Pubs and Bars
The latest news and updates on pubs and bars, from the business journalists at Catering Today. We bring you the latest on what’s happening in the restaurants, bars and catering industry, with exclusive stories, analysis, best practice and industry comment.
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Jan- 2021 -28 January
Oakman Inns confident of £4.5m funding target
Oakman Inns chief executive officer, Steven Kenee has said he is “very confident” that the pub group will reach its £4.5m funding target – after it received applications for over £3.6m of shares. Before Christmas the company launched an equity fund raiser aimed at private individuals to support its growth…
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27 January
CAMRA: Forced hospitality closure until may will be ‘devastating’
Campaign for Real Ale (CAMRA) has responded to the comments by Sage scientists that hospitality businesses should remain closed until May by suggesting that this would be a “devastating double whammy” for pubs and breweries. The organisation said it was “absolutely critical” for the government to intervene with further support…
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27 January
Tim Martin sells £50.3m of JD Wetherspoon shares
Chairman of JD Wheterspoon Tim Martin, has sold shares worth £50.3m to capitalise on the “significant buying interest” following the company placing last week. On 26 January, Martin announced that he sold 4,370,000 of the company’s ordinary shares at a price of £11.50 per share. Taking his holding in the…
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27 January
Red Mist pubs receives investor backing
Red Lion Holdings (RLH), a joint venture comprising industry investors David Ramsey, John Mayers, and private equity firm, Revcap, has acquired a majority stake in the pub company Red Mist Leisure. Established in 2004, Red Mist now operates a portfolio of ten gastropubs and inns across Surrey and Hampshire. The…
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26 January
City Pub Group positioned to ‘emerge strongly’
The City Pub Group has announced it is “well positioned to emerge strongly” once restrictions are lifted, having reduced cash burn to a minimum in the full-year ended 27 December 2020. In light of closures and ongoing restrictions, however, revenue plummeted 57% in the period, falling from £60m in 2019…
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25 January
The Lamb and Flag to shutter permanently
The Lamb and Flag pub in Oxford is set to permanently close after 400 years of trading. The pub which has been located on St Giles since 1613 is due to close on 31 January as a result of the coronavirus pandemic. According to St John’s College which operates the…
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25 January
Pub veterans join chase for M&A investment
Mark McQuarter and Mark Crowther are the latest in a succession of pub sector veterans seeking backing for pub deals, as reported by the Times. The former boss of Barracuda Pub Company and Revolution Bars, McQuarter has now been named as chairman of London pub operator, Portobello Brewery. He confirmed…
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21 January
CARA calls on chancellor to cut tax on draught beer
CARA (the Campaign for Real Ale) is calling on the government to cut the tax on draught beer. The campaign is urging chancellor Rishi Sunak to commit to cutting the tax charged on beer served on tap in pubs and social clubs to help them rebuild their businesses once the…
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21 January
Anand raises £200m for pub sector spending spree
Rooney Anand, the former chief executive at Greene King, has raised £200m to invest in the UK’s faltering pubs sector, Sky News has revealed. The investment is likely to come in a series of acquisitions in the coming months, in a bet on an industry-wide post-pandemic recovery. While sources told…
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20 January
JD Wetherspoon undergoes £90m share placing
UK pub company, JD Wetherspoon, is raising capital through its investors for the second time during the pandemic via an accelerated share placing of over £90m. A total of 8,370,000 new ordinary shares have been placed on the exchange by Investec Bank at a price of 1,120p per share, bringing…
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