A massive coral, thought to be the largest ever recorded, has been discovered by scientists in the Solomon Islands, drawing global attention to its size and environmental significance. The coral, which extends about 111 feet across and 104 feet in length, spans an area comparable to two basketball courts and can be seen from space. This discovery, made by a team from National Geographic’s Pristine Seas expedition in October, highlights the presence of previously unrecorded marine giants.
A Hidden Giant in the Ocean
Dr. Molly Timmers, the expedition’s lead scientist, noted that the coral appeared “like a shipwreck” from the water’s surface. Its sheer size was confirmed by underwater divers, who found the coral extending across the seafloor with undulating waves of brown, yellow, and blue hues. Estimated to be between 300 and 500 years old, the coral dwarfs the previous record-holder, a coral known as “Big Momma” in American Samoa.
Pristine Seas founder Dr. Enric Sala compared the discovery to finding “the world’s tallest tree” and emphasized its importance in marine biodiversity research. Dr. David M. Baker, a coral reef researcher at the University of Hong Kong, who was not part of the expedition, highlighted that large coral structures represent resilience, having endured significant environmental changes over centuries.
A Vital Marine Habitat at Risk
Though the coral appears healthy, scientists have expressed concern about the threats it faces from both local and global stressors. Overfishing disrupts coral reef ecosystems by removing key species that support its health, while climate change poses a longer-term threat. Coral reefs are highly susceptible to warming oceans, which can lead to coral bleaching and ultimately coral death, Timmers noted.
With more than 490 species of hard and soft corals, the Solomon Islands host one of the world’s richest coral ecosystems. The discovery of this coral serves as a reminder of both the ocean’s hidden wonders and the urgent need for conservation amidst rising global temperatures.
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Pizza Hut’s biggest UK franchisee has begun approaching potential bidders as it scrambles to mitigate the looming impact of tax hikes announced in last month’s Budget.
Sky News has learnt that Heart With Smart (HWS), which operates roughly 140 Pizza Hut dine-in restaurants, has instructed advisers to find a buyer or raise tens of millions of pounds in external funding.
City sources said this weekend that the process, which is being handled by Interpath Advisory, had got under way in recent days and was expected to result in a transaction taking place in the next few months.
HWS, which was previously called Pizza Hut Restaurants, employs about 3,000 people, making it one of the most significant businesses in Britain’s casual dining industry.
It is owned by a combination of Pricoa and the company’s management, led by chief executive Jens Hofma.
They led a management buyout reportedly worth £100m in 2018, with the business having previously owned by Rutland Partners, a private equity firm.
One source suggested that as well as the talks with external third parties, it remained possible that a financing solution could be reached with its existing backers.
HWS licenses the Pizza Hut name from Yum! Brands, the American food giant which also owns KFC.
Insiders suggested that the increases to the national living wage and employers’ national insurance contributions (NICs) unveiled by Rachel Reeves would add approximately £4m to HWS’s annual costs – equivalent to more than half of last year’s earnings before interest, tax, depreciation and amortisation.
One added that the Pizza Hut restaurants’ operation needed additional funding to mitigate the impact of the Budget and put the business on a sustainable financial footing.
The consequences of a failure to find a buyer or new investment were unclear on Saturday, although the emergence of the process comes amid increasingly bleak warnings from across the hospitality industry.
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Last weekend, Sky News revealed that a letter co-ordinated by the trade body UK Hospitality and signed by scores of industry chiefs – including Mr Hofma – told the chancellor that left unaddressed, her Budget tax hikes would result in job losses and business closures within a year.
It also said that the scope for pubs and restaurants to pass on the tax rises in the form of higher prices was limited because of weaker consumer spending power.
That was followed by a similar letter drafted by the British Retail Consortium this week which also warned of rising unemployment across the industry, underlining the Budget backlash from large swathes of the UK economy.
Even before the Budget, hospitality operators were feeling significant pressure, with TGI Fridays collapsing into administration before being sold to a consortium of Breal Capital and Calveton.
Sky News recently revealed that Pizza Express had hired investment bankers to advise on a debt refinancing.
HWS operates all of Pizza Hut’s dine-in restaurants in Britain, but has no involvement with its large number of delivery outlets, which are run by individual franchisees.
Accounts filed at Companies House for HWS4 for the period from 5 December 2022 to 3 December 2023 show that it completed a restructuring of its debt under which its lenders agreed to suspend repayments of some of its borrowings until November next year.
The terms of the same facilities were also extended to September 2027, while it also signed a new 10-year Pizza Hut franchise agreement with Yum Brands which expires in 2032.
“Whilst market conditions have improved noticeably since 2022, consumers remain challenged by higher-than-average levels of inflation, high mortgage costs and slow growth in the economy,” the accounts said.
It added: “The costs of business remain challenging.”
Pizza Hut opened its first UK restaurant in the early 1970s and expanded rapidly over the following 15 years.
In 2020, the company announced that it was closing dozens of restaurants, with the loss of hundreds of jobs, through a company voluntary arrangement (CVA).
At that time, it operated more than 240 sites across the UK.
Mr Hofma and Interpath both declined to comment.
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