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Hawksmoor restaurant chain up for sale

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Hawksmoor restaurant chain up for sale

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Hawksmoor has been put up for sale in a deal that could value the restaurant chain at about £100mn, according to two people familiar with the matter, as it seeks to grow its international footprint.

Investment bank Stephens, which has been hired to run a sales process, has started speaking to potential buyers, the people said. Graphite Capital has owned 51 per cent of Hawksmoor since 2013.

Hawksmoor chief executive and co-founder Will Beckett and another co-founder Huw Gott, who own a minority stake, will retain their shareholding to continue to lead the company, one of the people added.

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Graphite Capital said it did not comment on “market rumour” and Stephens declined to comment.

Hawksmoor did not comment on whether it was up for sale but Beckett said in a statement: “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.”

Meanwhile, Rare Restaurants, the owner of rival steakhouse Gaucho, is also exploring a sale of the business having appointed Clearwater M&A advisers, two people familiar with the matter said. One person said Rare was yet to start the process, as it was not under financial pressure. Rare Restaurants and Clearwater declined to comment.

London-based Hawksmoor’s sales process comes as the chain, which operates 13 locations, including 10 in the UK, continues expanding abroad having opened in Chicago last week.

It follows Hawksmoor’s debut US site in New York in 2021 and the launch of another venue in Dublin last year.

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The company, which opened its first outlet in 2006 in east London as a place to buy better-quality steak, said last week that sales were expected to top £100mn this year with “consistent like-for-like growth”.

One person close to the company said underlying profits for the 12 months to the end of June were above £10mn, and that it aimed to expand further in the US.

In 2021, Hawksmoor shelved plans for a flotation amid uncertainty in the hospitality industry caused by Covid lockdowns, shortages of labour and supply chain disruption. The chain had been working with Berenberg private bank on the plans.

Despite surging inflation and the cost of living crisis, the UK hospitality industry has witnessed several large deals. Last year, Apollo acquired Wagamama-owner The Restaurant Group for £506mn, while Japanese group Zensho acquired Yo! Sushi owner Snowfox Group for £490mn.

Earlier this year, London-based Equistone Partners sold its stake in catering company CH&CO to the world’s largest catering group Compass in a £475mn deal.

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The exploration of a sale for Hawksmoor comes as private equity groups face pressure to sell some of their record $3tn in unsold assets in order to return cash to their backers.

Global takeovers in the first half of the year climbed 22 per cent by value thanks to a rebound in big deals, but the total number of mergers and acquisitions fell to a four-year low because of a slowdown in smaller transactions.

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Multiple people shot near street festival in Toledo, Ohio, authorities say

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Multiple people shot near street festival in Toledo, Ohio, authorities say

A shooting near a community festival in Toledo, Ohio, wounded at least 12 people on Saturday, with police saying a search for the suspects was ongoing.

Two of the wounded were in a critical condition, Toledo deputy police chief Joe Heffernan said. He said it appeared there were at least two people firing weapons who were “probably shooting at each other”.

The Toledo police department said the shooting happened near the Old West End festival, an annual gathering of live music and home tours in a historic district of the city.

Police investigate where multiple people were shot at a community festival in Toledo, Ohio. Photograph: Paul Sancya/AP

The department said an active search was under way for those responsible.

“I am deeply concerned about the situation in Toledo tonight,” Ohio governor Mike DeWine said in a statement. “Summer festivals should be safe spaces for families to spend time together without fear of violence.”

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Multiple videos posted to social media showed people running over the sound of gunshots and emergency officials tending to others who appeared wounded.

Kevin Berry said he was sitting in the neighbourhood arboretum listening to live music with his friends when he heard a handful of gunshots ring out.

“Everybody hit the deck,” he said.

Police officers block off a road near where multiple people were shot at a community festival. Photograph: Paul Sancya/AP

When he looked back up, he saw a gun being tossed to the ground. Police officers who were already on-site for the festival immediately responded to the scene.

Berry, who has medical training and served in the US Navy, said he walked around the area looking for potential victims who might need help.

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He said he saw at least five people with gunshot wounds.

Police officers work at the scene of a shooting near a festival in Toledo, Ohio. Photograph: WTVG/AP

“The folks who were hit were spread out around the arboretum area,” he said.

The Old West End festival is a two-day celebration in Toledo’s historic district that includes live music, food vendors, home tours and shopping.

“This tragedy is really weighing heavily on both the residents and those who visit and enjoy this festival year after year,” said city council member Theresa Morris.

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Video: Protester Hit by Car at Newark ICE Detention Center

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Video: Protester Hit by Car at Newark ICE Detention Center

new video loaded: Protester Hit by Car at Newark ICE Detention Center

A vehicle hit a protester on Friday as it was leaving Delaney Hall, an immigration detention center in Newark that has been the site of protests since late May.

By Cynthia Silva

June 6, 2026

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Despite a competitive market, finding a summer job is highly beneficial for teens

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Despite a competitive market, finding a summer job is highly beneficial for teens

A lifeguard overlooks an outdoor swimming pool.

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Etienne Laurent/Getty Images

Teenagers hoping to hold the whistle as a lifeguard or camp counselor, or just work any job this summer are having a hard time getting hired.

“They now have more competition. There may be fewer jobs available,” says Brad Hershbein, an economist at the W.E. Upjohn Institute for Employment Research. “They kind of get stuck with the short straw.”

Many factors are contributing to the competition for entry-level jobs: AI, inflation, tariffs, even those oil tankers stuck in the Persian Gulf. But all signs are pointing to 2026 being the worst job market for teens in decades.

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“So many people are increasingly desperate to find a job, any job, especially if they have college loans,” Hershbein says. “That makes it that much harder for someone younger to be able to compete.”

The Bureau of Labor Statistics counted 219,000 fewer teens working this May compared to last May. Their participation in the labor force has been sliding since a peak of nearly 58% in the 1970s. Today, about a third of teens are in the labor force, either working or looking for summer work.

Mariella Silva, 19, had to hustle before finding a summer job as a barista at Zeke’s Coffee, a roastery and coffee shop in Washington, D.C.

She says now that she’s working, she feels more grown up. She is learning from her older coworkers and starting to understand and appreciate the value of money. She says, “Every time I spend something, I’m like, oh, this is like two hours of work.” She says she really feels the pinch of inflation when she considers whether to buy a meal out in the world, “I’m like, hmm. . . there’s food at home.”

Her boss, Jesse Lauritsen, doesn’t actually hire many teens. For starters, their schedules are hard to accommodate. Teens often have school or sports commitments and are new to the idea of carving out big chunks of time for work shifts.

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“If they can only work one day a month, there’s no point in really hiring them,” Lauritsen says.

Economist Brad Herschbein notes that hiring managers may view teens as an investment that won’t pay off right away. “It’s almost a community service, rather than getting that productivity right away,” he says.

The dwindling job opportunities for teenagers means that plenty of them won’t get their first workforce experience while they’re still young, he adds. “A growing share of 18- to 19-year-olds are neither employed nor in school. They’re not really engaged in child care either.”

Economists call such people “idle.” It’s a strong term, but might be accurate, according to time-use surveys.

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“They do seem to be engaging in a lot of leisure,” says Hershbein “The quintessential stereotype is, you know, someone’s playing video games all day.”

That pattern doesn’t just worry their parents. Many cities and school districts are trying hard to line up job opportunities for young people.

At a community pool in Ann Arbor, Michigan, Gayle Hurn hires over a hundred lifeguards and swim instructors every summer: She says she’s got a roster full of teenagers from around the city. “I think we need to start viewing teens as a really important part of the infrastructure of the workplace.”

Hurn says everyone who visits the pool feels the joy that her young workers bring to their job, even if she admits that teenagers can be hard to manage. “It’s my job to help them not just get a paycheck, but really build them so that when they move on from me, they can be super successful and really great contributors to whatever other work environment they join.”

Hurn makes them put away their phones, she works around their vacation schedules and she helps them through difficult conversations.

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Happily, she adds, her teen employees are totally worth it.

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