As previously announced on 4 August 2020, Pizza Express today formally launched a proposal to reduce its UK restaurant estate and rental cost base via a company voluntary arrangement. The CVA is intended to improve the operational performance of the business against the backdrop of a challenging trading performance, difficult market conditions caused by the COVID-19 crisis and … [Read more...]
Dining in and dining out, a shared experience review
Chancellor Rishi Sunak inventively and commendably launched the “Eat Out To Help Out” incentive to encourage diners to dine out this month at participating cafes, pubs and restaurants. By way of an overview of the offer, which does appear to have caused some confusion: ''eat out to help out'' offered people of the UK a discount of up to 50% when eating or drinking (soft … [Read more...]
Amazon takes first 16% step forward in acquiring Deliveroo
Amazon has been cleared by the UK Competition and Markets Authority to acquire a 16% interest in Deliveroo. The CMA’s investigation into the deal centred on concerns Amazon entering the UK restaurant delivery market would stifle competition. Amazon agreed to pay £440 million for the 16% share of Deliveroo. Concluding the investigation the CMA approved the investment … [Read more...]
Pizza Express for sale
Pizza Express has today announced that agreement has been reached with certain of its secured creditors and its majority shareholder, Hony Capital, for a holistic recapitalisation and restructuring transaction which will significantly strengthen the Group and provide funding to deliver its future growth plan. The planned restructuring will both address the … [Read more...]
Apple acquires restaurant payment app for $100 million
Apple has acquired Mobeewave in a move that continues the global adoption of cashless payment from cards to smartphones. The deal follows others where Apple’s strategy is to integrate smart startup apps into its own technology. The price of $100 was reported by Bloomberg sources close to the deal and further adds simple and significant functionality to iPhones. By … [Read more...]