For the first time since May the Office for National Statistics is reporting a rise in the number of Covid-19 infections in England, estimating last week there were circa 4,200 new infections a day, compared with 2,800 just over two weeks ago. The news prompted Prof Chris Whitty, the UK's chief medical adviser, last Friday to say: "I think what we're seeing from … [Read more...]
Christie’s online wine auction reaches new record levels
Christie’s New York wine department’s latest single owner online-sale saw global participation with registered bidders from 27 countries. Throughout the sale there were 76 world auction records set. The Benjamin Ichinose Collection of Fine and Rare Wines, (July 16-31) totalled $2,340,800, the highest total ever achieved for an online wine sale at Christie’s, with 98% sold by … [Read more...]
Pizza Hut and Wendy’s largest US franchisee ponders potential break up sale
NPC, Pizza Hut’s single largest franchisee in the US filed for bankruptcy earlier this year with debt of circa $900 million and is now seeking debt protection. NPC is also the largest franchise operator of Wendy’s in the US. The debt protection process is now disclosing a number of issues and difficulties between NPC and Yum Brands, who seem unwilling to help NPC and are … [Read more...]
Burger chain Byron acquired by Calveton
Burger chain Byron has been immediately acquired upon entering administration for an undisclosed sum. The acquisition will see Calverton take on only 20 of the 51 Byron restaurants with no details of the prospects of the remaining 31. Byron has for years flirted with financial difficulties and only two years ago used a company voluntary arrangement to close 20 restaurants to … [Read more...]
Epiris – The Big Table – acquires Las Iguanas, Bella Italia and Café Rouge
A new business formed by private equity firm Epiris has successfully concluded a deal to take control of the Las Iguanas, Bella Italia and Café Rouge restaurant businesses, in concert with the existing management team led by CEO James Spragg. In a process handled by AlixPartners, the business formerly known as Casual Dining Group was acquired from administration, preserving … [Read more...]