All The Restaurant Group (TRG) articles – Page 2
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InterviewsBig Table to drive ‘strong improvements and synergies’ with Leisure acquisition
The group will find savings in the supply chain, overheads, and culture in its newly acquired business, CEO Alan Morgan tells MCA
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NewsTRG announces sale of Leisure business to Big Table Group
The Big Table Group will take over the division, principally consisting of the Frankie & Benny’s and Chiquito brands, in a deal expected to complete in October - with TRG paying a cash contribution of £7.5m as part of the transaction
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NewsTRG chairman Ken Hanna to step down
Hanna, who will not seek re-election in 2024 due to personal reasons, has become the focus of criticism from activist investors such as Irenic
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Analysis & InsightInterims ‘reinforce’ TRG’s negotiating position
Outperformance, delivered in a competitive environment, puts the Wagamama owner in a stronger position as it weighs potential asset disposals, according to analysts
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InterviewsTRG: ‘We’re reviewing our options from a position of strength’
CEO Andy Hornby tells MCA that the group’s Wagamama and Pubs divisions have seen real volume growth and outperformed the market, with the pace of expansion accelerated accordingly
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NewsThe Restaurant Group deliver strong sales growth
The group said it has made “significant progress” in the first eight months of the year, delivering strong like-for-like sales growth despite the consumer backdrop
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NewsActivist investor weighs bid for TRG divisions
Activist investor TMR Capital is reported to be weighing a bid for The Restaurant Group’s Brunning & Price and Leisure divisions
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Analysis & Insight
Pressures to grow shareholder returns remains for TRG
The pressure to make large disposals also remains, with shareholder Irenic saying improved trading ’highlights the gap between the company’s intrinsic value and its significantly lower share price’
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NewsTRG reports strong trading in year to date
The Restaurant Group has said it is reviewing its strategic options while accelerating the expansion of Wagamama, and reported progress on the rationalisation plan for its leisure estate
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NewsActivist investors launch fresh attack on Wagamama owner
The salvo comes as The Restaurant Group’s finance chief steps down and its share price plunges by 20%, The Telegraph reports
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NewsTRG announces changes to senior team
Mark Chambers, currently CEO of Leisure & Concessions, will be replaced by Jonathan Knight as he takes over the CFO role from Kirk Davis
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Analysis & InsightDamage control: Righting the passage of TRG’s share price
Is The Restaurant Group’s new strategy a big enough catalyst to improve the position of its share price or is a more radical shake-up required? MCA reports
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NewsNon-exec departure at The Restaurant Group
Alex Gersh will step down from his role as an independent non-executive director and chair of the audit committee in July
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NewsFinnCap: Activist pressure on TRG likely to continue
Activist pressure will likely remain despite all resolutions passed with the requisite majorities at the AGM, albeit finnCap sees “considerable upside” for the group
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NewsNew activist calls for break-up of Wagamama owner as pressure builds
The Restaurant Group’s board also faces accusations of mismanagement, The Telegraph reports
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NewsTension builds ahead of TRG crunch meeting
Oasis expressed its “deep concern regarding the equal treatment of shareholders”, while Royal London Asset Management has backed the TRG management team
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Analysis & InsightBrandwatch: Barburrito
Second in scale in the fast-casual Mexican market, MCA explores Barburrito’s journey, customer perceptions of the brand and whether the acquisition by TRG could give it a new lease of life
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NewsActivist Coltrane seeks change at TRG
A New York-based investor has called for change at The Restaurant Group after taking a 3% stake, The Sunday Times reports
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NewsTRG’s largest shareholder ‘remains supportive’
Columbia Threadneedle Investments, which owns a c16.7% stake in The Restaurant Group, issued a short statement in support of the company after criticism from activist investors
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NewsAnger over Hornby’s pay mounts
The activist investor seeking an overhaul at The Restaurant Group has won the backing of an influential shareholder advisory group in protesting at chief executive Andy Hornby’s pay package, The Times reports