Morrisons owner CD&R eyes £2.5bn takeovers of facilities management titans May 17, 2022 Morrison private equity owner is reportedly planning to snap up and merge two facilities management firms. Clayton Dubilier & Rice (CD&R) is in discussions to buy significant stakes in Atalian Servest and OCS, Sky News reported. Last year, the New York-based private equity firm clinched a £7bn deal to takeover the grocer Morrisons. The deals [...]
McDonald’s to launch on Deliveroo as app seeks to be ‘definitive’ online food firm May 17, 2022 Hungry Londoners will be able to order McDonald’s through the Deliveroo app in the coming weeks as the firms forge a UK partnership. The fast food titan will join the restaurants listed on Deliveroo in the UK during the second quarter of 2022. It comes after McDonald’s yesterday revealed it was injecting £250m into redesigning [...]
Shoe Zone walks the walk with revenue making a steady comeback May 17, 2022 Budget shoe shop Shoe Zone announced a strong comeback this morning, with revenue up 73 per cent in the last quarter to £69.9m.
Tesco to increase payments to pig farmers by £6.6m amid ‘unprecedented costs’ May 16, 2022 Supermarket giant Tesco has announced it will increase payments to pig farmers by £6.6m, as the industry faces price hikes for wheat and soya. Total support for Tesco farmers will stand at £10m since March, as the farming sector faces staggering commodity price inflation. Feed prices have shot up since Russia’s invasion of Ukraine earlier [...]
Uber brings subscription service Uber One to the UK later this month May 16, 2022 Uber has announced it will bring its subscription service Uber One to the UK later this month. Established to rival the likes of Deliveroo Plus and Amazon Prime’s food delivery services, Uber One will give customers free delivery on Uber Eats as well as discounts on rides. “We know users across our platform have been [...]
Closing down: McDonald’s starts removing golden arches across Russia as its 850 restaurants are up for sale May 16, 2022 McDonald’s has become the latest major western corporation to exit Russia since it invaded Ukraine in February, as the burger chain confirmed this morning it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people. The fast food giant pointed to the humanitarian crisis caused by the war, [...]
Here’s a tip: Hospitality bosses call for movement on service charge protections amid labour crunch May 16, 2022 As the hospitality industry faces a labour crunch threatening to bring it to its knees, bosses have said legislation to protect workers’ tips could help freshen its image. Ministers have promised legal protections for employees’ tips since 2016. In a further blow, the Employment Bill, set to contain this framework, was scrapped from the Queen’s [...]
Delivery design: McDonald’s to inject £250m into upgrading venues to cater for online orders May 16, 2022 McDonald’s has announced it is pumping more than £250m into redesigning its restaurants in the UK and Ireland, to dedicate more space to online orders. In a four-year upgrade scheme titled ‘Convenience of the Future’, the fast food titan said it will seek to provide diners with an even speedier experience. Some 200 restaurants across [...]
From Boxpark to Punch Pubs: Cash influx for leisure sector as UK private equity deals double in just one year May 16, 2022 The number of UK private equity deals for companies in the leisure sector has more than doubled from 12 to 26 in the past year, according to research by one of the City’s biggest law firms. Private equity funds are taking the opportunity to pick up assets at comparatively low prices ahead of the leisure [...]
Made.com slashes 2022 outlook amid ‘tough trading environment’ May 16, 2022 Lifestyle brand Made.com lowered its expectations for the rest of 2022, with both gross sales and revenue expected to drop 15 per cent and seven per cent respectively.