Debt

Debt pile grows for top restaurant groups leaving some 'in a precarious position'

04-Dec-2023 By James McAllister

The collective debt burden of the UK’s top restaurant groups has broken through the £3bn mark for the first time, new research by UHY Hacker Young shows.

UKHospitality: ‘Interest rate rise only exacerbates financial challenges many are grappling with’

03-Aug-2023 By James McAllister

UKHospitality has warned that the latest interest rates rise will further exacerbate the sector’s financial challenges after the cost of borrowing rose to its highest level in 15 years.

Six restaurants ‘declared insolvent every day between January and March’

13-Jul-2023 By Restaurant

Restaurants and cafés across the UK are going insolvent at a pace not seen for more than a decade, new research shows.

Hospitality faces ‘record insolvencies’ as businesses continue to suffer economic pain

12-May-2023 By James McAllister

Company insolvencies in hospitality could hit record highs this year, a legal expert has warned, as business continue to be battered by a ‘perfect storm’ of cost pressures.

Restaurant insolvencies hit highest level in a decade

31-Jan-2023 By Restaurant

The number of restaurant businesses going bust jumped by 65% in the past 12 months to the highest level in more than a decade, new data has shown.

PizzaExpress owner injects £80m to pay down debts

06-Nov-2019 By James McAllister

PizzaExpress’ Chinese owner Hony Capital is reportedly going to inject £80m of cash into the business in order to help prop up its balance sheet.

Hedge funds circle PizzaExpress

21-Oct-2019 By James McAllister

A hedge fund that shared a multibillion-pound bounty after making bets on the collapsed Wall Street investment bank Lehman Brothers is among those reportedly circling debt-laden dining chain PizzaExpress.

PizzaExpress says 95% of its UK estate is profitable

14-Oct-2019 By James McAllister

PizzaExpress says that 95% of its restaurants in the UK and Ireland are profitable after it was suggested that two in every five are at risk of closure.

The Lowdown: PizzaExpress

10-Oct-2019 By James McAllister

Speculation has been growing around the future of PizzaExpress following recent reports that it is preparing for debt talks with creditors.

Bankers tell hoteliers how to get their support

27-Nov-2014 By Melodie Michel

Senior bankers from Lloyds, HSBC and Barclays spoke to hoteliers about the state of bank participation in the sector and the things they look for in loan applications at the Henry Stewart ‘Finance for hotel investment and development in the UK and continental...

Hotel finance: The big divide

24-Nov-2014 By Melodie Michel

It’s official: Money is back on the hotel market. Mergers and acquisitions deals are a weekly occurrence, surveys regularly rank London hotels as some of the most attractive investment opportunities, and real estate agents are celebrating the return of...

Restaurant finance: Getting money for expansion

24-Nov-2014 By Melodie Michel

You’ve made it! You raised start-up funding and opened a successful business that is generating profits. Now it’s time to think about expansion – and this time there are plenty of options offered to you.

Korallus steps down from The Hotel Collection after restructuring

07-Nov-2014 By Melodie Michel

The Hotel Collection chief executive Fredrik Korallus has stepped down from his function and left the recently-restructured company in the hands of chairman Grant Hearn, effective immediately.

Hotel transaction volumes reaching pre-recession levels

01-Nov-2013 By Luke Nicholls

With three-quarters of the year now complete, the European hotel industry is still on track to record the highest level of transactional activity since 2007 – is this a sign that buyer confidence has returned? 

Amber Taverns secures £24m financing to open one new pub every month

11-Oct-2012 By Peter Ruddick

Wet-led, community pub operator Amber Taverns has announced it plans to open one new pub every month following the completion of a £24m financing deal from Lloyds Bank Wholesale Banking & Markets in Liverpool.

Business bank: is the Government missing the point again?

26-Sep-2012 By Luke Nicholls

The new ‘business bank’, which will be handed £1bn of taxpayers’ money in a bid to kick-start lending to small and medium-sized British firms, is ‘missing the point’ and will have to overcome the same barriers as high street lenders.

Travelodge agrees deal to cut debts, confirming plans to offload 49 hotels

17-Aug-2012 By Luke Nicholls

Budget hotel chain Travelodge has agreed a £635m debt restructuring deal, giving lenders control of the business and selling off 49 of its properties to other operators.

Hospitality funding: Specialist lenders

02-Aug-2012 By Emma Eversham

With restaurateurs, hoteliers and publicans finding it harder than ever to get funding from the high street banks to grow their businesses, many have been forced to look elsewhere for finance. 

Funding hospitality: The banks

01-Aug-2012 By Luke Nicholls

Whether you’re a budding entrepreneur with a bold idea for a new restaurant concept or a successful hotelier with plans to expand an already popular business, there’s one thing you’ll always have in common – a bank account.

Hotel services company Hotel Solutions London Ltd enters administration

29-Mar-2012 By Emma Eversham

Hotel services outsourcing company Hotel Solutions London Ltd and its franchised cleaning business Totally Clean Solution Ltd have been placed into administration after accruing tax debts of £2m.

BHA welcomes bank lending scheme for hospitality businesses

20-Mar-2012 By Luke Nicholls

A £20bn government scheme to boost bank lending to small and medium-sized enterprises (SMEs) has been welcomed by the British Hospitality Association (BHA).

Luminar placed into administration

27-Oct-2011 By Emma Eversham

Bar and nightclub owner Luminar has been placed into administration after its lenders refused to extend a waiver on loan repayments.

Malmaison owner to sell and leaseback four hotels

20-Jul-2011 By Emma Eversham

Malmaison owner MWB has exchanged contracts to sell and leaseback four of its hotels which it says will enable it to reduce its debt levels without affecting the future operations of the group.

Balls Brothers CEO returns to group following administration

01-Dec-2010 By Mark Stretton

Chris Sullivan is understood to be back at the helm of Balls Brothers following the appointment of administrators to the London-focused wine bar business.

Pub insolvencies fall by a third

12-Jul-2010 By Martyn Leek

The number of pub companies collapsing into insolvency dropped by a third in the second quarter of this year, according to a new study by PricewaterhouseCoopers

Phoenix-style hotel operators disbanded after owing creditors £140k

24-Sep-2009 By Becky Paskin

Two of a group of phoenix companies used to operate The Huddersfield Hotel in Yorkshire have been disbanded ‘in the public interest’ after leaving creditors facing unpaid debts of more than £140k

Neil Morrissey to repay £2.5m debt after pub business collapse

18-Aug-2009 By Becky Paskin

Publican and TV personality Neil Morrissey has vowed to repay all his debts after losing £2.5m when his pub and hotel company collapsed

Banks refusing loans to all restaurants and pubs, says business forum

17-Jul-2009 By Becky Paskin

The Forum of Private Business has raised concerns that banks are implementing blanket bans on lending to pubs and restaurants over fears they may collapse

Gordon Ramsay Holdings finally submits 2007 accounts

05-Mar-2009 By Becky Paskin

Gordon Ramsay Holdings has finally submitted its accounts for 2007, seven months after the Companies House deadline

Profits up 13% at The Restaurant Group

04-Mar-2009 By Emma Eversham

The Frankie & Bennys owner says it is in good shape for 2009 after posting pre-tax profits for 2008 of 13 per cent