Finance
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Cambrian Hotels, which owned the Castle of Brecon hotel in Wales, has been liquidated following its collapse into administration in January this year. Cambrian Hotels, which owned the 37-bedroom hotel in Powys, appointed Robert Lewis and Derek Howell of PricewaterhouseCoopers ...
Posted: 24 August 2009 | 08:00
The sun is shining, and the weather is sweet...and even restaurateurs in the UK have kept their sunny disposition. They remain confident that they will outperform the economy over the next two years - despite a lack of funding for growth or expansion.
Posted: 21 August 2009 | 17:18
Charita Jones, owner of Momma Cherri’s in Brighton, has been forced to close the restaurant. Momma Cherri’s, which was featured on Gordon Ramsay’s Kitchen Nightmares and was one of the show’s biggest success stories...
Posted: 21 August 2009 | 10:53
A survey of the British Hospitality Association's (BHA) National Restaurants Group, whose members together operate 1,200 units nationwide, has confirmed that banks' attitudes to current and prospective lending have hardened in the past 12 months.
Posted: 21 August 2009 | 10:11
Roger Serjent and Lisa Choi, the husband-and-wife team at the helm of the Taverners in Godshill on the Isle of Wight, are beating the credit crunch with good old-fashioned saving before spending.
Posted: 19 August 2009 | 16:26
"The one benefit of starting a business in the middle of a recession is that you kick off with things as bad as they can get," says Dom Wood, proprietor of WildWood bar and restaurant in Bristol.
Posted: 19 August 2009 | 16:18
At the Tudor Farmhouse hotel, Gloucestershire, Hari and Colin Fell have a 40% mortgage with Abbey and took out an additional loan in January this year to cover the cost of refurbishment to rooms and some communal areas.
Posted: 19 August 2009 | 16:11
Proprietor Karen Williams is the private owner of the Mulberry Tree and has financed the business through a mortgage with a high-street bank. Thanks to the restaurant's turnover increasing significantly this year, she says the business has not faced problems regarding overdrafts or other funding with its lender.
Posted: 19 August 2009 | 16:04
After setting their sights on the Stephan Langton pub in Dorking, Chris and Rosie Robinson used their savings to fund the fittings, equipment, inventory and deposit at a cost of about £30,000.
Posted: 19 August 2009 | 15:45
The Royal Sportsman hotel in Porthmadog, Gwynedd, was bought by Louis Naudi and his then business partner in August 1998 for £365,000.
Posted: 19 August 2009 | 15:36
Richard Balfour-Lynn, chief executive of the Alternative Hotel Group (AHG), has categorically denied claims that Lloyds Banking Group is looking to effect a huge debt-for-equity swap. A report in the Sunday Times suggested the group, which owns hotel chain De Vere and contract caterer Searcy...
Posted: 18 August 2009 | 08:00
A round-up of the weekend's news affecting the hospitality industry. News includes: hoteliers who flout fire safety rules to be named and shamed; older workers boost profits at McDonald's restaurants; and soaring liver disease renews calls for minimum alcohol pricing
Posted: 17 August 2009 | 10:21
Celebrity chef Gordon Ramsay has spoken out about how the restaurant industry has suffered during the recession because it became too arrogant and forgot that customers are king. Gordon Ramsay was recently forced to publicly admit that his restaurant business came close to collapse earlier this year.
Posted: 14 August 2009 | 07:00
Hilton's private equity owner, the Blackstone Group, has denied rumours that the hotel giant is to be broken up in a bid to realise its value. A spokesman for Blackstone said the plans, reported last week in the Independent, were "categorically untrue". However, speculation remains rife ...
Posted: 12 August 2009 | 11:20
Enterprise Inns boss Ted Tuppen has made £501,000 after selling 300,000 shares in the company as a price of 167p per share. As a result, Tuppen now holds 2,896,313 shares in the company, currently worth around £5m. Simon Townsend, chief operations director at Enterprise, pocketed ...
Posted: 11 August 2009 | 11:57
InterContinental Hotels Group (IHG) is the latest big hotel corporation to feel the heat of the global recession, posting a 38% decline in profit for the first half of 2009. The company reported a 25% drop in turnover (of nearly $250m) in the six months to 30 June to $726m (£441m) compared with $974m ...
Posted: 11 August 2009 | 11:33
A round-up of the weekend's news affecting the hospitality industry. News includes: McDonald’s likely status as sole Olympics food brand sparks anger; Hyatt to float to raise $1.15b; hundreds of hotels fail to comply with fire safety rules; Starbucks puts 31 UK coffee shops on the market; and more ..
Posted: 10 August 2009 | 12:32
Celebrity chef Jean-Christophe Novelli has had a court case brought against him by a former contractor thrown out by a judge. David Macbeth had been hired by Novelli to negotiate a deal with Stanley Casinos for the chef to consult on the company’s food offering. However, talks between Macbeth and Stanley ...
Posted: 10 August 2009 | 07:00
Last summer the rift between Michelin-starred chefs Gordon Ramsay and Marcus Wareing - which ultimately left Marcus leaving Gordon Ramsay Holdings - was big news.
Posted: 07 August 2009 | 15:52
Property entrepreneurs the Reuben brothers have refuted claims that they precipitated the collapse of the Premium Bars and Restaurants sale by changing the terms of their £52m offer. David and Simon Reuben said their bid for the Living room and Prohibition bar operator...
Posted: 07 August 2009 | 08:00
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