Today’s news in brief – 31/01/25

Loungers has agreed to Fortress Investment Group’s £354.4m takeover bid. News comes after Fortress submitted a revised deal after its first attempt of 310p a share was opposed by Loungers shareholders. The deal is due to be sanctioned in a court hearing expected to take place on Friday 7 February. 

Butcombe has reported that full-year LFL revenues rose 7.8%, with like-for-like sales over the two-week Christmas period rising by 23%. For the year ended 25 January 2025, its standout performance was in food at 12% growth, with both accommodation and drink growing by 4% and 5% respectively.

Brother Marcus and Hagen will open new F&B sites at YY London, a newly-refurbished 415,000 sq ft Canary Wharf office building. Both Brother Marcus and Hagen will be located on YY London’s ground floor facing directly onto the open spaces of Jubilee Plaza opposite the Jubilee Line Underground Station and the new waterfront Eden Dock. 

Catering company Houston and Hawkes has appointed a new sales director. Jessica Burgess joins from a senior sales role at BaxterStorey, bringing over 12 years of experience in operations and business development within the foodservice and hospitality sector. In her new role, Burgess will lead the company’s business development strategy.