Franco Manca and Real Greek owner slumps to £14m loss as boss quits Hospitality The owner of Franco Manca and Real Greek slumped to a £14m loss shortly after it its boss quit in the wake of a swathe of restaurant closures. Private equity firm Fulham Shore was hit by a £14.2m loss before tax in the year to March 2025, Companies House filings have revealed, nearly triple its [...]
Struggling Pizza Hut snapped up by private equity in $2.7bn deal Hospitality Struggling restaurant chain Pizza Hut is set to be offloaded to private equity by its owner Yum Brands in a $2.7bn deal. Most of the pizza giant’s global operations will be sold to Long Range Capital just months after 250 restaurants were put on the chopping block. Pizza Hut’s locations in mainland China are excluded [...]
Franco Manca shuts 16 restaurants, blaming ‘disproportionate’ taxes Hospitality Franco Manca has taken aim at “disproportionately high” taxes facing the hospitality sector after the pizza parlour shut 16 restaurants in a structural overhaul. The privately-owned restaurant chain said it is suffering from high VAT and “significant” hikes to national insurance and minimum wages, with the site closures to cost hundreds of jobs. The move [...]
Turtle Bay: Founder criticises ‘unhelpful’ Reeves’ tax raid after huge loss January 13, 2026 Caribbean restaurant and bar chain Turtle Bay has hit out at the “unhelpful” Labour government whose tax “raid” contributed to it slumping into the red. The Bristol-headquartered business, which was set up in 2010 by Ajith Jaya-Wickrema and Stephen Entwistle, cited Chancellor Rachel Reeves’ increase in employers’ National Insurance as a reason for it falling to [...]
Loungers creates 900 jobs as major expansion plans continue January 12, 2026 Cafe-bar and restaurant chain Loungers created more than 900 jobs in the year it quit the London Stock Exchange’s AIM, it has been revealed. The Bristol-headquartered business delisted in February last year after being acquired by Fortress Investment Group for £338m. The Cosy Club and Brightside owner was founded in 2002 by Alex Reilley, David Reid [...]
Jamie Oliver ‘cutting jobs’ ahead of restaurant chain’s return December 12, 2025 A part of Jamie Oliver’s business empire has cut a firth of its workforce, according to reports, as the celebrity chef plans a return to the high street next year. Jamie Oliver Group has shed 25 of its 126 employees through a redundancy round, Sky News has reported. City AM has contacted the group for [...]
Leon to close sites and cut jobs as it enters administration December 10, 2025 Fast-food chain Leon is set to enter administration, close a number of locations and cut jobs as part of a bid by its new owner to turn around the struggling chain. The company was bought back by co-founder John Vincent last month from Asda in a deal reported to be between £30m and £50m, well [...]
Jamie Oliver to bring back Jamie’s Italian in the UK next year December 5, 2025 Celebrity chef Jamie Oliver is to relaunch his restaurant chain in the UK in 2026, seven years after its dramatic collapse. Jamie’s Italian is to be relaunched after a deal was reached between Oliver and Cain International-backed Brava Hospitality Group, which owns Prezzo. The chain operated around 40 sites across the UK at its height [...]
Nando’s makes cheeky profit after losing more than £600m November 24, 2025 Nando’s has warned Rachel Reeves’ tax hikes will eat into its bottom line despite it returning to profit for the first time since 2016. The business has posted a pre-tax profit of £38.2m for the 12 months to 23 February, 2025, new accounts filed with Companies House have revealed. The profit comes after the restaurant [...]
Robert De Niro: Nobu reveals major London plans amid UK push November 13, 2025 Robert De Niro’s hospitality brand is open to considering new luxury residences in London after the success of its restaurants and hotel, the firm’s co-founders have exclusively told City AM. Nobu Hospitality first launched in London in 1997 with a restaurant at Old Park Lane. That was followed by a hotel and restaurant in Portman [...]