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The Restaurant Group, owner of Frankie & Benny’s and Chiquito has announced it will close at least 124 of its branches over the next six years. The news comes after reporting losses despite improvements to menus and the benefit of a weak previous year given 2018’s extreme weather and men’s football world cup.
As Boris Johnson is now Prime Minister, it looks ever more likely that the UK will leave the European Union on October 31st. Some say that as the UK is already technically in a recession that this could do further damage to the UK economy. Others, including the new Prime Minister, Boris Johnson believe that if Britain remains positive and proud, that we can achieve anything in the face of adversity.
The number of complaints lodged against British gambling companies has increased by 5000% in the last 5 years, according to BBC’s Panorama. This is apparently largely due to unpaid winnings and ‘failing to operate in a socially responsible way’.
The overall performance of the industry appears to have suffered in recent years as 131 companies out of the top 735 have been making a loss for two consecutive years.
The Plimsoll analysis gives every company in the industry a rating which ranges from ‘strong’ to ‘in danger’. The analysis of all UK gambling companies shows that 50% of the market is rated as either ‘in danger’ or ‘caution’.
With the industry’s overall performance slipping, could companies simply be trying to improve their performance and grow through other means such as stricter payout criteria or more aggressive marketing and retention strategies?
Whether this is a deliberate strategy or not, how effective it is remains to be seen and it appears to be jeopardising the industry’s reputation.
With news that retail sales have fallen by the most on record in May, Plimsoll has taken a look at the longer term trends in how UK Retailers are generating sales and profits from their investment.
Eddie Stobart who recently suspended trading of shares after a multi-million pound accounting error that saw the firm’s profits shrink to a level which the Board has described as the ‘low end of expectation’, has been approached for potential buy-out by Dbay Advisors.
The road haulage firm started the year with an impressive performance, defying potential Brexit concerns with the prospect of a March departure, but suffered after a multi-million pound accounting error saw a decline in share performance. This could be what has motivated the firm that hold the third-largest share in Eddie Stobart to begin buy-out negotiations.
Plimsoll’s Road Haulage industry analysis shows consistent improvement in Eddie Stobart’s overall financial rating from 2014 to 2017. The company also came 7th in the industry for pre-tax profits, and 3rd in total sales in the industry back in 2017.
Sports Direct have recently made an offer to purchase Goals Soccer Centres for just under £4million.
As the number of people in employment in the UK sees its biggest decline in four years and wage growth stalls once again, the expected impact on the UK Recruitment industry should look to be troublesome. With the workforce having shrunk, and the UK recruitment industry being dependent on it, the going is likely to get tough in the industry. Or is it?
The EasyHotel founder has urged shareholders of the company to reject a £137.8million takeover deal which the board of directors has recently agreed.
Back in May, we reported that there may be a hidden opportunity lost in the noise of the ongoing troubles at Thomas Cook PLC.
Back in August, Plimsoll looked at the prospect of acquiring the shipbuilding company famous for constructing the HMS Titanic, Harland & Wolff.