Latest news with #JohnEckbert
Yahoo
11 hours ago
- Business
- Yahoo
Burger chain Five Guys flips debt with £185m refinancing
The burger chain Five Guys will this week announce a £185m refinancing as it seeks to expand its European estate in a challenging climate for restaurant operators. Sky News understands that Five Guys, which launched in the UK in 2013, has landed a new five-year debt deal with lenders including Britain's major high street banks. Sources said the agreement was likely to be announced on Wednesday. Money latest: Economists issue warning as government borrowing soars Five Guys trades from nearly 180 sites in the UK, employing roughly 5,500 people. It also operates under the same corporate ownership structure in France, Germany and Spain, with its European operations in total employing about 9,000 people. ADVERTISEMENT The European business is a 50-50 joint venture between Freston Ventures - the investment vehicle of Sir Charles Dunstone, co-founder of The Carphone Warehouse - and the Murrell family which founded Five Guys in the US. It is now expected to seek to open a larger number of drive-thru restaurants in the UK and elsewhere in Europe. In a statement issued to Sky News, John Eckbert, Five Guys Europe's chief executive, said: "Securing additional debt capital at a more favourable rate in today's market is a significant accomplishment. "This £185m refinancing transaction is a testament to the strength of the Five Guys brand and our successful operational performance. "The latest capital injection will be instrumental in accelerating our expansion strategy." The deal comes as hospitality groups warn of an increasing challenge to survive following tax increases announced in Rachel Reeves's Budget last autumn, with chains such as Cote now exploring urgent sale processes in a bid to secure new investment.
Sky News
11 hours ago
- Business
- Sky News
Burger chain Five Guys flips debt with £185m refinancing
The burger chain Five Guys will this week announce a £185m refinancing as it seeks to expand its European estate in a challenging climate for restaurant operators. Sky News understands that Five Guys, which launched in the UK in 2013, has landed a new five-year debt deal with lenders including Britain's major high street banks. Sources said the agreement was likely to be announced on Wednesday. Five Guys trades from nearly 180 sites in the UK, employing roughly 5,500 people. It also operates under the same corporate ownership structure in France, Germany and Spain, with its European operations in total employing about 9,000 people. The European business is a 50-50 joint venture between Freston Ventures - the investment vehicle of Sir Charles Dunstone, co-founder of The Carphone Warehouse - and the Murrell family which founded Five Guys in the US. It is now expected to seek to open a larger number of drive-thru restaurants in the UK and elsewhere in Europe. In a statement issued to Sky News, John Eckbert, Five Guys Europe's chief executive, said: "Securing additional debt capital at a more favourable rate in today's market is a significant accomplishment. "This £185m refinancing transaction is a testament to the strength of the Five Guys brand and our successful operational performance. "The latest capital injection will be instrumental in accelerating our expansion strategy." The deal comes as hospitality groups warn of an increasing challenge to survive following tax increases announced in Rachel Reeves's Budget last autumn, with chains such as Cote now exploring urgent sale processes in a bid to secure new investment.
Metro
06-06-2025
- Business
- Metro
Major US fast food chain to open in Heathrow airport
Heathrow Airport has announced plans to open a new Five Guys restaurant, in a European first. Set to launch in Terminal 5 – which has been temporarily renamed 'Terminal Five Guys' for the occasion – the popular American chain is making its debut at the UK's busiest airport later in 2025. Five Guys opened its first UK restaurant back in 2013, but this will mark its first venture into any airport in either the UK or Europe. Located on the terminal's upper level, the 2,500-square-foot burger joint is expected to seat around 90 diners, as well as offering a takeaway service for travellers on the go. With opening times spanning from the first to last flight each day, it'll also feature a special menu tailored to passengers dealing with jet lag and navigating time zone shifts. Although the exact details have yet to be revealed, the chain has confirmed that breakfast options will be available to order throughout the day, alongside Five Guys' signature burgers, hot dogs and hand-cut fries. The restaurant is expected to create between 80 and 100 new jobs, and will include ordering kiosks in six languages. 'We are thrilled to be opening a brand new Five Guys at Heathrow Terminal 5 this year,' John Eckbert, CEO of Five Guys UK said. 'Having opened over 170 restaurants across the UK since we first launched back in 2013, the brand has established itself as one of the nation's favourites for premium burgers. 'Now Five Guys is cementing itself at the UK's busiest travel hub; we are excited to be providing our delicious menu to travellers as part of their journeys.' The American fast food chain was founded in Virginia in 1986 and opened its first UK location in Covent Garden in 2013. Travellers can find the restaurant at several major US airports and Dubai International Airport, which opened last year to become the first Five Guys airport location outside North America. More Trending Heathrow saw around 81 million passengers pass through in 2024 and is targeting a record 84.2 million in 2025. Terminal 5, the main base for British Airways, is the busiest airport terminal in Europe, and plans for expansion are already underway. Holidaymakers aren't the only ones being treated to new fast food spots though, so you don't need a boarding pass to get your fix. Parisian burger joint Dumbo is opening its first ever UK site very soon, while an Asian dessert chain called Mammy Pancake also hit British shores earlier this month. Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: 'Stupid' Apple Pay prank plagues commuters on London Tube MORE: People stuck in 26-storey tower block after lifts broke only offered £100 voucher MORE: Three men appear in court accused of arson attacks on properties linked to Keir Starmer
Time Out
30-05-2025
- Business
- Time Out
Europe's first airport Five Guys is landing at London Heathrow Airport
Heathrow Terminal 5 is one of the best places in the world for airport grub. Yes, really – the restaurant experts at Food & Wine have said so. For fancy fliers, there's Gordon Ramsay Plane Food, the Fortnum and Mason Bar and La Belle Epoque and for the rest of us there are firm favourites like Wagamama, Itsu and good old Wetherspoons. So it only makes sense that T5 will be the very first airport terminal in Europe to get a Five Guys. Soon you'll be able to get your hands on a big fat oozing bacon cheeseburger right before your 6am flight to New York, if you want. The hub has been renamed 'Terminal Five Guys' to mark the momentous occasion. Expected to open late this year, Five Guys will be on the upper level of the terminal with around 90 seats for eating in, plus a takeaway option. It's opening times will align with the first and last flight of each day, so no one misses out, and will have ordering kiosks in six different languages. The American chain's breakfast options (egg, cheese or bacon sandwiches) will be available throughout the day, as will its classic burgers, hotdogs, boardwalk-style fries and milkshakes. It's been more than a decade since Five Guys first landed in the UK, with its first British branch opening in Covent Garden in 2013. John Eckbert, the CEO of Five Guys UK said: 'We are thrilled to be opening a brand new Five Guys at Heathrow Terminal 5 this year. Having opened over 170 restaurants across the UK since we first launched back in 2013, the brand has established itself as one of the nation's favourites for premium burgers. 'Now Five Guys is cementing itself at the UK's busiest travel hub; we are excited to be providing our delicious menu to travellers as part of their journeys.'
Metro
27-05-2025
- Business
- Metro
Europe's first airport Five Guys to open in UK's busiest travel hub
Heathrow Airport has announced plans to open a new Five Guys restaurant, in a European first. Set to launch in Terminal 5 – which has been temporarily renamed 'Terminal Five Guys' for the occasion – the popular American chain is making its debut at the UK's busiest airport later in 2025. Five Guys opened its first UK restaurant back in 2013, but this will mark its first venture into any airport in either the UK or Europe. Located on the terminal's upper level, the 2,500-square-foot burger joint is expected to seat around 90 diners, as well as offering a takeaway service for travellers on the go. With opening times spanning from the first to last flight each day, it'll also feature a special menu tailored to passengers dealing with jet lag and navigating time zone shifts. Although the exact details have yet to be revealed, the chain has confirmed that breakfast options will be available to order throughout the day, alongside Five Guys' signature burgers, hot dogs and hand-cut fries. The restaurant is expected to create between 80 and 100 new jobs, and will include ordering kiosks in six languages. 'We are thrilled to be opening a brand new Five Guys at Heathrow Terminal 5 this year,' John Eckbert, CEO of Five Guys UK said. 'Having opened over 170 restaurants across the UK since we first launched back in 2013, the brand has established itself as one of the nation's favourites for premium burgers. 'Now Five Guys is cementing itself at the UK's busiest travel hub; we are excited to be providing our delicious menu to travellers as part of their journeys.' The American fast food chain was founded in Virginia in 1986 and opened its first UK location in Covent Garden in 2013. Travellers can find the restaurant at several major US airports and Dubai International Airport, which opened last year to become the first Five Guys airport location outside North America. More Trending Heathrow saw around 81 million passengers pass through in 2024 and is targeting a record 84.2 million in 2025. Terminal 5, the main base for British Airways, is the busiest airport terminal in Europe, and plans for expansion are already underway. Holidaymakers aren't the only ones being treated to new fast food spots though, so you don't need a boarding pass to get your fix. Parisian burger joint Dumbo is opening its first ever UK site very soon, while an Asian dessert chain called Mammy Pancake also hit British shores earlier this month. Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: Fast food worker 'shoots dead customer over missing mayonnaise packets' MORE: Staff at luxury London auction house speak out after ramraid burglary MORE: Fox left screaming for hours after becoming submerged and stuck in thick oil
