Hawksmoor seeking funding | Major bank pulling £150 deal | Rent hits record high | Higher welfare standards for chickens
Hawksmoor is reportedly looking at funding options which could see the steak restaurant chain valued at around £100m.
Investment bank Stephens has been hired to run the process for the business, which is currently seeking opportunities to expand outside the UK.
Hawksmoor currently has three restaurants outside the UK, which are located in New York City, Chicago and Dublin. It has 10 other sites, including seven in London.
Private equity firm Graphite Capital owns 51% of Hawksmoor. If new investment comes in, co-founders Will Beckett and Huw Got are expected to retain their minority stake and continue to run the business.
Beckett said: “We’ve got a great relationship with Graphite, and together we are getting to know the US investment community in more depth. As that continues, an opportunity may emerge that we wish to explore together.”
The Co-operative Bank is withdrawing its switching deal this week, leaving people just days to get £150 for free.
New customers, who switch using the CASS system, can bag £75 upfront for opening a standard current account or an Everyday Extra account.
They can then get paid £15 a month for five months if they also open a Regular Saver account.
Anyone making the switch will receive the initial £75 within seven days of meeting all the qualifying criteria.
This includes setting up two direct debits, depositing at least £1,000, making a minimum of 10 card transactions and registering for online or mobile banking.
All of these tasks need to be completed within 30 days of making the switch.
To qualify for the extra £75, you have to open a Regular Saver account before the last day of the month you receive the free cash incentive and deposit £50.
The offer is due to be withdrawn on Friday 5 July.
The average monthly rent being asked outside London has hit a record high of £1,316, according to Rightmove.
The new record across Britain means that average advertised rents outside the capital are around 7% higher than a year earlier, the property website found.
London has the highest rent prices in the country with an average of £2,652 per month, it said.
The South East has the second highest at £1,836, which is a 6% rise since last year.
The cheapest region is the North East, which typically costs £894 a month.
Rightmove has urged the next government to accelerate housebuilding and incentivise landlords to invest in more homes for tenants.
A budget supermarket chain has announced higher welfare standards for its chickens.
Aldi has said it will introduce improved stocking density requirements for its fresh chicken suppliers, which will mean the birds have 20% more space than the industry standard.
The extra space will let the chickens engage in “natural behaviours” such as stretching their wings, dust bathing and roaming, it said.
“Animal welfare is of paramount importance to us,” said Aldi’s managing director of buying, Julie Ashfield.
“We’re already one of the UK’s largest providers of responsibly farmed chicken and we’ve been working hard with our suppliers to reduce stocking density to help us improve the living conditions of these animals even further.”
The move is due to be completed by October 2024.
