Hello Share Munchers. My latest suggestion for your further investigation will likely come as a surprise to you. It’s a company called SSP Group (SSPG). This outfit has eating houses in 36 countries. Nothing to worry about there much. However, its cafes are at airports and railway stations. And we all know how much they must be affected by strikes and unreliability at the moment.
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.