Private equity backing has made casual dining market ‘lazy,’ Hestia boss warns hospitality The owner of a premium hospitality investment group which is targeting revenue of £100m over the next three years has said operators in the casual dining market have gotten “lazy” because of private equity backing.
TGI Fridays owner posts flat earnings as Christmas holidays boost revenue amid cost-cutting drive Retail & Leisure Owner of chain restaurant TGI Friday’s said revenues were flat during the second half of the year, amid a cost cutting drive for the group.
Pizza Express and Wagamama show signs of recovery after private equity and pandemic struggles Top of the food chain Wagamama, Dominos and Pizza Express are among a cluster of top restaurants in the UK which have seen their profits increase in the last six months, new research shows, as the market slowly shows signs of recovery. The combined profit of the top 100 restaurants in the UK rose from £19.9m in September 2022 to [...]
TGI Friday’s owner shares plunge after revenue sinks amid diners’ tightening purse strings May 26, 2022 TGI Friday’s owner Hostmore’s share price has plummeted almost 15 per cent after the restaurant operator posted subdued revenue versus pre pandemic levels. Hostmore, which also operates the cocktail bar brand 63rd+1st, said like-for-like revenue was six per cent lower than 2019 levels. In a trading update for the 20 weeks ended 22 May, the [...]
Carlyle Group to buy insurance service Sedgwick for £5.1bn September 12, 2018 Private equity firm The Carlyle Group has acquired US insurance claims service provider Sedgwick for $6.7bn (£5.1bn). Current majority shareholder KKR will exit the group and Stone Point Capital, CDPQ and Sedgwick management will remain minority shareholders when the deal coses later this year. Read more: Plastic packaging giant RPC confirms buyout talks with Apollo and Bain [...]
Carlyle Group to buy insurance service Sedgwick for £5.1bn September 12, 2018 Private equity firm The Carlyle Group has acquired US insurance claims service provider Sedgwick for $6.7bn (£5.1bn). Current majority shareholder KKR will exit the group and Stone Point Capital, CDPQ and Sedgwick management will remain minority shareholders when the deal coses later this year. Read more: Plastic packaging giant RPC confirms buyout talks with Apollo and Bain [...]
Private equity group Abraaj closes London office as cost-cutting continues September 11, 2018 Dubai-headquartered private equity giant Abraaj is closing its London office as part of cost-cutting measures ahead of the sale of its fund management unit. Liquidator PwC confirmed the closure of the company's Mayfair base and said it is part of normal money saving activities during an insolvency process. Read more: TGI Friday’s private equity owner Electra ends buyout talks The [...]
TGI Friday’s private equity owner Electra ends buyout talks August 24, 2018 UK private equity firm Electra which owns TGI Friday’s today confirmed it had ended talks about a possible buyout of the company. Electra did not say who the interested parties were, but it had been talks about a possible sale since May. Read more: CEE private equity investment hits record high It said talks for [...]
Restaurant review: Craft London is a real diamond in the rough June 23, 2015 Greenwich Peninsular is getting the regeneration treatment. Right now it’s a sad, grey expanse consisting of a few warehouses and a giant circus tent where you can watch the Foo Fighters. But in five years… It’s going to blow your mind. The brochure says it’s going to be full of flats and a theatre and [...]
Britain’s biggest companies call on Westminster for fundamental business rates reform September 16, 2014 Some of Britain's biggest businesses including Marks & Spencer, Sainsbury's, Tesco, General Motors and Tata Steel have called on the government to rip up the current business rate regime claiming the current system is “a critical problem for all of British business”. The controversial tax delivers around £25bn to the Treasury every year, but [...]