Spirit of the holidays.
Wagamama was sold last month to Frankie & Benny’s owner, The Restaurant Group, for £559 million.
Following the massive sale deal, Wagamama’s nearly 4,000 staff will take home a share in a £4 million (Dh18.62 million approx) Christmas bonus.
The decision was made by outgoing chief executive Jane Holbrook and Wagamama’s former private equity owner DukeStreet, and will see staff take home up to £2,000 (Dh9,000 approx) each, reported Metro.uk.
The chefs and managers will bank £2,000 each, while waiting staff will get £1,000, provided they have worked at Wagamama for over 12 months.
Duke Street acquired Wagamama in 2011 for £215 million. The new owner, Restaurant Group chief executive Andy McCue, plans to explore international growth opportunities for Wagamama and expand across the UK and pilot pan-Asian cuisine ‘food-to-go’ offerings.
As part of the deal, Emma Woods will replace Holbrook as chief executive, and chairman Allan Leighton will join the Restaurant Group board.
Wagamama has outperformed the market, booking sales of £306.7 million and with an operating profit of £43 million last year. While the takeover was approved by Restaurant Group shareholders, there was a significant level of opposition.
Just under 61 per cent of shareholders supported the deal, which will be paid for through a combination of a £315 million rights issue and a £220 million revolving credit facility.
Dubai resident finds Dh3.67 million missing from his Bank account
He discovered that his registered SIM card number was replaced with another one.A Dubai resident got the shock of his life when he found out that he lost $1 million (Dh3.67 million) in bank transactions he knew nothing about.
The man was travelling outside the country and upon his return to Dubai, he was met with bank letters stating that money transfers have been carried out from his account, police authorities said.
He discovered that his registered SIM card number was replaced with another one without his knowledge. Through the new number, the scammers were able to make transactions on his behalf.
Brigadier Abdul Rahim bin Shafi’i, director of Al Barsha police station in Dubai, said that since a similar incident was reported recently, they launched an investigation that led to the arrest of four suspects who may have masterminded the modus operandi. The probe showed that the gang had links with others outside the country.
Another recent victim lost Dh800,000.
In both cases, Shafi’i said the SIM cards were registered under certain company names and the suspects appeared to have used fake papers and trade licences to get the victims’ mobile numbers and have them replaced.
Such types of frauds, he said, require scammers to get as much information as possible about the target victim. Hackers may send phishing e-mails, which may appear to have come from banks or insurance companies.
Through bogus mails and websites, they would ask victims to provide personal data like their names, birth dates, addresses and phone numbers, Shafi’i said.
“Unfortunately, many people cannot distinguish between real and deceptive e-mails,” he added, urging the public to be wary of such schemes.