Pyrex maker files for US bankruptcy after inflation and high rates batter sales Pyrex The maker of Pyrex and Instant Pot has filed for Chapter 11 bankruptcy as dwindling sales and high inflation have battered the business. Instant Brands, which is US owned, is said to have much as $1bn (£790m) in liabilities. Instant Brand, which trades in John Lewis and Argos for upwards of £180, was impacted by [...]
Yo! Sushi owner sold to Japanese food giant in £500m deal Yo! Sushi The business behind restaurant chain Yo! Sushi has been bought by one of Japan’s biggest food companies in a deal worth almost half a billion pounds. Mayfair Equity Partners said it sold its stake in Snowfox Group to Zensho Holdings for $621m (£494m). The deal sees the Japanese giant gain a company which owns several [...]
I’m sorry but the internet is at it again. The real reason OnlyFans users are posting unsolvable riddles on TikTok internet culture The internet has been at it again. The lucrative sliver of Venn diagram between OnlyFans and TikTok has figured out that posting nonsense pseudo-riddles is a great way of amplifying engagement. Now there are loads of them, including the one explained below. As I bravely reported a few weeks ago, a (presumably) 26-year-old nursing assistant [...]
YO! Sushi owner scouting for potential buyout bidders as IPO talks swirl November 16, 2021 YO! Sushi owner Snowfox Group has reportedly asked advisers to look into potential bidders following a series of advances. The Japanese food group is looking to jumpstart takeover talks, Sky News first reported, as talks of going public swirl. Mayfair Equity Partners, the group’s majority shareholder, has been exploring a potential initial public offering (IPO) [...]
YO! food chain to partner with WH Smith as high streets reopen April 12, 2021 Asian food chain YO! is set to trial a partnership with WH Smith this month, bringing to-go food to stores as high streets begin to reopen today. The move signals the food group’s expansion into on-the-go food and away from sit-in dining, as it also has similar partnerships with Sainsbury’s, Co-op, Tesco’s and David Lloyd Leisure [...]
Losses at top 100 restaurant groups rocket 112 per cent to £571m February 8, 2021 Losses at the top 100 UK restaurant groups increased 112 per cent to £517m last year, rising from reported losses of £269m at the end of last month. According to UHY Hacker Young, the losses are expected to continue, as restaurants have been forced to shut again because of the latest coronavirus restrictions. UK Hospitality, [...]
Healthy fast food chain Leon explores restructuring options November 23, 2020 Healthy fast food chain Leon is reportedly drawing up plans for an insolvency arrangement to allow it to secure rent cuts from its landlords. The firm is working on proposals for a company voluntary arrangement, and has hired advisors to help with the plans, Sky News reported. The proposals, which are likely to involve seeking [...]
Food waste startup Too Good To Go gobbles up €6m from investors February 5, 2019 Danish leftover food startup Too Good To Go has grabbed €6m (£5.3m) from some of its existing investors, as it prepares to expand into four new countries in 2019. The firm, which enables users to collect leftover dishes from restaurants and stores at discounted prices, has partnered with 1,500 retailers in London to date, including [...]
Productivity lessons from the procrastinator Prime Minister December 17, 2018 Can we assume, given that you’re reading this section of the paper, that you are currently delaying doing something you really ought to be focusing on? I don’t mean to lecture you. I myself currently have an Oliver Spencer tab or two open on my browser. I spent most of last Wednesday Googling the viability [...]
Bristol ‘virtual touch’ firm raises £35m December 3, 2018 Virtual touch technology company Ultrahaptics has raised £35m in a new funding round and brought in a major new backer. The University of Bristol spin-off has developed technology that projects the feeling of an object like a switch or a knob into a users’ hand. This is done by speakers sending out sound waves from black [...]