Latest news with #restaurantchain
Forbes
16-07-2025
- Business
- Forbes
Restaurant Stock Ripe For Upgrades, Bullish Price Action
Shares of Brinker International (EAT) are up 1% to trade at $166.25 last check, somewhat distant from their Feb. 4 record peak of $192.22. Although the restaurant chain rallied off its April 7 pullback, it's been unable to break out and remain above $180. The security still sports a 25.8% year-to-date lead, however, and could soon erase more of these recent losses thanks to a historically bullish trendline. According to Schaeffer's Senior Quantitative Analyst Rocky White, EAT is within one standard deviation of its 80-day moving average. Shares were above this this trendline in at least eight of the last 10 trading days, and spent 80% of the past two months above it. Within these parameters, five other signals occurred over the past three years, after which the stock was higher one month later 80% of the time, averaging a 11.6% gain. Should a move of similar magnitude happen, the shares would land near $185.53, much closer to record highs. Daily EAT Since August 2024 with 80-Day Moving Average EAT currently sports a short interest float of 13.7%, indicating it could see a squeeze. Heading into today, 14 of the 18 covering brokerages carry a "hold" recommendation, leaving ample room for bull notes, should this bearish sentiment begin to unwind. Options are looking affordable, per EAT's Schaeffer's Volatility Index (SVI) of 58%, which ranks in the low 28th percentile of its annual range. It's also worth noting that the security has tended to outperform options traders' volatility expectations, per its Schaeffer's Volatility Scorecard (SVS) of 76 out of 100.
Sky News
11-07-2025
- Business
- Sky News
Owner of Cote restaurant chain cooks up sale plan
The private equity firm which took control of Cote, the French restaurant chain, at the height of the pandemic is kicking off an auction of the business Sky News has learnt that Partners Group is working with Interpath Advisory on a search for new investors in Cote. Cote was bought out of administration by Partners Group in the autumn of 2020 in a deal reportedly worth £55m. Sources close to the sale process said that Interpath was marketing the company based on last year's turnover of over £150m. Read more:Trump to hit Canada with 35% tariffUK economy figures not as bad as they look, analysts say The chain trades from more than 70 sites across the UK, down from close to 100 shortly before it collapsed into insolvency five years ago. Roughly 60 of the sites are said to be profitable, implying there could be scope for further closures. The sale comes at a time when hospitality venue operators continue to face severe financial pressures, with the industry's leading trade body warning of a further jobs bloodbath in the months ahead. "If we carry on with these trends and the situation doesn't improve -- and clearly Rachel Reeves's statements are giving a signal to consumers that it is not going to get better any time soon - then I would see this accelerating," said Kate Nicholls, chair of UK Hospitality. "Unless there is a change of tack by the government, we are looking at 150,000-200,000 fewer workers in hospitality during the first full year of [employer national insurance contribution] changes." Partners Group declined to comment, while Interpath could not be reached for comment.
Bloomberg
10-07-2025
- Business
- Bloomberg
Smoothie King Chain Sells Minority Stake to Main Post Partners
By and Michelle F Davis Save Smoothie King, the Dallas-based restaurant chain, sold a minority stake to consumer investor Main Post Partners, according to a statement. Though terms of the transaction weren't disclosed, the smoothie franchise had been seeking to be valued in a deal at more than $1 billion, said a person familiar with the matter who asked not to be identified discussing private information. A representative for Smoothie King declined to comment on the valuation.
Daily Mail
09-07-2025
- Business
- Daily Mail
Beloved Tex Mex staple shuts all locations forever after decades serving loyal customers
Loyal customers have been forced to say adios to the Z'Tejas restaurant chain for good after 36 years of business. The longtime eatery shuttered its last location in Kyle, Texas, on June 30, marking the end of an era in the South. 'After nearly three decades of serving communities across Texas and Arizona, it's time to say goodbye to this chapter,' the chain wrote on its website. The company said it was closing its last remaining outpost, blaming its lease coming to an end and 'the challenges of today's market.' The final shutdown comes a couple of years after a huge wave of closures for the chain, including its 33-year-old flagship restaurant in Austin. Z'Tejas continued to operate four locations by the time 2025 rolled around. However, the chain was quietly searching for a buyer before ultimately deciding to shutter all restaurants. 'We are deeply grateful to our guests, neighbors, and friends for your support, your stories, and for making Z'Tejas a part of your lives,' the management team added. Z'Tejas was known for creating made-from-scratch Southwestern cuisine, as well as features like brunch and private events. It reached its peak in the 1990s after expanding its operations to Arizona and once operated 14 restaurants, at least one being in California. Things took an unfortunate turn for the chain in the 2010s, leading to a bankruptcy filing in 2015 due to tough competition and trend changes. Z'Tejas filed for the second time in 2017, and was acquired by Randy Cohen, founder of ticket company TicketCity, a year later with the hope of bringing it back to its former glory. 'We've got so much love and spirit at Z'Tejas and I just want to see it bounce back to the magic it used to be,' Cohen told Ahwatukee Foothills News in 2023. The company invested $1 million in a restaurant revamp, which included new murals, decorations, furniture, and landscaping. While Cohen put the chain up for sale, co-owner Robby Nethercut claimed the restaurants were doing 'really well' and hoped a buyer would help the brand grow. Sadly, Z'Tejas could not find any bidders, making it the end of the road for the once-thriving chain. The restaurant chain had closed several restaurants before 2020 after filing for bankruptcy twice Z'Tejas is not the only restaurant business to have permanently shuttered this year. The once-popular EVOS burger chain ceased operations after 31 years in April. Sticky's Finger Joint, a New York-based chicken chain, is closing all its restaurants after failing to bounce back from its April bankruptcy filing. Others have shrunk significantly over the last few years following longtime financial struggles. On The Border Mexican Grill & Cantina, a major Z'Tejas competitor, filed for bankruptcy in March and is closing 76 restaurants in 24 states. Chains hanging on by a thread after bankruptcy filings include Dallas-based pub chain Bar Louie and Planta, a celebrity hotspot known for Asian-inspired dishes. Other businesses like Jack in the Box and Noodles & Company are in the process of completing mass closures while avoiding Chapter 11 bankruptcy protection.
The Sun
08-07-2025
- Business
- The Sun
Britain's largest fish and chip chain shuts NINE restaurants in major shake-up – is one going near you?
BRITAIN'S largest fish and chip chain has sold off nine of its popular restaurants. The sale is part of a major shake-up for the brand, as it shifts its focus to another popular restaurant chain that it owns. 3 3 Deep Blue Restaurants is the largest operator of fish and chip restaurants in the UK and owns several well-known brands. It bought the popular chain Harry Ramsden's in 2019 and has decided to shift its focus to that rapidly growing brand. As part of the overhaul, the company's latest accounts have revealed that it has sold nine Deep Blue Restaurants. The eateries were sold between October 2024 and May 2025 and the money raised has been channeled into Harry Ramsden's restaurants. The funds were used to refurbish some of Harry Ramsden's restaurants, as well as funding several national and international marketing campaigns. Deep Blue Restaurants has been battling a drop in sales over the last year, with its turnover falling by 2.5 per cent in September 2024. Despite its successful efforts in securing £5.57 million in debt funding between October 2024 and February 2025, the company has pushed ahead with its strategic shakeup. Writing in his firm's accounts, James Fleming, the group's Chief Executive, said: 'As in prior years, global events, the cost of living crisis and food cost inflation continued to present headwinds to trading in the first three quarters of FY 2025. 'Despite this, performance has been robust. Looking at the sites on a like for like basis (to account for the disposal of some stores) the group is trading in line with the budget set at the start of the year. 'Continued success with the franchising and licensing of the Harry Ramsden's brand has further driven revenue and profitability across the group. Costa Coffee Shuts Whitstable Branch: What Shop Closures Mean for UK High Streets 'Management continue to focus on developing this element of the business, and there have been further new contract wins into 2025.' The news comes as TGI Fridays announced its return to the high street, after being saved from administration. The company's bosses have said that a 'full brand reset' is now underway, with 70 per cent of its grill items being reworked. A greater focus will be placed on its Americana aesthetic and theatre theme. TGI Fridays has been a mainstay on UK high streets since 1986, but has encountered falling sales over recent years. 35 of its restaurants were closed, making 1000 members of staff redundant. However, Breal Capital and Calveton UK has acquired its remaining 51 restaurants. Julie McEwan, chief executive of TGI Fridays UK, said: "This is an exciting moment for TGI Fridays - a full brand reset that reinforces everything people have always loved about us. "TGI Fridays has a rich heritage of bold flavour, high-energy hospitality and unforgettable celebrations - and we've gone back to those roots to bring that magic into a new era. "Over the past eight months, we've restructured the business, invested in our incredible team, and rebuilt our offer around quality, value and experience." Deep Blue Restaurants have been approached for comment by The Sun. 3
