Food delivery apps serve up extra £400m in restaurant revenue December 2, 2019 Food delivery apps such as Deliveroo, Just Eat and Uber Eats are serving up an extra £400m in revenue for European restaurants, according to a new report. Third-party platforms, that customers can use to order food from a variety of restaurants, have also increased profit across the Europe’s restaurant sector, with venues in London seeing [...]
Focus on Lewisham: New social scene sparks interest from first-time buyers November 29, 2019 One might assume there is something in the water in Lewisham. Although it is a relatively unassuming corner of South East London, it has been the birthplace of a wealth of musical talent: Cream drummer Ginger Baker, Rolling Stones bassist Bill Wyman and Sex Pistols frontman Sid Vicious were all born there. The town’s own [...]
Rodrigues: The Indian Ocean’s hidden paradise November 29, 2019 Walking into Rodrigues’ Reserve François Leguat is one of those wild moments that will stay with you forever. As you enter a deep, green valley, you’re greeted by dozens of giant tortoises, which amble amiably towards you, ponderously dragging their massive bulk across the grass in the hope you’ll toss them a lime. They are [...]
Asian expansion boosts Fortnum & Mason sales growth November 29, 2019 London luxury food retailer Fortnum & Mason has reported double-digit sales growth in its full-year results, boosted by the company’s global expansion. Sales across the business increased 12 per cent to £138m, while profits soared 26 per cent, driven by growth in Hong Kong and Japan where sales grew 16 and 28 per cent respectively. [...]
Troubled burrito bond chain Chilango postpones AGM amid questions over future November 26, 2019 Chilango has postponed its annual general meeting (AGM) amid continued questions over the burrito chain’s future, City A.M. can reveal. The Mexican restaurant group is in talks with restructuring firm RSM to secure its long-term future, and is almost eight weeks late posting its accounts to Companies House. Read more: FCA to ban marketing of [...]
Mobile network Three scraps rewards offering Wuntu November 25, 2019 Telecoms giant Three UK has scrapped its rewards programme for customers, three years after it launched. Wuntu, which was available to all Three users, will shut down on 15 December. Akin to rivals such as O2’s Priority and Veryme Rewards by Vodafone, Wuntu offered users perks such as restaurants and cinema discounts and free taster [...]
The Restaurant Group shares fall as Wagamama reports slowing growth November 25, 2019 Wagamama owner The Restaurant Group suffered a share price drop this morning after the Asian fusion chain reported slowing sales growth in the second quarter. Like-for-like sales growth was 6.3 per cent in the UK, less than half the 12.9 per cent growth reported in the first quarter of the year. Read more: The Restaurant [...]
Cake Box shares soar on rising profits as retailer whips up a storm November 25, 2019 Cake Box, the specialist seller of cream cakes, has enjoyed a rise in profits of more than a quarter in the first six months of the year. Shares in the retailer jumped seven per cent this morning, as it reported rising revenue on the back of nine new store openings during the period. Read more: [...]
Food for thought: How Tastecard is helping the restaurant sector November 25, 2019 The restaurant sector is in a crisis. A combination of rising rents, food prices and wage costs, plus a decline in consumer spending, is causing more businesses to close. Research published in September exposed the scale of the problem. According to accountancy firm UHY Hacker Young, the number of restaurants closing in the year to [...]
Bounce owner raises $20m for US expansion November 24, 2019 Social Entertainment Ventures (SEV), the owner of Bounce, Flight Club and Puttshack, has raised $20m to drive the expansion of its leisure brands across the US. The company will accelerate the roll-out of Flight Club, a darts bar concept, across the US, with its second venue set to open in Boston next month. Read more: [...]