Prezzo share price reacts as bidders offer £316m for a slice of Italian food chain October 2, 2014 Italian high street restaurant chain Prezzo yesterday confirmed that it had received preliminary proposals for a potential takeover offer. Although Prezzo cautioned that any deal was unlikely to be at a premium to its closing price on Wednesday of 135p per share, or around £316m. Shares in Prezzo yesterday jumped as much as 11 per [...]
Punch founder in £37m Strada restaurant deal September 28, 2014 HUGH Osmond, the entrepreneur behind Pizza Express, Punch Taverns and the insurance group Pearl, has bought the Strada chain of Italian restaurants in a £37m deal. Sun Capital Partners, Osmond’s private equity vehicle, is buying the Strada brand and 43 restaurants from the Tragus Group in a deal announced yesterday. Osmond said his plan for [...]
Business hub London creates property boom September 25, 2014 PROPERTY FIRM of the year As London prices continue to rise, defying fears that the bubble is about to burst, property companies have seen a period of huge growth. Our shortlist, which was very tough to choose, includes companies such as the Berkeley Group and Workspace, which have seen their profits soar in the past [...]
Mitchells & Butlers blames poor weather for August sales slump September 25, 2014 PUBS AND restaurants group Mitchells & Butlers reported a slight 0.6 per cent rise in like-for-like full-year sales yesterday in a trading update, due to mixed performance over the summer. Mitchells & Butlers, whose chains include Harvester and All Bar One, said sales in July were boosted by the World Cup, but that damp weather [...]
Jade Jagger talks motherhood, design and building a matriarchal paradise in Ibiza September 23, 2014 Jade Jagger is tired. She yawns through much of our interview as she potters around her 16th century villa. Perhaps she just feels relaxed in her sleepy village in Ibiza, where she spends the summer with her family. Or maybe it’s only to be expected from this daughter of rock royalty, now an international [...]
I know what you’ll like next summer: How trend forecasting keeps the biggest brands on top September 23, 2014 Will you be gripped by a desire to own a pair of Birkenstocks at some point over the next 12 months? Need a mindfulness holiday retreat in 2016? What about a fridge that connects to the internet, maybe some time in the 2020s? Who knows, right? Well, someone probably does. An entire industry has grown [...]
Eating lunch at your desk again? Here’s how the City does delivery September 23, 2014 Eating al-desko isn’t just about showing your boss you’re the keenest worker-bee in the office. As winter draws nearer it’s also a way of eating your sandwiches without getting frost bite. The latest lunch-break craze in the City allows hungry employees to select, buy and eat their lunch without leaving their office at all. Delivery [...]
Galliford Try lands £360m development for 1,100 homes in east London September 15, 2014 Housebuilding and construction group Galliford Try has been chosen as the preferred developer by the Greater London Authority to build the Silvertown Way development. Located in Canning Town, East London with over 1,100 mixed tenure homes across 11 blocks, the gross development comes to a hefty £360m, ranking it as the largest standalone scheme Galliford [...]
JD Wetherspoon share price up as boss claims VAT “biggest danger to pubs” September 12, 2014 JD Wetherspoon has reported record sales and profit in its full-year results, yet founder and chairman Tim Martin has described the government's VAT on pubs as a danger to the industry. Shares in the company have risen 1.31 per cent in early morning trading. Profit before tax and after exceptional items was up [...]
West End landmark Trocadero to be turned into budget hotel September 11, 2014 THE TROCADERO in Piccadilly is to be given a makeover after Europe’s largest hotelier Accor announced yesterday it had struck a deal to turn the famous West End landmark into a budget three-star hotel. Owners Criterion Capital, run by property magnate Asif Aziz, have already begun work on redeveloping the building into a 583-room hotel, [...]