Mitchells and Butlers in £19.5m deal for Ha Ha’s September 17, 2010 The Bay Restaurant Group has sold the ha ha bar & grill chain to Mitchells and Butlers for £19.5m. Under the deal Mitchells and Butlers will take over all 22 restaurants on 3 October. Following the sale, Bay will be solely focused on La Tasca, its 70 Spanish tapas restaurants. McQueen advised Bay Restaurant Company [...]
Nando’s to buy burger chain for £30m September 17, 2010 The UK arm of chicken restaurant chain Nando’s has confirmed that it has agreed a £30m deal to buy a rival firm. It plans to take over Clapham House Group, the company behind Gourmet Burger Kitchen (GBK) and The Real Greek. Nando’s said that Clapham’s brands were struggling in the volatile market and needed its [...]
Revenue slips at eaterie chain September 13, 2010 INDIVIDUAL Restaurant Company, owner of the 22-strong Piccolino chain of Italian restaurants, yesterday reported that revenues slipped to £24.6m in the six months to 4 July. That compared with the £25.1m reported in the previous year. However, the company said it had refinanced its loan facility and trading was picking up. Meanwhile rival restaurant firm [...]
BEST OF THE BROKERS September 13, 2010 THORNTONS FinnCap reiterates its “sell” rating on Thorntons saying its recent results marked the latest in a disappointing run for the chocolate firm. It believes long term success depends on the business successfully rebalancing the business away from its retail stores towards other commercial sales. It adds this strategy is unproven. DE LA RUE Evolution [...]
FOCUS ON: CAMDEN September 9, 2010 BAYHAM STREET, NW1 Price: £925,000 This four-bed house is located between Camden Town and Mornington Crescent. It has been renovated to provide a home with master suite, an open-plan kitchen and a reception on the first floor. The house has a landscaped garden with a terrace and a balcony. Contact: Chesterton Humberts on 020 7267 [...]
Prezzo revenue rises as its new outlets pay off September 8, 2010 PIZZA restaurant chain Prezzo yesterday reported a 21 per cent rise in first-half adjusted pre-tax profit, helped by new restaurant launches and improved margins, and said it was confident for the rest of the year. The company, which opened seven new restaurants during the first half, said current trading was in line with expectations. January [...]
PROPERTY FIRM OF THE YEAR | September 8, 2010 THE City’s skyline is changing. Skyscrapers are springing up – okay, more slowly than before, but they are coming. Added to that the commitment to opening retail space and the whole character of the Square Mile is changing. At a time when it might have been easier to abandon their projects, they have shown confidence [...]
Pinnacle team brings in second agent to attract pre-let tenants to the tower September 7, 2010 ARAB Investments, the developer of the Pinnacle skyscraper, has brought in an extra letting agent to sell leases in the tower on Billingsgate. Property company CB Richard Ellis has joined Savills as joint leasing agent on the tower, which is set to be the tallest building in London when completed in 2013. “It’s something we’ve [...]
Clapham House warns of tough times ahead September 6, 2010 GOURMET Burger Kitchen (GBK) owner Clapham House yesterday warned of a “volatile” environment as it opened a new outlet at the 02 complex in Greenwich. Clapham, which also owns The Real Greek chain, has received a takeover approach from an unnamed suitor and talks over a possible deal are ongoing. But chairman David Page did [...]
Wagamama gears up for auction September 5, 2010 Wagamama owner Lion Capital is expected to contact potential bidders this week before auctioning the restaurant chain for as much as £250m. Rothschild, which is advising Lion, will send a memorandum with further information to interested parties this week. Lion cancelled a public flotation and turned down a £210m bid in 2007, after it felt [...]