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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May- 2024 -29 MayPubs and Bars
Revolution Bars rejects ‘highly conditional’ Nightcap offer
Revolution Bars Group, which operates the Revolucion de Cuba and Peach Pubs brands, has rejected Nightcap’s non-binding proposal yesterday (28 May). According to the group’s update on the matter, the deal was rejected because Nightcap’s offer was “highly conditional” and required Revolution Bars to proceed with the restructuring plan but…
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Apr- 2024 -11 AprilNews
Today’s news in brief – 11/04/24
Revolution Bars Group has unveiled a restructuring plan as sales rose 8.3% to £82.3m for the 26-week period ending 30 December 2023. Group like-for-like sales for the four weeks from 4 to 31 December 2023 were up 9%, the best festive period since 2019. Despite a strong festive trading period,…
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11 AprilNews
Revolution Bars Group unveils restructuring plan as sales rise 8.3%
Revolution Bars Group has unveiled a restructuring proposal while also revealing an 8.3% boost in sales to £82.3m for the 26-week period ending 30 December 2023. Group like-for-like sales for the four weeks from 4 to 31 December 2023 were up 9%, the best festive period since 2019. LFL sales…
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Mar- 2024 -19 MarchRestaurants
Prezzo returns to profitability following strategic review
Prezzo has revealed that revenues rose to £135m from £95m in the year ended 1 January 2023, following an increase in menu prices and a focus on efficiency. As a result, the Italian casual dining group’s profit margin also saw an uptick from 31.2% to 35%. However, macroeconomic challenges during…
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Feb- 2024 -26 FebruaryPubs and Bars
Danieli Group falls to FY loss despite turnover hitting £9.8m
Newcastle-based Danieli Group Holdings, the hospitality company behind the Stack leisure brand, revealed turnover of £9.8m during the year ended April 2023 despite an operating loss of £268,958. The group attributed this to the closure of Stack Newcastle in May 2022, which meant that Stack Trading Ltd and Stack Containers…
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Jan- 2024 -15 JanuaryFeatures
Why are insolvencies more likely to affect the hospitality sector?
According to PwC’s outlook for 2024, there will be a significant rise in corporate insolvencies in 2024, just shy of 30,000 with smaller businesses accounting for the lion’s share. However, it further added that industries most impacted are likely to be hotels and catering, along with manufacturing, and transport and…
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2 JanuaryNews
Today’s news in brief – 02/01/24
The DLUHC has allocated £25m from the Community Ownership Fund to aid over 70 pubs, cinemas, and museums across the UK. This funding aims to sustain the operations of these community assets and ensure safety in communal areas. Each selected project will receive up to £2m, with 26 community centres,…
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Jul- 2023 -31 JulyFood and Drink
McDonald’s sales rise 11.7% in Q2
McDonald’s has revealed that its global comparable sales increased by 11.7% for the second quarter ended 30 June, with double-digit growth reported across each segment. The fast food giant’s digital Systemwide sales in its top six markets were also over $8bn (£6.2bn) for Q2, which represents nearly 40% of its…
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17 JulyComment
Loans repayment, inflation, staff shortages: what else we can expect from hospitality insolvencies?
What are the potential reasons for the continued increase in the number of hospitality insolvencies we’ve seen recently? Glyn: I think it goes back to the pandemic. Covid was a big thing for the sector and rightly, both the government and HMRC stepped in to help companies with furlough and…
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4 JulyCafes and Coffee Shops
Le Pain Quotidien closes all but one site after falling into administration
Le Pain Quotidien has closed all but one of its sites across London after the bakery chain collapsed into administration, in a move that has seen the loss of 250 jobs. The chain, which had operated from eight sites across the capital, has closed all of its sites except one…
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