The restaurant operator behind the Wagamama and Frankie & Benny’s brands bolstered its financial position by launching a £175 million equity raising after “a grim 12 months” of widening losses.The
Just Eat Takeaway threw down the gauntlet to rivals as it announced a rapid surge in demand from customers stuck at home.
The FTSE 100 food delivery company, the world s largest online takeaway platform, said UK orders rose 88 per cent in the first two months of 2021 as lockdown boosted business.
That followed a 35 per cent rise in orders to 179m in the UK last year, which pushed revenues up 42 per cent to £619million.
Just Eat, which is the world s largest online takeaway platform, said UK orders rose 88 per cent in the first two months of 2021 as lockdown boosted business
Group sales, across all the countries where it operates, jumped 54 per cent to £2billion as the number of orders rose 42 per cent to 588m.
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The restaurant operator behind the Wagamama and Frankie & Benny’s brands has bolstered its financial position after “a grim 12 months” by announcing a £175 million equity raising.The Restaurant Group
Wagamama owner to raise £175m
Hospitality group posts 57pc plunge in total 2020 sales to £459.8m after months of enforced closures
10 March 2021 • 4:28pm
The owner of Wagamama will tap shareholders for £175m as it seeks to shore up its finances ahead of reopening and grow the business further with a focus on suburban locations and delivery outlets.
The Restaurant Group (TRG), which also owns Frankie & Benny s, said that while the performance of its delivery and click-and-collect services had been extremely encouraging , its near-term outlook remains uncertain with trading disrupted as the shutdown persists.
The London-listed group said sales plunged 57pc to £459m last year after its restaurants were forced to close their doors for months on end.