FRP Advisory reports dip in insolvency jobs as government measures stave off corporate collapses May 14, 2021 FRP Advisory reported a drop off in restructuring appointments in the last financial year as government financial aid protected many businesses from collapse during the Covid pandemic. The professional services firm, which plans to pay a dividend for the year, said the number of insolvency appointments it secured in the last 12 months was down [...]
Ex-CEO of Coca-Cola EU and founder of Café Rouge join Deliveroo’s board April 28, 2021 Deliveroo has confirmed a board shuffle today by hiring two new non-executive directors, to help keep up with its growing partnerships. Dominique Reiniche and Karen Jones are set to join the board, just as the company is to ramp up its online delivery capabilities with Waitrose. “They join at an important time for Deliveroo as [...]
Insolvencies fell to two-year low in February March 17, 2021 The number of company insolvencies last month stood at 686, the lowest monthly number recorded since January 2019. Figures released by the government’s Insolvency Service found the number of company insolvencies in February 2021 was 49 per cent lower than the same month in the previous year. February 2020 marked the month before the UK [...]
Westfield London owner posts €7.6bn loss after rent squeeze as UK tenants go bankrupt February 10, 2021 The shopping centre landlord that owns Westfield London, Stratford City and a swathe of similar mega-malls across Europe and the US has seen its like-for-like rental income drop 24 per cent.
Hospitality redundancies: How many restaurant and pub jobs have been lost during the pandemic? February 27, 2021 How many restaurant and pub jobs have been lost during the pandemic?
Private equity gets creative as it sits on record dry powder pile December 2, 2020 Private equity firms are having to get creative and look to new asset classes as they sit on record levels of dry powder. In the face of unprecedented market volatility GPs initially turned their attention to portfolio companies in the outbreak of the pandemic. But now fund managers are sitting on approximately $1.7 trillion of [...]
Us versus them will do nobody any good on the High Street January 14, 2021 While a new year symbolises a fresh start for many, you could be forgiven for thinking you had been planted in the film Groundhog Day but instead the calendar was stuck in 2020. Perhaps nowhere is this more the case than in the retail and hospitality industry, with Lord Sugar’s legal challenge to the planned [...]
Carluccio’s left on the brink as coronavirus threatens to cause permanent closures March 28, 2020 Italian restaurant chain Carluccio’s is in danger of collapse as it warned it was facing permanent branch closures. The company is working with administrators as the coronavirus pandemic takes its toll. Prime Minister Boris Johnson announced that all restaurants, among other public venues, were to shut indefinitely a week ago in a bid to control [...]
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. [...]
Has-beans? What Chilango’s CVA tells us about the struggling casual dining sector December 11, 2019 Mexican chain Chilango offers its customers a choice between three different types of salsa: mild, medium, or hot. Faced with those options, who chooses the middle one? This is – in a way – the conundrum facing the increasingly polarised casual dining sector. Nowadays, customers either want fast, cheap fuel, or they want a quality [...]