Greene King hit by drink-driving rules in Scotland May 5, 2015 Pub and restaurant group Greene King yesterday blamed recently tightened drink-driving laws in Scotland for flat sales. The company, whose brands include Old Speckled Hen and Abbot Ale, plus the Hungry Horse and Loch Fyne chains, reported just a 0.4 per cent increase in sales for the 51 weeks to 26 April, but said sales [...]
Pub chain shares battered after MP vote to end beer tie: Enterprise Inns, Punch Taverns suffer November 19, 2014 Shares in pub chains plummeted after MPs voted to let landlords buy their beer on the open market, as investors heeded industry warnings that the legislation would have a "hugely damaging" effect. Enterprise Inns led the fall, losing 15.3 per cent in mid-morning trade. Punch Taverns also shed 12. 5 per cent. Shares in Marston's and [...]
Not pleased as Punch: Pub group share price plummets as restructure completes October 8, 2014 Punch Taverns' share price plummeted more than seven per cent today, a 21-month low, after its much-anticipated restructure finally happened. The pub group has cancelled £600m-worth of debts after it was given the go-ahead to restructure by the Royal Bank of Scotland yesterday. The debt-for-equity deal will result in shareholders retaining just 15 [...]
Spirit pubs selling more pints September 3, 2014 SPIRIT Pub Company’s like-for-like sales were ahead of the market in the fourth quarter as value-for-money deals attracted more customers to its franchises, boosting full-year expectations. Shares in the company, which was split from Punch Taverns in 2011, closed up 1.3 per cent. Like-for-like sales rose 2.1 per cent at managed pubs in the 12 [...]
Greene King ups bid for Spirit Pubs to 109.5 pence per share October 20, 2014 Brewing giant Greene King has upped its bid for pub chain Spirit Pubs after its previous offer was rebuffed. The maker of ales such Old Speckled Hen and Abbot Ale is offering 109.5 pence per share for its 750 managed and 450 leased pubs, comprising 0.1322 Greene King shares and a cash payment of eight [...]
With austerity the name of the game, should the UK’s public sector be holding onto £3.5bn-worth of art? September 4, 2015 Nobody begrudges the public sector owning a certain amount of art. However, the size of the collection is itself staggering. TaxPayers’ Alliance research released today shows that it consists of some eight million pieces, worth more than £3.5bn, with local authorities alone owning more than two million pieces. Most concerning, however, is that [...]
Jerky Group and Cruga form beef snacks empire August 4, 2015 THE JERKY Group has merged with biltong and meat snacks-maker Cruga to create the largest beef snack manufacturer in Europe with combined turnover of around £12m. Founded in 2000, The Jerky Group’s brands include Wild West Jerky, Hogbites pork crackling and BullOx Biltong. It also produces Dragon’s Den entrepreneur Joe Walters’ beef jerky brand Texas [...]
Budget 2016: George Osborne’s speech in full March 16, 2016 George Osborne has just revealed the Budget for 2016. There was good news for businesses with corporation tax being sliced and business rates being reformed – but bad news for smokers and students who hate maths. Mr Deputy Speaker, Today I report on an economy set to grow faster than any other major advanced economy in [...]
Pub group Mitchells & Butlers faces “huge fine”, landlady and chef face jail time, over “toxic turkey” Christmas lunch death November 26, 2014 Pub group Mitchells & Butlers – which owns the All Bar One and O'Neill's chains – faces a huge fine, while a landlady and her chef could serve jail time after a woman died from eating toxic turkey at an Essex pub. Della Callagher died and 32 other diners became seriously ill after eating [...]
The Jerky Group and Cruga merge to create £24m beef snacks empire August 3, 2015 The Jerky Group has struck a deal to merge with biltong and meat snacks-maker Cruga to create the largest beef snack manufacturer in Europe with a combined turnover of around £12m. Founded in 2000, The Jerky Group’s brands include Wild West Jerky, Hogbites pork crackling and BullOx Biltong. It also produces Dragon’ Den entrepreneur Joe Walters’ [...]