UK’s Tortilla Mexican food chain valued at £70m as it prices shares ahead of IPO September 30, 2021 Mexican fast food chain Tortilla has been valued at £70m after pricing its shares in the region of expectations ahead of its debut on London’s Aim market. Tortilla priced its shares at 181 pence per share, less than a week after it announced its intention to float on the London stock exchange. The restaurant brand [...]
Who’s next? Retail boss Simon Wolfson urges Government to learn lessons of truck driver shortage September 29, 2021 Next boss Lord Wolfson has urged ministers to relax immigration rules to alleviate a crisis in “warehouses, restaurants, hotels, care homes and many seasonal industries.” The retail titan said that the current shortage of truck drivers was “foreseen, and widely predicted” and said Government needed to learn from its failure to act. The firm upgraded [...]
High Court dismisses challenge by Caffè Nero landlord September 29, 2021 The High Court has dismissed a challenge from one of Caffè Nero’s landlord’s over the company’s restructuring. After Covid hammered the coffee chain’s trade, it sought approval to enter a company voluntary arrangement (CVA) with the support of more than 90 per cent of its creditors. A small number of landlords were not happy with [...]
Franco Manca operator Fulham Shore beats expectations in H1 2021 September 29, 2021 The operator of Franco Manca and The Real Greek beat expectations for the first half of 2021 despite the challenge of ongoing Covid restrictions. The restaurant operator faced tough conditions during the first half of the financial year, which began on 29 March 2021 during the UK’s third COVID-19 lockdown, and was forced to trade [...]
Next hikes full-year outlook again after sales surge and profits swell to £347m September 29, 2021 Fashion giant Next has hiked its full-year outlook once more after surging sales, but warned over rising prices and staff shortages in the run-up to Christmas. It said supply chain woes had seen higher freight costs push up prices by about 2 per cent in the first half and cautioned this would continue into next [...]
Brexit-backing Next boss calls for speedy government intervention in staff crisis September 29, 2021 Next, headed by Brexit-backing boss Lord Wolfson, has called on the government to relax immigration rules to ensure its operations run smoothly this Christmas. “It’s a question of availability, we need a system that’s geared up to give more visas,” Wolfson told CityAM. Wolfson hit back at critics who said the country had got what [...]
Franco Manca operator Fulham Shore beats expectations in H1 2021 : CityAM September 29, 2021 The operator of Franco Manca and The Real Greek beat expectations for the first half of 2021 despite the challenge of ongoing Covid restrictions. The restaurant operator faced tough conditions during the first half of the financial year, which began on 29 March 2021 during the UK’s third COVID-19 lockdown, and was forced to trade [...]
Hospitality operators pessimistic of any staff shortage resolution September 29, 2021 Restaurant bosses have complained that ministers are actively choosing not to intervene in staff shortage issues with immigration changes and instead are focusing on longer-term training plans. Sector leaders – including Nando’s boss Colin Hill and UK Hospitality CEO Kate Nicholls – will form a new hospitality council, business minister Paul Scully announced today. The [...]
Aviva Investors has big plans for its newly acquired Hoxton office September 28, 2021 Aviva Investors has snapped up a Grade II listed property in Hoxton as part of the first investment made by the company’s newly launched climate fund. The investment arm of Aviva has today announced its purchase of Curtain House, a five storey Victorian warehouse in the heart of Shoreditch, London’s hub for technology businesses and [...]
Exclusive: Pivotal months ahead for London’s revival as tourism top dog September 28, 2021 While coastal staycations have been in high demand during the summer months, the capital is poised to bounce back as the go-to destination of choice for many domestic tourists as the nights draw in and the temperature drops. Just 6 per cent of people would opt for a trip to London over a coastal location [...]