Creditors approve plan to close 42 Homebase stores August 31, 2018 Creditors have thrown DIY store Homebase a lifeline and approved the closure of 42 stores and rent cuts on several others. At a meeting held today in London, creditors passed the proposals with 95.9 per cent voting in favour. Damian McGloughlin, chief executive of Homebase, said: “We are pleased that an overwhelming majority of our creditors, [...]
Costa sold to Coca-Cola: Here’s how the City reacted August 31, 2018 Coca-Cola is buying Britain's biggest coffee chain Costa in a deal valued at a whopping £4bn. Following this morning's surprise announcement, City analysts were quick to react. The high price paid, the opportunities for expansion, and the future of Whitbread all came under the microscope. Here's a few of the talking points. A coffee battle [...]
Coca-Cola scoops up Costa August 31, 2018 | City Talk For some time Whitbread CEO Allison Brittain has swatted aside speculation that the company should divest itself of its Costa coffee business saying that it didn’t make sense to do so in the middle of a restructuring program. In April she bowed to investor pressure but said that the process could take up to two [...]
Coco Cola scoops up Costa August 31, 2018 | City Talk For some time Whitbread CEO Allison Brittain has swatted aside speculation that the company should divest itself of its Costa Coffee business saying that it didn’t make sense to do so in the middle of a restructuring program. In April she bowed to investor pressure but said that the process could take up to two [...]
Red tape for Red Bull: The ban-happy nanny state is coming for energy drinks August 31, 2018 I don’t remember the last time I saw a six-year-old queuing for a cappuccino in Pret. Nor have I ever noticed one standing in line, with their own cash, paying for their fizzy drink of choice over the counter at corner shop. That’s because realistically these instances cannot happen without the assistance of an adult, who [...]
Sales down again for Frankie & Benny’s owner The Restaurant Group but share price rises August 31, 2018 Frankie & Benny's owner The Restaurant Group reported another slip in sales this morning, as this year's changeable weather deterred punters from eating out. But shares in the company were up 3.8 per cent in early trading as it flagged improved trading since the end of the first half of the year. The figures Like-for-like [...]
Caffeine high: Coca-Cola to buy Costa from Whitbread in £4bn transaction August 31, 2018 Coca-Cola is set to buy high street coffee chain Costa for £3.9bn. The fizzy drink giant wants to add coffee to its drink line up, and has moved for Costa following owner Whitbread’s announcement earlier this year that it intends to spin the hot drink business off. Whitbread, which bought the chain for just £19m [...]
Two in five Londoners have seen a favourite restaurant shut down this year August 30, 2018 Two in five Londoners say they have seen a favourite local restaurant shut down this year, as high costs hit the industry hard. According to food tech startup GoKart, 43 per cent of adults in London have seen a favourite eatery close in the past year. This is higher than the national average of 37 [...]
Seven of Brewdog’s weirdest publicity stunts as it pledges to end ‘shock tactics’ August 30, 2018 Brewdog may have made its name off the back of a bizarre series of publicity stunts, but the indie brewer has pledged to “focus more on beer” and drop the “high octane shock tactics”. Following backlash to its parody porn website earlier this week, Brewdog posted a message to fans and shareholders on its website [...]
WH Smith trading update: Airport sales keeps retailer’s shares aloft August 30, 2018 Airport passengers shopping for a holiday read helped boost WH Smith in the 12 months to the end of August, it said today, as it delivered a trading update on its full-year results. The retailer, voted the UK’s worst high street store earlier this summer, teased its latest results ahead of their official release on [...]