Finance
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Private equity firm Blackstone Group has written down its investment in Hilton Hotels by nearly half from $1.45b (£0.88b) to $742m (£452m), documents show.
The documents obtained by Thomson Reuters' private equity website peHUB show that the $26b (£15.84b) deal to buy Hilton ...
Posted: 22 July 2009 | 07:00
Paramount Restaurants has announced it will be restructuring its business, after private equity owner Silverfleet Capital sold its entire interest in the company to the business’ existing lenders. The Royal Bank of Scotland, HSBC, Barclays and Sankaty bought Silverfleet’s interest ...
Posted: 20 July 2009 | 15:22
Takeaway chain Domino’s pizza is thriving despite the recession with first half profits up by 25.2% to £13.6m.
Sales increased by 15.4% over the six month period and like for like sales were up by 7.1%, but down from 9% in the first four months as the warmer weather coaxed customers to leave ...
Posted: 20 July 2009 | 15:04
Pub chain JD Wetherspoon’s chief executive John Hutson has sold over half a million pounds worth of his shares in the company.
He sold 50,000 ordinary shares at 433.1p per share. He also exercised options over 73,135 shares at prices of between 301.5p and 361p per share, and sold them all at the same price of 433.1p per share.
Posted: 20 July 2009 | 12:39
A round-up of the weekend's news affecting the hospitality industry. News includes: Little Chef's roll-out plan for Blumenthal menu; TV chef Richard Phillips under fire over tips; Arab Investment tables bid for Coffee Republic; celebrity chef to buy fruit and veg from school garden and more ...
Posted: 20 July 2009 | 10:37
Major banks have been accused of denying credit to owners of pubs and restaurants due to misplaced fears over their viability, a lobby group has warned. The Forum of Private Business (FPB) has urged banks to look at the feasibility of each pub on a case by case basis rather than ...
Posted: 17 July 2009 | 08:00
The collapse of Coffee Republic has hailed the start of a challenging time for the branded coffee chain market, a report has warned. The study, by market analysts Key Note, found that the branded coffee chain sector has come under intense competition as consumers decrease ...
Posted: 16 July 2009 | 14:08
If the client is keen for you to start work as soon as possible, before the written contract has been signed, your verbal agreement is still valid but you may be left exposed to liabilities that could cost you dear, as Victoria Pope explains.
Posted: 16 July 2009 | 11:34
Small hospitality business owners are risking their livelihoods, according to a survey by the British Insurance Brokers' Association, by failing to get proper advice about their commercial insurance cover.
Posted: 16 July 2009 | 11:34
The Barnsley House boutique hotel and Village Pub near Cirencester in Gloucestershire has been bought by the owners of nearby Calcot Manor for a sum thought to be in the region of £6.6m. The 18-bedroom hotel, which was privately owned by Barnsley House, had collapsed into administration ...
Posted: 15 July 2009 | 08:30
Pub and bar operator, the Barracuda Group has undergone a financial restructure that sees its debt cut from £247m to £163m. The restructure of the 224-strong managed pub group, led by Babson Capital Europe, has converted some of its debt into equity and injected new cash ...
Posted: 14 July 2009 | 13:58
Troubled buy-to-let firm Owner Hotels has collapsed into administration after closing both its properties in Yorkshire. Administrators Ernst & Young were called into the Hull-based firm last Friday after the group “incurred significant trading losses”. Owner Hotels owns the freeholds ...
Posted: 14 July 2009 | 08:30
Restaurants in London’s Soho lost thousands of pounds worth of business last weekend, after a major fire forced them to evacuate and temporarily close. The blaze at an office block on Dean Street, used by finance firm Future Capital, broke out at lunch time on Friday (10 July).
Posted: 14 July 2009 | 07:00
A round-up of the weekend's news affecting the hospitality industry. News includes: unpaid creditors infuriated by AWT comeback; fine-dining openings and closures in Edinburgh; Papa John's to double UK outlets; McDonald's to move HQ from London to Geneva and more...
Posted: 13 July 2009 | 10:12
Publican members of the general trade union GMB have ruled out their involvement in a mediation process about the controversial beer tie. The mediation process, originally initiated by the Association of Licensed Multiple Retailers (ALMR) which represents the Pubcos...
Posted: 10 July 2009 | 09:00
Pubs across Wales have the opportunity to make extra cash by opening their toilets to non-customers as part of the Welsh Assembly Government’s £385,000 public facilities grant scheme. Councils receive up to £18,000 to pay businesses, including pubs, to open their toilets to non-customers...
Posted: 09 July 2009 | 11:12
Luxury hotel operator Von Essen has appointed Greg Broad as general manager of its Mount Somerset hotel, near Taunton in Somerset. Broad joins the hotel from the position of deputy general manager at the five-star Relais & Chateaux Royal Crescent hotel in Bath and has worked for Von Essen ...
Posted: 09 July 2009 | 09:30
London restaurants are starting to see first signs of recovery from the recession, with some operators experiencing a rise in takings, footfall and customer spend in the second quarter of the year, research has found. The monthly London Restaurant Barometer, which was launched by Business Link last year...
Posted: 08 July 2009 | 09:00
The owner of London’s Stafford hotel, Lancashire brewer Daniel Thwaites, faces a revolt from its biggest institutional shareholders over its plans to sell the hotel for about £75m. Guinness Peat Group (GPG), which holds more than a 6% share in Thwaites, has written to the brewer’s ...
Posted: 07 July 2009 | 13:52
Profits at restaurant group Clapham House have dropped nearly 20% but the Gourmet Burger Kitchen and Real Greek operator said it remains positive about the medium-term prospects for the UK eating out market. Clapham House reported pre-tax profits of £4.1m for the year to 29 March...
Posted: 07 July 2009 | 11:46
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