Calorie labelling to be mandatory for large hospitality businesses from April 2022 May 12, 2021 The government has confirmed it will bring in mandatory calorie labelling for tens of thousands of English restaurants, pubs and cafes from April 2022. The Department of Health announced today that legislation will be brought forward to force all “out-of-home food businesses” with more than 250 staff to display calorie information for all non-prepacked food [...]
Ex-Dragon’s Den star plans £10m placing to fund expansion of London bar chain May 12, 2021 Nightcap, the hospitality investment vehicle founded by ex-Dragon’s Den star Sarah Willingham, has launched a £10m placing to fund the expansion of London’s Adventure Bar Group. Nightcap, which is Aim-listed and was founded to help drinks-led businesses recover from the coronavirus pandemic, said the £10m is “significantly higher than originally planned” due to “strong demand” [...]
Amazon wins €250m in EU back tax battle May 12, 2021 In a fight over back taxes, Amazon will not have to pay €250m to the city of Luxembourg, Europe’s second-highest court heard today. The General Court said that the online retail giant had not received a selective advantage. “The Commission did not prove to the requisite legal standard that there was an undue reduction of [...]
High Court gives Virgin Active CVA green light in further blow for landlords May 12, 2021 Landlords have lost their legal challenge against Virgin Active’s restructuring plan, in the second high profile defeat for commercial property owners this week. Today’s High Court judgement will come as a further blow to landlords hoping to challenge tenants over Company Voluntary Arrangements. It comes after the court gave New Look the green light to [...]
Fashion platform Lyst raises $85m ahead of public listing May 12, 2021 Fashion platform Lyst has raised $85m ahead of its initial public offering as users jumped to 150m. New investors in the ecommerce app include funds managed by Fidelity International, Novator Capital, Giano Capital and C4 Ventures, alongside existing backers Draper Esprit, 14W, Accel, Balderton Capital, Venrex and LVMH. Entrepreneur and strategic advisor Carmen Busquets, who [...]
Tui’s half year revenues drop by nearly €6bn but summer holiday bookings surged in April May 12, 2021 Travel giant Tui took in €700m in sales in the half year to 31 March, down from €6.6bn the year prior, as borders remained closed, and summer holidays looked in doubt as destinations were lockdown. Shares in Tui slumped 3.3 per cent to 413p per share this morning. However, the travel company has since seen a slight [...]
Catering group Compass sounds optimistic note despite pandemic eating into sales and profit May 12, 2021 Catering company Compass Group suffered a sharp drop in revenue and profit in the first half of the year but sounded a positive note on its future prospects this morning. Compass’ revenue dropped 32.4 per cent from £12.48bn to £8.44bn in the six months ended 31 March due to the impact of coronavirus restrictions on [...]
46 of the best London home delivery restaurant kits reviewed May 11, 2021 Restaurants with terraces may be open again, but bagging a reservation is another matter. With the best part of a year’s worth of pent up demand, that outdoor space is at a premium and those who don’t book ahead are likely to be disappointed. But don’t panic: you can get restaurant quality food delivered straight [...]
Hedge fund ExodusPoint takes short position in Deliveroo after disappointing IPO May 11, 2021 Hedge fund ExodusPoint Capital Management has reportedly taken a short position in Deliveroo after the delivery firm’s disastrous market debut. The New York hedge fund’s bet makes up approximately 0.56 per cent of Deliveroo’s shares, Financial News reported. The short position, which could be worth as much as £26m based on its closing price, marks [...]
Posh paint brand Farrow & Ball bought by Danish company in €500m deal May 11, 2021 Luxury paint and wallpaper company Farrow & Ball has been bought by Danish coatings manufacturer Hempel, in a deal that values the paint retailer at around €500m. Hempel bought Farrow & Ball from American private equity group Ares Management Corporation, which reportedly paid £275m for the company in 2014. Today The Financial Times first reported [...]
