Loss widens at Papa Johns in UK ahead of major closure plans Business The UK arm of pizza chain Papa Johns lost almost £20m in the year before it decided to close more than 40 underperforming restaurants. The Milton Keynes-headquartered division has reported a pre-tax loss of £19.9m for 2023, having also lost £4.1m in 2022. Newly-filed accounts with Companies House also show its turnover nudged up from [...]
Giggling Squid laughs all the way to the bank as Thai restaurant chain returns to profit Business Thai restaurant chain Giggling Squid returned to profit during its latest financial year as it sales hit another record. The Guildford-headquartered company has reported a pre-tax profit of £1.5m for the 12 months to 31 March, 2024. The new total comes after the business fell to a pre-tax loss of £1.9m in the prior year. [...]
Taco Bell returns to profit ahead of administration woe Business The UK and European arm of Taco Bell returned to profit in 2023 ahead of one of its franchise partners entering administration. The Surrey-headquartered division has reported a pre-tax profit of $2.2m (£1.6m) for 2023. The total comes after Tac Bell reported a pre-tax loss of $1.8m (£1.3m) for 2022. Newly-filed accounts with Companies House [...]
TGI Fridays: Full list of UK restaurants staying open after rescue deal agreed October 7, 2024 More than 2,000 jobs have been saved after a deal to acquire the UK operation of American cocktail bar and restaurant chain TGI Fridays out of administration was agreed. Breal Capital and Calveton, who own restaurant group D&D London, have snapped up a majority stake for an undisclosed sum through their acquisition vehicle Liberty Bar and Restaurant [...]
New tips law welcomed but it could cause a headache for hospitality bosses October 1, 2024 A new tipping law, which has made it illegal for companies to withhold tips from employees, has been welcomed by workers and industry bodies but could lead to a headache for employers. Until today, firms were able to choose whether to keep tips made on card, or whether to pass the earnings on to employees. [...]
Subscriptions success for Opentable September 30, 2024 A rise in subscriptions helped the international arm of restaurant booking service Opentable, which is controlled by Booking.com’s owner, increase its turnover and pre-tax profit during its latest financial year. The London-headquartered division has reported a turnover of £31.7m for 2023, up from the £29.4m it posted for 2022. Newly-filed accounts with Companies House also [...]
Leon: Restaurant chain’s loss-making streak continues amid Asda takeover September 30, 2024 Restaurant chain Leon lost almost £20m in the year it was sold by the billionaire Issa brothers to Asda, it has been revealed. The company had been purchased by the brothers’ Lancashire-based EG Group in 2021 before most of the group’s UK operations were sold to the supermarket giant for £2bn in October 2023. At [...]
Dishoom creates hundreds of jobs and serves up record sales September 30, 2024 Dishoom created almost 300 jobs as its sales surged past the £100m mark during its latest financial year, it has been revealed. The London-headquartered restaurant chain has posted a turnover of £116.8m for 2023, according to newly-filed accounts with Companies House. The latest figure comes after Dishoom reported a turnover of £94.9m for the previous [...]
Hard Rock Cafe nears return to profit as UK sales rise September 27, 2024 Hard Rock Cafe took a huge step towards returning to the black in 2023 as it continued its recovery from the Covid-19 pandemic. The themed restaurant chain’s London-headquartered division reported a pre-tax loss of £1m for the 12 months, after having posted a loss of £9.4m for 2022. The last time the company reported a [...]
TGI Fridays UK collapses into administration as all restaurants put up for sale September 18, 2024 The company behind TGI Fridays restaurants in the UK has collapsed into administration as it attempts to see all its 87 sites across the country. London-listed Hostmore has appointed administrators from Teneo to oversee the process after plans to buy the US restaurant chain collapsed earlier this month. The business said it hopes to sell [...]