JD Wetherspoon raises £141m, Tim Martin’s stake diluted to 28%: JD Wetherspoon has successfully placed 15,668,430 new ordinary shares at a price of 900p per share. Concurrently with the placing, certain directors, including John Hutson … view

Chesterford Group CEO – we re-engineered our business model in a week: James Lipscombe, chief executive of the Chesterford Group, which operates 40 sites under brands including Churchill’s and Bankers Fish & Chips, has told Propel the … view

JD Wetherspoon to raise £141m in share placing, expects to reopen pubs in late-June: JD Wetherspoon intends to raise £141m through a share placement as it attempts to tackle the economic impact from the coronavirus crisis and related re … view

Busaba appoints advisors to explore options: Busaba, the Thai chain founded by Alan Yau, has appointed advisors as it looks at securing new investment or a buyer, Propel has learned. The Terry Harrison-led group, which operates 13 sites i … view

Furlough extension plan for workers in struggling sectors: Workers in the parts of the economy worst affected by coronavirus could be furloughed for longer than others under Treasury plans to gradually remove taxpayer wage support, writes … view

Luke Johnson – ‘I fear for this industry’: Sector investor Luke Johnson has said he fears for the future of the hospitality industry, and of the businesses he had spoken to about possible investment “a lot are very frightened”. … view

Wagamama announces phased return for delivery operation: Wagamama, The Restaurant Group-owned brand, has announced plans for a gradual return for its delivery operation. Closely following government and expert medical advice, the brand ha … view

Pho co-founder – opening with social distancing measures in place could be catastrophic: Stephen Wall, co-founder of Vietnamese concept Pho, has said opening pubs and restaurants with social distancing measures in place “could be cata … view

“You’re a kite dancing in a hurricane, Mr Bond.” I’m not one for quoting lines from James Bond films, but taking in the current landscape of the UK’s hospitality industry, this one fro … view

Gaps in level of support for sector businesses highlighted in UKHospitality survey: Gaps in the level of support being provided to sector businesses has been highlighted in a new survey by UKHospitality. About half (48%) of businesses hav … view

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Douglas Jack – Loungers has enough liquidity to sustain site closures until next March, should emerge from crisis to ‘resume sector leadership’: Peel Hunt leisure analyst Douglas Jack has said cafe bar brand Loungers has enough liqu … view

Government to protect businesses from aggressive rent collection: The government has announced high street shops and other companies, including those in the hospitality sector, that are “under strain” will be protected from aggressive … view

CMA clears £6.2bn merger between Just Eat and Takeaway.com: The Competition and Market Authority (CMA) has cleared the £6.2bn merger between Just Eat and Takeaway.com. The CMA stated: “Takeaway.com operates in 11 countries overseas, i … view

Just Eat UK MD – crisis might lead to a further paradigm shift for delivery: Andrew Kenny, managing director of Just Eat UK, has told Propel the coronavirus crisis might lead to a further paradigm shift for the delivery channel and excl … view

Two-thirds of hospitality business ‘will not survive three more months of lock-down’: Two-thirds (66%) of hospitality businesses do not think they will survive three more months of lock-down measures while 87% will cease operations wi … view

Sector leaders back plans for Chancellor over steps to save businesses: Sector leaders, including Pret A Manger chief executive Pano Christou and Prezzo chair Karen Jones, have signed a letter written by London Union chief executive Jonat … view

Karen Jones in talks to take back handful of Food & Fuel sites: Karen Jones, the executive chair of Prezzo, is in talks to take back up to five of the 12 Food & Fuel sites The Restaurant Group (TRG) placed into administration last month, … view

NWTC appoints Jesper Friis as new CEO as Hill steps down: Graphite Capital-backed pub restaurant group The New World Trading Company (NWTC) has appointed Jesper Friis as its new chief executive as it prepares for renewed growth when gover … view

Sector faces another crucial week as Gove confirms it will be among last to reopen: The UK’s hospitality sector is facing another key week with it preparing to lay out its case for further government support, as cabinet office minister … view

CMA provisionally clears Amazon’s investment in Deliveroo to ensure its survival: The Competition and Markets Authority (CMA) has provisionally cleared Amazon’s investment in Deliveroo after the delivery firm revealed to the watchdog … view

Downey to submit sector rent-free proposal to government: Jonathan Downey, chief executive of London Union and founder of the Hospitality Union initiative, has said he will submit a formal proposal to the Treasury next week for a nine-mon … view

Murdoch – Burger King reopenings will provide important lessons on the way forward: Alasdair Murdoch, chief executive of Burger King UK, has told Propel the brand’s decision to reopen four sites for delivery only will provide it with … view

Exclusive – Le Pain Quotidien UK put on market: Belgian restaurant and boulangerie brand Le Pain Quotidien UK has been placed on the market, with final offers for the 26-strong business sought by 22 April, Propel has learned. It is unde … view

Bids in for Carluccio’s sites: A number of parties have an expressed an interest in acquiring parts of Carluccio’s out of administration, Propel has learned. Bids were due in yesterday evening for the business, which was placed into a … view

Wasabi refutes report casting doubt on future, like-for-likes up 5% pre-coronavirus crisis: Wasabi, the sushi and bento chain led by Henry Birts and backed by Capdesia, is confident the business is well placed to bounce back strongly when … view

Peter Backman – foodservice sector losing sales to retail market at rate of about £1bn a week: The foodservice sector is losing sales to the retail market at the rate of about £1bn a week, according to industry analyst Peter Backman. … view

Unprecedented, troublesome times. A pandemic that has casually and ruthlessly killed thousands, has triggered a global shut-down that will have incalculable human and economic consequences. Hospita … view

UKHospitality – chancellor needs to make ‘one more big, bold intervention’: UKHospitality chief executive Kate Nicholls has told Propel the chancellor needs to make “one more big, bold intervention” as sector companies “hold o … view

Government considering action against landlords not supporting tenants: The government is considering taking action against landlords that are placing unreasonable demands on their tenants and pursuing other means of debt recovery. Propel … view

Greggs to access £150m under government CCFF scheme: Food-to-go retailer Greggs has said it is accessing £150m under the government’s Covid Corporate Financing Facility (CCFF) scheme with a duration of 11 months. The company said the … view

McDonald’s pulls guidance as global like-for-likes fall 3.4% in first quarter, 75% of restaurants open, plans $1bn capex reduction: McDonald’s has pulled its guidance for 2020 and beyond with chief executive Chris Kempczinski warning … view

The current coronavirus crisis has led us into extraordinary times with operators and authorities all having to move at great pace to try to adapt. We’v … view

Everyman to bolster balance sheet with £17.5m placing: Everyman Media Group, the independent, premium cinema group, is to conduct an accelerated book-build placing to raise gross proceeds of up to £17.5 million, at a price of 100 pence … view

Sector urges government to reconsider excluding tronc payments from CJRS: UKHospitality has urged the government to reconsider its decision to exclude tronc payments from the Coronavirus Job Retention Scheme (CJRS). The call came as Londo … view

If our involvement in foreign wars has taught us anything it is that it’s a lot easier to get into a war than it is to get out of one. Modern generals ask: “What’s the exit strategy?” b … view

Cineworld – all 787 cinemas now closed: Cineworld has reported that its entire estate of 787 cinemas in ten countries has been closed as a result of covid-19, ‘a situation impossible to imagine a few months ago’. The company added: … view

Downey – we need a nine-month rent free measure, time to help suppliers: London Union founder Jonathan Downey, who is campaigning alongside UKHospitality for government sector concessions, has told Propel the industry should be seeking … view

A colossal train crash is happening in slow motion, right now.

The UK retail and leisure property market has been over-inflated for years. Since I began runnin … view

The Restaurant Group unveils increased bank facility flexibility and pay cuts: The Restaurant Group has announced increased flexibility in its banking facilities, executive pay cuts and changes to its board composition. The company stated … view

Famous Brands pulling funding signals ‘death knell’ for GBK: Analysts in South Africa, the home country of Gourmet Burger Kitchen (GBK) owner Famous Brands, have said its decision to pull the investment plug on the UK restaurant chain … view

Fuller’s updates on coronavirus position: Pub operator Fuller’s has reported it has placed the vast majority of its employees in furlough, retaining a small number in key positions to maintain critical functions and deliver the year-e … view

Pubcos sign declaration to protect certain tenant rights amid coronavirus emergency: The Pubs Code adjudicator (PCA) has announced the six regulated pub-owning businesses (POBs) have signed a formal declaration that serves to protect cert … view

Future of GBK in doubt after Famous Brands pulls plug on investment: The future of Gourmet Burger Kitchen (GBK) is in doubt after parent company Famous Brands pulled the plug on its investment. Famous Brands stated: “Shareholders are re … view

UK Hospitality: Proposed changes to CBIL scheme still not enough for majority of sector: Kate Nicholls, chief executive of UK Hospitality, has said that changes to the Coronavirus Business Interruption Loan scheme (CBIL) would be welcomed … view

Benito’s Hat placed into administration: Pico’s, the parent company of Benito’s Hat, the Mexican restaurant brand that underwent a company voluntary arrangement (CVA) last summer, has been placed into administration. Irvin Cohen and … view

Sandpiper pulls out of Randalls deal: Investment company Sandpiper has pulled out of a deal to buy the Randalls Group of Guernsey because of coronavirus. Sandpiper’s board says the effects of covid-19 and the uncertainty for the future, … view

Pubs to trade as food shops as Greene King, Admiral Taverns and St Austell sign up to national initiative: A ground-breaking national initiative will enable pubs to trade as food shops offering essential items such as bread, eggs and milk … view