British winemaker Chapel Down grows revenue after record-breaking harvest May 30, 2019 British winemaker Chapel Down boosted revenue last year following a record-breaking harvest. The figures Group sales increased by 10 per cent overall, to £13m in the year to the end of December 2018. Sales of wine and spirits were up 11 per cent to £8.9m and beer and cider sales jumped by 10 per cent [...]
Gordon Ramsay’s restaurant empire returns to profit despite tough market conditions May 28, 2019 Celebrity chef Gordon Ramsay’s restaurant empire has returned to profit despite challenging conditions in the casual dining sector. Ramsay’s company made a pre-tax profit of £500,000 in the year to August 2018 after reporting a £3.8m loss in 2017 due to legal costs and the closure of its Plane Food branch at Heathrow, which lasted [...]
Top UK restaurants fall to £82m loss as casual dining sector feels the heat May 27, 2019 The UK’s top restaurant chains fell to a loss of £82m in the last year as they struggle to stay afloat in the increasingly competitive casual dining sector. The top 100 restaurant groups fell to the hefty loss in the year to the end of March, compared to a pre-tax profit of £102m the previous [...]
Will Amazon’s Deliveroo stake improve its luck in the UK? May 21, 2019 Online retail giant Amazon has made a large investment in food courier Deliveroo, taking a stake in the startup’s latest £450m fundraising round. Amazon has attempted to enter the food delivery market before with Amazon Restaurants UK, which was shut down last year. Amazon also runs Prime Pantry, a service allowing Prime members to order [...]
Around 1,000 jobs lost as Jamie Oliver’s restaurant business collapses May 21, 2019 Around 1,000 workers have been made redundant after celebrity chef Jamie Oliver's restaurant chain collapsed into administration following failed attempts to secure additional investment. Jamie's Italian has appointed KPMG as administrators, the company confirmed today, and 23 of the brand's 25 sites have closed. Read more: Shell's kitchen: Jamie Oliver launches petrol station food range HSBC, which is the company's main [...]
Shaftesbury boosts West End property revenue as showdown with major shareholder looms May 21, 2019 West End landlord Shaftesbury’s war of words with its largest shareholder hotted up today as it announced a 5.2 per cent revenue boost in its first-half results. The company is facing a potential £10m claim from its largest investor – Hong Kong billionaire Samuel Tak Lee. Lee, who owns approximately 26 per cent of the [...]
High spirits: City Pub Group cheers investors with sales rise as expansion continues May 20, 2019 The City Pub Group shareholders will this morning be toasting a rise in sales of more than one-third so far this year. Read more: City Pub Group shares rise as it returns to profit The pub operator, which runs 45 sites mainly in London, said sales were up 35 per cent on last year for [...]
Fast food chain Leon reports widening loss as rising costs hit margins May 19, 2019 Fast food chain Leon posted a record turnover of more than £65.2m last year but a third consecutive loss as it increases its UK footprint. The healthy food company has had a rapid rise in recent years, increasing its turnover by more than 15 per cent last year – from £56.3m in 2017 – [...]
Just Eat shares fall after Amazon leads $575m investment round in rival Deliveroo May 17, 2019 Just Eat shares fell eight per cent this morning after Amazon led a $575m (£450m) investment round in rival Deliveroo. Read more: Deliveroo to 'invest heavily' in London tech with Amazon's £450m Just Eat's shares dropped 8.3 per cent to 621p in early trading after the fund raising. Analysts at Peel Hunt said that the Amazon [...]
Amazon leads £450m Deliveroo funding round as startup expands London tech team May 17, 2019 Deliveroo today confirmed Amazon is leading a $575m (£450m) funding round in the food delivery business as it plans to expand its London engineering team with some of the cash. Read more: Amazon in talks to invest millions in Deliveroo The round, including money from existing investors T Rowe Price, Fidelity Management and Greenoaks, takes [...]