M&B to sell Hollywood Bowl for £39m August 9, 2010 PUBS and restaurants group Mitchells & Butlers (M&B) is selling its Hollywood Bowl ten-pin bowling business to AMF Bowling for £39m ($62m). Hollywood Bowl’s 24 sites will be added to its current 33 UK bowling centres. M&B is selling “non-core businesses” to focus on its pub businesses, which include Harvester, Toby Carvery, Vintage Inns and [...]
It pays to be the canary in the mine August 5, 2010 LONDONERS in search of rental bargains are getting wise to the fact that moving a few miles east into the Docklands gets you more space and higher specs for the same money. Rental prices in the Canary Wharf/Docklands area are on the up, but still offer better value than most other places within a short [...]
Get shirty with the tailor August 5, 2010 THE difference between an off-the-peg suit and one that’s been properly tailored is usually pretty easy to spot – the latter will have a better fit, smarter hang and finer structure at the very least. It’ll also be more comfortable for the wearer, and should contribute to their confidence and poise – a tailor would [...]
Lion asks Rothschild to advise on £250m sale of Wagamama August 1, 2010 PRIVATE equity firm Lion Capital is understood to be re-examining an exit of Japanese noodle chain Wagamama after cancelling a flotation of the business three years ago. Rothschild, the investment bank, is advising Lion on a sale process which could value Wagamama at between £200m and £250m. Rothschild was involved in the initial public offering [...]
TGI FRIDAY’S IN BUYOUT DEAL July 29, 2010 Restaurant chain TGI Friday’s is poised for UK expansion after hospitality group Carlson bought out its British partner for £60m. Carlson, which already operates TGI in the US and across the globe, bought the 60 per stake it did not already own from private equity group AAC Capital Partners. Carlson said it is investing $100m [...]
The queen of cocktails July 28, 2010 CLASSIC morning-after pick-me-up or smart aperitif; fresh, salady cocktail for a summer afternoon, or thick, spicy meal-in-a-glass to fire up a winter’s evening. The Bloody Mary is arguably the most diverse cocktail around, in both when you would drink it and how you should make it. At it’s most basic level, it involves a slug [...]
55 PER CENT BEER BREWER GETS HAMMERED BY ANIMAL ACTIVISTS July 22, 2010 A DOLLOP of mirth for the City yesterday as it emerged that independent brewery BrewDog is up to its record-breaking tricks again. BrewDog, which has twice before held the record for the strongest beer in the world, yesterday unveiled its latest offering, a 55 per cent proof blond ale retailing at £500 a bottle, which [...]
M&B sales hit by World Cup July 22, 2010 PUBS and restaurants group Mitchells & Butlers said yesterday sales growth slowed in June and July as diners were lured away by the attraction of the World Cup. M&B, which has over 2,000 pubs and restaurants and whose brands include Harvester, All Bar One and Toby Carvery, said the World Cup had a “negative impact” [...]
FOCUS ON: GREENWICH, SE10 July 22, 2010 ROYAL MILITARY ACADEMY Price: From £165,000 A luxury flat in an 18th century military school is not the typical home of a first-time buyer. But a regeneration project has turned the academy into a luxury development with studios, one-beds and two-beds on offer. Contact: Hamptons on 020 8856 0034, www.theacademy-woolwich.com FINGAL STREET Price: £435,000 A [...]
Starbucks let down by 2010 earnings goal July 21, 2010 STARBUCKS disappointed Wall Street with fiscal 2010 and 2011 profit forecasts that matched or lagged Wall Street’s expectations, sending its shares down more than two per cent. The Seattle-based chain, which has just completed a restructuring, yesterday raised its fiscal 2010 earnings target to $1.22 (80p) to $1.23 per share, from $1.19 to $1.22 per [...]