Mexican fast food chain Tortilla poaches rival Chilango BURRITO CHAIN London listed restaurant group Tortilla has snapped up rival Chilango, as it seeks to reap the rewards of office workers returning to London. The Mexican fast food chain dished out £2.75m to buy Chilango from the investment firm RD Capital Partners , it announced on Monday. Chilango’s estate of eight UK sites – six of [...]
Tortilla weathers strikes and inflation as expansion drives 22 per cent revenue spike Retail Tortilla Mexican Grill revenues jumped 22 per cent year-on-year to £32.7m as the fast-casual group continued to expand its sites across the UK. The popular Mexican chain reported a slight dip in pre-tax earnings amid headwinds from inflation and rail strike action and swung to a £600,000 loss, down from £300,000 profit last year. However [...]
Tortilla swings to loss after ‘unprecedented’ food and energy inflation RETAIL Burrito chain Tortilla Mexican Grill has revealed it swung to a loss last year as it came under pressure from “unprecedented” food and energy costs, and avoided raising its prices above inflation. The fast-casual restaurant chain insisted its sales have benefited from consumers opting for value-for-money meals over dining out at restaurants. Its revenues jumped [...]
Exclusive: Bust burrito chain Chilango sold out of administration August 27, 2020 Burrito chain Chilango has today been sold out of administration after the Covid-19 pandemic finished off the already struggling business, City A.M. can reveal. The Mexican-themed fast-food chain told investors today that administrators RSM had secured a buyer for the business. RSM confirmed this afternoon the the chain had been sold to Investment group RD [...]
Exclusive: Stricken burrito chain Chilango set to enter administration July 22, 2020 Mexican restaurant chain Chilango is preparing to enter administration putting over 150 jobs at risk, after the coronavirus pandemic hammered the already struggling casual dining company. In an email sent to shareholders today, a spokesperson for the company said that while Chilango had “done our very best to mitigate the pandemic’s impact… these efforts have [...]
Tortilla Mexican Grill’s revenues shoot up by 60 per cent after snapping up rival but inflation and industry pressures bite July 18, 2022 A Mexican food giant experienced a big spike in revenue following a key acquisition and expansion across the UK. Tortilla Mexican Grill’s group revenue was up 60 per cent in the first half of 2022 compared to 2019. This comes after the firm bought out Chilango for £2.75m, taking on its eight sites across the [...]
Mexi-go-go: How Tortilla has turned burritos into big business January 9, 2023 Mexican restaurant chain Tortilla has revealed that sales jumped by a fifth over the past year despite the impact of train strikes and poor weather. Shares in the group rose on Monday morning after the 85-strong chain revealed that revenues grew 20% to £57.7 million over the 12 months to January 1, compared with the [...]
Tortilla anticipates shaved margins as protein prices spike October 3, 2022 Mexican fast-food chain Tortilla has warned it faces a hit to margins this year after meat prices have soared. Inflationary pressures would lead to a three percentage points reduction in gross margin for the 2022 financial year, to the tune of approximately £1.8m, Tortilla said on Monday. The restaurant brand pointed to a 40 per [...]
Exclusive: Questions over Chilango’s future after burrito chain calls in restructuring firm RSM November 14, 2019 Mexican chain Chilango, best known for its “Burrito Bonds”, is in talks to secure its long-term future with restructuring firm RSM and is more than six weeks late posting its accounts. City A.M. understands from a source familiar with the discussions that the firm is considering all options including administration or a company voluntary arrangement [...]
M&A quarterly transactions down as investors nervy amid war in Ukraine June 7, 2022 The number of merger and acquisition transactions in the UK has plunged in the first quarter of the year, versus the end of last year. According to fresh figures published by the Office for National Statistics, there were some 370 completed M&A deals in the first quarter of the year. This was a significant drop [...]