Back in the day we all used to go to one of the 2,800 branded catering, 180 airport and/or 300 railways stations where SSP Group (SSPG) acts as a food supplier. Naturally matters have been a bit different over the last fifteen months, hence why the company’s interim results were pretty shocking with a 78.8% fall in revenue and a loss of nearly £300 million. No wonder it announced a money raising the other month, to help bring down its net debt level to just over £350 million. You can all guess the realities that the operator of Upper Crust since the 1980s and names such as Le Grand Comptoir and Camden food co. has faced as fewer people have travelled to cities, railway stations and airports.
I am not sure anyone on this website has written about SSP Group (SSPG) before. This may be something about the rather anonymous name of the company. You would know it better as the operator of Upper Crust, Cabin Bar and Ritazza (among other names) food and beverage concessions 'in travel locations, operating restaurants, bars, cafés, food courts, lounges and convenience stores in airports, train stations, motorway service stations and other leisure locations'. Well you can spot the problem in today's backdrop, especially if you have a business that operates 'at approximately 180 airports and 300 rail stations' around the world. Today's update from the company comes in two parts…
Search ShareProphets |
Recent Comments |