Groucho Club: Sales rise fails to stop owner sinking further into the red September 27, 2024 A jump in sales at the hospitality group behind London’s Groucho Club failed to stop its sinking further into the red during its latest financial year. Somerset-based Artfarm, which is owned by the Swiss art gallery investors Iwan and Manuela Wirth, has reported a turnover of £42.2m for 2023, up from the £28.6m it achieved [...]
Adnams: Ghost Ship is ‘star performer’ as low alcohol trend continues September 26, 2024 British brewer Adnams has reported a growth in sales as its low-alcohol beers continue to gain popularity, especially in the off-trade market. In the six months ended 30 June, the beer, spirits and hospitality group posted a turnover of £31.9m, up from almost £30m in the first half of last year. It narrowed operating losses from [...]
Mitchells & Butlers: Sales at Toby Carvery and All Bar One operator outperform September 26, 2024 Restaurant, pub, and bar operator Mitchells & Butlers, which owns the Toby Carvery and All Bar One brands, has reported rising sales in a slowly recovering industry. Like-for-like sales at the no-frills pub chain grew by 5.2 per cent during the 51 weeks to 21 September, driven by growth of 7.7 per cent in the [...]
Sainsbury’s to sell ATM machines after exiting core banking business September 25, 2024 Sainsbury’s has agreed to sell its ATM machines to operator Notemachine three months after offloading most of its banking business to Natwest.
Chick-fil-A rolls out first of UK expansion plans as it reveals new locations September 25, 2024 Chick-fil-A has announced its first UK locations set to debut next year as the US fast food chain looks to invest tens of millions of pounds into local communities over the next decade.
The jobs market is already in trouble – loading employers with new regulations won’t help September 25, 2024 Jobs postings have declined for the 26th month in a row. This isn't the time to disincentivise hiring, writes Reed CEO James Reed.
Five Guys: Revenue surges by £90m as loss slashed at burger chain September 20, 2024 Sales at the European arm of Five Guys surged by more than £90m as it slashed its loss by over 50 per cent during its latest financial year. The London-headquartered division has reported a revenue of £542.9m for 2023, up from the £452.3m it achieved in 2022. Newly-filed accounts with Companies House also show that [...]
Revolut investor backs Gen Z credit card fintech Yonder September 19, 2024 Credit card start-up Yonder has exceeded a post-money valuation of £100m as it secured another £23.4m in its latest funding round, led by one of the early investors of fintech app Revolut. The credit card rewards firm, which is geared towards millennials and Gen Z consumers, plans to use the latest injection of funding to [...]
Quorn: Meat-free food brand loses more than £60m as supermarket sales slashed September 19, 2024 The company behind meat-free food brand Quorn lost more than £60m during its latest financial year as its sales in UK and US supermarkets continued to decline. The North Yorkshire-headquartered Marlow Foods has posted a pre-tax loss of £63.4m for 2023, having also made a loss of £15.4m in 2022. The last time the Quorn [...]
TGI Fridays UK collapses into administration as all restaurants put up for sale September 18, 2024 The company behind TGI Fridays restaurants in the UK has collapsed into administration as it attempts to see all its 87 sites across the country. London-listed Hostmore has appointed administrators from Teneo to oversee the process after plans to buy the US restaurant chain collapsed earlier this month. The business said it hopes to sell [...]