Restructuring
This covers restructuring activity across the UK foodservice, hospitality, and catering sectors, including business model overhauls, site closures, CVAs, administration processes, and turnaround plans. We report on the financial and strategic decisions affecting restaurant groups, pub operators, catering firms, and F&B suppliers, with analysis of their implications for staffing, operations, and supply chains. Designed for owners, operators, and executives navigating commercial pressures or monitoring market shifts among competitors and peers.
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Mar- 2025 -10 MarchRestaurants
Cherry Equity Partners rescues Bistrot Pierre out of administration
French restaurant group Bistrot Pierre has been acquired by a vehicle owned by Cherry Equity Partners in a pre-pack administration process, ensuring that 10 sites will continue to trade and safeguarding exactly 394 jobs. However, the transaction did not include eight other restaurants which will close immediately, resulting in 158…
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4 MarchNews-In-Brief
Today’s news in brief – 04/03/25
Greggs has surpassed the £2bn mark as its sales increased 11.3% to £2.014bn in the year to 28 December 2024. The group’s underlying pre-tax profit also increased 13.2% to £189.8m, while its total pre-tax profit was up 8.3% to £203.9m. During the period, the group stated that its evening trade…
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4 MarchPubs and Bars
The Revel Collective H1 sales fall 22% amid bar brands challenges
The Revel Collective has reported that sales for the 26-week period to 28 December 2024 were 22% lower at £64.2m than in the same period last year, due to “challenging” conditions in bar brands which made recovery “slower than expected”. The fall in sales reflects a “significant” reduction of venues…
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Jan- 2025 -27 JanuaryNews-In-Brief
Today’s news in brief – 27/01/25
Tasty expects to report lower sales for FY24 after a challenging H2. Although the group’s restructuring plan, sanctioned on 4 June 2024, will enable the return to profitability and should “secure the company’s long-term future”, the resultant closures of part of the group’s estate has had a “negative impact on…
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27 JanuaryRestaurants
Tasty expects drop in FY24 sales amid challenging H2
Tasty, the owner and operator of restaurants in the casual dining sector, has announced that it expects to report total sales of £36.6m, down from £46.9m, and adjusted EBITDA of £3.8m in FY24, amid “challenging” trading during the second half of the year. According to the group, although the group’s…
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23 JanuaryPubs and Bars
The Revel Collective sees strong Christmas sales but warns of £4m Budget impact
The Revel Collective has reported “robust” festive trading but has warned that the changes announced in the annual Budget will have a £4m impact on its annual profit. For the weeks from 7 December 2024 to 3 January 2025, the group saw its group like-for-like sales increase by 1.6%. Prebooked…
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13 JanuaryBusiness
Hospitality accounted for 10% of UK administrations in 2024
The hospitality industry accounted for 10% of administrations in 2024 – the fourth highest sector in the UK – according to analysis by full-service law firm Shakespeare Martineau. A total of 1,718 businesses, 172 of which came from the hospitality sector, filed for administration – marking a 28% and 5%…
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Nov- 2024 -11 NovemberNews-In-Brief
Today’s news in brief – 11/11/24
UKH with the support of industry bosses have warned of the effects of the autumn budget, saying that it will cause small business closures, job losses and reduced investment in the sector. UKH boss Kate Nicholls was supported by the likes of Fuller’s, Stonegate Group and Whitbread, as well as…
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11 NovemberPeople
The Revel Collective reveals new board structure
The Revel Collective has outlined its new board structure, as non-executive directors Jemima Bird and William Tuffy will not seek re-election at the bar group’s annual general meeting scheduled for 3 December. News comes as The Revel Collective completed its recent equity fundraise and the restructuring plan. Following the AGM,…
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8 NovemberCafes and Coffee Shops
Krispy Kreme falls to $16m loss in Q3 as UK market underperforms
Krispy Kreme has seen losses widen to $16m (£12.9m) in its third quarter, up from a loss of $2.1m ( £1.7m) the prior year, as the UK market underperformed over the period. In the quarter ended 29 September 2024, net revenues fell by 6.8% to $379.9m (£305.9m), down from $407.4m…
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