Creditors approve Giraffe and Ed’s Easy Diner CVA March 21, 2019 The operator of Giraffe and Ed’s Easy Diner has been given the green light for store closures today, as creditors voted through a major restructuring plan that puts hundreds of jobs at risk. Giraffe Concepts Limited, which gained the 75 per cent approval it needed from creditors in a vote this afternoon, is now set to [...]
Wildwood restaurant owner Tasty shares plunge as it warns further site closures on the way March 20, 2019 Shares in Wildwood restaurant owner Tasty plunged this morning as the company warned that it may be forced to make further closures this year after shuttering eight underperforming sites. The figures Shares plummeted more than 17 per cent as the restaurant group posted dismal full-year results for 2018, blaming challenges in the casual dining sector as [...]
Thin Cats launches £100m funding programme for private equity backed SMEs March 18, 2019 Fintech lender Thin Cats has launched a £100m funding programme for private equity backed small and medium businesses in the UK. The loan provider is aiming to help private equity backed companies fund larger sized deals up to £15m. Read more: Oneweb lands $1.25bn in funding after successful satellite launch Recently the firm has provided [...]
Patisserie Valerie overstated financial position by £94m, auditors say March 16, 2019 The amount of money missing from Patissserie Valerie's consolidated accounts has grown to more than double a previous estimate to a total of £94m, according to a new report by its administrators, KPMG. The company fell into administration in January and was found to have overstated its financial position by £30m while also failing to disclose £10m of overdrafts. Read [...]
Focus On Clapham: Commons, good schools and cosy gastropubs means families stay put in SW4 March 15, 2019 The appeal of living in Clapham is clear for all to see. It has great transport connections along the Northern Line and Clapham Junction – one of the most well-connected stations in the UK – , particularly for south London. It’s better value for money than its north-of-the-river counterparts. The 220-acre Clapham Common is all [...]
New homes: Our pick of the new builds going on sale in London this weekend March 15, 2019 New developments on the market this week Boat Race House, Barnes From £485,000 Enjoy a prime view of the finishing line of the Boat Race in the comfort of your own home at this new riverside development. As well as a view of the Thames, buyers of these new homes will be guaranteed private outdoor [...]
Profits fall at The Restaurant Group after £559m Wagamama merger March 15, 2019 The Restaurant Group has posted a drop in profits for last year as well as warning of falling like-for-like sales, but said its controversial takeover of Wagamama will prove “transformative”. Read more: Like-for-like sales fall at The Restaurant Group despite Wagamama boost The figures Adjusted profit before tax slipped eight per cent year on year [...]
Bank of England takes action over Visa card payment outage March 8, 2019 The Bank of England (BoE) has taken action against Visa following an outage last year that caused more than 2m card transactions to fail. The BoE has announced supervisory action to ensure that Visa Europe enforces the recommendations made following an independent review by EY in the wake of the incident. Read more: TSB online [...]
Schroders profits fall 15 per cent on weak investor sentiment March 7, 2019 Schroders saw profit drop 15 per cent last year as the asset management giant was hit by weaker investor sentiment due to political and economic uncertainty. The figures Profit before tax fell 15 per cent to £649.9m from £760.2m in the 12 months to the end of December last year. Read more: Schroders and Lloyds [...]
Just Eat shares fall on 2019 outlook despite jumps in profit and revenue March 6, 2019 Just Eat scored huge boosts to profit and revenue in 2018 to relieve shareholder pressure to merge with a rival, it revealed today, but warned losses will impact 2019 earnings. The figures Profit before tax rose to £101.7m after a loss of £76m in 2017. Revenue rose 43 per cent year on year to £779.5m, [...]