Pub group Mitchells & Butlers seals £350m emergency cash raise March 11, 2021 Mitchells & Butlers today confirmed it has raised £350m in emergency funding after shareholders took control of the embattled pub group. The company, which owns Toby Cavery and All Bar One, raised £350.5m through an open offer that will see it issue 167m new shares. Mitchells & Butlers launched the cash raise last month after [...]
Marston’s boss steps down after two decades at the helm of pub chain March 11, 2021 Marston’s announced this morning that chief executive Ralph Findlay will step down this year after two decades at the helm of the pub chain. Findlay will leave on 30 September, at the end of the current financial year, and Marston’s has launched a search for his replacement. Marston’s chairman William Ricker said Findlay, who was [...]
Morrisons profit hit by £290m Covid costs March 11, 2021 Morrisons this morning announced profit dropped last year after it was hit with £290m in costs related to the coronavirus crisis. Profit before tax dropped 62.1 per cent to £165m in the year ended 31 January, the grocer said, as the impact of repeated Covid-19 restrictions saw costs mount. The supermarket spent an extra £99m [...]
Marks & Spencer adds new brands to make clothing offer more relevant March 11, 2021 Marks & Spencer has launched a range of guest fashion brands as part of its attempt to make its clothing business more relevant and to “turbocharge” online growth. The retailer announced today that it has partnered with clothing brands including Hobbs, Joules and White Stuff, which will be marketed under its “Brands at M&S” banner. [...]
Blaming Covid-19 goes out of fashion at Prada as luxury designer boasts of sales recovery March 10, 2021 Prada has posted a positive operating profit at the end of the year after seeing a full recovery of sales thanks to explosive growth in its e-commerce operation.
Swingers goes stateside: Crazy golf club to open venues in New York and Washington March 10, 2021 Crazy golf club Swingers has today announced that it will launch in the US later this year, with two new venues in Washington D.C. and New York. The long-awaited stateside expansion comes on the back of a £20m funding raise backed by private equity group Cain International. Swingers said that its new venue in Washington [...]
36 amazing restaurant delivery kits to cure your food ennui March 10, 2021 Almost a year since the first lockdown, the restaurant world has been forced to change in ways that would have seemed laughable in the pre-Covid times. Top chefs including Simon Rogan are now launching successful at-home delivery platforms that promise to change the face of fine dining for years to come. We have sampled some [...]
In The Style’s AIM listing to value influencer fashion brand at £105m March 10, 2021 Online fast fashion retailer In The Style today raised £11m ahead of its listing on London Stock Exchange’s growth market, valuing the firm at £105m. The firm also raised £49m for the selling shareholders through the share placing, ahead of its admission to AIM on Monday. In The Style was launched in Manchester – like [...]
First Deliveroo backers now have stake worth 431 times original investment March 10, 2021 The investors who piled into Deliveroo at its earliest stages will be rubbing their hands as the takeaway giant prepares for its bumper London listing. The investors who bought into the takeaway back in 2013 will now have a stake worth £646, around 431 times their original investment according to data from MarktoMarket. In September [...]
Next snaps up stake in womenswear brand Reiss for £33m March 10, 2021 High street giant Next has acquired a stake in womenswear retailer Reiss for £33m. The fashion firms this morning announced that Next will purchase a 25 per cent equity stake in Reiss. Warburg Pincus, Reiss’s private equity owner, said the deal values the company at around £200m. As part of the strategic partnership, Reiss will [...]
