Restaurant Group shareholders voice anger over £600m Wagamama price tag November 20, 2018 Nervous investors have raised concerns over the price of the Restaurant Group’s (TRG) proposed £600m acquisition of Wagamama as a major shareholder announced its intention to vote against the deal. Columbia Threadneedle, which owns 7.7 per cent of TRG, will oppose the proposal at a shareholder vote next week, it announced today. Frankie and Benny’s owner [...]
British takeaways call for rent holidays as coronavirus puts businesses ‘on the brink’ March 22, 2020 British restaurants and takeaways have urged retail landlords to grant rent holidays as they battle to survive during the coronavirus outbreak. The British Takeaway Campaign (BTC), which represents restaurants, takeaways and small businesses in the supply chain, called for an immediate three-month freeze on rent ahead of quarterly payments due next week. The group warned [...]
Restaurant bosses call for VAT cut as dining out sector braces for difficult return to business June 16, 2020 Restaurant industry bosses have today urged Boris Johnson to take drastic action, including slashing VAT on the food they serve, to help the struggling sector survive the effects of coronavirus. In a letter signed by the bosses of 90 major chains, Deliveroo founder Will Shu said that the government should also extend its job retention [...]
Pizza Express draws up plans to close 75 restaurants July 16, 2020 Pizza Express is drawing up plans to close up to 75 restaurants around the UK as the pizza chain undergoes a wide-scale financial restructure as a result of the coronavirus crisis. The company is mulling the closure of “around 75” of its 470 UK outlets through a company voluntary arrangement (CVA), Pizza Express said today. [...]
The rise of the vegans: Where to get your plant-based meat this January January 14, 2020 Whether you’re flexitarian, vegetarian, vegan or something in between, you’ll want to sample these meatless marvels. Now available everywhere. Greggs Vegan Steak Bake The rampant veganisation of Greggs continues apace with the lauch of a plant-based alternative to its most popular menu item. The vegan steak bake employs Quorn chunks in a rich onion gravy, [...]
Eat Out to Help Out: What happens when the restaurant discount scheme ends? August 26, 2020 Queues formed outside restaurants and reservations were booked up weeks in advance as Brits ventured out of lockdown to make the most of discounted meals this month. More than 64m meals have been claimed using the government’s offer to cover half the bill during August, with restaurants toasting a much needed pick-up in sales after [...]
Coronavirus: Supermarkets rebound but leisure stocks suffer March 13, 2020 Supermarket stocks made gains this morning after being dragged down by a mass FTSE 100 sell off sparked by mounting coronavirus fears. Sainsbury’s share price jumped 8.02 per cent to 188.97p, Tesco was up 10.46 per cent at 233.3p and Morrisons climbed 7.98 per cent to 178p. Grocers are positioned well to ride out the [...]
Eat it up: Chiquito owner’s share price sinks as it confirms £559m Wagamama takeover October 30, 2018 Frankie & Benny's owner The Restaurant Group (TRG) saw its shares crash by almost 18 per cent in early trading today, as it launched a takeover approach for Wagamama. TRG has agreed to buy the holding company behind the pan-Asian restaurant chain, Mabel Topco, for a cash sum of £357m, saying it represents an enterprise [...]
City Moves for 9 March — Who’s switching jobs at Quintet, Leo Burnett and R3? March 9, 2020 Today’s City Moves includes Quintet, Leo Burnett and R3 Quintet Quintet Private Bank has announced the promotion of Rachel Macfarlane to group head of legal, with immediate effect. Macfarlane joined Brown Shipley in 2018 with responsibility for legal, corporate secretarial and corporate governance work. Prior to that, she served as legal manager at Santander UK [...]
Sushi stalwart Itsu posts loss as it eyes expansion in the US September 29, 2019 Sushi chain Itsu fell to a pre-tax loss of £6m last year as stronger sales were offset by expansion in the US. The British food chain, which was founded by Pret a Manger tycoon Julian Metcalfe, pulled in revenue of £116m, up nine per cent on the previous year. Read more: Restaurant insolvencies jump by [...]