Richoux shares drop as restaurant group raises extra funds August 29, 2018 Restaurant group Richoux has announced a plan to raise £1.1m through a share subscription as it faces "continued pressure" from headwinds in the casual dining industry. Shares in the Aim-listed company dropped more than 14 per cent in early trading after the announcement. The group, which also includes the brands Villagio, Friendly Phil's, Zintino and [...]
The Gym Group flexes its muscles with strong expansion and member growth August 29, 2018 Budget gym operator The Gym Group reported another strong period this morning, as membership numbers soar in line with expansion. The figures With six new openings and a string of 13 easyGym sites acquired just after the period end, the total number of gyms reached 147. The group's rapid expansion saw member numbers jump to 720,000, [...]
Tiffany’s unveils higher than expected sales and profits August 28, 2018 Iconic jeweller Tiffany & Co. reported better than expected sales and profit growth today, with higher sales across all products and several geographies. The figures Worlwdwide net sales rose 12 per cent to $1.1bn (£850m) in the second quarter, while net earnings were up 26 per cent to $145m. This was driven by a particularly [...]
Bunzl boosts profit and announces push into Norway August 28, 2018 FTSE 100-listed distribution group Bunzl posted a four per cent increase in half-year profit today as it announced an acquisition in Norway, its first in the country. The outsourcing and distribution business, now with operations in 31 countries, grew adjusted profit before tax to £257.9m, while revenue grew five per cent to £4.343bn. Read more: Bunzl [...]
Exclusive: Banking groups Investec and SC Lowy move to rescue Gaucho after buying up debt August 24, 2018 Two banking groups are closing in on an acquisition of Gaucho after buying out debt from the collapsed restaurant chain's other lenders, City A.M. understands. Investec and Hong Kong-based SC Lowy are now moving to buy Gaucho from administrators Deloitte after buying the debt of other lending banks in Gaucho's syndicate. An Investec spokesperson told City A.M.: "Investec [...]
Luke Johnson still ‘optimistic’ on leisure sector after selling stake in restaurant group Ego August 22, 2018 Veteran restaurant investor Luke Johnson has said he is still "optimistic" about the leisure sector despite recent high-profile failures. His comments came after it was confirmed that he has sold his stake in 3Sixty, the parent company of 17-strong restaurant chain Ego, to hospitality behemoth Mitchells and Butlers for what he told City A.M. was [...]
Yo! Sushi eyes opportunities for supermarket growth after acquisitions August 21, 2018 Yo! Sushi increased sales last year ahead of two major acquisitions which could see the company expand into the grocery sector this year. The Japanese restaurant chain reported a 1.7 per cent uptick in total sales to £89.9m for the year to 27 November. This included a four per cent rise on a like-for-like basis, driven by the strength [...]
The Urbanologie app shows you how to live the high life like a globe-trotter August 17, 2018 Picture this. You’re on holiday in an exotic locale, travel guide in hand – probably one produced by a big brand like Lonely Planet or some other pocket guide. The pages are dog-eared from where you’ve bookmarked all of the things you want to see and do. But half the time, the recommendations made by [...]
Jinjuu, Soho, London review: Judy Joo’s Korean restaurant is a mixture of fusion food and to-die-for desserts | City A.M. August 6, 2018 JinJuu 15 Kingly St, W1B WHAT AND WHERE? Jinjuu – meaning pearl – is the food baby of Korean-American TV chef Judy Joo. She quit a high-flying career as an investment banker to do some hard graft in the kitchen of Gordon Ramsay’s empire before breaking out on her own as the host of Food [...]
New homes: Here are the new developments going on sale in London this weekend | City A.M. July 27, 2018 Our pick of the new developments on sale now Bishops Gate, Fulham From £625,000 A gated mews development next to Bishop’s Park is on sale, with a three bedroom duplex apartment for prospective buyers to peruse. The nine hectare green space is home to Fulham Palace, tennis courts and gardens and is also the setting [...]