells & Butlers CEO Phil Urban has hailed the euphoria of customers being able to go out and mix with friends after months of lockdown.
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EventsRetailer’s Retailer Awards 2021 winners
The best of the best in the hospitality industry were recognised at MCA’s 2021 Retailer’s Retailer Awards, which were broadcast live on 11 March.
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NewsM&B’s Bob Ivell awarded Lifetime Achievement
Mitchells & Butlers chairman Bob Ivell, known as one most experienced and successful leaders the modern pub and restaurant sector has ever known, has been awarded MCA’s Lifetime Achievement at the Retailer’s Retailer Awards.
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NewsM&B completes £350m fundraise
Mitchells & Butlers has completed its capital fundraise, securing gross proceeds of £350.5m from shareholders.
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NewsState aid cap upped to £10.9m
The state aid cap on government grants has been raised to £10.9m, Paul Scully, the minister for business, consumers and labour markets has confirmed.
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News‘As good as could be expected’ - operators react to the Budget
In what is now a well-worn routine, Boris Johnson was last week the bearer of bad news, announcing a much slower than preferred roadmap reopening, with hospitality apparently at the end of the queue.
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NewsM&B: £351m fundraise critical for future
Mitchells & Butlers has set out further details of its plans to launch of an open offer to raise up to £351m.
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NewsExtension of JV arrangements for Ego Restaurants
Mitchells & Butlers (M&B) has reached an agreement with James Horler, CEO of 3Sixty Restaurants, and its other shareholders, to continue with the joint venture arrangements, in relation to the development of Ego Restaurants, for a further period.
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Analysis & InsightPeel Hunt ups target price for M&B after share announcement
Analyst Peel Hunt has increased its target price for Mitchells & Butlers (M&B) from 275 pence per share to 325p and changed its recommendation from Add to Hold.
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NewsM&B to raise £350m from shareholders
Mitchells & Butlers has made strides to ease its significant lockdown cash burn through an equity raise and unsecured revolving credit facility.
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NewsM&B to explore equity raise to ease cash burn
Mitchells & Butlers is to explore an equity capital raise to increase its “financial and operational flexibility” in the face of significant lockdown cash burn.
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InterviewsM&B CEO Phil Urban on the ‘cruel irony’ of tier 3 restrictions
It’s an oft-told observation that coronavirus and the work from home directive has led to empty city centres but thriving suburban neighbourhoods.
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NewsM&B axe 1,300 jobs
Mitchells & Butlers has announced 1,300 of its staff have been made redundant as it deals with the ongoing impact of the coronavirus pandemic. The 1,700-strong group, which operates brands including Harvester, All Bar One and Toby Carvery, began redundancy consultations with a number of staff last month, and has since started working with advisors CBRE to close up to 20 leasehold pubs and restaurants. The job cuts came as M&B revealed its financial results for the year to 26 September, which saw pre-tax losses of £123m, compared to a profit of £177m in 2019.
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NewsM&B: Staying optimistic about recovery
Mitchells and Butlers has reported a 34.1% sales fall compared to last year, coming in at £1,475m. It made a pre-tax loss of £123m compared to a profit of £177m last year. “Throughout a very uncertain and challenging year our businesses and teams have adapted quickly, creating a safe environment for guests and putting us in a strong position to benefit when consumers are able to eat out again,” said CEO Phil Urban.
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NewsM&B to close 20 sites
Mitchells & Butlers is working with advisors CBRE to close up to 20 leasehold pubs and restaurants.
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NewsM&B launches redundancy process
Mitchells & Butlers has begun a redundancy consultation with a number of staff as it deals with the impact of the coronavirus pandemic.