Patty & Bun to open Liverpool Street 2.0 next month as brand returns to double figures: Patty & Bun, the better burger concept led by Joe Grossman, will return to Liverpool Street next month but in a larger space. The company’s original Liverpool Street site had to close because of a redevelopment. Patty & Bun Liverpool Street 2.0 will open on Monday, 9 December at twice the size of the original and featuring a 50-cover restaurant and 15-cover takeaway area. The venue will also feature additions to the menu including a stronger vegan presence and the return of the brand’s breakfast menu on Fridays. Grossmann said: “I couldn’t be more excited about re-entering the Liverpool Street fray. It has always been part of the Patty identity.” The Liverpool Street opening and another in Kingly Street, Soho, later this month will bring Patty & Bunn’s portfolio back to double figures. The company also operates concessions in Swingers’ two London sites plus three with Incipio Group. Pizza Hut Restaurants launches virtual delivery brand: Pizza Hut Restaurants has launched its first virtual delivery brand, WingStreet, Propel has learned. The virtual brand is available through Deliveroo and at select restaurants, including sites in Durham Read More

Sbe to make first foray into coffee shop market with London launch: Sbe, the international hospitality group that develops, manages and operates brands, is to make its first foray into the coffee shop market with a launch in London. EllaMia will make its debut at the St Martins Lane hotel in Covent Garden on Monday, 18 November. Further openings in key markets such as New York, Doha and Dubai are in the pipeline, with more than 20 locations expected globally by 2021. Sbe founder and chief executive Sam Nazarian said: “I am proud to launch EllaMia in London – one of the culinary capitals of the world. The style and elevated atmosphere of St Martins Lane hotel is the perfect setting for EllaMia’s debut. At Sbe we constantly strive to provide extraordinary, innovative experiences and can’t wait to see our latest concept grow into a successful brand with locations around the world.” EllaMia is named after Nazarian’s two daughters. It will offer barista coffee, tea, kombucha and freshly made smoothies and protein shakes. A selection of light bites, freshly made sandwiches and savoury dishes will also be on offer. Sbe said EllaMia would be an integral part of the company’s Read More

PizzaExpress lenders order £100m cash injection: PizzaExpress’ lenders are demanding a cash injection of at least £100m despite China-based owner Hony Capital’s attempts to buy back tens of millions of pounds of debt. Hony Capital announced on Wednesday (6 November) it would buy back heavily-discounted debts with a face value of £80m. However, insiders have urged Hony Capital to pour cash directly into the company rather than buying back bonds, The Sunday Telegraph reports. One insider told the newspaper: “This is Hony seeing bonds that are cheap and picking them up. It’s not Hony fixing the balance sheet. It’s not Hony giving comfort it can get over the refinancing wall. We want it to address the balance sheet.” PizzaExpress is struggling to repay £1.1bn of loans amid spiralling losses. Of those, £665m is owed to bondholders, which must start being paid in 2021. The bonds are trading at a heavy discount and being bought by hedge funds. They could seek to wrestle control of the company and cause fresh complications to what are already expected to be difficult restructuring discussions. PizzaExpress has appointed restructuring experts from Holihan Lokey and lawyers from US firm Kirkland & Ellis to assist with restructuring Read More

Crosstown Doughnuts appoints advisers as it eyes investment options:Crosstown, the artisan doughnut and speciality coffee concept, has appointed advisers as it looks at investment options following multiple approaches, Propel has learned. The concept, which was founded by JP Then and Gourmet Burger Kitchen co-founder Adam Wills, is understood to have appointed advisory firm BDO to aide it in securing new growth funding. Crosstown operates 11 stores across London plus nine market stalls and kiosks. It has been one of the fastest-growing concepts in London since its inception in May 2014. The group’s products are also stocked in Harrods, Planet Organic and Whole Foods. It is thought any new investment would be used to further expand the brand’s physical store estate and aide its multi-channel approach with a focus on digital sales, which account for 20% of Crosstown’s business. The company has also developed its own delivery e-commerce solution, Slerp. Crosstown piloted Slerp in its own stores before launching it to market as a separate entity and it is now available to other operators. Last year the company launched its first vegan-only outlet, in Picton Place, Marylebone, while this year it launched a smaller kiosk at Hammersmith Broadway station with hopes Read More

Wagamama strengthens finance leadership team for next stage of growth: The Restaurant Group-owned brand Wagamama has made changes to its finance leadership team ahead of its next wave of growth, Propel has learned. David Di Cello has been appointed chief financial officer. He will join the business at the end of the first quarter of 2020 from Pret A Manger, where he is leading the EAT integration and previously served as finance director and interim chief financial officer. Di Cello has also held senior finance roles at Marks & Spencer, Sainsbury’s and BT. Laura Wood, currently interim finance director, will be promoted to strategy director on Di Cello’s arrival. Her new role will see Wood responsible for growth initiatives and Wagamama’s transformational change agenda. Chief executive Emma Woods said: “We have enjoyed more than five years of market outperformance thanks to the huge contribution of our teams and leaders across every function and a relentless focus on guest-led innovation. As we enter what will be a tough market in 2020, I’m delighted to have such a strong finance team supporting our next wave of growth.” Di Cello added: “I have loved working with the Pret and EAT teams over the Read More

Patty & Bun to open second Soho site after securing former Breddos Tacos venue: Better burger brand Patty & Bun is to open its second Soho site. The company has secured the former Breddos Tacos site in Kingly Street for an opening this month. The restaurant will seat 65 upstairs and offer Patty & Bun’s classic menu of burgers and collaboration dishes. Founder Joe Grossmann said: “We are pumped to open at this iconic London landmark! It’s amazing to be part of the Shaftesbury estate with so many great restaurants and shops. We can’t wait to get open and become part of the community.” Patty & Bun currently operates eight sites in London including its other Soho venue, in Goodge Street, as well as a series of concessions. Erpingham House to proceed with Brighton opening despite unsuccessful £250,000 crowdfunding campaign: Erpingham House, the UK’s largest plant-based restaurant, will push on with plans to launch in Brighton despite failing to raise £250,000 on crowdfunding platform Crowdcube towards the project, Propel has learned. Erpingham House founder Loui Blake said the project would still go ahead after he agreed terms on a site in Duke Street. Blake was offering 15% equity for the Read More

Supper raises £1.5m: London-based premium food delivery service Supper has closed a Series A funding round of circa £1.5m. Before that, Supper had taken angel investment from a handful of investors including PK Wang, of Yi Fang. Tim Marchant, co-founder of Moscar Capital, which led the round, said the company made the investment because Supper was already showing “great potential upside with a clear path to profitability”. He added: “Delivery can be done better – and Supper has proved it.” Founded by Peter Georgiou in 2015, Supper uses a fleet of specially adapted scooters and directly employed drivers to cater for the premium end of the market, setting it apart from sector heavyweights such as Deliveroo and UberEats. Georgiou told Propel: “Delivery is the fastest-growing area in food and beverage, with differing levels of quality and service that often don’t match the operator. This investment underpins what we’ve set out to achieve at Supper – offer the best of both. We’re in talks with a number of prominent operators that want to enter the ‘on demand’ space but require a service more in keeping with their brands. This funding couldn’t have come at a better time to expand our profile.” Read More

Loungers appoints new property director: Loungers, the operator of 160 neighbourhood cafe-bar restaurants that trade under the Lounge and Cosy Club brands, has appointed Tom Trenchard as property director, Propel has learned. Trenchard, who replaces Rob Walls, was previously head of acquisitions at The Restaurant Group-owned Wagamama and prior to that head of property development at Sainsbury's. A Loungers spokeswoman said: “Tom is a fantastic hire for Loungers. His blend of roll-out experience in both the leisure and retail sectors is a great fit with our business as we look to maximise the significant opportunity we have with both brands across the UK.” Loungers continued its programme of openings in October by launching Cosy Club in Plymouth and Lounges in Carmarthen and Buxton. The group previously reported like-for-like sales grew 5.4% for the 24 weeks ending 6 October 2019. Total revenue for the period was up 22% over the prior year, to £79.8m. The group said it was on track to open 25 sites in the financial year and the pipeline remains “strong”. Rockfish reports turnover up 15% in year that was ‘real turning point’ for business: Rockfish, the south west-based seafood restaurant group run by Mitch Tonks, has reported Read More

St Austell adds pub on outskirts of Bristol to tenanted portfolio: Cornwall-based St Austell Brewery has acquired The Rising Sun in Pensford, on the outskirts of Bristol. The pub will become part of St Austell Brewery’s tenanted estate and be run by Lisa Faulkner and Becca Fricker. The Rising Sun has a large riverside garden and is nestled at the foot of Pensford Viaduct by the River Chew. It serves fresh home-cooked food as well as local cask ale and cider. Steve Worrall, retail director at St Austell Brewery, said: “The Rising Sun is a wonderful acquisition for the company and a natural fit with the rest of our tenanted pub portfolio in the Bath and Bristol area, which also includes The Albion in Clifton and The Lamplighters in Shirehampton. As a business, we have an ongoing strategy to strengthen our award-winning estate of pubs and hotels across the south west. With more than 160 years’ experience of championing the pub as the focal point of the community, we look forward to developing the Rising Sun’s offering in partnership with Lisa and Becca.” In total, including its managed houses, St Austell Brewery owns more than 175 pubs, inns and hotels Read More

Healthy bowls concept Beiriso launches £300,000 crowdfunding campaign for expansion: Healthy bowls concept Beiriso has launched a £300,000 fund-raise on crowdfunding platform Crowdcube to expand to “prime London locations”. The company, founded by restaurant designer Roya Andrews, is offering 10.71% equity in return for investment, giving the company a pre-money valuation of £2.5m. Beiriso offers click and collect and delivery services from its kitchen in Holborn, north London. The pitch states: “After opening our London kitchen four years ago, serving food to more than 240 customers a day, we are seeking funding to expand our community by adding retail outlets in other prime locations. We focus on fresh healthy food made fast and know presentation is paramount. We believe packed lunches are old-fashioned and, as income levels stand still while living costs rise, students and office workers want value for money without losing taste. We have managed to fine-tune serving made-to-order breakfast and lunch to two to three minutes. A good-portion size with high-quality ingredients has been accomplished at affordable prices and we intend to maintain this with our streamlined operational processes. We propose to increase opening times to seven days and extend operating hours to include evening meals. We Read More

Soho House secures $100m from US property investors to expand private members’ club empire: Soho House has secured $100m (£78m) of funding from US property investors to expand its private members’ clubs empire. The operator of 26 clubs has sold a circa 5% stake to a group led by New York-based entrepreneur Bippy Siegal’s Raycliff Capital, including a significant investment from malls landlord Simon Property Group. Founder Nick Jones, restaurateur Richard Caring and American billionaire Ron Burkle remain the majority owners of Soho House, which is now valued at $2bn. The new funds will aid growth, with plans to open sites in 2020 and 2021 including in London, Paris and Mykonos. Chief commercial officer Andrew Carnie, who joined this year from US retailer Anthropologie, will also lead Soho House’s push to launch more Soho Works venues, which feature office and events space for entrepreneurs and startups. Soho House recorded a statutory pre-tax loss of £65m million in 2018, widened from a £60m loss a year earlier. That was due to expansion costs. Underlying profits rose to £56.4m from £50.5m. Turnover leapt 20% to £432.5m and comparable sales increased 9%. Jones told the Evening Standard: “2018 was an extremely busy year Read More

Incipio Group appoints Brand as finance director: Incipio Group, which received £5m from entertainment and leisure investor Edition Capital earlier this year to open six venues in 18 months, has appointed Tom Brand, formerly of Jascots Wine Merchants and Amnesty International, as its new finance director. Brand spent more than a year and a half at Jascots as its head of finance. Previous to that, he spent more than three years at Amnesty, including a stint as its head of management accounts and procurement. Incipio will launch its latest site in Kensington next month. The company will open Bloom in Kensington High Street on Friday, 8 November, having acquired the site that was previously occupied by Mahiki. Bloom will have room for 350 people and feature two bars, a restaurant and a “secret dance floor”. Incipio’s estate consists of Lost in Brixton, Pergola On The Roof in White City, Pergola Olympia, Pergola Paddington, The Prince in West Brompton Crossing, Feast in Hammersmith and W12 Studios in White City. In the next 18 months the group will launch sites in Putney, Wimbledon and Birmingham, the latter being its first outside London. The company recently launched Wildcard Kitchen – its first in-house Read More

YO! to launch ‘grab ‘n’ perch’ concept: YO!, the Richard Hodgson-led global multi-brand, multi-channel Japanese food group, is to make a return to the grab and go market by launching a standalone YO! To Go site in Manchester’s Piccadilly station early next month. Described by the company as a “grab ‘n’ perch” concept, consumers can take away products or enjoy them in-store. The site will also look to ramp up the group’s sustainability credentials and feature sushi trays that use ground-breaking, water-based technology that means they can be processed by any recycling facility. A second site under the standalone format is expected to launch next year in Brunel Square, Bath. The group previously trialled a standalone YO! To Go unit at London’s Charing Cross station but it closed a few years ago. The company is currently extending its YO! To Go trial with Tesco following a two-store pilot, with plans to open counters in up to 40 stores by the end of February. Hodgson told Propel: “Following the work we did on the YO! To Go offer a few years back the range has seen amazing growth with like-for-like to-go sales up 23% last year. We’re excited about trialling this Read More

Whitbread plans more than 2,000 Premier Plus rooms in next 18 months: Whitbread has said it plans to have more than 2,000 rooms operating under its new Premier Plus format within the next 18 months. The company has introduced the model at two central London hotels, where 38 rooms are operating in total on separate floors to standard rooms. Whitbread said so far it had tested a daily rate uplift of between £10 and £20 and was seeing “very strong demand and high satisfaction scores” from business and leisure customers alike. The company will have more than 500 rooms in trial before the end of 2019 and has identified in excess of 2,000 rooms to be converted to the model. Premier Plus features include an improved workspace, a rainfall shower with luxury toiletries and a Nespresso machine with pods supplied. Whitbread chief executive Alison Brittain told analysts during a presentation of its interim results that not every Premier Inn was suited to the upgraded room format. She said where it was introduced, about 10% to 15% of rooms in the hotel would be Premier Plus. She added: “I wouldn’t encourage anybody to model 76,000 rooms with a £20 uplift and Read More

Crussh expects return to positive Ebitda on back of FY sales growth as diversification strategy starts to deliver, launches honesty kiosk trial: London-based healthy food and juice brand Crussh expects to return to positive Ebitda levels in its current financial year while it has launched a trial of “honesty kiosks”, Propel has learned. Crussh, which has seen full-year sales grow more than 10% as its diversity strategy starts to deliver, has partnered with shared workspace company WeWork to offer unmanned tills and fridges of food and drink at four of its sites in the City of London. Meanwhile Crussh, which has also seen full-year site Ebitda almost double to £1.5m from £822,000 the year before, has further strengthened its partnership with Sodexo and its footprint outside London with a site at the University Of The West Of England in Bristol – their third site together. Crussh also recently raised circa £700,000 from new and existing shareholders to continue the refit of its company-owned stores to the brand’s “new look”, with nine stores revamped so far in its current financial year. Chief executive Shane Kavanagh told Propel he was focusing on growing the partnership and product supply strands of the businesses Read More

Gail’s reports like-for-likes up more than 8%: Gail’s Bakery, which is backed by sector investor Luke Johnson, has seen like-for-like sales grow more than 8% in the first half of this financial year, Propel has learned. The company, which has 53 outlets, is set to open four sites in the next month with further plans to develop a grab-and-go coffee offer within transport hubs as it looks to double its number of premises in three years. Gail’s managing director Marta Pogroszewska told Propel the business, which specialises in freshly baked bread and pastries alongside a premium coffee offer, is feeling “quietly confident current growth is sustainable in the mid to long-term”. She said: “We are operating in a difficult climate and acknowledge things can go wrong but, having looked carefully at our business model, we feel confident we can continue to increase our volumes year on year.” The company is set to be trading from 60 sites by the end of its financial year, March 2020, including Willesden Green in north west London, which will launch on Friday, 1 November. This will be followed in quick succession by Gloucester Road in Kensington, Cambridge and Islington, north London. Pogroszewska said: “We Read More

Barburrito cuts London estate as it refocuses operation: Barburrito, the BGF-backed Mexican chain, has exited two of its three London sites, Propel has learned. The circa 20-strong company has exited its sites in Hammersmith and Farringdon, leaving it with a venue at Paddington station. The company recently opened a site with TRG Concessions in Gatwick airport in Sussex and has signed up to launch a site in the Manchester airport extension. Founder and chief executive Morgan Davies told Propel: “Hammersmith and Farringdon were nice sites but, at the end of the day, weren’t suited to our model. In the end, we received good offers to exit and took the opportunity to refocus our operation. All staff have been given the option to relocate and we have strengthened the team at Paddington, which continues to trade well. We are committed to London and will open stores in the capital in due course. In the meantime, it’s great to be operating in two of the capital’s strongest transport hubs. Overall trade remains strong and ahead of sector benchmarks.” Amber Taverns makes Scottish debut, bulk of acquisitions coming from retail:Community pub operator Amber Taverns has made its debut in Scotland while the bulk Read More

German Doner Kebab brings in former TGI Friday’s International marketing boss as global CMO: German Doner Kebab, the flagship brand of Hero Brands, has appointed Murray Willows as global chief marketing officer to spearhead its growth and development. Willows joins from TGI Friday’s International and will be tasked with continuing to develop consumer awareness of German Doner Kebab and building on its growing profile. The brand is now rolling out aggressively throughout Europe, the Middle East and the US, with more than 700 franchises already signed up to the German Doner Kebab project globally. Willows’ appointment comes as German Doner Kebab forges ahead with plans to open 100 stores in Saudi Arabia in the next ten years. Chief executive Imran Sayeed said: “Murray’s wisdom, experience and know-how speak for themselves and I believe his appointment is a powerful statement about the direction the company is taking.” Willows was chief marketing officer at TGI Friday’s International with responsibility for marketing, food and beverage development, and restaurant design in 52 international markets. Willows’ career also includes a number of roles at Yum! Brands, where he was vice-president and chief marketing officer for Pizza Hut in the UK, vice-president marketing for Pizza Hut Read More

Marston’s boss – finding good people has got tougher, Pitcher & Piano off the market: Marston’s chief executive Ralph Findlay told Propel it has become tougher to find and retain chefs and general managers. The company is increasing investment in training in the coming year to strengthen its pipeline of internal general managers. Speaking following the company’s full-year trading update, Findlay said: “Cost pressure has remained pretty relentless for a number of years. One area were it has got tougher is in relation to people – the sector has a real challenge in finding good labour. We are operating in an environment where we pretty much have full employment – people have got choices.” Findlay told Propel the company has been working to ensure continuity of supply ahead of Brexit, with a focus on identifying alternative suppliers in the event of problems. Meanwhile, Findlay reported he was seeing strong market demand for assets the company was lining up for sale, with sales proceeds expected to be £70m rather than the £40m previously targeted. However, Findlay indicated he didn’t expect to sell Pitcher & Piano, which has been on the market and operates circa 20 sites in England and Wales. Reflecting Read More

Tipping law changes would add ‘another unwanted burden’ on sector businesses: The government’s proposed changes to tipping legislation threaten to add “another unwanted burden” on businesses, UKHospitality chief executive Kate Nicholls has said. The proposed new law, outlined in the Queen’s Speech, would require employers to pass on all tips to staff in full. Nicholls said: “Legislation on tipping threatens to add another unwanted burden on businesses at an already hectic time. Any new measures need to have full input from businesses that will be affected. We already have a transparent and fair voluntary code of practice regarding the collection and sharing of tips. The code makes it clear to businesses, employees and customers how tips can be fairly shared so all team members get what they deserve and customers can be confident the money they tip is going to the correct place. Deductions are sometimes made to service charges as hospitality businesses are charged by banks to process payments. If the full amount is to be passed on, hospitality businesses are going to be forced to foot the bill. If there’s a new legal obligation to pass on the full amount of a service charge, there needs to be Read More

PizzaExpress refutes report on site closure numbers: PizzaExpress has moved quickly to refute a report over the weekend it could be forced to close about 40% of its circa 470 sites in the UK. The Sunday Telegraph reported the Hony Capital-backed chain could be forced to close two-fifths of its restaurants, putting thousands of jobs at risk. One source told the newspaper bondholders were considering entering into a company voluntary arrangement, which would see more than 150 restaurants and about 3,300 jobs under threat. However, a PizzaExpress spokesman told Propel: “95% of our UK and Ireland restaurants are profitable and there are no plans for closures outside the normal course of business.” Earlier this month PizzaExpress hired adviser Houlihan Lokey ahead of debt talks with creditors. Separately, a group of secured bondholders started working with Perella Weinberg Partners after appointing law firm Latham & Watkins in July. The restaurant group has £465m of secured bonds due in August 2021 and £200m of unsecured notes due a year later, indicated at 84p and 23p in the pound respectively. Earlier this summer it was thought PizzaExpress and China-based Hony were reviewing its capital structure, with a restructuring of the business likely. Sector Read More

Patty & Bun to open two sites before year-end: Patty & Bun, the better burger concept led by Joe Grossman, plans to open two sites in London by the end of the year. The group, which operates eight venues under its core brand, is set to take over the Breddos Tacos site in Kingly Street, Soho, with an opening planned for late November. The move will be followed by a return to Liverpool Street. The company opened its second site in Liverpool Street but had to close it for more than a year because of a redevelopment. It now plans to reopen at a larger site in Liverpool Street in December. The company also operates concessions in the two London-based Swingers sites, plus three with Incipio Group. The sale of the Kingly Street site would leave Ennismore-backed Breddos Tacos with one venue – in Goswell Road, Clerkenwell. Stack & Still opens third site as it marks first anniversary: Glasgow-based operators Paul Reynolds and Graham Swankie have opened a third site for their pancake house concept Stack & Still. The venue has opened at the Glasgow Fort shopping centre – a year after the debut site launched. Having opened the inaugural Read More

Imbiba invests £2.5m more in Farmer J: Imbiba, the specialist investor in the UK leisure and hospitality sector, has invested a further £2.5m into London-based, all-day market concept Farmer J, Propel has learned. The new funds follow the £1.9m Imbiba invested in the Jonathan Recanati-led business at the start of the year. Imbiba’s latest investment is joined by a further £250,000 cash injection from other existing shareholders to support Farmer J’s expansion across the UK. It’s thought Farmer J has a strong pipeline of sites coming to market, with an immediate focus on central London areas with a high density of workers. Propel understands since the initial investment the company, which features build-your-own grab-and-go “field trays”, has continued to thrive. In the past year Farmer J reported double-digit like-for-like sales growth at its two sites in the City and opened a site in Canary Wharf. The company recently opened a fourth site, near Liverpool Street station. Recanati founded Farmer J in 2016 and is joined by creative chef Nick Sandler, former development chef at Pret A Manger; operations director Noel D’Arcy; marketing director Ali Recanati; and Kevin Todd, non-executive director and former group managing director of Mitchells & Butlers. Shareholders Read More

Gusto to resume expansion after rise in FY sales: Italian casual dining group Gusto, which has been backed by Palatine Private Equity since 2014, is to resume its roll out and explore non-traditional locations for the brand after reporting a slight rise in full-year sales. Managing director Matt Snell told Propel that as the 18-strong group entered the second year of its three-year strategic plan, expansion was back on the table, with the company already in discussions on several potential sites. He told Propel: “We would hope to open two to three sites in the next year. We are looking at opportunities in the south and want to develop hubs. Gusto has traditionally been in high streets but we want to start exploring new types of location and look at shopping centres, new schemes and transport hubs.” For the year to 31 March 2019, turnover climbed from £32.2m to £32.35m, while Ebitda was maintained at £3.2m. Pre-tax losses at the group narrowed from £2.4m to £2.06m, while operating losses narrowed from £759,000 to £11,000. The company labelled the results a “very good performance in a pressurised market”. Snell said: “We are one year into our three-year strategic plan and it’s Read More

Burger & Lobster plans US openings, group Ebitda up 13%: Burger & Lobster is planning up to ten openings globally as the company reported an increase in group Ebitda and turnover. The 17-strong company saw group Ebitda climb 13% in the year to the end of 2018 to £7.16m, with total group turnover rising 28% to £53.6m. In the UK, full-year turnover fell 10% to £37.9m, with Ebitda down from £6.17m to £5.68m. In the US, where the group operates two sites in New York, turnover climbed 15% to £11.9m. The company told Propel the focus of its openings would be in Europe, Asia and the US. In the latter, it is looking at Dallas, Chicago, Boston and Philadelphia. Regarding its UK business, chief financial officer Dasha Ovchenkova told Propel: “Gross profit margin increased to 65% from 61%. The success is attributable to better labour and food and beverage cost controls. Group turnover decreased 10% due primarily to the sale of our Manchester site but our obligations relating to all closed property has come to an end. Overall Ebitda is £5.7m versus £6.2m in 2017 due to a challenging operational environment in London for casual dining.” Regarding the US business, Read More

CG Restaurants & Bars reports turnover boost: CG Restaurants & Bars, which operates the Dirty Martini brand, has reported turnover increased 18.5% to £26,414,561 for the year ending 31 December 2018, compared with £22,296,624 the year before. Ebitda was down 5.6% to £889,664, compared with £940,000 the previous year. Operating losses rose to £538,733 compared with £273,579 the year before, while pre-tax losses were up to £903,889 compared with £579,702 the previous year, when the group sold one of its sites. Gross profit margin was up slightly to 56.4% from 56.3%, according to accounts filed at Companies House. In their report accompanying the accounts, the directors stated: “The group’s turnover rose as a result of a bar acquired in the year in Birmingham and there was a full year of trading at the Manchester and Leeds sites. On an underlying basis, the group results improved this year as last year’s results include a gain of about £736,000 for the sale of one of its bars. Comparing like-for-like, last year’s group loss, excluding the gain from this sale, would have been £1,174,000 compared with this year’s loss of £903,000.” CG Restaurants & Bars operates 11 Dirty Martini sites – seven in Read More

Rick Stein sees sales rise 4.3% at restaurant business in first half of 2019 as it reports full-year profit drop, agrees new £7m banking facility: Chef Rick Stein has seen sales at his restaurant business rise 4.3% in the first half of 2019 and agreed a new £7.0m banking facility. The announcement comes as the company reported a dip in full-year profits, with increased regulatory costs taking their toll. Turnover was down 0.6% to £16,784,000 for the year ending 30 December 2018, compared with £16,879,000 the year before. Ebitda fell to £1,032,000, compared with £1,447,000 the previous year. Operating profit dropped to £381,000 compared with £986,000 the year before, while pre-tax profit was down more than half to £489,000 compared with £1,008,000 the previous year, according to accounts filed at Companies House. Capital expenditure reduced to £497,000, compared with £1,418,000 the year before. In their report accompanying the accounts, the directors stated: “Turnover was down last year and profitability was down largely due to increased regulatory costs – the Living Wage, business rates, Apprenticeship Levy and pension audit enrolment. Wage costs were up 5% to £7,564,000 (2017: £7,234,000) with a wages to sales ratio of 45.1% (2017: 42.9%). Sales for Read More

Hakkasan Group plans ten openings in Mexico through new partnership: UK-based restaurant and nightclub company Hakkasan Group plans to open ten venues throughout Mexico as part of a new partnership with hospitality and development company Dinar. The openings, which follow Hakkasan’s launch of Omnia dayclub in Los Cabos last year, will be in Mexico City, Guadalajara and Monterrey between 2020 and 2026. The partnership will begin with the opening of Hakkasan’s Cantonese dining concept Ling Ling in Mexico City in the latter part of 2020. Ling Ling Mexico City will be on the top floor of Chapultepec Uno, a mixed-use, 58-storey skyscraper that will be Mexico City’s third-tallest building on completion. “We have had great success with our openings in Los Cabos and have been eager to continue the momentum throughout the country,” said Michael Ryan-Southern, chief financial officer of Hakkasan Group. “As an international hub that attracts epicurean and discerning travellers, Mexico City has been on Hakkasan Group’s radar for quite a while. We’re thrilled to work with the visionaries at Dinar to bring Ling Ling to the city next year and introduce further restaurants in the coming years.” Javier Romo, managing partner and owner of Dinar, added: “We Read More

M&B sites converted to Ego restaurants under joint venture seeing 80% sales uplift: Mitchells & Butlers (M&B) sites that have been converted to Ego venues under its joint venture with 3Sixty Restaurants, led by James Horler, are seeing an 80% uplift in sales on average, Propel has learned. Seven sites have opened since M&B formed the partnership in August last year when it bought sector investor Luke Johnson’s minority share in 3Sixty. The eighth venue since the joint venture – Manor Farm in Worcester – will launch next month. Work is currently under way to transform the former Stonehouse Pizza & Carvery to the Mediterranean-inspired restaurant and bar concept, taking it to 20 venues in total. Horler told Propel: “We are seeing a considerable sales uplift from the new M&B sites – 80% in fact. We’ve seen strong like-for-like performance this year and we’re running ahead of budget. For example, total sales in August were up 39% on last year. We’ve got 67 staff with more than five years’ service and 30 have been with us more than ten years. We’re also working on developing our offering further and we’ve got 241,000 Ego Club members.” Horler said following the Worcester Read More

Shepherd Neame boss – sector corporate activity sparks more opportunity not sales talk: Jonathan Neame, chief executive of Kent brewer and retailer Shepherd Neame, has told Propel he believes recent corporate activity in the sector will lead to even more opportunities for the business. Ei Group and Greene King have both been bought in multibillion-pound deals in recent months, while Fuller’s sold its beer business to Asahi earlier this year. Speaking following Shepherd Neame’s full-year results, Neame said he had “no intention” of going down the same path and, while he admitted he had been “surprised” by the level of activity, he believes it will prove advantageous to his business in a “number of ways”. He said: “I think it makes our position in the market more distinct, unique and will lead to more opportunities for our beer and pubs businesses. Consumers are looking for independent, community-focused businesses that are authentic and run by people they can associate with. That’s why our model works and will continue to work. We see continued growth in all three areas of the business – beer, pubs and accommodation – and we only see those opportunities getting bigger as a result of those deals. Read More

Premium Indian restaurant concept Copper Chimney to make UK debut: Copper Chimney, a premium Indian restaurant concept, is to make its UK debut this autumn at Westfield London. Propel understands the concept, which was founded by JK Kapur in Bombay in 1972, is taking a space at the scheme’s extension, joining Puttshack, All Star Lanes and ETM Group. Davis Coffer Lyons is acting on behalf of Westfield London on its F&B lettings. In a job spec for the new sites, the concept states: “Copper Chimney is an award-winning, internationally renowned restaurant brand coming to Westfield London this autumn. Copper Chimney is an ode to secret recipes and cooking techniques from across undivided North India. Copper Chimney serves a flavourful melange of its signature Indian dishes, flavours and ingredients to deliver an unforgettable dining experience.” The company operates 16 restaurants across India. Le Cordon Bleu to launch flagship London restaurant after acquiring Prescott & Conran site in Fleet Street: Le Cordon Bleu is to open a flagship London restaurant after acquiring the lease of the site in Fleet Street that housed Prescott & Conrans’ Lutyens. Davis Coffer Lyons, acting for administrators Stephen Clancy and Benjamin Wiles, of Duff & Phelps, completed Read More

Benugo reports turnover up to £116m: Benugo, the operator of deli cafes and catering in high-profile venues such as the Natural History Museum and the Victoria & Albert Museum, has reported turnover rose 3% to £116,096,000 for the year ending 28 December 2018, compared with £112,738,000 the previous year. The company said the increase was due to the full-year impact of contracts won in 2017 offset by the strategically exiting of some poor performing sites. Operating profit and profit before tax dropped to £3,878,000, compared with £4,670,000 the year before. Capital expenditure during the period was £5.2m, compared with £4.7m the previous year. At the end of the period net assets stood at £32.1m, compared with £29.2m the year before. Cash and cash equivalent was up to £6.8m from £6.1m the previous year. The company reported a total of £23,854,000 in tax borne or collected by Benugo, compared with £23,775,000 the previous year, according to accounts filed at Companies House. In their report accompanying the accounts, the directors stated: “As an employer with a significant number of employees but operating in a relatively low-margin sector, corporation tax alone is not a balanced reflection of total tax contribution made by Benugo.” Read More

Wells & Co trials sales sharing tenancy agreement: Bedford-based brewer and retailer Wells & Co is trialling a new sales sharing tenancy agreement, Propel has learned. With no payable rent, a “low” security deposit and all utilities paid for by Wells & Co, the company said the agreement allowed “newcomers to the industry to gain a foothold in the world of hospitality”. The first pub to operate under the agreement is the Rose & Crown in Newport Pagnell, Buckinghamshire. The pub has reopened after being closed for eight months and is being run by Robin Smith and Lynn Reeves. A Wells & Co spokesman told Propel: “We have decreased the personal investment and risks typically associated with opening a new pub venture. By removing barriers to entry, we aim to attract talented entrepreneurial individuals who otherwise wouldn’t have had the opportunity. Once on board, all pub partners taking up the agreement will also benefit from a comprehensive support package from Wells & Co including a full retail induction programme as well as marketing, financial and licensing support, leaving our partners free to focus on growing their business. The sales sharing agreement will allow our pub partners to be their own Read More

Deliveroo strengthens management team with former Restaurant Brands hire:Deliveroo has moved to strengthen its management team by appointing a senior executive from Burger King and Tim Hortons owner Restaurant Brands International (RBI). Propel understands the company has appointed Stephen Goldstein, former senior vice-president – head of business development/mergers and acquisitions, RBI EMEA, as head of global business development and strategic partnerships. Goldstein spent more than four years at RBI including a stint as senior vice-president – president at Tim Hortons USA. He follows the appointment earlier this year of Cengiz Rahmioglu, former strategy director at Leon, as Deliveroo’s new head of restaurant strategy. Propel revealed last week that Dan Warne, Deliveroo managing director for UK and Ireland, had unexpectedly left the business. Warne had led the UK and Ireland business since August 2014 and was also vice-president for global strategic partnerships. Warne is understood to have played a key role in the growth of the business in the UK and building key operator relationships. Deliveroo is believed to be searching for a successor for Warne. Connection Capital takes stake in Rosa’s Thai Cafe as brand targets 45-strong UK portfolio in next five years: Private equity firm Connection Capital has acquired Read More

Sticks ‘n’ Sushi promotes Andreas Karlsson to chief executive: Denmark-based Sticks ‘n’ Sushi has promoted group chief operating officer Andreas Karlsson, who has overseen the company’s expansion in the UK, to chief executive and hired former TDC Group vice-president Jens Aalose as chairman of the board. Aalose will replace Erik Holm, managing partner of Danish private equity firm Maj Invest, while Rod McKie’s place will be taken by Karlsson. McKie told Propel: “After many years of leading the UK successfully it’s time for Andreas to take the helm. Taking the challenge to lead the business and coming off the board, after 15 months it is time for me to step back on to the board and Andreas’ considerable international experience will ensure the business continues to expand in all three countries.” Karlsson told Propel: “I am delighted to be given the trust and support from the board to continue to lead our teams on this exciting journey and further develop Sticks ‘n’ Sushi.” Maj Invest took a 49% stake in Sticks ‘n’ Sushi in 2013, while the founders remained the majority shareholders with a 51% stake. At the time, Maj Invest’s aim was to expand the chain’s presence internationally. Earlier Read More

  Pret A Manger chooses Canary Wharf EAT for first Veggie Pret conversion: Pret A Manger, the JAB Holdings-backed chain, has chosen the EAT store in London’s Canary Wharf as the first to become a Veggie Pret since it acquired its 90-strong fresh food-to-go rival in June, Propel understands. At the time the deal was agreed, Pret said it planned to convert as many of EAT’s stores as possible to Veggie Prets – 75% of EAT’s estate is in London with many close to an existing Pret. It has since placed circa 15 EAT sites on the market, including 13 in London. A Pret spokesman said: “Yes, the Canary Wharf EAT site will be the first one to become a Veggie Pret. We continue to want to convert as many as we can and are currently finalising a review of the EAT estate to assess which ones can be converted.” The first permanent Veggie Pret launched in September 2016 and the concept has expanded to three further locations in London and Manchester. Pret’s then-chief executive Clive Schlee said at the time of the EAT acquisition: “The purpose of this deal is to serve a growing demand of vegetarian and vegan Read More

Wagamama appoints director to oversee international expansion, Hornby acquires shares: Wagamama, The Restaurant Group (TRG)-owned brand, has appointed Daniel Blasco Fernandez to oversee its international expansion. Blasco Fernandez joins Wagamama as director of international franchise. He previously worked for franchise operator Grupo Vips, which operates Wagamama in Spain and Portugal, for 15 years. He takes over from Brian Johnston, who stepped down as Wagamama’s international managing director earlier this summer. Johnston oversaw the expansion of Wagamama outside the US. During the past few years he has put franchise deals in place for the brand to make its debut in Italy, France and Spain. It currently operates 57 franchises sites around the world. Meanwhile, new TRG chief executive Andy Hornby has acquired shares worth circa £300,000 in the Wagamama and Frankie & Benny’s operator. Hornby bought 232,471 shares at a price of 128.40p each, totalling £298,493. His stake following the purchase was not given. Hornby took over as chief executive of TRG at the beginning of last month. Last week TRG reported like-for-like sales rose 4% in the 26 weeks to 30 June 2019. Group like-for-like sales were up 3.7% for the first 34 weeks of the financial year, benefiting from Read More

Azzurri Group to open first Pod conversion site: Azzurri Group, which acquired 13 sites of the 22-strong Pod business out of administration earlier this year, is set to open the first to be converted to its Coco di Mama brand. Propel understands the company is on-site at the Pod in More London for what will become its 24th Coco di Mama site in the capital when it reopens early next month. It’s thought Azzurri will look to complete a few more Pod to Coco di Mama conversions before the end of the year. The majority of the Pod estate was sold to Azzurri Group, owner of the ASK Italian, Zizzi and Radio Alice brands, in a pre-pack administration for a total consideration of £1.6m – more than £1m below its original offer that failed to gain shareholder approval. The pre-pack sale of sites came four days after Pod’s shareholders failed to approve a £2.7m sale to Azzurri Group in a deal that was worth 5p a share. Azzurri has subsequently continued to operate the sites it acquired as Pod, with the intention of converting a number to Coco di Mama during the next 12 months. Azzurri Group chief executive Steve Read More

Childs steps down as YO! people director, brand changes name to highlight menu diversity: Jo Childs has stepped down as people director at YO!, the global multi-brand, multi-channel Japanese food group, after three years with the Richard Hodgson-led business, Propel has learned. Childs joined YO! from Tesco Hospitality, where she spent more than three years as head of people and talent. Before that she had stints at Spirit Group and Living Ventures. For part of her time at YO!, Childs also oversaw the operational side of the business. On her departure, Alyson Hancock has been promoted from head of people to HR director, while Emma Deabill has stepped up from head of operations to director of operations restaurants. A YO! spokeswoman said: “Jo has contributed a large amount during her time at YO! and will be sorely missed. However, we respect her decision to take a break and wish her the best in her future endeavours.” Meanwhile, YO! has changed its name for a limited time from three characters to 121 to highlight the scale of its menu. Visitors to the brand’s Richmond branch are confronted by a sign extending more than 12 feet, with the name combining 17 menu Read More

Warrington-based multiple operator eyes wider north west expansion after acquiring tenth site: Warrington-based multiple operator Priory Inns North West is eyeing wider expansion across the region after growing its portfolio to ten sites. The company has taken its second property with Heineken-owned Star Pubs & Bars – The Gardeners in the village of Timperley. With the pubs located in or around Warrington, Priory Inns North West is now looking to broaden its geographical spread. Director Neil Sparkes said: “We have got no finite number for the size of our business. Our expansion plans will be determined by getting the right team to work for us. Finding pubs for our expansion plans shouldn’t be a problem as there are a lot of good pubs such as The Gardeners and we’ve got a strong record so pub companies like working with us.” The Gardeners has reopened following a £380,000 joint refurbishment and the introduction of food. The interior has been opened up to create an open-plan space seating 120 with an island bar. A new garden has been created at the back with seating for 80 people. David Pritchard, Star Pubs & Bars regional operations director, said: “We are delighted Neil and Read More

TRG bringing Barburrito and Shake Shack to Gatwick, launches new concept in Aberdeen: The Restaurant Group (TRG) is to add US better burger brand Shake Shack to its portfolio with an opening at Gatwick’s North Terminal this autumn. The burger concept will open its debut UK airport site with TRG Concessions at the former EAT venue. It will be Shake Shack’s 11th UK site overall and second outside London. At the same time, Barburrito will replace the Shake-A-Hula unit at North Terminal. The Barburrito site will be the brand’s third partnership with TRG Concessions following venues in Bristol and Edinburgh airports. Meanwhile, TRG Concessions has launched new concept Bocco Italian Kitchen & Bar at Aberdeen airport specialising in “pasta, sourdough pizza and spritz”. On Tuesday (3 September), TRG reported sales through its Concessions business continued to trade ahead of passenger growth to maintain its “strong track record of retaining sites with at least 85% having received contract renewals beyond the term of the initial contract”. TRG Concessions expects to open at least five sites in 2019, with two having already launched including its Sonoma site at Gatwick, which is the company’s largest Concessions restaurant at circa 7,000 square feet and Read More

Trio of south London operators sign for Elephant Park: Three south London-based operators have signed to open at the new Elephant Park development. Ethiopian restaurant Beza, founded by Beza Ethio, is evolving its existing concept to become a 100 % vegan eatery. It will serve a range of dishes, including the national food “teff injera” – 100% gluten-free sourdough flatbread – alongside coffee sourced from Ethiopia. Tasty Jerk, founded by Rayon and Linda Johnson, will offer classic Caribbean dishes such as jerk chicken, curry goat, and ackee and saltfish. Meanwhile, pan-Asian cuisine operator Pot & Rice will be serving rice pot selections, rice pastry (cheung fun) mochi, yuzu cheesecake, fruit tea, and milk tea. The trio will open in Sayer Street at Elephant Park, the £2.3bn regeneration project being delivered by Lendlease and Southwark Council. Beza and Tasty Jerk were previously tenants at Artworks Elephant, Lendlease's pop-up retail park at Elephant Park. The signings follow the launch of the leasing of the next phase of Elephant Park, which comprises 16 food and beverage units totalling 37,000 square feet clustered in two distinct districts – Ash Avenue and New Kent Road, and Chatteris Quarter. Guy Thomas, head of retail at Lendlease, Read More

Incipio Group to take over former Mahiki site in Kensington: Incipio Group, which received £5m from entertainment and leisure investor Edition Capital earlier this year to open six venues in 18 months, has secured a further central London site, after acquiring the former Mahiki site in Kensington. Davis Coffer Lyons (DCL) completed the deal on behalf of the outgoing tenant, David Phelps and Piers Adam, who took on the site in 2012 when it was the former Casino at the Royal Garden Hotel in Kensington. Since then they reopened the space as the high-end restaurant bar and nightclub, Bodo’s Schloss, and later rebranded it as the west London outpost of their infamous Mahiki brand. Upon signing a new 20-year lease for their flagship site Mahiki in Dover Street, Mayfair, they decided to sell the site in Kensington. The leasehold interest was assigned with the lease expiring July 2037. A premium was paid for the 6,000 square foot site on the ground floor of the property, which has a late licence until 3.30am. Jonathan Moradoff, senior director, at DCL, said: “There has been much chatter in the market about the tough trading conditions in the branded restaurant sector and waning consumer Read More

MEATLiquor reports strong quarter of growth: MEATLiquor, the Scott Collins-led concept, has seen a strong quarter of growth, partly driven by a successful first three months of trading from its new West End site. Opened at the start of June, the 11-strong company’s new W1 site in Margaret Street near Oxford Circus, which replaced its original site in Welbeck Street, is believed to have seen consistent growth from £33,000 net sales a week up to more than £79,000 a week. At the same time, its Queensway-based site also managed to top more than £70,000 for a couple of weeks during the same 12-week period and was 50% up on a like-for-like basis against the same period last year. For the past six months, the company, as a whole, is understood to have generated a 10% increase in like-for-like sales. The uptick in sales has also been attributed to the group’s vegan menu options, which it has had in place for more than three years, continuing to gain traction. The company stated: “Despite a difficult economic and political backdrop, it is now a great time to expand. Landlords are being very helpful with rents and cash contributions towards fit-outs. Following the Read More

Old Rope Walks acquires fourth Liverpool site: Liverpool-based pub group Old Rope Walks has acquired its fourth site in the city. The company has taken on the Roscoe Arms, which belongs to Heineken-owned Star Pubs & Bars. The Oldham Street property is set to undergo a £750,000 refurbishment during the next 11 weeks, which will see the venue renamed The Butterfly & The Grasshopper and reopen in mid-November. The investment will transform the building, expanding the pub across three floors to include a ground-floor bar and dining area, and a top-floor gin and cocktail bar. The new name is inspired by William Roscoe’s poem The Butterfly’s Ball And The Grasshopper’s Feast. Old Rope Walks director Mike Girling told the Liverpool Echo: “I discovered the poem many years ago. It’s beautiful and I’ve wanted to celebrate it in a pub or bar since. This is the perfect opportunity because of the connection with William Roscoe. The renaissance of this part of the city is not before time, and it’s fantastic to be able to contribute to it.” Phil McWilliam, area manager for Star Pubs & Bars, said: “Mike is well-known in the city for his brilliant pubs and bars and we’re Read More

Deltic seeks sites in Cambridge, Plymouth and Southampton: Deltic Group, the UK’s largest operator of premium late-night bars and clubs, is looking to source venues in Cambridge, Plymouth and Southampton, Propel has learned. Deltic Group has appointed agent Fleurets to find sites in the three cities. Deltic Group is seeking sites within city centres, near a student population with a target demographic of 18 to 30 years old. The company will consider new leases, assignments or freehold purchases. Sites must be part of an existing food and beverage circuit and a minimum of 12,000 square feet with a 3am licence. They must have D2 planning status or the possibility of achieving that. A spokesman for The Deltic Group said: “We are always looking for great venues that allow us to bring our exciting offer to customers across the UK.” Tom Cormie, of Fleurets, who is seeking the sites on behalf of Deltic Group, said: “Deltic Group is a dynamic, innovative and highly competent nationwide operator. It provides excellent covenant strength for landlords and helps to drive footfall.” Deltic Group already operates Ballare and Vinyl in Cambridge, Pryzm and its Bar & Beyond and Steinbeck & Shaw concept in Plymouth, and Read More

Busaba Eathai restructures finances, tackles legacy issues: Busaba Eathai, which operates 13 sites, restructured its finances in May in the wake of its acquisition by Muzinich Private Debt, which resulted in a reduction in loan note debt and additional facilities of £1.4m to support the ongoing development of the business and restructuring costs. The company reported it had sub-let a closed site in Manchester and assigned the lease of a closed site in St Albans – a leasehold site in Liverpool was previously assigned. The company said the business has refocused on London operations. The company reported turnover decreased 3% to £28.4m in the year to 26 May 2018, but management action saw adjusted Ebitda increase 342% to £897,000. Losses increased by 12% to £11.2m after an impairment of £3.7m on the book value of assets, a £600,000 write-down in the value of stock and £3m of onerous lease provisions. Speaking exclusively to Propel, managing director Terry Harrison, said: “Our FY18 results, which we were late in publishing due to the change in ownership, refinancing and the restructuring of our balance sheet, are a clear indication our decision to focus on our core London business was the correct one. The Read More

200 Degrees doubles up in Birmingham to hit double-figure estate: Nottingham-based coffee roaster and retailer 200 Degrees has opened its second site in Birmingham and tenth in total. The 65-seater coffee shop has launched in Lower Temple Street, close to Birmingham New Street station, creating 20 jobs. Located in the former Midland Hotel, the 1,830 square foot shop retains many period features as well as a split bar for takeaway services. The move follows the brand’s coffee shop and barista school, which opened in Colmore Row in Birmingham’s business district in 2016. Tom Vincent, co-founder and director of 200 Degrees, said: “The decision to open a second coffee shop in Birmingham was an easy one. Its location near Birmingham New Street is ideal. Birmingham is only the second location in which we’ve opened a second coffee shop and we’ve installed a split service area to serve busy commuters and time-starved workers quickly.” Vincent and Rob Darby founded 200 Degrees in 2012. It also operates coffee shops in Nottingham, Leeds, Sheffield, Leicester, Cardiff, Lincoln and Liverpool, and a roast house in Nottingham. The company plans further openings this year. Tonkotsu to hit 11 sites with Peckham Market opening next month: Tonkotsu, Read More

Vanessa Hall appointed interim Vapiano chief executive, in running for role full time: Vanessa Hall is in the running to become chief executive of restaurant group Vapiano after Cornelius Everke announced he would resign for personal reasons on Saturday, 31 August. Everke’s employment has been terminated by mutual consent and the company’s supervisory board intends to appoint current chairman Hall in the interim to replace him. Hall’s new position relies on her being reappointed to the supervisory board in the company’s annual general meeting but she has declared she is prepared to run the company until at least the end of April 2020. The supervisory board said it would immediately initiate a structured process for the appointment of a new chief executive in which Hall would “also be considered as a candidate for long-term succession”. The board said it would also extend Lutz Scharpe’s term as chief financial offer to June 2023. Everke became chief operating officer in May 2018 to manage the rapid growth of the fast casual restaurant concept in international markets. Following the resignation of Jochen Halfmann, he assumed responsibility as chief executive in December 2018, where he contributed to the company’s completion of its refinancing and strategic Read More

Inception Group to launch Soho site: Inception Group, which operates an eclectic collection of London bars and restaurants including Mr Fogg’s, Bunga Bunga and Cahoots, will open its latest site in London, in Soho’s Kingly Street in October. The Ticket Hall & Control Room will be spread across two floors and open opposite the original Cahoots. The company has been operating a pop-up – Casa Bonita – on the former Cinnamon Soho site since the start of the year. The original Cahoots, designed to resemble a 1940s underground station, launched in Kingly Court in 2015. Earlier this year Propel revealed Inception Group had appointed advisers as it looks to assess its growth options. The 11-strong, London-based business, which was founded in 2009 by Charlie Gilkes and Duncan Stirling, appointed advisory firm Tamweel Capital to aid the process, although it is understood the company is in “no rush” to make a decision on its growth plans. Whittard of Chelsea promotes Smith to chief executive: Hot drinks retailer Whittard of Chelsea has promoted chief financial offer Nathan Smith to replace Mark Dunhill, who stepped down as chief executive last month following five years in the role. Smith has worked for the company Read More

Incipio Group to launch first in-house restaurant at The Prince: Incipio Group, which received £5m from entertainment and leisure investor Edition Capital earlier this year to open six sites in 18 months, is to launch its first in-house restaurant at The Prince in West Brompton. Wildcard Kitchen will open at the venue in Lillie Road, which Incipio launched in November 2017. Until now, The Prince’s four restaurants have been concessions. Incipio describes Wildcard Kitchen as sourcing the “best British produce to create the most flavour-packed dishes inspired from around the world”. An advert for chef positions states: “With an adaptable menu and one-off specials, Wildcard goes all-in for taste.” Earlier this month Incipio launched Lost In Brixton, a 440-capacity bar in a hidden corner of Brixton Village. Using technology from the Tablesnapper platform, guests can order food from restaurant traders in Brixton Village and Market Row. Customers scan a QR code on their table, order food from the restaurant listed, pay online and receive their food from a runner – making Lost the world’s first kitchen-less restaurant. Since 2015, Incipio Group has specialised in creating large social venues focusing on food and drink, transforming sites to provide “fashionable and out-of-the Read More

Monty’s Deli signs for Kerb’s Seven Dials Market: Jewish soul food trader Monty’s Deli has signed to open a site at Kerb’s Seven Dials Market, which will launch in London’s West End next month. Monty’s Deli started as a market stall at Kerb’s King’s Cross site in 2012 and the Seven Dials opening will be its third permanent venue following the recent closure of its much-loved Hoxton restaurant. Founded by Mark Ogus and Owen Barratt, Monty’s Deli is renowned for Jewish comfort food such as its reuben salt beef or pastrami sandwiches, with meat produced in-house alongside freshly baked bagels and homemade mustard. Ogus said: “After the heartbreak of closing our restaurant in Hoxton, it’s really great to announce we are reuniting with Kerb at Seven Dials Market. The area has an incredible heritage for some of London’s finest salt beef and we want to bring some of those wonderful flavours and Jewish deli traditions to a whole new generation.” Seven Dials Market is Kerb’s first bricks-and-mortar site and will “occupy the space between street food and the full-service restaurant experience”. The 22,000 square foot market is housed in a 19th century banana warehouse. Monty’s Deli, which has sites in Read More

TRG launches exam results offers for Chiquito and Frankie & Benny’s: The Restaurant Group (TRG) has launched offers for students celebrating their exam results for its Chiquito and Frankie & Benny’s brands. A-level students will receive their results on Thursday (15 August) and GCSE students a week later. On those days they can claim a free tortilla dish from Chiquito, regardless of their grades. Students can choose chimichanga, tacos, enchilada or a burrito by showing their results and student ID between 15 and 17 August and 22 and 24 August. Chiquito managing director Angelo Gabrilatsou said: “For 30 years we’ve supported students with our ‘always on’ 25% off for students. This year we wanted to give something back so all Higher, A-level and GCSE students will receive free food on results day.” Meanwhile, Frankie & Benny’s will give away free main courses to A-level students when they order a bottle of Coca-Cola or pint of Budweiser. TRG is also encouraging students to discuss job opportunities at its Frankie & Benny’s sites. Frankie & Benny’s senior brand and partnerships manager Gabriele Barysaite said: “Commiserate with friends, family and treat yourself to your Frankie’s favourites. While you sink your teeth into your Read More

Boxpark hires advisers to help with expansion: Boxpark has hired KPMG Corporate Finance to find an investment partner to support its expansion. The company has sites in Shoreditch, Croydon and Wembley. Boxpark has previously unveiled plans to expand nationwide with a further ten sites during the next five years. The expansion will also see the launch of two new concepts – BoxOffice and BoxHall. BoxOffice is a co-working space that will be incorporated into new Boxpark sites. The Boxpark and BoxOffice schemes will be between 50,000 and 150,000 square feet. The developments will feature the traditional Boxpark street food and bars on the ground floor with leisure operators such as virtual reality, cinemas, crazy golf and karaoke on the first floor and between two to four floors of co-working space above. Boxpark will work alongside existing co-working companies on the launch and operation of the new BoxOffice concept. In addition, Boxpark will roll out new food hall concept BoxHall. The smaller, 10,000 to 20,000 square foot food and beverage destinations will be based on existing sites within city centres across the UK, featuring between six and 12 street food vendors at each site. Laine makes two key hires for brewing Read More

Tossed promotes Neil Sebba to managing director: Tossed, the London-based healthy eating brand, has promoted Neil Sebba to managing director, Propel has learned. Sebba joined in 2010, when Tossed had just five sites, and worked for eight years as finance director. He became business development director of the now 35-strong Tossed at the start of this year. Vincent McKevitt, who remains in situ as founder, said: “The board and I are delighted to promote Neil to the role of managing director to lead the next stage of the business’ development. Our recent innovations in hot food, technology, vending and delivery have laid the foundations for the next few years of growth. I’m immensely proud of where Neil and the senior team are taking the business; on average they have been with Tossed for more than six years, and ultimately it’s their hard work that has got us to where we are.” Sebba added: “This wonderful business sits at the forefront of health and technology in food-to-go. Working with Vincent, Angelina Harrison (commercial director) and the senior leadership team to bring healthy, customisable, made-to-order food to more people is an honour, and I am excited about us delivering on its next Read More

Award-winning multiple operator eyes growth to five sites: Award-winning multiple operator Dianne Irving is eyeing growth to five sites after taking on her third venue – and second with Heineken-owned Star Pubs & Bars. Irving has co-invested £330,000 with the pub company in The Howard Arms in Carlisle. The pub now commemorates the period from 1916 to 1972 when the government took Carlisle’s pubs into state management in a bid to curb excessive drinking in the city. Everything in the pub from the menu to the furniture harks back to the early days of that time and has a 1920s feel. The idea was the brainchild of Irving, who has two other pubs in the area, including the White Mare at Beckermet, which is also with Star Pubs & Bars. She said: “It’s a fascinating and little known part of pub history that changed the face of Carlisle’s pubs. Civil servants ran all pubs following strict rules; beer’s alcoholic content was reduced, food and activities introduced, coffee and cakes stocked and women encouraged to visit. As one of the last remaining traditional pubs in the city centre I thought it would be fun to recreate those days and give The Read More

UK loyalty scheme ‘impossible’ for Domino's Pizza because customers don't order frequently enough, incremental opportunity around collection in London:Domino's Pizza Group chief executive David Wild has said having a loyalty scheme in the UK like the company does in the US is “impossible” because customers do not order frequently enough. In a presentation to analysts following the company's interim results, Wild said the frequency in the UK was about a third of that in the US. He added: “The average customer in the US orders 18 times a year. In the UK, it is five or six times. With the US scheme it effectively works as a free pizza after someone has ordered six times, so in the US that would take about three months. Over here, that would take about a year, which makes it impossible. That's why we have taken the approach of using single customer view marketing rather than a loyalty scheme. We have made further customer segmentation to allow us to deliver more appropriate marketing messages and hopefully drive sales that way.” Wild said there was an incremental opportunity in London around collection and the company was trialling various offers around the capital in a bid Read More

Nottingham-based McDonald’s franchisee reports profit boost as turnover passes £25m: Nottingham-based McDonald’s franchisee Blades Restaurants has reported turnover increased 24% to £26,556,162 for the year ending 31 December 2018, compared with £21,453,150 the previous year. Operating profit was up to £653,639, compared with £397,968 the year before while pre-tax profit rose to £564,424, compared with £340,163, the previous year, according to accounts filed at Companies House. Blades Restaurants, which is owned by Jerry Nicholls, operates nine McDonald’s sites across Nottingham having added two outlets to its portfolio during the period. In his report accompanying the accounts, Nicholls said: “We believe the trading environment in which we operate is challenging. However, the company remains optimistic and has continued its reinvestment with two additional store purchases during the year.” Bell to leave Red’s for The Apartment Group: Craig Bell is to step down as finance director at Red’s True Barbecue to join north east-based bar operator The Apartment Group in the same role, Propel has learned. Bell joined Red’s at the start of 2015, and played a key role in the group’s subsequent growth, including securing new equity and bank funding. His departure comes after the eight-strong group underwent a restructure and Read More

TGI Friday's reports like-for-like sales down 6.7% in 2018: TGI Friday's has reported like-for-like sales dropped 6.7% in the year to 30 December 2018. Total sales were down 3.3% to £208.8m after four sites opened in the year. Ebitda was £24.7m, compared with £33m the year before. Exceptional items, including one onerous lease unwind and a number of lease impairments, cost £8,927,000, compared with £1,172,000 the year before. Operating profit before exceptional items was £85,000, compared with £8,564,000 the year before. Spudulike shuts all 37 sites after buyer withdraws from pre-package administration deal at last minute: Baked potato specialist Spudulike has shut all 37 of its sites after a prospective buyer withdrew from a pre-packaged administration deal at the last minute. Joint administrators Neil Bennett and Alex Cadwallader, of Leonard Curtis, said they were “very disappointed” with the outcome after working for several weeks firstly preparing a company voluntary arrangement, which was rejected by Spudulike’s creditors, and subsequently pursuing the sale of all or part of the group’s business and assets with a number of prospective purchasers. The situation has resulted in all the group’s outlets, plus its head office, being closed and all 298 employees made redundant with immediate Read More

Mackay to step down as Benihana MD: Richard Mackay, formerly of Wagamama and Nozomi, is to step down as managing director of Benihana, the worldwide Japanese teppanyaki restaurant chain, Propel has learned. Mackay joined Benihana last year on the back of new investment from Minor International, which acquired a 75% stake in the company, to spearhead the business and oversee its expansion programme. He is leaving the company to head up Matal Eatery in Al Khobar, Saudi Arabia. Earlier this year, Benihana, which operates three sites in London, launched a 100-cover restaurant at the former Carluccio’s site in Glasgow’s West Nile Street. It was the first new Benihana restaurant in the UK for more than 20 years. In April, Benihana signed a host of international franchise deals, which will see it open five restaurants in Egypt, three in Pakistan, and one in in Mexico, creating a total of 29 across its global portfolio. Founder Hiroki Aoki opened the first Benihana in 1964. Benihana’s London restaurants are in Chelsea, Piccadilly and at The Grange hotel in St Paul’s. Upham Pub Company reduces debt levels after completing sale and leaseback deal on 14 pubs: Upham Pub Company has completed the sale and Read More

Comptoir Group chief financial officer resigns: Comptoir Group, the owner and/or operator of Lebanese and Eastern Mediterranean restaurants, has announced chief financial officer Mark Carrick has resigned. Carrick will remain with the company until the end of October “to ensure an orderly handover of his role and responsibilities”. Comptoir Group said the board has begun a process to identify a successor and a further announcement would be made in due course. Last week, the company announced trading for the 26-weeks to 30 June 2019 “was in line with management expectations and ahead of the same period in 2018”. It operates 25 managed restaurants and four franchise sites. Koh Thai appoints Sykes as group COO: Koh Thai, the tapas chain, has appointed Jeremy Sykes, formerly of Wagamama and Boston Tea Party, as its new group chief operating officer, Propel has learned. Sykes, who has been a business consultant for the past three years, spent almost 15 years at Wagamama as a regional director. He also spent just under 18 months as director of operations at Boston Tea Party. He joins up again with former Wagamama chief executive Steve Hill at Koh Thai. Established in 2009 in Bournemouth, Koh Thai currently operates Read More

Corbin & King to close Bellanger, secures Notting Hill Gate site: London-based restaurant group Corbin & King is to close its Bellanger site in Islington next month, after more than three years of trading. Co-founder Jeremy King said although the company had “loved being in Islington, we just couldn’t make it the success we aspired to”. He said: “Much as it had been a great critical success this wasn’t matched financially. And although we continued to trade for much longer than less patient operators might have persevered there came a point where we had to be pragmatic and move on to concentrate on new projects – the birth of Manzi’s in Soho, Notting Hill and indeed another rather interesting opportunity on the horizon.” King confirmed the company had acquired a new site in Notting Hill Gate but wouldn’t divulge any further information on where and what it would be. One possible location is the former RBS bank site at 78 Notting Hill Gate. Corbin & King’s new Soho seafood restaurant Manzi’s is set to open next year in the Bateman’s Buildings, just off Soho Square. The proposed Manzi’s takes its monikor from the previously popular, but long-time closed, Leicester Square Read More

Jamie Oliver – I spent £25m trying to save restaurant business: Jamie Oliver has revealed he ploughed £25m of his own money into his restaurant group in a failed attempt to save the business from collapse. Oliver admitted there had been no “plan B in case it goes down the toilet” as he described the devastating experience, which he said he took full responsibility for. He called rental costs, business rates and the cost of labour “our worst enemies”, adding the business had not responded quickly enough to changes in the industry. Speaking for the first time about the collapse in an interview with The Times magazine, Oliver said poor advice meant the “wool had been pulled over his eyes” over the extent of the crisis that began in 2017. The group, which included Jamie’s Italian, Barbecoa and Fifteen, collapsed into administration in May, making about 1,000 staff redundant. At the time it was believed Oliver spent £12.7m of his own money trying to save the business, but he revealed it was twice that amount. He said: “When it was all going wrong it felt like a colander – the business was full of holes and there was nothing we Read More

Open House and Brewhouse & Kitchen receive Puma VCT investment: Open House, the London-based restaurant and bar operator, has secured new growth funds from investment house Puma VCT, Propel has learned. Puma has invested £1.8m in the business, which operates The Lighterman and Percy & Founders in the capital, as part of a £5m transaction, investing alongside its Puma Alpha EIS fund. The business was launched by the team behind Cubitt House in 2015 and the new investment will support plans for growth though further flagship units across London. Earlier this year, Puma invested a further £847,000 in Knott End Pub Company, which last year entered into a franchise agreement with Brewhouse & Kitchen to roll out a portfolio of pubs offering “on-site craft micro-brewing activities and good-quality food”. Knott End opened its first two pubs, in Milton Keynes and Horsham, West Sussex, last year. Puma said both were trading well. Puma had previously invested £2.4m in Knott End Pub Company. Ole & Steen appoints Ward-Nicholson as managing director: Danish baker Ole & Steen has appointed SSP operations director Simon Ward-Nicholson as managing director, Propel has learned. Ward-Nicholson spent the past four years at the travel concessions company, with stints Read More

Red Oak takes lead on Wadworth pubs package: Red Oak Taverns is believed to be in advanced talks to acquire the majority of sites placed on the market earlier this year by Devizes-based brewer and retailer Wadworth, Propel has learned. In May, Propel revealed Wadworth had put 24 of its tenanted pubs on the market through agent Christie & Co – nine pubs on an individual basis and 15 as part of a package. It’s thought Red Oak, which operates circa 160 pubs, has agreed to acquire the majority of those pubs with a deal expected to complete during the next month. Wadworth said in May the sites no longer fitted its “long-term plans” following a review of its estate. The nine individual sites, which were being marketed under the name Project Swordfish, are located in the south and west of England. The package of 15 pubs consists of Beckets Inn in Glastonbury, Somerset; The Boot Inn in Berwick St James, Wiltshire; The Cricketers Inn in Longparish, Hampshire; The Crown Inn in Bishop Cannings, Wiltshire; England’s Glory in Gloucester; the New Inn in Bath; The Oak in Andover, Hampshire; The Plough in Shalbourne, Wiltshire; The Princes Motto in Barrow Gurney, Somerset; Read More

TRG launches south east Asian delivery concept: The Restaurant Group (TRG), the Wagamama and Frankie & Benny’s operator, has further ramped up its portfolio of delivery brands by launching south east Asian concept Jumping Pans, Propel has learned. The concept joins the group’s other delivery brand – Pyjama Hotel – in being made available through UberEats and Just Eat out of the Foodstars unit in Battersea, south London. A TRG spokesman said research for Jumping Pans had seen its team venture across south east Asia “cherry-picking the best, most flavourful recipes”. He added: “Inspired from real insights, local culture and pan-Asian energetic cooking methods, our dishes allow you to travel through taste within one order, enjoyed in the comfort of your own home.” Chinese mains include, beef and black bean, and kung pao beef (both £9.95); Thai and Malaysian mains include pad kra pao chicken (£9.95) and Massaman duck curry (£10.95); while vegetarian and vegan mains include chow mein (£7.50) and vegan coconut jungle curry (£7.95). Last week, Propel revealed TRG had added a further burger delivery concept through its Frankie & Benny’s brand. The group has started to roll out Stacks, which comes with the slogan: “Stack it up, Read More

Starbucks thought to have closed 35 sites in London: The Mail on Sunday has reported Starbucks has closed dozens of outlets in London, marking a retreat from a city where it once dominated the coffee shop scene – as many as 35 stores across the capital have closed in the past 18 months. The newspaper stated: "The closures appear to be continuing and a number have been directing customers to other stores in recent weeks. The emergence of the rout in London follows a recent financial statement that it had set aside £20m for 'lease provisions' in Britain. It complained of 'ongoing pressures' and 'the changing consumer landscape, high rents and political uncertainty'. London has also been hit hard by a rapid rise in business rates. Starbucks UK, which has repeatedly come under fire for its tax planning, plunged to a £17.2m loss for the year to September 2018 as a result of provisions for renegotiating leases and store closures. Despite the closures in London, Starbucks is understood to have increased overall coffee shop numbers in the UK by around 50 since 2017. It has opened smaller shops and drive-thru outlets outside central London to adapt to changing consumer habits. Read More

Tattu appoints advisors for growth plans: Contemporary Chinese restaurant group Tattu has started working with advisors to map plans for growth, Propel has learned. The company, which was founded in 2015 by brothers Adam and Drew Jones, is understood to be working with advisor Clearwater International on options that could include bringing in a strategic partner to help it with plans for expansion in the UK and overseas, with the US a possible destination. The group operates sites in Manchester, Leeds and Birmingham, with the latter 160-cover restaurant opening earlier this year. It is currently on-site on a fourth restaurant, in Edinburgh. After the success of its initial three openings, it is understood the business has received a number of enquiries from landlords to join and anchor schemes across the UK. Tattu launched in Manchester in 2015 with a second site opening in Leeds city centre in June 2017. The Birmingham restaurant opened in The Grand development in Barwick Street. The ground-floor space hosts a bar and private dining rooms while there is a main restaurant downstairs. Speaking to Propel last year, Jones said: “Every restaurant we open is unique and at this stage we are keeping growth in-house – Read More

San Carlo Group reports like-for-likes up 2% in current financial year as it aims for return to profit: San Carlo Group has reported like-for-likes are up 2% in its current financial year, with total sales increasing 12% as the group aims to return to profitability. The company, which operates the San Carlo and Fumo restaurants, said profit has climbed 87% so far in the current financial year. The announcement comes as the company saw full-year turnover pass the £50m mark, although “investment in new sites and difficult trading conditions” led to the business slipping to a loss. Revenue was up 8% to £53,943,097 for the year ending 30 September 2018, compared with £49,946,472 the year before. However, pre-tax profits slipped to £3,745 compared with £1,278,435 the previous year, while the company reported an overall loss for the year of £133,678 compared with a profit of £941,449 the year before. The company opened four sites during the year including its first San Carlo in London, in Regent Street. In their report accompanying the accounts, the directors stated: “The group has recorded a loss in the year, which can be attributed to investments in new sites as well as difficult trading conditions Read More

The Alchemist secures Cheltenham site, eyes Bristol opening: The Alchemist, the 16-strong Simon Potts-led bar and restaurant concept, is looking to open a cluster of sites in the south west after securing a site in Cheltenham, Propel has learned. The company, which recently secured the remaining Smollensky’s site in Reuters Plaza, Canary Wharf, has secured a 4,539 square foot site in the town’s Brewery Quarter for an opening next May. Potts told Propel: “I am really pleased to have acquired the Cheltenham site, it’s a lovely part of the world with plenty of key calendar events driving guests in. Following our success in Cardiff over our first trading year in the city and with a second Birmingham venue opening next month, it’s a strategic move to consolidate an important geographical region for us. Bristol has long been on our target location list and I hope to tie something up there in the next few months to tie the south west together.” The company had previously been linked to a site in Bristol’s Queens Road that formerly housed Rise Records. The business, which is backed by Palatine Private Equity, has further openings lined up in Gunwharf Quays in Portsmouth and Embassy Read More

TRG launches further burger delivery concept: The Restaurant Group (TRG) has added a further burger delivery concept thought its Frankie & Benny’s brand, Propel has learned. The group has begun to roll out Stacks, which comes with the slogan – “Stack it up, pack it in and we'll begin”, and offers eight types of burger, including chicken katsu, buffalo blue and smoky beet, priced between £5 and £8. Last year, TRG launched virtual brands Burger Burger and Kick Ass Burrito through its Frankie & Benny’s and Chiquito concepts respectively. Earlier this year, Propel revealed it had added a further two virtual brands to its portfolio. Through Chiquito it now offers the Cornstar Tacos virtual brand in circa 40 sites, while the new Birdbox brand, which focuses on chicken and burgers, is available through Frankie & Benny’s. In May, the company launched a new delivery brand called Pyjama Hotel out of the Foodstars unit in Battersea. Pyjama Hotel describes itself as offering “a festival of Indian flavours, bringing colourful, vibrant, Indian favourites and new dishes to your door”. Tokyo Industries relaunches online radio station Openlab: Tokyo Industries, the bar and nightclub operator led by Aaron Mellor, has joined a management buyout Read More

Wagamama applies to open dark kitchen in London Fields: Wagamama, owned by The Restaurant Group (TRG), has applied to open a dark kitchen in London Fields, Propel has learned. Propel understands the brand is looking to take space at the Railway Arches in Mentmore Terrace and has applied to open a dark kitchen to prepare takeaway food and alcoholic drinks for delivery only. However, it is believed the plans have received objections from local residents. On acquiring Wagamama last year, TRG pledged to invest in more delivery-only kitchens. It said it recognised delivery as a significant area of opportunity, particularly as Wagamama was already one of the top brands on Deliveroo. Wagamama launched in a Deliveroo Editions site in Battersea last year. At the same time, Wagamama is understood to be in talks on a site in the City for its new grab-and-go concept Mamago after passing up on a former Starbucks site in Coleman Street. The brand is also set to strengthen its London presence with an opening in Old Street. Propel understands the Emma Woods-led group will open a restaurant at The Bower mixed-use development later this year. TRG, which acquired Wagamama for £559m last year, said it Read More

Lluch steps down as Wasabi managing director: Frederic Lluch has stepped down as managing director of Wasabi, the sushi and bento chain, with a search for his successor in advanced stages, Propel has learned. Lluch joined the company, in which private equity firm Capdesia acquired a minority stake earlier this year, in March 2016 as operations director and was promoted to managing director in June 2017 where he led the business alongside the company’s founder Dong Hyung Kim. Names previously linked to the business include former Pizza Hut Restaurants deputy managing director Henry Birts and ex-Gourmet Burger Kitchen chief operating officer Keith Bird. The recent investment from Capdesia is being used to support the company’s next phase of growth, including expansion of the UK portfolio, extensive refurbishment programme of existing stores, further expansion of its US presence and development of other commercial opportunities for the brand. Capdesia told Propel in May it saw “amazing potential” for the sushi and bento brand. Capdesia invested in the 60-strong business, with co-investment coming from Sushiro Global Holdings, Japan’s largest publicly listed sushi chain operator, and Regis Group, a leading US and UK asset manager. Ashton Crosby, co-founder and managing director of Capdesia, told Read More

200 Degrees to double Birmingham presence with tenth site: Nottingham-based coffee roaster and retailer 200 Degrees will double its presence in Birmingham next month. The company, which is backed by Foresight Group, has confirmed it will open a site in the city’s Lower Temple Street, as revealed by Propel in May. 200 Degrees already operates a site in the city’s Colmore Row. The new 65-seater venue is located in the former Midland Hotel and the 1,830 square foot store retains many period features and will also offer a split bar for takeaway service. The new Birmingham venue is 200 Degrees’ tenth coffee shop to open since 2014. Co-founder Tom Vincent said: “Birmingham is the first location outside Nottingham in which we’ve opened two coffee shops. We’re excited to contribute further to the fantastic food and drink scene across the city and be part of this area’s rapid regeneration. Our Colmore Row coffee shop has been well received since we opened and the new Lower Temple Street store will give our customers somewhere closer to visit by New Street Station.” 200 Degrees, which was set up by Vincent and Rob Darby in 2012, has coffee shops in Nottingham, Birmingham, Leeds, Sheffield, Read More

Young’s secures Individual Restaurants site in Kent: London pub retailer Young’s is set to take its first foray into Kent for a while after securing a site in Tunbridge Wells, Propel has learned. The listed pub operator is understood to have completed the freehold investment purchase of Tunbridge Wells Bar & Grill and simultaneously bought out Individual Restaurants’ interest in in the site. The Patrick Dardis-led group will now undertake a comprehensive capital expenditure scheme on the site before reopening it as The White Bear, its name when it was a Whitbread-owned pub. Young’s stated: “Young’s is incredibly excited to be in Tunbridge Wells. After a stunning refurbishment, we hope to open by the end of August.” Earlier this year, Dardis told Propel the company had at least £70m available for acquisitions and could raise “more if required”. He said the company, which bought 15-strong Redcomb Pubs at the start of the year for £34m, was eyeing “various opportunities” ranging from companies with a “couple of sites” to “slightly larger” businesses. UberEats halfway to UK virtual restaurants target: UberEats has said it is halfway to its target of launching 400 virtual restaurants in the UK. Speaking to Bloomberg TV, Rodrigo Read More

  Caring acquires former Barbecoa site in St Paul’s: Sector investor Richard Caring, who backs Caprice Holdings, The Ivy Collection and Bill’s, has acquired Jamie Oliver’s former Barbecoa site in London’s St Paul’s, Propel has learned. Caring has secured the site in the One New Change scheme out of administration and is believed to be in talks to acquire up to a further three sites formerly operated by the high-profile chef. One New Change Limited, a wholly owned subsidiary of Jamie Oliver Restaurant Group, purchased the assets and lease of Barbecoa St Paul’s out of administration last year. That company was subsequently placed into administration earlier this year as part of the collapse of Oliver’s UK restaurant business, including 18 Jamie’s Italians, which are being marketed by Christie & Co. It is unclear what Caring intends to do with the One New Change site, although there has been speculation a second The Ivy Asia might be part of his plans. He has also been looking for sites for his fledgling Harry’s Bar concept and for a mooted Sexy Elephant restaurant. Last month, Giggling Squid acquired the former Jamie’s Italian site in Cambridge, while chef Simon Shaw acquired the Jamie’s in Read More

Marmalade Pubs reports £1.7m sales in first full trading year, Ei Group made £796,000 profit from Hunky Dory stake sale: Marmalade Pubs, the joint venture between Marylebone Leisure Group and Ei Group’s Managed Investments segment, has reported sales of £1,717,000 for the year ending 30 September 2018 – its first full year of trading. Although the company was incorporated in June 2016, the company had no pubs in its portfolio during the prior period. Marmalade Pubs made an operating loss of £132,000 and a loss before tax of £164,000, according to accounts filed at Companies House. During the period Marmalade Pubs operated three sites but now trades from two having sold The Compton Cross in Soho to Shepherd Neame in April. Marmalade Pubs now operates the Portobello Star in Notting Hill and the Crown & Treaty in Uxbridge. In their report accompanying the accounts, the directors stated: “The loss before tax for the year amounted to £164,000 (2017: zero) primarily due to administrative costs incurred establishing the business operations. The directors don’t recommend the payment of a dividend.” Meanwhile, new accounts have revealed Ei Group made a profit of £796,000 on the sale of its 51% stake in Hunky Dory Read More

Pizza Pilgrims plans training academy: Pizza Pilgrims, founded by brothers Thom and James Elliot, is planning to launch a training academy in London next year, Propel understands. Speaking at the Global Restaurant Investment Forum in London, Thom Elliot said the company hoped to open the academy next year and was in talks regarding a possible site. He said: “Everyone is looking for fantastic staff and launching an academy would be part of our attempt to find a solution to that problem and add another layer of attraction for future team members. It would allow us to train our staff in a kitchen and front-of-house environment and allow them to test what they have learned on the public – a kind of throwback to the old catering schools.” The company currently operates 11 sites – ten in London and one in Oxford. It opened its latest site earlier this year at Westfield London’s new food court. Elliot said the company had raised further funds from existing investors earlier this year but it would “continue to take a steady approach to expansion”. Wagamama to close New Zealand restaurants: Wagamama, The Restaurant Group-owned chain, is closing its New Zealand sites. The company posted Read More

Cabana seeks new investment: Cabana, the Brazilian barbecue group founded by Jamie Barber and David Ponte, has appointed advisers as it reviews options to secure new investment. As reported at the weekend the seven-strong group is working with KPMG to assess funding options, which could include a further internal fund-raise or, more likely, securing a new investment partner. Propel understands the company spent last year doing a lot of “heavy lifting”, including speaking to landlords and rebalancing its offer to ensure the business was more robust. It is thought that although trading remains challenging and it may explore exiting one or two sites, like-for-like sales have been good. The business closed three sites last year – in Islington, Brixton and Newcastle. Speaking to Propel earlier this year about changes to the concept’s offer, Barber said: “There was obviously a significant bias towards meat but we have rebalanced that to incorporate more vegan and vegetarian dishes and taken a more flexitarian approach. It has paid off and we have seen an uplift in performance.” Boost Juice Bars reports Ebitda boost and substantial narrowing of losses in ‘transitional’ year: Boost Juice Bars, which operates circa 30 sites and is backed by the Read More

Shamel to step down as Las Iguanas managing director: Mos Shamel is to step down as managing director of Las Iguanas after 16 years of leading the Casual Dining Group (CDG)-owned restaurant bar brand, Propel has learned. Shamel is understood to be stepping down from the 55-strong brand to pursue a fresh challenge outside the group. CDG acquired the then 41-strong South American-themed restaurant group in July 2015 in a deal valued at circa £85m. Shamel oversaw the brand’s smooth transition to its new owner and its continued growth, which has played a key part in the sales performance of CDG during the past four years. CDG, which also operates Cafe Rouge and Bella Italia, plans to announce a successor to Shamel in the “coming months”. James Spragg, who was promoted to chief executive of CDG earlier this year, said: “We would like to place on record our sincere thanks to Mos for his immense contribution to Las Iguanas, which has grown into one of the UK’s leading restaurant bar businesses and one that’s consistently placed in the Sunday Times Top 100 Companies To Work For list. He leaves Las Iguanas in great shape, with a really strong and motivated Read More

Caring closes in on £200m deal to sell 25% stake of empire: Richard Caring is closing in on a deal to sell 25% of his entire empire to the former prime minister of Qatar. Caring, whose interests include Annabel’s, the private club in London’s Mayfair, and the Ivy restaurant chain, is understood to have agreed the outlines of a £200m deal with Hamad bin Jassim bin Jaber Al Thani. It would put a valuation of £800m on Caring’s empire, reports The Sunday Times. Thani would have an option to buy a further 25% of the group, depending on its performance. The prospect of a stake sale, first reported by The Sunday Times last month, comes after the renovation of Annabel’s. Caring spent about £65m moving the club – opened in 1963 by Mark Birley and named after his wife – to a refitted grade I-listed townhouse two doors down in Berkeley Square. Caring owns Annabel’s via Mark Birley Holdings, which also owns George, Harry’s Bar and Mark’s Club in London. It posted pre-tax losses of £6.6m on sales of £23.4m in 2017. He owns the original Ivy restaurant and J Sheekey, in Covent Garden, through Caprice Holdings, which made pre-tax Read More

Rosa’s founders launch Chinese noodles concept at St Katherine Docks: Rosa’s Thai Cafe founders Alex and Saiphin Moore have launched Chinese noodles concept Hoh Sek Noodles in London’s St Katharine Docks. Hoh Sek, which is Cantonese for “delicious”, is housed in a waterside pavilion in the heart of the marina. It offers a grab-and-go concept during the day with a core menu – Saiphin’s Six – consisting of six noodle dishes primarily Chinese but with Asia-wide influences. In the evening, Hoh Sek transforms into a 40-cover sit-down restaurant, including eight seats at the kitchen bar counter and a further 44 on a terrace outside. Saiphin Moore also plans to offer a weekly specials board with some of her own home recipes, and will host supper clubs and menu tastings. She said: “My first noodle shop, which I set up when I was 14 in Thailand, started me on my career as a chef. Years later, Alex and I met in Hong Kong and we fell in love with the street food noodles there. They’re a symbol of the city’s thriving food scene and what we want to bring to London and share with everybody.” Danny Egan, senior portfolio manager at Read More

Brewhouse & Kitchen reports 21% sales growth to £14m as it appears on inspirational list: Brewhouse & Kitchen, the UK’s largest brewpub group, has reported sales up 21% to £14,142,802 for the year ended September 2018, as it appeared on Stock Exchange Annual’s 1,000 Companies That Inspire Britain list for the first time. Gross margin hit a new high of 73%, although the company made an operating loss of £532,219. The company said it had expanded its headquarters team to ensure it was ready for opportunities that would “arise from a more competitive and challenging food market and a dynamic acquisition market”. It also said it would ensure it could “recruit and develop the best people available in a tough recruitment market”. In 2017, Brewhouse & Kitchen brought its finance system in-house by recruiting financial controller and management accountant roles. Other roles created during the year included an operations director, a food operational support team, brand trainer and head of recruitment. There were a number of other “large exceptional costs due to the implementation of new systems”. Later this year, the company will open its first hotel within a brewpub, with plans to open three more in the next 18 Read More

Giggling Squid secures Jamie’s Italian in Cambridge: Giggling Squid, the 32-strong Thai restaurant brand founded by Andy and Pranee Laurillard that was placed on the market earlier this year, has further strengthened its pipeline by securing a site in Cambridge. The business has exchanged on the Jamie’s Italian site in Wheeler Street, Propel has learned. In the 12 months to April 2019, the group opened eight restaurants, including in Bishop’s Stortford, Cheltenham, Chichester, Harpenden, Kingston-upon-Thames and Windsor. In April, the company opened restaurants in Oxford and Chislehurst, with both sites trading well and to expectations. The pipeline for sites into 2019/20 is strong as Giggling Squid looks to open six to ten restaurants a year as well as embarking on a refurbishment programme of its more mature restaurants. Giggling Squid has signed for the former CAU site in Leamington Spa, which is due to open in the autumn subject to planning permission. Propel also understands Giggling Squid is close to securing a site in Weybridge. First-round bids for the BGF-backed Thai chain are due at the start of July, with CBPE, which acquired Cote for circa £100m in September 2013 before selling it in July 2015 to BC Partners for Read More

New look drives sales at PizzaExpress as company shuffles management team:PizzaExpress, the Hony Capital-backed chain, has seen an impressive sales uptick at the first batch of sites updated to its new format, managing director Zoe Bowley has told Propel. The company launched future-proofing strategy “Future Express” at the start of this year. The move includes refurbishments, updates and innovation across its portfolio, with its Langham Place and Leeds Arena sites the first to be updated. A further handful of sites have now been upgraded, including Putney, Loughton and Blackheath, with sales significantly up on pre-refurbishment performance and running ahead of expectations. The new look and feel is themed around the “sociable pizzeria”. The company runs circa 490 restaurants in the UK and about 60 overseas. At the same time, the company has widened the remits of Lee Homer and Matt Ward as it looks to streamline its management team. Homer, who has been with the business for five years, the past two as brand director, becomes brand and operations director. At the same time Ward, who has been with the company for more than four years, the past two and a half as commercial director also takes over responsibility for Read More

Azzurri Group appoints new managing directors for ASK and Zizzi: Azzurri Group, the Bridgepoint-backed restaurant company, has reshuffled its management team, with Harry Heeley moving across from ASK Italian to become managing director of Zizzi and Chris Holmes, formerly of KFC, set to replace him, Propel has learned. Heeley joined Steve Holmes-led Azzurri as managing director of ASK at the start of 2016 after spending more than seven years at the National Trust, including four and a half years as hospitality director. Holmes will join the company as managing director of ASK later this summer after five-and-a-half years at KFC, latterly as chief development officer. Before that he had stints at Boots, EMI and PwC. Azzurri currently operates 112 ASK restaurants; 158 Zizzi sites in the UK plus three in Ireland and one in China; 22 Coco di Mamas and will open its third Radio Alice on Monday (24 June). At the same time Phil Boyd, who has been operations director at Zizzi for the past three years, has seen his role expanded to include overseeing the brand’s fledgling overseas operation. He will report into Heeley. Azzurri is also set to start a search for a marketing director, with Jo Read More

Morty & Bob’s set for further growth after securing investment: Cafe and bar concept Morty & Bob’s is set for further growth after securing new investment from Edition Capital, the backer of Incipio Group, Propel has learned. The concept, which is the brainchild of Charlie Phillips and Jesse Bliss, has secured a £650,000 investment from Edition. Morty & Bob’s opened a site at Coal Drops Yard in King’s Cross last year having closed its original site in Hackney. The new funding will help it open a site in October inside the newly refurbished food court opposite the Apple store in Westfield White City. It is also thought additional sites have been identified for this year and beyond. Formed in 2013 as a street food stall appearing at festivals and food markets across the UK, the business matured to pop-up sites in Soho and west London before settling on permanent sites in Hackney and Coal Drops Yard. The latter site offers the brand’s grilled cheese toasties, salads and weekend brunches alongside hot sandwiches. The Coal Drops Yard site heralded a new era for Morty & Bob’s, with an upgraded evening offer of small plates, bar snacks, cocktails, wine and beer. The Read More

CDG rebrands Café Rouge delivery concept: Casual Dining Group (CDG), the James Spragg-led company, has rebranded one of two delivery concepts attached to its Café Rouge brand, Propel has learned. The company has rebranded its Chef & Rooster concept as Wonder Chicken after a revamp of the chicken-focused virtual brand’s menu. A CDG spokesman told Propel: “We are committed to innovating, trialling and evolving all our offers to meet the changing wants and needs of consumers. As such, when we revamped the menu for our chicken-focused delivery concept Chef & Rooster, the second delivery brand operating from Café Rouge sites, we also took the decision to rebrand the concept as Wonder Chicken.” CDG also operates virtual brand Stack & Grill out of its Café Rouge estate. CDG has also rolled out virtual brand Blazing Bird across about 40 of its Las Iguanas sites and launched a further brand – Bang Bang Burritos – out of a similar number of restaurants. It also operates virtual delivery brand Mac N Shack out of some of its Bella Italia restaurants. Knight steps down from Jamie’s: Jon Knight has stepped down from Jamie Oliver Restaurant Group after being chief executive of Jamie’s Italian for Read More

Wade to swap Prezzo for Roadchef: Darrell Wade has stepped down as chief commercial officer at Prezzo to join motorway services operator Roadchef, Propel has learned. Wade joined Karen Jones-led Prezzo at the start of last year. Before that he spent almost ten years at TGI Friday’s UK working across a number of executive functions including marketing director, commercial director and most recently chief operating officer. Prior to joining TGI Friday’s Wade spent seven years at Yum! Brands in marketing roles for KFC and Pizza Hut UK spanning brand, retail, new product development, advertising, media and channel management. He will join Mark Fox-led Roadchef at the beginning of July in the newly created board-level position of chief commercial officer. Last month, Prezzo appointed Dean Challenger, formerly of David Lloyd Leisure and Premier Inn, as finance director. Earlier this year Propel revealed Paul Barton had stepped down as operations director of Prezzo after more than two-and-a-half years with the business. Propel understands the company won’t replace Barton but its regional operations directors will report straight into executive chairman Jones. Earlier this month, natural fast food brand Leon signed a five-year exclusivity agreement with Roadchef as it prepares to open two more Read More

  Taylor St Baristas launches £750,000 crowdfunding campaign to expand wholesale arm and cafe partnerships: Taylor St Baristas has returned to crowdfunding platform Crowdcube in a bid to raise £750,000 as it expands its wholesale arm and cafe partnerships, Propel has learned. Founded in 2006 by siblings Nick, Andrew and Laura Tolley, Taylor St Baristas has opened more than 60 cafes through partnerships. Now having raised more than £1.8m in its previous Crowdcube campaign, the company has returned to the platform to support its strategy. It is offering 6.38% equity in return for the investment, giving the company a pre-money valuation of £11m. The campaign is currently in “stealth mode”, meaning it’s only open to select investors rather than the public. The Tolley siblings also founded the Harris + Hoole coffee chain with Tesco, selling their share to the supermarket company in 2016. Harris + Hoole has subsequently been bought by Caffe Nero. The pitch states: “As the market shifts, Taylor St aims to lead the charge by partnering with global companies. The first is a global partnership with Sodexo, which by cups sold is one of the world’s largest coffee retailers, selling circa one billion hot beverages annually. Over Read More

Patisserie Valerie’s new owner says business back on track as it laid bare state of company at takeover: Patisserie Valerie’s new owner has said the business is back on track as it laid bare the state of the company it bought in January. Matt Scaife, a partner at Dublin-based private equity firm Causeway Capital Partners, which bought Patisserie Valerie out of administration for £5m, described the shock at finding broken ovens, unpaid suppliers, and a leak in the roof at a key bakery site. Patisserie Valerie shocked investors last year when it revealed a multimillion-pound black hole in its accounts that soon sank the business. Scaife told The Guardian: “As soon as we arrived the extent of the under-investment became increasingly apparent. There were ovens that had been broken for several months, and there was a leak in the bakery roof. Suppliers were often left unpaid, while new ones were sought. When someone decides to stop using butter in the puff pastry – in a patisserie - you know that something serious has happened." Six months on from the buyout the “new” Patisserie Valerie is looking much brighter, Scaife said, with plans to replace the outlets’ salmon and brown colour Read More

  Burger King UK looks to ramp up expansion: Burger King UK, the Bridgepoint-backed chain, is looking to open at least 90 sites during the next three years. The Alasdair Murdoch-led group, which currently operates more than 500 sites, has appointed agent Lunson Mitchenall to aid its expansion plans. Lunson Mitchenall ’s occupier representation team will work with a group of joint agents to expand the UK business and its franchise partnerships. The fast food chain aims to open at least 30 outlets per year for the next three years. Sites are being sought ranging from 1,600 to 3,000 square feet in high footfall areas that don’t currently have a Burger King presence. Locations on the target list include transport interchanges, drive-thrus, retail parks, high-street locations and shopping centre food courts. Lunson Mitchenall will be responsible for sourcing outlets in East Anglia, the south east, south west and South Wales. Burger King UK property director Marc Balding said: “These are exciting times for the Burger King brand in the UK at present and I look forward to Lunson Mitchenall continuing to advise Burger King UK on our expansion.” Lunson Mitchenall director Matt Maynard added: “It is a really interesting time Read More

Tokyo Industries looks to exit four sites in ‘smaller UK towns’ as it focuses on international projects: Tokyo Industries, the bar and nightclub operator led by Aaron Mellor, is looking to exit four sites in “smaller UK towns” as the company focuses on international projects, Propel has learned. The company is seeking operators for its Tokyo venues in Bradford, Huddersfield, Lincoln and Oldham. Mellor told Propel: “Tokyo Huddersfield was one our first venues, in 2005. It is set in an incredible 1820s courthouse and has done amazing business for us but it’s time to change the offer. DJ-led talent alone in a town like Huddersfield can’t really work in terms of fees versus market capacity. We had also become heavily student dependant so a summer closure felt right. It’s a massive venue, built over a number of rooms and floors, and that needs volume to drive it – the local market is looking for something more commercial. As we become more excited on international projects, it seems the right time to move away from the smaller towns we operate in and look to lease on these original sites in Huddersfield, Lincoln, Bradford and Oldham. While the sites aren’t being formally Read More

Foxlow to close remaining sites: Foxlow, the neighbourhood restaurant from the founders of high-end steak brand Hawksmoor, is to shut its two remaining sites. Co-owner Will Beckett said the venues in Balham and Clerkenwell would close on Friday, 28 June as the company focuses on Hawksmoor. The group closed Soho Foxlow in April and sold the lease following the closure of Foxlows in Chiswick and Stoke Newington last year. Beckett, who owns both businesses with Hugh Gott, said: “After a fantastic six years we have made the decision to close the two remaining Foxlow restaurants. Once Soho closed, we started to receive further offers. We decided to sell Foxlow Clerkenwell and simultaneously close the Balham restaurant, which seems better to us than continuing to trade and leaving staff, suppliers and customers in a period of uncertainty. We’ll now focus on making sure those people are looked after in the right way. In the end we couldn’t see a future where Foxlow grew as a business. With Foxlow closed we will be able to focus exclusively on Hawksmoor, which continues to be extremely successful, and we are very proud it continues to thrive and grow. Many of the people who worked Read More

  Tonkotsu secures new investment as it eyes next phase of growth: Tonkotsu, the Emma Reynolds and Ken Yamada-founded ramen restaurant group, is planning further expansion after securing new investment from YFM Equity Partners, Propel has learned. YFM, which also backs healthy eating brand Friska, is investing £5m in the ten-strong Tonkotsu for a minority stake in the business. Reynolds and Yamada, who founded Tonkotsu in Soho in 2012, will continue to be involved in the business. At the same time, Propel understands entrepreneur and Dragons’ Den star Sarah Willingham, formerly of PizzaExpress and Bombay Bicycle Club, will become chairman of the business, which is led by managing director Stephen Evans and operates nine restaurants in London and one in Selfridges Birmingham, with two more due to open later this year in Peckham and Shoreditch. The company, which hopes to add a further three sites next year, is believed to have generated full-year turnover close to £7m. The company appointed advisers in October as it looked to secure new investment to fund its next stage of growth. The group appointed Grant Thornton and Will Baxter, of Dow Schofield Watts’ London office, to oversee the funding process. Propel revealed earlier this year Read More

Collins watching Arcadia situation closely as Loungers continues to build pipeline: Nick Collins, chief executive of cafe bar brand Loungers, has told Propel he’s keeping a close eye on the situation at Arcadia as his company continues to build its pipeline. Speaking on the back of Loungers’ full-year trading update, Collins said the pipeline for 2020 was “looking good”, while he was eyeing opportunities on an almost daily basis for the Lounges and Cosy Club brands, which now total 148 sites. Arcadia, owned by Sir Philip Green, is looking to shut 48 stores across brands such as Topshop and Miss Selfridge under seven different company voluntary arrangements (CVAs) as it bids to avoid administration. A proposed vote on the CVAs has been adjourned for a week while discussions continue with a “few landlords” and Collins said he was watching developments “with interest”. He added: “We are where we would expect to be in terms of the pipeline. We’re watching the Arcadia process closely. Given we mostly convert A1 sites to A3, there are certainly properties that might provide more opportunity for us, as may other CVAs that arise. We’re going through those opportunities and we’re in a good position to Read More

Flat Iron seeks further restaurant opening before August as it reports turnover boost: Flat Iron, the “single steak” dining concept backed by private equity firm Piper, is seeking a further opening before August while its mature sites are delivering “very strong” sales. Flat Iron said its two most recent restaurant openings – in London’s Caledonian Road and Tooley Street – were both trading ahead of expectations. The company, which has seven sites in the capital, has also made significant investment in its operations team to support growth. The announcement comes as Flat Iron reported turnover increased 23.6% to £14,476,916 for the year ending 26 August 2018, compared with £11,715,100 the year before despite not opening any sites. Adjusted Ebitda was down slightly to £1,303,054 compared with £1,352,083 the year before, according to accounts filed at Companies House. Gross profit margin fell to 31.4%, compared with 33.5% the previous year. In their report accompanying the accounts, the directors stated: “As noted in last year’s report, having witnessed other restaurant operators struggling in the sector the directors decided to slow the opening of sites to monitor the increased availability of prime locations being offered to the company. This, together with construction delays Read More

O’Riordan becomes Caravan chairman: Jane O’Riordan, former group strategy director at Nando’s, has joined London-based restaurant, bar and coffee-roasting concept Caravan as chairman, Propel has learned. Earlier this year, O’Riordan became chairman of Caribbean restaurant chain Turtle Bay and also of Flight Club. O’Riordan has extensive knowledge of the leisure and hospitality space. She was managing director of Yellowwoods Associates (formerly Capricorn Associates) – a private equity and venture capital advisory firm involved in the strategic development of companies such as Nando’s and PizzaExpress. She was also director of strategy on the main board of Nando’s and is currently a member of the advisory board of Piper, the private equity company that backed Turtle Bay in 2013. O’Riordan also founded Antipodean-style cycling cafe and restaurant concept The Dynamo in Putney, south west London. Active Partners-backed Caravan operates five London sites – in King’s Cross, the City, Exmouth Market, Bankside and Fitzrovia. In February, co-founder Laura Harper-Hinton labelled trading at those sites as “fantastic”, with like-for-like sales up about 10%. Caravan founders Harper-Hinton, Miles Kirby and Chris Ammermann will launch a venture at The Pavilion in Chelsea this autumn featuring a new name, menu and design. Provenance Inns returns to pre-tax Read More

Coco di Mama experiencing ‘strong’ like-for-like growth, plans at least six sites in next 12 months: Azzurri Group-owned quick service Italian concept Coco di Mama is currently seeing "strong" like-for-like growth and aims to open another six sites in the next 12 months, Propel has learned. The announcement comes as Coco di Mama prepares to open its 22nd site, in Bishopsgate in the City of London, on Wednesday (5 June), with another outlet opening in Southbank next month. Head of brand Sara McCraight said the company had strong expansion plans, with growth remaining focused on London for the moment. She added: “We are currently seeing strong like-for-like sales growth and looking at various options in terms of our expansion as we continue to grow our brand awareness. We’re aiming for at least another six new sites over the next year.” Coco di Mama is best known for its made-to-order pasta that is customisable. The brand also serves Italian-inspired breakfast, salads, sandwiches and Allpress speciality coffee. The design of the Bishopsgate store features Milan-inspired modern interiors and features a hand-painted art wall by a local artist. Coco di Mama has chosen Bishopsgate for its latest site because it is a “high-energy Read More

Coppa Club reports 8.9% growth in like-for-likes for second quarter as it ramps up expansion: Coppa Club, the Hugh Osmond-backed concept, has reported an 8.9% growth in like-for-like sales in its second quarter as it ramps up expansion. The period covering January to March was boosted by the launch of summer igloos at Coppa Club Tower Bridge, which led to a 75% increase in pre-booking sales during the opening weekend compared with the same period last year. The brand, which operates five sites in London and the south east, is set to open its next venue in Berkshire in July as part of the £12m refurbishment of Osmond’s Thames-side venue The Swan at Streatley. The venue will be the biggest club to date, with a riverside terrace, library, lounges, gym and 47 bedrooms. As reported by Propel last week, another Coppa Club will launch in Brighton in August. Various Eateries group chief executive Sue Walter said: “Despite the challenges and uncertainty in our sector there remains one constant – people want to feel a sense of belonging and connection. We work hard to understand and integrate into our communities. This, along with our focus on delivering the best possible guest Read More