الإفصاح عن ترسيه عقد لأحدى شركاتنا التابعة مع وزاره الدفاع البريطانيه في مملكة البحرين

نموذج الإفصاح عن المعلومات الجوهرية تفاصيل الجهة التفاصيل اسم الشركة المدرجة : شركة بيوت القابضة تاريخ التقديم/الإرسال : 04/10/2026 نموذج الإفصاح عن المعلومات الجوهرية الموضوع *: توافر معلومات جوهرية تتعلق بالشركات التابعة والزميلة للشركة المدرجة لها انعكاس مؤثر على مركزها المالي عنوان المعلومة الجوهرية * : الإفصاح عن ترسيه عقد لأحدى شركاتنا التابعة مع وزاره الدفاع البريطانيه في مملكة البحرين تاريخ حدوث المعلومة الجوهرية * : 04/10/2026 المعلومة الجوهرية * : يسرنا أن نحيطكم علماً بأن شركة بيت الموارد الكويتي (ش.م.ك.م) والتابعة لشركة بيوت القابضة (ش.م.ك.ع)، قد تسلّمت إخطاراً رسمياً من وزارة الدفاع في المملكة المتحدة يفيد بترسية العطاء المقدم من الشركة لتقديم خدمات أسطول المركبات للجيش البريطاني في مملكة البحرين وذلك لمدة ثلاث سنوات بقيمة إجمالية تبلغ 1,500,000 دولار أمريكي تقريباً وبما يعادل 462,000 (اربعمائة واثنين وستون ألف دينار كويتي لا غير) . وتجدر الإشارة الى ان عملية الترسية حالياً ضمن فترة التوقف الإلزامية والتي تنتهي في 13 أكتوبر 2026 وسيتم بعدها توقيع العقد. أثر المعلومة الجوهرية على المركز المالي للشركة * : لا يوجد أثر مالي على الشركة في الوقت الحالي وسينعكس الأثر المالي على البيانات المالية أثناء فترة تنفيذ العقد المرفقات : كتاب الافصاح.pdf ملاحظات : يتم ذكر الأثر على المركز المالي في حال كانت المعلومة الجوهرية قابلة لقياس ذلك الأثر، ويستثنى الأثر المالي الناتج عن المناقصات و الممارسات وما يشبهها من عقود. إذا قامت شركة مدرجة من ضمن مجموعة بالإفصاح عن معلومة جوهرية تخصها ولها انعكاس مؤثر على باقي الشركات المدرجة من ضمن المجموعة، فإن واجب الإفصاح على باقي الشركات المدرجة ذات العلاقة يقتصر على ذكر المعلومة والأثر المالي المترتب على تلك الشركة بعينها. يتحمل من أصدر هذا الإفصاح كامل المسؤولية عن صحة المعلومات الواردة فيه ودقتها واكتمالها، ويقر بأنه بذل عناية الشخص الحريص في تجنب أية معلومات مضللة أو خاطئة أو ناقصة، وذلك دون أدني مسؤولية على كل من هيئة أسواق المال وبورصة الكويت للأوراق المالية بشأن محتويات هذا الإفصاح، وبما ينفي عنهما المسؤولية عن أية أضرار قد تلحق بأي شخص جراء نشر هذا الإفصاح أو السماح بنشره عن طريق أنظمتهما الالكترونية أو موقعهما الالكتروني، أو نتيجة استخدم هذا الإفصاح بأي طريقة أخرى

United Kingdom · 4 Oct

EFG Hermes Facilitates Kazyon’s Landmark Acquisition of Dukan

EFG Hermes announced the successful conclusion of a merger and acquisition (M&A) deal for Kazyon, a prominent MENA-based discount retailer. In this transaction, Kazyon acquired a 50% stake in Dukan, the sole discount retailer in Saudi Arabia, marking its strategic entry into the Saudi market. The remaining 50% stake in Dukan will be retained by the existing shareholder, Al Dabbagh Group. The Group General Counsel at EFG Hermes is Mohamed Gabr (pictured) Dukan, a fast-growing convenience retail grocery company in Saudi Arabia, was founded in 2013 by Al-Dabbagh Group. It has over 100 neighbourhood stores across Jeddah, Makkah, and Al Taif, with plans to expand to Riyadh. Karim Galal, Managing Director at EFG Hermes’ Investment Banking Division, expressed pride in facilitating Kazyon’s acquisition of Dukan. He highlighted that the transaction aligns with their strategic objective of expanding their presence in Saudi Arabia and underscores their capability to lead transformative transactions. Kazyon, established in 2014, has emerged as a distinguished player in the regional discount retail sector, with over 1,000 stores in Egypt and Morocco. This acquisition marks a significant milestone in Kazyon’s ongoing regional growth endeavours, which included the successful introduction of Kazyon in Morocco in 2023.

19 Feb 2024

شركة Kazyon الرائدة في مجال بيع منتجات البقالة بالتجزئة بأسعار مخفضة في العالم العربي وإفريقيا، تستحوذ على 50% من أسهم شركة Dukan، معززةً بذلك نفوذها في المملكة العربية السعودية

(BUSINESS WIRE)-- أكملت اليوم Kazyon Limited، الشركة الأم لشركة Kazyon في المملكة المتحدة، صفقة الاستحواذ على 50% من حصة رأس مال شركة Dukan مقابل 250 مليون ريال سعودي، معززةً بذلك أعمالها في المملكة العربية السعودية التي تعد أكبر سوق بيع لمنتجات البقالة بالتجزئة في المنطقة بحجم مبيعات سنوية قيمتها نحو 40 مليار دولار أمريكي. تأسست Dukan في عام 2013 وتضم تحت مظلتها أكثر من 100 متجر، إلى جانب أنها الشركة الوحيدة المتخصصة في بيع منتجات البقالة بالتجزئة بأسعار مخفضة في المملكة العربية السعودية. وقد جرت هيكلة عملية الاستحواذ عن طريق زيادة رأس المال، مما يسمح باستخدام رأس المال المستثمر لتسريع وتيرة طرح متاجر Dukan، وفي ظل اختراق القنوات التجارية الحديثة بنسبة تقدر بنحو 50% فحسب، فإن سوق المملكة العربية السعودية تتيح مجالاً كبيرًا لتحقيق النمو. تجدر هنا الإشارة إلى أن النهج الذي تتبعه شركات بيع المنتجات بأسعار مخفضة في السوق يعتمد على تعطيل الأنماط التشغيلية التجارية الحديثة التقليدية، مع الحصول أيضًا على حصة سوقية من التجارة التقليدية. منذ تأسيسها في عام 2014 على يد السيد، حسن هيكل، التزمت شركة Kazyon بضخ المنتجات ذات الأسعار المعقولة باستمرار في الأسواق التي تعاني نقص هذه المنتجات، إضافةً إلى ذلك، حققت الشركة نموًا سريعًا جعلها الآن تتصدر مشهد بيع منتجات البقالة بالتجزئة بأسعار مخفضة في كل أنحاء العالم العربي وإفريقيا مسلحةً بأكثر من 1,000 متجر. كما تضع Kazyon نصب أعينها هدف أن تكون من بين الشركات الثلاث الأولى في المملكة العربية السعودية والمغرب بعد أن أصبحت أكبر شركة بيع منتجات بقالة بالتجزئة في مصر. ومن المتوقع أن تمتلك Kazyon شبكة تضم أكثر من 5,000 متجر في الأعوام الخمسة القادمة في كل أنحاء المملكة العربية السعودية ومصر والمغرب. أما من ناحية الدعم، فستعول Kazyon على مقوماتها اللوجستية الشاملة التي تعمل على تحقيق تكامل تام بين مراكز التوزيع وأسطول مركبات النقل والمتاجر. إلى جانب السيد، هيكل، فإن شركة Kazyon Limited مملوكة لصندوق ثروة سيادية عالمي رائد ومؤسسات تمويل التنمية (DFIs) الكبرى ومنصات الأسهم الخاصة في الأسواق الناشئة البارزة (ومنها: Development Partners International وFIM Capital وSango Capital) والمكاتب العائلية الإقليمية من بين جهات أخرى. تتوافق خطة الاستثمار في Dukan مع خطط Kazyon التوسعية، إذ ستسهم في تقديم منصة إقليمية أكثر تنوعًا. علاوةً على ذلك، من المتوقع تحقيق مكاسب كبيرة، بما في ذلك عن طريق اتفاقيات شراء الموردين ومشاركة أفضل الممارسات وغيرها. صرح السيد، حسن هيكل، رئيس شركة Kazyon ومؤسسها، قائلاً: "تمثل صفقة الاستحواذ علامة فارقة في تاريخ Kazyon، إذ إنها ستسهم في تسريع وتيرة النمو والتوسع في المملكة العربية السعودية التي تعد واحدة من أسواق بيع منتجات البقالة بالتجزئة الأكثر جاذبية في المنطقة. لذا، فنحن يحدونا بالغ الحماس إزاء مد نفوذنا في المملكة العربية السعودية. وبالنسبة للتمويل، فقد جرى تمويل الصفقة عن طريق مساهمة صندوق ثروة سيادية عالمي في هيكل رأس مال Kazyon، في إطار سعينا الدؤوب لترسيخ مكانتنا كشركة رائدة في مجال بيع منتجات البقالة بالتجزئة في المنطقة." قدمت الخدمات الاستشارية إلى شركة Kazyon، شركة Evercore Partners وEFG-Hermes وWhite & Case وPWC. النهاية نبذة عن Kazyon تأسست شركة Kazyon في عام 2014 على يد السيد، حسن هيكل، وهي أكبر شركة بيع بالتجزئة بأسعار مخفضة في العالم العربي وإفريقيا، إذ تضم تحت مظلتها حاليًا أكثر من 1,000 متجر وتضم بين جنباتها أكثر من 7,000 موظف. إضافةً إلى ذلك، عمدت Kazyon إلى تعزيز مد نفوذ متاجرها باطراد في الأعوام الأخيرة، بدعم من مقوماتها اللوجستية الشاملة التي تعمل على تحقيق تكامل تام بين مراكز التوزيع وأسطول مركبات النقل والمتاجر. توفر Kazyon سبل الوصول إلى منتجات عالية الجودة بأسعار معقولة لملايين العملاء، متوفرة عن طريق شبكة من المتاجر المحلية المتسقة والمتميزة، كما تطبق حاليًا واحدًا من أكبر برامج الولاء في العالم العربي وإفريقيا. إلى جانب مؤسسها السيد، حسن هيكل، تحظى Kazyon بدعم من قاعدة من المستثمرين، بما في ذلك Development Partners International وFIM Capital وSango Capital وSouth Suez Capital وBritish International Investment وصندوق ثروة سيادية عالمي ومكاتب استثمارية إقليمية، من بين جهات أخرى. نبذة عن Dukan تأسست Dukan في عام 2013، وهي الشركة الوحيدة المتخصصة في بيع منتجات البقالة بالتجزئة بأسعار مخفضة في المملكة العربية السعودية. يعمل حاليًا تحت مظلة Dukan أكثر من 100 متجر في ثلاث مدن كائنة في منطقة مكة المكرمة تضم بين جنباتها ما يزيد عن 500 موظف. إضافةً إلى ذلك، تقدم حاليًا Dukan خدمات متميزة لأكثر 50,000 عميل يوميًا، إذ توفر مجموعة كاملة من منتجات البقالة الأساسية ومجموعة متنوعة من المنتجات ذات العلامات التجارية الخاصة بأسعار مخفضة. www.kazyon.com www.dukan.me إن نص اللغة الأصلية لهذا البيان هو النسخة الرسمية المعتمدة. أما الترجمة فقد قدمت للمساعدة فقط، ويجب الرجوع لنص اللغة الأصلية الذي يمثل النسخة الوحيدة ذات التأثير القانوني.

6 Feb 2024

تابعة لـ"الصالحية" تبيع عقاراً في المملكة المتحدة

الكويت - مباشر: أعلنت شركة الصالحية العقارية قيام إحدى شركاتها التابعة ببيع عقار في المملكة المتحدة البريطانية بقيمة 3.92 مليون جنيه إسترليني (1.63 مليون دينار). وأوضحت الصالحية في بيان لبورصة الكويت، اليوم الأحد، أن عملية البيع تمت من خلال شركة ويلفورد لين للتطوير العقاري وهي شركة لعمليات مشتركة ومجمعة في المملكة المتحدة، تمتلك فيها الصالحية 50%. وكشف البيان أن ربح الصالحية من تلك الصفقة بلغ 227.24 ألف دينار، على أن يتم إدراج ذلك الربح في البيانات المالية للربع الأول من 2021. وكانت أرباح "الصالحية" تراجعت بنحو طفيف نسبته 1% في العام الماضي، لتصل إلى 21.313 مليون دينار، مقابل أرباح عام 2019 البالغة 21.515 مليون دينار.

United Kingdom · 13 Feb 2021

Commercial element of West Bridgford scheme sold in £4m deal

Wilford Lane Developments Limited (WLDL) – the joint venture between Kuwaiti developer/investor Salhia Real Estate Co KSC and Simons Developments – has sold the commercial element of its West Bridgford mixed-use scheme in Nottingham to Quora for almost £4m. The 41,000 sq ft scheme is pre-let to Lidl, which will move into 21,000 sq ft food store, a 10,000 sq ft PureGym and 1,800 sq ft Starbucks. Around 7,500 sq ft remains available. The build is underway and scheduled for completion in the Autumn. Frank Gillespie of WLDL said: “This sale concludes the first phase of our strategy for the site, having added considerable value through the planning process and a highly successful pre-letting campaign. We will shortly be bringing the residential element of the scheme to the market.” Colliers International acted for WLDL on the sale and were joint letting agents with McMullen RE.

United Kingdom · 10 Feb 2021

Boohoo buying Debenhams: a changing of the guard in retail

Deal by 15-year-old online upstart shows how Covid crisis has further shifted sales away from high street The symbolism is stark: a venerable 243-year-old department store chain acquired by a 15-year-old online upstart. Debenhams will disappear from British high streets after its sale to Boohoo, swallowed by a company that thrives in the world of fast fashion and has become mired in controversy in the process. Boohoo has drawn criticism for poor working conditions in its supply chain but continues to make strong sales growth as it feeds a voracious consumer appetite for affordable fashion that responds quickly to shifts in taste and style. The Topman Topshop store in BrightonThe Topman Topshop store in Brighton. Asos has bought the Topshop, Topman and Miss Selfridge brands from failed retail group Arcadia in a deal said to be worth £295m. ASOS buys Topshop, Topman and Miss Selfridge brands, UK - 01 Feb 2021 Asos in talks to buy Topshop, Topman and Miss Selfridge Read more The £55m deal also marks a changing of the guard in UK retail prompted by a radical acceleration towards buying clothes, beauty products and homewares online during the pandemic. First launched in 2006, Manchester-based Boohoo has grown from a three-employee operation to a business with sales of more than £1.2bn last year and a 5,000-strong workforce. Sales jumped 40% in the run-up to Christmas as shoppers shrugged off revelations about treatment of workers in factories making Boohoo’s clothing in the UK and overseas. An investigation by the Guardian found that factories in Leicester making the company’s clothes were failing to pay workers the minimum wage and were putting the health of staff at risk during lockdown. Sir Brian Leveson, who led the phone-hacking inquiry, was drafted in to lead change at Boohoo after a damning independent review, which found that media reports of poor conditions in the company’s supply chain were “substantially true”. The Boohoo co-founder Mahmud Kamani said this month that he was proud of the speed at which his team had reacted to the supply chain scandal. But Leveson said a clean-up of the retailer’s supply chain had a “long way to go”. The issues at factories are not the only reason Boohoo has drawn criticism. Shortly after unveiling the record profits last year, Boohoo announced a controversial scheme under which its bosses could receive a £150m bonus if the company’s shares rose by two-thirds over three years. Its co-founders Carol Kane and Kamani would receive two-thirds of the payout. In May last year, Boohoo raised £200m to buy up brands and has already taken advantage of rivals’ difficulties to snap up Oasis, Warehouse, Karen Millen and Coast. It also consolidated its stake in Pretty Little Thing, giving Mahmud’s son Umar Kamani and his business partner, Paul Papworth, more than £260m for their 35% stake. The Debenhams deal is the latest in this consolidation campaign. The long-troubled department store chain has been on the radar of would-be buyers for some time. It began looking for a rescue bidder last summer after calling in administrators twice in a year. Founded in 1778, Debenhams is one of the world’s oldest department stores but has been brought down after being loaded with debt by a force in modern finance: private equity. First listed on the London Stock Exchange in the 1920s, at one time the group had more than 200 large stores across 18 countries and partnerships with some of the world’s best-known designers, including Jasper Conran and Julien Macdonald. But in recent years sales have stagnated as it struggled to cope with heavy debts built up under private equity ownership. In 2003 the group was taken over by a private equity consortium. The trio of funds, TPG, CVC Capital and Merrill Lynch, collected £1.2bn in dividends in less than three years. In 2005, 23 shops were sold for £495m, as part of an effort to pay down debts linked to the buyout. Debenhams leased the stores back, on expensive rent deals up to 35 years in length. As it struggled with those long leases and heavy debts, Debenhams lacked resources to improve the appeal of its ageing stores and was slow to shift towards selling online. While some of its in-house brands remain quite large, growth has stalled as they have not been updated sufficiently and some rely on designer names that were considered old hat a decade ago. Despite that, Debenhams’ online business takes £400m a year from 300 million visitors, making it one of the top retail websites in the UK. Analysts say the acquisition of Debenhams’ website will take Boohoo to a new level, helping it appeal to older shoppers and giving access to new markets including beauty, homewares and sportswear. Boohoo hopes to use its existing systems to take Debenhams brands such as Principles, Maine and Mantaray overseas, and improve their distribution in the UK. The company also wants to set itself up as a marketplace – similar to Amazon or Zalando – selling third-party brands for the first time using Debenhams’ existing relationships. Andrew Wade, an analyst at the stockbroker firm Jefferies, said Boohoo had “bought a lot of asset for £55m” if Debenhams’ relationships with brands were added to its expertise in beauty, homewares and sportswear. But the permanent closure of Debenhams’ remaining 124 stores will leave enormous gaps on high streets around the country and the loss of thousands of steady jobs, the majority of which were held by women. Meanwhile, Boohoo has plenty of money to pull off similar deals and says it has £387m of cash left to fund further acquisitions. The impact of coronavirus on the high street will produce many more targets.

United Kingdom · 24 Jan 2021

Bonmarché goes into administration for second time in a year

The fashion retailer Bonmarché has fallen into administration for the second time in a year as the Covid crisis among high street retailers continues to mount. The Wakefield-based retailer, which was only bought out of administration by the retail mogul Philip Day in February, sells fashion for women over 50 and has 225 shops and about 1,500 staff. The restructuring advisory firm RSM has been appointed as administrator. It said: “No redundancies or store closures have been made on appointment.” When Bonmarché entered administration in October 2019 the business employed 3,000 staff and operated 314 high street stores. The retailer closed 30 stores before Christmas that year, and before administrators agreed a rescue deal with Day. “Bonmarché remains an attractive brand with a loyal customer base,” said Damian Webb, a joint administrator at RSM. “It is our intention to continue to trade while working closely with management to explore the options for the business.” Webb is confident the business will find a buyer. “We will shortly be marketing the business for sale, and based on the interest to date we anticipate there will be a number of interested parties,” he said. Bonmarché is the latest retailer owned by Day to collapse. It enters administration during a dreadful week for the high street fashion retailers. The Debenhams department store chain announced on Tuesday it would be wound down after Christmas, with the loss of up to 12,000 jobs and the closure of 124 stores, ending a 240-year presence on UK high streets. A day earlier, Philip Green’s Arcadia Group, which owns TopShop, TopMan, Dorothy Perkins, Miss Selfridge, Evans and Burton, filed for administration, putting 14,000 jobs at risk. Last month the fashion chains Peacocks, Jaeger, Austin Reed and Jacques Vert collapsed into administration, putting almost 4,800 jobs at risk. The retailers are all part of Day’s Edinburgh Woollen Mill Group, which in October warned it was on the brink of collapse. Two other chains owned by Day, Edinburgh Woollen Mill, which specialises in knitwear and fashions for the over-50s, and Ponden Mill homewares, called in administrators at the beginning of November. Just under 900 people immediately lost their jobs and a further 2,000 roles remain at risk. Potential buyers for Day’s struggling retailers include Mike Ashley’s Frasers Group and TM Lewin’s owner, Torque Brands, which is controlled by the London-based finance group SCP Private Equity.

United Kingdom · 30 Nov 2020

Retail Cornerstones Fall in Britain, Pushed by Fast Fashion and Pandemic

LONDON The British department store Debenhams can trace its history back 242 years to a shop on Wigmore Street in central London. On Tuesday, it finally succumbed to the pressures of 21st-century e-commerce. After more than a year of restructuring and several months of trying to find a buyer, the company said it would begin shutting down. Debenhams is the second big retailer to topple in two days, after Arcadia Group, which owns brands including Topshop and Miss Selfridge, filed for bankruptcy protection on Monday. The two are also linked because Arcadia’s brands have a big footprint in Debenhams, with sections set aside for their clothes. And so, as Christmas lights flicker above the sidewalks in Britain’s downtowns and as the busiest shopping period of the year begins after a monthlong lockdown in England, the nation is watching two of its largest retailers fall. They have about 25,000 employees between them. More bankruptcies are expected, as the lockdowns have relentlessly exposed the retailers that have failed to pick up on customers’ willingness to shop online. “The retail house of cards on the high street is in danger of collapse,” said Susannah Streeter, an analyst at Hargreaves Lansdown. Britain’s fashion retailers enjoyed a golden period and were seen for a time as a source of national pride. The Debenhams evening wear department was a middle-class destination for all of life’s major celebrations. Marks & Spencer, which announced plans during the summer to lay off nearly 8,000 workers, was a byword for quality for decades, with its cotton underwear and cashmere knits a staple of British households. In the 2000s, Topshop — once considered the jewel in the crown of Philip Green’s Arcadia Group — was a genuine style authority thanks to sellout collaborations with the model Kate Moss and a vast Oxford Street emporium laden with catwalk-inspired knockoffs. But these brands have suffered for years. Fast-fashion giants from overseas, like Zara from Spain and H&M from Sweden, started selling cheaper, trendier clothes. They were followed by online-only upstarts such as Boohoo and Pretty Little Thing (similar to the American brand Fashion Nova). Geared toward young women and powered by social commerce, they offer low-priced fashion products designed to be browsed, bought and worn on social media. The pandemic has hastened the demise of brands found in Britain’s high street shopping districts. For about a third of the year, clothing stores and other nonessential retailers have been shuttered to comply with lockdowns, accelerating the move to e-commerce. Since February, online clothing sales have grown 17 percent in Britain, while in-store sales have slumped 22 percent. The old guard retailers and department stores that were too slow to invest in their online operations have found themselves grappling with the costs of real estate empires visited by fewer and fewer people. Even accounting for scores of closures in recent years, Debenhams has 124 department stores, while Arcadia has 444 stores for its brands in Britain. “Like Arcadia Group, Debenhams might have stood a better chance had its footprint of retail stores been smaller, but they were stuck with too many shops, on long leases they could not wriggle out of,” Ms. Streeter said. Many fast-fashion retailers continue to thrive throughout the pandemic because they have few or no brick-and-mortar stores. Boohoo and Pretty Little Thing generally source from British-based manufacturers in cities like Leicester. Clothes can be produced quickly and distributed faster within the country. “If you are a high street shop, you have to sell a considerable amount in order to just break even,” because of high business property taxes and rents, said Stewart Perry, a partner in the insolvency and restructuring practice at Fieldfisher, a European law firm. “They are competing with a warehouse in the back-end of nowhere.” This summer, Boohoo came under intense public scrutiny after reports that its suppliers in Leicester were paying workers as little as 3.50 pounds, or $4.40, an hour. (The national living wage in Britain for ages 25 and above is £8.72, or $10.93.) But investors had already placed their bets on Boohoo. Its share price is up 7 percent this year, while the benchmark stock index in Britain has dropped 15 percent. In the past five years, Boohoo’s share price has risen more than 800 percent. In a sign of its growing influence, Boohoo bought the rights to the onetime British fashion retailing stalwarts Karen Millen, Coast, Oasis and Warehouse after they collapsed. By this same method, parts of Debenhams and Arcadia could still be rescued. There is speculation that Boohoo might bid for some of Arcadia’s brand portfolio, particularly Topshop. In January, the consultancy Brand Finance estimated the value of Arcadia’s brands at £800 million, the bulk of which was attributed to Topshop. This week’s announcements are the latest in a slow-moving decline for both companies. Last year, Arcadia entered into a so-called company voluntary agreement in Britain, where it closed stores and renegotiated debt terms, and filed for bankruptcy in the United States. In April 2019, Debenhams went into administration, wiping out some shareholders, and did it again this April. The fact that neither company has been able to survive any longer even as the government is pouring tens of billions of pounds into shoring up businesses suggests that this trend for many retail stores is irreversible. Britain’s Treasury has ushered in a series of programs, breaks in the payment of business taxes, deferrals on sales taxes, protections from evictions, wage subsidies and grants. By one gauge, the measures have worked: Company insolvencies were 42 percent lower in October than they were a year earlier. By another, they have failed: Britain’s economy is expected to decline more than 11 percent this year, worse than almost every other advanced economy, while it has spent more than most others on its fiscal response. There are likely to be more casualties before Britain climbs out of the economic hole. “Corporate insolvencies have nearly halved at a time when obviously the economy is tanking,” Mr. Perry said. “There are an awful lot of insolvencies being stored up.”

United Kingdom · 29 Nov 2020

Caffe Nero on brink of insolvency with coffee chain blaming second lockdown

Caffe Nero is on the brink of insolvency with the company blaming the second lockdown as it becomes the latest big High Street pandemic victim. The UK's third largest coffee chain, founded in London 30 years ago, was placed into a Company Voluntary Arrangement on Thursday as it scrambles to get its finances in order. It puts 6,000 jobs across 800 stores in jeopardy - though bosses hope any closures or staff losses will be minimal. Chief Executive Gerry Ford, whose Paladin Partners took over the business in 1997, expanding it outside the capital and across the UK, said the company had no other choice. Boris Johnson announced the England-wide one-month lockdown on October 31, restricting hospitality providers to takeaways only. With office workers largely being absent from town and city centres since March, coffee shops have seen a major portion of their customer base disappear. In attempt to combat the changes, Nero offered a click and collect service and home delivery. Mr Ford, 62, a former Hewlett-Packard analyser, has called on accountants KPMG to advise on the CVA, a type of insolvency that allows firms to continue trading in the short-term. The American-born entrepreneur hopes to renegotiate rent agreements to allow the franchise to re-emerge after the pandemic. "With our dine-in facilities now closed for a second time, we have little option but to launch this CVA to safeguard the future of our business," Mr Ford told the Daily Mail. He said the chain had been trading strongly before the pandemic but "like so many businesses in the hospitality sector, the pandemic has decimated trading". The CEO said the company successfully negotiated the "financial challenges" following the initial nationwide lockdown, the but the latest one "made it imperative that we take further action". He added the aim has always been "to continue to protect jobs". Will Wright, head of regional restructuring at KPMG, described the coffee company as an "iconic brand" with a "terrifically loyal customer base". imilar insolvency steps have been used by the likes of Debenhams, Clarks, Clintons and Homebase. Critics argue CVAs are often used to squirm out of debts and force landlords to drop rents. Mr Ford originally led a small group of investors in the purchase of five central London shops with the name Caffe Nero from Ian Semp who established the name in 1990.

United Kingdom · 11 Nov 2020

Debenhams owner Celine gears up for administration

Celine UK Newco 1 Limited, the owner of department store group Debenhams, has appointed administrators to prepare for its own potential bankruptcy filing. In a notice last week, Celine Group Holdings said it had appointed Philip James Watkins and Philip Lewis Armstrong of FRP Advisory Trading Limited as administrators in respect of the company and its immediate parent company, Celine UK Newco 1 Limited. “The appointment of administrators is a consequence of the entry into administration of the primary operating company of the Debenhams’ group on 9 April 2020,” it said in a statement. The move is not expected to impact Debenhams’ trading. The retailer has been in administration since April after the Covid-19 pandemic weighed further on its finances. Earlier this month, the group announced plans to cut 2,500 jobs across its store network and distribution centre as part of its latest cost-cutting drive. To date, it has reportedly cut around 6,500 jobs and closed 20 stores. The retail group, which originally had 142 UK stores and employed around 22,000 staff, said its administrators had initiated a process to assess ways for the business to exit its protective administration. This, it said, could include the current owners retaining the business, potential new joint venture arrangements, or a sale to a third party. Investment bank Lazard is understood to be running a sale process for Debenhams, according to The Sunday Times, but sources say it is unlikely to yield offers to run the retail group as a going concern. Its biggest lender, Silver Point, could either buy the chain out of administration in a restructured form, or liquidate it, should no bids materialise, the publication says.

United Kingdom · 23 Aug 2020

Debenhams to cut 2,500 more jobs amid pandemic

This is on top of the 4,000 announced since May, meaning the retailer will have cut a third of its workforce. The cuts will be mainly across its UK stores and distribution centre, but it said no new shops were slated to shut. Shop workers' union Usdaw reacted angrily to the news, saying legal procedures had not been followed. By law, mass redundancies have to be subject to a consultation period. Usdaw said it was preparing a legal challenge on behalf of members affected. "We have been contacted by members who say they are being made redundant by conference call, with no meaningful consultation or proper notice period, as required by law," said union national officer Dave Gill. "That is an appalling way to treat staff." 'Difficult decisions' Debenhams, which is currently in administration, declined to comment but its administrators, FRP, said consultation had not been possible as the retailer was insolvent and had "limited" options. A spokesman said: "Those affected by redundancy will take no particular comfort from this, but the steps taken are in response to an unpredictable and challenging trading environment and aim to ensure the future viability of the business, while also meeting wider statutory obligations." In April, Debenhams fell into administration for the second time in a year as coronavirus heaped pressure on the business. The firm said the current trading environment for retailers was still "a long way from returning to normal". Earlier this year, it said 20 of its stores would remain permanently closed because of the impact of the pandemic. Debenhams said on Tuesday: "Such difficult decisions are being taken by many retailers right now, and we will continue to take all necessary steps to give Debenhams every chance of a viable future. "We have to ensure our store costs are aligned with realistic expectations," it added. The chain said that people affected had been informed and thanked them for their "service and commitment". "We have successfully reopened 124 stores post-lockdown, and these are currently trading ahead of management expectations," it said. Retail redundancies Debenhams could remain in administration for the rest of this year, as lenders wait to see how it performs post-lockdown and in the crucial Christmas trading period. Like many of its competitors, the retailer was already ailing before the pandemic forced it to suspend trading at its department stores. The news of the latest job cuts came after the British Retail Consortium said the number of visits to High Streets was still down significantly as people shopped online instead. The BRC said some retailers were continuing to struggle because of the coronavirus crisis. It made a fresh call for government help with rents. Other High Street names have also announced job losses as they fight to stay afloat. Last week, WH Smith said it was cutting 1,500 jobs - 11% of its workforce - after the lockdown caused sales to plummet. DW Sports, John Lewis, Marks and Spencer, Boots and Selfridges are among other big names to announce redundancies. It's less than two weeks into August and at least another 10,000 jobs have been lost as the furlough scheme starts to wind down. Here, courtesy of the Press Association news agency, is a list of some major employers that have announced that jobs will go, or are at risk, since the start of the pandemic. August 11: Debenhams - 2,500 August 7: Evening Standard - 115 August 6: Travelex - 1,300 August 6: Wetherspoons - 110 to 130 August 5: M&Co - 380 August 5: WH Smith - 1,500 August 4: Dixons Carphone - 800 August 4: Pizza Express - 1,100 at risk August 3: Hays Travel - up to 878 August 3: DW Sports - 1,700 at risk July 31: Byron - 651 July 30: Pendragon - 1,800 July 29: Waterstones - unknown number of head office roles July 28: Selfridges - 450 July 27: Oak Furnitureland - 163 at risk July 23: Dyson - 600 in UK, 300 overseas July 22: Mears - fewer than 200 July 20: Marks & Spencer - 950 at risk July 17: Azzurri Group (owns Zizzi and Ask Italian) - up to 1,200 July 16: Genting - 1,642 at risk July 16: Burberry - 150 in UK, 350 overseas July 15: Banks Mining - 250 at risk July 15: Buzz Bingo - 573 at risk July 14: Vertu - 345 July 14: DFS - up to 200 at risk July 9: General Electric - 369 July 9: Eurostar - unknown number July 9: Boots - 4,000 July 9: John Lewis - 1,300 at risk July 9: Burger King - 1,600 at risk July 7: Reach (owns Daily Mirror and Daily Express newspapers) - 550 July 6: Pret a Manger - 1,000 at risk July 2: Casual Dining Group (owns Bella Italia and Cafe Rouge) - 1,909 July 1: SSP (owns Upper Crust) - 5,000 at risk July 1: Arcadia (owns TopShop) - 500 July 1: Harrods - 700 July 1: Virgin Money - 300 June 30: Airbus - 1,700 June 30: TM Lewin - 600 June 30: Smiths Group - "some job losses" June 25: Royal Mail - 2,000 June 24: Jet2 - 102 June 24: Swissport - 4,556 June 24: Crest Nicholson - 130 June 23: Shoe Zone - unknown number of jobs in head office June 19: Aer Lingus - 500 June 17: HSBC - unknown number of jobs in UK, 35,000 worldwide June 15: Jaguar Land Rover - 1,100 June 15: Travis Perkins - 2,500 June 12: Le Pain Quotidien - 200 June 11: Heathrow - at least 500 June 11: Bombardier - 600 June 11: Johnson Matthey - 2,500 June 11: Centrica - 5,000 June 10: Quiz - 93 June 10: The Restaurant Group (owns Frankie and Benny's) - 3,000 June 10: Monsoon Accessorise - 545 June 10: Everest Windows - 188 June 8: BP - 10,000 worldwide June 8: Mulberry - 375 June 5: Victoria's Secret - 800 at risk June 5: Bentley - 1,000 June 4: Aston Martin - 500 June 4: Lookers - 1,500 May 29: Belfast International Airport - 45 May 28: Debenhams (in second announcement) - "hundreds" of jobs May 28: EasyJet - 4,500 worldwide May 26: McLaren - 1,200 May 22: Carluccio's - 1,000 May 21: Clarks - 900 May 20: Rolls-Royce - 9,000 May 20: Bovis Homes - unknown number May 19: Ovo Energy - 2,600 May 19: Antler - 164 May 15: JCB - 950 at risk May 13: Tui - 8,000 worldwide May 12: Carnival UK (owns P&O Cruises and Cunard) - 450 May 11: P&O Ferries - 1,100 worldwide May 5: Virgin Atlantic - 3,150 May 1: Ryanair - 3,000 worldwide April 30: Oasis Warehouse - 1,800 April 29: WPP - unknown number April 28: British Airways - up to 12,000 April 23: Safran Seats - 400 April 23: Meggitt - 1,800 worldwide April 21: Cath Kidston - 900 April 17: Debenhams - 422 March 31: Laura Ashley - 268 March 30: BrightHouse - 2,400 at risk March 27: Chiquito - 1,500 at risk.

United Kingdom · 10 Aug 2020

Billionaire Sheikh 'fills the water tanks of his £60m 18th century Berkshire mansion with EVIAN shipped in from France, court documents allege'

A billionaire Sheikh, whose half-brother is the owner of Manchester City football club, had Evian put into the water tanks of one his multimillion-pound mansions, according to reports. Court papers claim Sheikh Khalifa bin Zayed al-Nahyan, the president of the United Arab Emirates, had water tanks at his £60million Berkshire mansion filled with the famous mineral water, which he had shipped in from France, according to reports in The Times. But, apart from occasional day visits, the 71-year-old, who is also the current ruler, known as the Emir, of Abu Dhabi, has never occupied 18 century-built Ascot Place, near Windsor Great Park, the newspaper, quoting court documents, reports. The papers are part of a bitter High Court battle between Berkeley Square Holdings, a set of companies whose ultimate beneficial owner is Sheikh Khalifa and his family, and the British directors of Lancer Property Asset Management, the former managers of his £5.5 billion London property empire, report The Times. According to a report in the paper today, the Sheikh sacked the firm in 2017, before the management firm was replaced by an Abu Dhabi-owned company. The two sides have since been locked in a 'bitter' legal battle with lawyers representing the Sheikh, whose half-brother is Manchester City's billionaire owner Sheikh Mansour bin Zayed Al Nahyan, accusing the directors of Lancer of charging excessive fees, as well as dishonesty, it is reported. They have also accused the company of 'siphoning' of more than £30million from money received for managing Sheikh Khalifa's London property empire - said to contain at least 120 properties - say The Times. Lancer's directors have denied the allegations and are counter-suing Berkeley Square Holdings for unfair dismissal as well as unpaid fees. As previously reported by MailOnline, John Kevill, Andrew Lax and Byron Pull took legal action in 2018 claiming unfair dismissal from Astrea, the company which replaced Lancer, when they were fired on the transfer day. A fourth man, Duncan Ferguson went just days later. All four men were due to be transferred as part of the change-over of the lucrative contract. In a ruling in January this year, a tribunal judge agreed that Kevill and Ferguson had been unfairly dismissed, but Pull and Lax had not. In an appeal by the directors against part of the ruling, the judge sided mostly with Astrea, but ordered that the lower court must reconsider whether Lax and Pull were transferred over to Astrea under TUPE rules. Meanwhile, as part of the latest court papers, Lancer's directors have accused Sheikh Khalifa of 'profligacy', the Times reports. It also reports that in the documents it is claimed Sheikh Khalifa, spent more than £450,000 a year on 15 permanent staff for a country house north of Madrid - despite the Sheikh or his family not visiting for 17 years. Other claims include that the Sheikh bought a £5million house in Ham Gate, south west London, but was unable to use it because it was 'too small' for his personal security team and staff. Agents were instructed to purchase a neighbour's property, but they were knocked back by the owners, say The Times. Sheikh Khalifa is Emir of Abu Dhabi and the current president of the United Arab Emirates (UAE), a country which consists of seven emirates. These are: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah. Abu Dhabi serves as the capital of the UAE. Sheikh Khalifa has been the president of the UAE since 2004, following the death of his father Sheikh Zayed bin Sultan Al Nahyan - who was the founding father and the principal driving force behind the creation of the UAE. As well as being the president of the UAE, Sheikh Khalifa is the supreme commander of the UAE armed forces and chairman of the Abu Dhabi Investment Authority (ADAI). It manages more than £875billion in assets across the world, including many top buildings in London, Paris and New York and has a large stake in Gatwick Airport. Berkeley Square Holdings includes the Berkeley Square Estate in London and, among others, the former BHS building on Oxford Street. In 2010, the Queen presented Sheikh Khalifa with the Knight Grand Cross of the Most Honourable Order of the Bath, while he conferred on her the Order of Zayed, the UAE's highest civil decoration Sheikh Khalifa has taken a step back from public life since 2014, when he suffered a stroke. Though he is still the president, his half-brother, Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, carries out most of the public affairs and day-to-day running of the UAE. Among his other relatives including his half-brother Sheikh Mansour bin Zayed Al Nahyan, the owner of Manchester City football club. Sheikh Khalifa is thought to be worth around $18billion, while the Al Nahyan family is believed to hold a fortune of $150 billion.

United Kingdom · 20 Jun 2020

Arcadia Group cancels ‘over £100m’ of orders as garment industry faces ruin

As owner of brands including Topshop and Dorothy Perkins cancels unshipped orders, thousands will be left without income, warn rights groups. The Arcadia Group, which owns brands including Topshop, Dorothy Perkins and Miss Selfridge, is estimated to have cancelled in excess of £100m of existing clothing orders worldwide from suppliers in some of the world’s poorest countries as the global garment sector faces ruin. According to data from the Bangladesh Garments and Manufacturing Association (BGMEA), the Arcadia Group has cancelled £9m of orders in Bangladesh alone. The Worker Rights Consortium (WRC), a labour rights group based in the US, says it believes that the Arcadia Group will have cancelled “well in excess of £100m” of orders across its global supply chains. It currently sources only 5% of its clothing orders from Bangaldeshi suppliers. ‘“The effect of order cancellations like Arcadia’s, which we estimate will cost Arcadia’s suppliers more than £100m, is to force suppliers into bankruptcy and to leaves thousands of workers without income,” says Scott Nova, executive editor at WRC. The Arcadia Group declined to comment. WRC also estimated that collectively global brands have potentially cancelled in excess of £20bn of orders worldwide not just from Bangladesh but from other major garment producing countries such as Cambodia, Sri Lanka and Vietnam. In recent weeks, retailers have been accused of abandoning their garment workforce at a time when many lower-income countries will struggle to provide economic safety nets for millions of low-paid workers. Last week Arcadia Group, owned by Sir Philip Green, rowed back on the wholesale cancellation of all existing orders. In a letter to suppliers seen by the Guardian, it said that although it had a “contractual right” to cancel orders that had already been shipped, it would accept those that were in transit on 17 March at a 30% discount. However, all other orders, including clothing that had already been made but had not been shipped, will be cancelled. It is unclear whether the group will agree to pay for raw materials already purchased by suppliers. Primark announces wage fund for garment workers Read more In the letter, the group told suppliers it needed to cancel orders because “customers will not be willing to buy spring goods out of season” and that it would not be able to accept any new stock while its shops remain closed. In recent weeks, global retailers including Primark, Matalan and Edinburgh Woollen Mill have cancelled billions of dollars of orders from their overseas suppliers. Data from the BGMEA shows that over £2.4bn of orders have been cancelled or suspended in Bangladesh, leading to over 1 million garment workers losing their jobs or being sent home without pay. In other major garment-producing countries such as Myanmar, Cambodia and Sri Lanka, hundreds of factories are closing every week and garment workers left without pay as western fashion brands scramble to recoup losses down their supply chain. “The Covid-19 pandemic has really exposed the fallacy of the narrative that fashion brands don’t have a direct relationship to the millions of workers in their supply chains,” says Thulsi Narayanasamy, head of labour at the Business & Human Rights Resource Centre. “It’s an incredible demonstration of the impunity and power imbalance that lies at the heart of this industry.” A factory owner in Bangladesh said that Arcadia’s decision to cancel orders will lead to further job losses as millions of garment workers face destitution. “Their decision to cancel on top of all the other retailers will mean workers lost their jobs,” says Mostafiz Uddin, the chief executive of the Bangladesh Apparel Exchange and managing director of Denim Expert, a clothing company that supplies international brands including Topshop in the UK. “What has made their cancellation more harmful is the demand for discounts. This places huge pressure on suppliers like myself in terms of cash flow. We as suppliers expect and accept business disruption at the present time. However, some buyers, including Arcadia, have handled this extraordinarily badly, with absolutely no concern for the financial welfare of their suppliers and implications for their workers.”

United Kingdom · 13 Apr 2020

Salhia International Investments Ltd, a Jersey based company and a wholly owned subsidiary, has been created to benefit from the current UK tax regime, and to acquire the shareholding of Ingleby (1733) Ltd. Ingleby owns properties in central Birmingham which are being held for a major mixed use city centre development. Birmingham is one of England’s most important cities outside of London with a population of over 2 million people and a total catchment of around 20 million people within 1 hour’s drive of the City centre. The Birmingham project, known as The Beorma Quarter, Digbeth, is a major potential central city regeneration project. It will comprise a mixed use office, hotel and residential development close to the centre of Birmingham and adjacent to the Bull Ring Shopping Centre, a 93,000 m2 prestigious scheme which is acknowledged as one of the most successful shopping centre schemes in the UK and includes Selfridges, an iconic and widely known building. A formal planning application was submitted in February 2009 to Birmingham City Council and a resolution to grant consent was given at Committee in May with final approval following Judicial Review granted unanimously in November 2009. The scheme will provide space in excess of 59,500 m2 gross. This is an important and historical site and the proposed project fits into the Birmingham Big City plan. Salhia’s involvement of a development of this scale has been warmly welcomed by Birmingham City Council and all other relevant stakeholders. Construction is proposed to be carried out in phases, commencing towards the end of 2010.

17 Dec 2019

Links of London: Jobs at risk as firm goes into administration

The retailer, which has its headquarters in Mayfair, has appointed Deloitte as administrators to try to secure a rescue sale. Links has 28 standalone stores and seven concessions in the UK and Ireland. They will remain open but the company's website has been suspended. Deloitte said the firm had struggled during "difficult trading conditions". The British brand was founded in 1990 and sells luxury jewellery, watches, cufflinks and gifts. It is owned by Greek company Folli Follie, which is also facing difficulties over a fraud related to overstating sales. Deloitte said that "in light of ongoing cash flow pressures", the firm's directors were left with "no choice" but to place it into administration. Matt Smith, joint administrator for Links of London, said the move would be "difficult news for employees and their families". "We appreciate the support of management and we will continue to support employees through this time," he said.

United Kingdom · 8 Oct 2019

Pizza Express set for talks over £1bn debt pile

The 470-store chain made losses for the last two years as its operating profits were more than offset by high interest payments on its £1.1bn debt pile. Sales in the UK and in its 150 overseas restaurants both fell last year. Founded in 1965, Pizza Express employs 14,000 people and is now owned by Chinese private investment firm Hony. The Chinese company bought it from UK private equity firm Cinven in 2014. Few companies emerge from private equity deals without being laden with borrowing. Interestingly, Pizza Express uses exactly the same font and layout for its financial statements as it does for its menus. Unlike the menu, however, there are some quite unappetising items in its financials. Most off-putting of all, of course, is the enormous debt number. The interest on that £1.1bn is costing the company £93m a year, which wiped out all its operating profit last year - and then some. In fact, the debt payments have pushed Pizza Express into the red for the last two years with a loss of £55m last year alone. 'No imminent danger' The frustrating thing for the business is that it is making a reasonable amount of cash. It's for that reason, its auditors were happy to conclude the chain is a viable going concern when it signed off its accounts in April this year despite the company's debts being worth more than its assets. To be clear, Pizza Express is not in imminent danger of going bust. It has until 2021 before it needs to start paying back £600m to its outside creditors. (The other £500m is a loan from its Chinese owners). But debt is a serial company killer - just ask Carillion or Thomas Cook. It can suffocate a company, so the earlier you try and address the issue the better. Bonds in Pizza Express are selling for 84p for every £1 worth of loan. That means that investors do not think those lenders will get all their money back. The casual dining sector is littered with names which have been through some sort of insolvency process. Prezzo, Byron, Carluccio's needed to close stores and ask creditors to agree to rent reductions, while Jamie's Italian went bust. If Pizza Express is going to last another 50 years some sort of debt restructuring looks inevitable. Getting it done in a brutal high street environment will not be straightforward.

United Kingdom · 5 Oct 2019

"بنسبن" و" قبازرد" للاستشارات الهندسية: عقد للإشراف على 5 محطات كهربائية في الكويت

وقعت كل من شركة "بنسبن" (Penspen) المتخصصة في خدمات الهندسة وإدارة المشاريع في قطاع الطاقة، وشركة جاسم قبازرد للاستشارات الهندسية JQEC) )، اتفاقية مع وزارة الكهرباء والماء في دولة الكويت، للإشراف على خمس محطات كهرباء. ويمتد العقد لثلاث سنوات، وسيتولى فريق شركة "بنسبن" من خلاله الإشراف على إدارة اعمال المقاولات والبناء والمشتريات لمحطات كهرباء: غرب الدوحة، الشويخ، الصبيّة، الزور، والخيران. يشمل نطاق عمل مقاولي المشتريات والبناء، الهندسة التفاضلية، والهندسة التفصيلية، والمشتريات والبناء حتى مراحل التشغيل في محطات الطاقة. وقال نائب الرئيس التنفيذي لشركة Penspen في منطقة الشرق الأوسط وأفريقيا وآسيانيل كارتر: "لقد عملنا مع وزارة الكهرباء والماء لإنجاز المرحلة الأولى بنجاح، ونحن واثقون من أن خبرتنا ستساعد الشركة على تحقيق أهدافها بكفاءة. نحن نتطلع إلى شراكة عمل مثمرة".

11 Apr 2019

Soft Serve Society are growing internationally and have firmly established themselves in Saudi Arabia via their Master Franchisee. Having just secured properties in Jeddah and in Riyadh, the Saudi Master Franchise hopes to be fully operational in the coming months. Having worked with The Franchise Company since 2017, we look forward to helping them through this period of international growth. #franchising #masterfranchising

United Kingdom · 26 Feb 2019

UAE's Al-Futtaim said to be in talks to buy M&S business in Hong Kong, Macau

UAE-based conglomerate Al-Futtaim is reportedly in talks with UK retail giant Marks & Spencer for the possible purchase and franchising of its business in Hong Kong and Macau. The UK's Financial Times said the talks could see Al-Futtaim become the sole franchisee for M&S in Hong Kong and Macau, adding that M&S has operated in Hong Kong since 1988 and has 27 stores in the city. Al-Futtaim has worked with M&S since it opened the British retailer’s first store in Dubai in 1998. The deal covers only the company’s retail business and its Hong Kong sourcing operations will remain wholly-owned, the FT added.

United Kingdom · 29 Aug 2017

PizzaExpress acquires UAE franchise amid expansion push

Italian-inspired dining brand PizzaExpress has acquired its UAE franchise operation from operator Jordana Restaurants, it announced on Sunday. The acquisition is part of ambitious international expansion plans as PizzaExpress celebrates its 50th anniversary this year and prepares to double the number of UAE outlets in the next five years, the company said. Jordana has operated the PizzaExpress franchise since 2000. There are currently seven restaurants in the UAE – six in Dubai, in Al Safa, Ibn Battuta, World Trade Centre, Bin Sougat, Jumeirah Lakes Towers and Kidzania in Dubai Mall, as well as one restaurant in Fujairah. An eighth is due to open this summer in Abu Dhabi’s World Trade Centre Mall. This will be the second alcohol licensed Jazz@PizzaExpress concept, building on the success of the first such live music venue in Dubai’s Jumeirah Lakes Towers. Luke Davies, managing director of PizzaExpress International, said, “This acquisition builds on our strategy to grow PizzaExpress into a truly global brand, and I’m delighted to bring our UAE operation into the core PizzaExpress estate. “We plan to invest further in the UAE over the next five years as we double the number of PizzaExpress sites across the region. “By delivering great quality, fresh food, and the very best customer experience, I’m confident of achieving our ambition to become the number one Western casual dining brand in our chosen international markets.” Established in London’s Soho in 1965, PizzaExpress has 436 restaurants in the UK and a further 77 in 13 markets across the world.

United Kingdom · 9 May 2015