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Friday 31st May 2019
Friday Opinion
Subjects: Historic year of progress, coughing up at coffee shops, delivering more than just happy customers, and when two tribes go to war
Authors: Kate Nicholls, Glynn Davis, Sally Whelan and Paul Chase

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Friday 31st May 2019
Update: Market Halls set for £20m cash injection, Time Out Market opens in New York
Market Halls set for £20m cash injection: Food hall operator Market Halls is close to agreeing a £20m funding deal with private equity firm Bridgepoint to accelerate its growth plans. The company, which currently operates from two centr … view
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Friday 31st May 2019
Propel Friday News Briefing
Heartstone Inns has ‘number of acquisition and development opportunities in pipeline’, like-for-likes up 3% in first quarter of 2019: Heartstone Inns has a “number of acquisition and development opportunities in the pipeline”, whi … view
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Thursday 30th May 2019
Update: TRG announces new CEO start date, polystyrene food box ban, BigDish, Chapel Down
TRG announces start date for new CEO: The Restaurant Group (TRG) has announced the start date for new chief executive Andy Hornby will be Thursday, 1 August. The company also revealed current boss Andy McCue will step down with effect fro … view
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Thursday 30th May 2019
Propel Thursday News Briefing
Famous Brands – focus is on ‘making GBK best burger business in UK and not a sale’: Famous Brands chief executive Darren Hele has said the company has no plans to sell Gourmet Burger Kitchen (GBK) but is focused on making the brand … view
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Wednesday 29th May 2019
Update: GBK like-for-likes up 8.1%, Crussh to open debut healthcare site
GBK like-for-likes up 8.1% since year-end, Wimpy sees sales growth: Gourmet Burger Kitchen’s (GBK) like-for-like sales are up 8.1% in the 12 weeks since 28 February 2019, its parent company Famous Brands has stated. Famous Brands said s … view
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Wednesday 29th May 2019
Propel Wednesday News Briefing
Independent cafes, restaurants and bars see growth as shopping centres replace struggling chains: The number of independent stores in shopping centres has grown as landlords become “increasingly creative” with space to replace chains … view
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Tuesday 28th May 2019
Update: Comptoir Group, Goals Soccer Centres, Vue
Comptoir Group – like-for-like sales ahead of last year, exploring ‘multiple opportunities’ for organic and franchise growth: Comptoir Group, the operator of Lebanese and eastern Mediterranean restaurants, has said like-for-like sal … view
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Tuesday 28th May 2019
Propel Tuesday News Briefing
Wadworth puts 24 tenanted sites on the market: Devizes-based brewer and retailer Wadworth has put 24 of its tenanted pubs on the market, Propel has learned. Wadworth is selling nine pubs on an individual basis and 15 as part of a package. … view
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Monday 27th May 2019
Coffeesmiths Collective buys ten Filmore & Union sites in pre-pack administration
Coffeesmiths Collective buys ten Filmore & Union sites in pre-pack administration: Coffeesmiths Collective, led by Toby Smith, has bought ten Filmore & Union coffee shop sites in a pre-pack administration. Eight sites, including cafes in York … view
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Friday 24th May 2019
Friday Opinion
Subjects: Shattered dreams, keeping fans onside, advantage independents, and Plan B
Authors: Glynn Davis, Richard Samarasinghe, Neil Walker and Ann Elliott

Shattered dreams by Glynn Davis

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Friday 24th May 2019
Propel Friday News Briefing
M&B explores converting Chicken Society to delivery-only model, launching new concept: Mitchells & Butlers (M&B) is exploring a move to convert Chicken Society into a delivery-only brand, Propel has learned. M&B chief executive Phil Urban … view
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Thursday 23rd May 2019
Update: M&B and Young’s results, Merlin
M&B reports like-for-like sales up 4.1% in First Half: Mitchells & Butlers has reported like-for-like sales growth of 4.1% for the 28 weeks to 13 April. Adjusted operating profit was up £10m to £151m. Total revenue was £1,186m, up by … view
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Thursday 23rd May 2019
Propel Thursday News Briefing
Millennials drive boom as staycations set to rise by a third: Millennials are driving a boom in staycations as they look to escape their smartphones and social media, according to a new report by Barclays Corporate Banking. The study fore … view
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Wednesday 22nd May 2019
Pret A Manger agrees to acquire EAT, as many sites as possible will convert to Veggie Pret
Pret A Manger agrees to acquire EAT, as many sites as possible will convert to Veggie Pret: Pret A Manger, the JAB Holdings-owned chain, has reached an agreement to buy circa 90-strong rival EAT, which was placed on the market earlier this yea … view
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Wednesday 22nd May 2019
Update: Jamie Oliver, C&C Group and Britvic results
Bank to go after Jamie Oliver after UK restaurant business collapses: Bank HSBC and one of Britain’s biggest food suppliers are poised to pursue Jamie Oliver over debts after the chef’s UK restaurant business collapsed into administr … view
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Wednesday 22nd May 2019
Propel Wednesday News Briefing
MOD Pizza secures new funding, targets 1,000 locations: MOD Pizza has secured a $160m equity financing led by private investment firm Clayton, Dubilier & Rice (CD&R), which will aid its growth ambitions to reach 1,000 locations within the … view
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Tuesday 21st May 2019
All Jamie Oliver restaurants except Gatwick sites shut following administration, Oliver unable to secure investment despite putting in £4m
All Jamie Oliver restaurants except Gatwick sites shut following administration, Oliver unable to secure investment despite putting in £4m: All of Jamie Oliver’s 25 UK restaurants have closed except for three sites at Gatwick airport follow … view
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Tuesday 21st May 2019
Jamie Oliver’s UK restaurants crash into administration
Jamie Oliver’s UK restaurants crash into administration: Jamie Oliver Restaurant Group has called in administrators only two years after narrowly averting a collapse, putting more than 1,000 jobs at risk. Oliver’s 23-strong Jamie’s … view
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Tuesday 21st May 2019
Propel Tuesday News Briefing
Restaurant closures accelerate but wet-led pubs and bars bounce back: The number of restaurants in Britain fell 2.8% in the year to March 2019, the latest edition of the Market Growth Monitor from CGA and AlixPartners reveals, with high s … view
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Tuesday 21st May 2019
Restaurant closures accelerate but wet-led pubs and bars bounce back
Restaurant closures accelerate but wet-led pubs and bars bounce back: The number of restaurants in Britain fell 2.8% in the year to March 2019, the latest edition of the Market Growth Monitor from CGA and AlixPartners reveals, with high street … view
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Monday 20th May 2019
Propel Monday News Briefing
Tom Watson to ask CMA to investigate Amazon’s investment in Deliveroo: Labour deputy leader Tom Watson has asked the Competition and Markets Authority (CMA) to investigate Amazon’s investment in Deliveroo latest $575m funding round. A … view
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Friday 17th May 2019
Friday Opinion
Subjects: Making time for meals, the public health cut, cleaning up our act and positive mental health
Authors: Glynn Davis, Paul Chase, Helen McMillan and David Bashford

Making time for meals by G … view

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Friday 17th May 2019
Update: The Restaurant Group, Lucky Onion, 3Sixty Restaurants
TRG reports like-for-like sales up 2.8%: The Restaurant Group has reported “current trading is in line with our expectations with group like-for-like sales for the 19 weeks ended 12 May 2019 up 2.8%” – it holds its AGM today. The co … view
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Friday 17th May 2019
Amazon invests hundreds of millions in Deliveroo
Amazon invests hundreds of millions in Deliveroo: Amazon is leading a new $575m (£450m) Series G preferred shared funding round in Deliveroo alongside existing investors T. Rowe Price, Fidelity Management and Research Company, and Greenoaks. … view
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Friday 17th May 2019
Propel Friday News Briefing
Inception Group to assess growth options: Inception Group, which operates an eclectic collection of London bars and restaurants including Mr Fogg’s, Bunga Bunga and Cahoots, has appointed advisors as it looks to assess its growth option … view
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Thursday 16th May 2019
Pret talks to acquire rival EAT at advanced stage
Pret talks to acquire rival EAT at advanced stage: Pret, the JAB Holdings-owned chain, is in talks to acquire circa 90-strong rival EAT, which was placed on the market earlier this year. Both parties told Propel they wouldn’t comment on spec … view
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Thursday 16th May 2019
Update: Giggling Squid, Mowgli
Giggling Squid updates on pipeline, all sites profitable: Giggling Squid, the Thai tapas brand founded by Andy and Pranee Laurillard and backed by BGF, has updated on its pipeline as it expands its geographical footprint. The company plan … view
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Thursday 16th May 2019
Propel Thursday News Briefing
Ramsay set for US expansion following new investment: High-profile chef Gordon Ramsay is set to ramp up his presence in the US on the back of a new investment deal. Propel understands the chef is close to concluding a deal with Lion Capit … view
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Wednesday 15th May 2019
Update: Marston’s results, new concept, No 1 Rosemary Water, SSP results
Marston’s targets £120m of disposal proceeds as it bring down debt by £200m: Marston’s chief executive Ralph Findlay has told Propel the company will target sale proceeds of £120m in the period between 2020 and 2003 – and it … view
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Wednesday 15th May 2019
Propel Wednesday News Briefing
Lilley – Abokado is ‘exitable’ this year: Mark Lilley, co-founder of Abokado, the London-based, healthy eating chain, has told Propel he believes the 24-strong company will be in a position to seek an exit for backer Kings Park Capi … view
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Tuesday 14th May 2019
Update: Ivy Collection, Greggs and Ei Group results
Baton Berisha promoted to managing director of The Ivy Collection: The Ivy Collection has promoted Baton Berisha to managing director, effective immediately. Berisha joined the group in 2014, before being promoted to director of operation … view
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Tuesday 14th May 2019
Propel Tuesday News Briefing
Campaign calls for introduction of industry-wide accreditation scheme to drive ‘greater clarity’ on tipping: A campaign has been launched to push for the introduction of an accreditation scheme in a bid to give operators and diners mo … view
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Monday 13th May 2019
Update: Escape Hunt, Goals Soccer Centres
Escape Hunt reports progress in the UK: Escape room operator Escape Hunt has reported revenue of £2.31m in the year ended 31 December 2019, compared to £870,000 the year before. It has opened eight owner-operated UK sites in Bristol, Bi … view
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Monday 13th May 2019
Propel Monday News Briefing
Pubs see like-for-likes surge 5.3% in Easter sunshine as restaurant sales plummet: Managed pubs saw like-for-likes surge 5.3% in the Easter sunshine but restaurants struggled in the heat, with sales declining 19.4% compared with Easter 20 … view
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Monday 13th May 2019
Pubs see like-for-likes surge 5.3% in Easter sunshine as restaurant sales plummet
Pubs see like-for-likes surge 5.3% in Easter sunshine as restaurant sales plummet: Managed pubs saw like-for-likes surge 5.3% in the Easter sunshine but restaurants struggled in the heat, with sales declining 19.4% compared with Easter 2018, a … view
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Friday 10th May 2019
Leon reports like-for-likes up 15.2% as revenue rises to £95m
Leon reports like-for-likes up 15.2% as revenue rises to £95m: Natural fast food brand Leon has reported like-for-like sales were up 15.2% for the year ending 31 December 2018. Sales increased 24.5% to £95m, compared with £76.3m the previou … view
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Friday 10th May 2019
Friday Opinion
Subjects: Opposite ends of the scale, Transition for talented people, Warners weekend, and revitalising our high streets
Authors: Glynn Davis, Nick Bish, Ann Elliott and Brigid Simmonds 

Opposite … view

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Friday 10th May 2019
Capdesia acquires minority stake in Wasabi; set for further growth
Capdesia acquires minority stake in Wasabi; set for further growth: London-based private equity firm Capdesia, which was founded in 2017 by Christopher Unrath and Niels Lorijn, formerly of US private debt firm CapitalSpring, has acquired … view
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Friday 10th May 2019
Propel Friday News Briefing
Kricket founders put spin-offs and international expansion ahead of fourth London site: Will Bowlby and Rik Campbell, founders of Indian small plates concept Kricket, have told Propel the brand is eyeing potential spin-offs and internatio … view
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Thursday 9th May 2019
Update: Cote results, Time Out Market Miami and Diageo
Cote reports sales growth although adjusted Ebitda down: The parent company of the 93-strong French brasserie chain Cote has reported a 4% increase in revenue to £146.3m in the year to 29 July 2018. However, adjusted Ebitda was down to … view
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Thursday 9th May 2019
Propel Thursday News Briefing
Rosa’s founders to launch Chinese noodles concept with TriSpan support: Rosa’s Thai Cafe founders Alex and Saiphin Moore will launch Chinese noodles concept Hoh Sek Noodles this summer in London’s St Katharine’s Dock, Propel has l … view
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Wednesday 8th May 2019
Update: JD Wetherspoon trading, Fuller's value, Elegant Hotels, BigDish
JD Wetherspoon reports like-for-like sales up 7.6% in latest quarter: JD Wetherspoon has reported like-for-like sales increased by 7.6% and total sales increased by 8.4% in the 13 weeks to 28 April 2019. Year-to-date like-for-like sales h … view
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Wednesday 8th May 2019
Propel Wednesday News Briefing
Hakkasan to focus on international growth as it ends MGM Resorts management partnership at Las Vegas venues: UK-based restaurant and nightclub company Hakkasan Group is to focus on international growth as the business ends its partnership … view
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Tuesday 7th May 2019
Exclusive – Pod put up for sale after continuation of negative sales trend
Exclusive – Pod put up for sale after continuation of negative sales trend: Pod, the 22-strong, London-based healthy eating operator, has been put up for sale, Propel has learned. Pod has appointed RSM as advisor to run the process with … view
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Tuesday 7th May 2019
Update: Domino's Pizza and Budweiser Brewing Group
Domino’s Pizza reports UK like-for-likes up 3.1% in First Quarter, weak international performance: Domino’s Pizza has reported group system sales were up 4.5% in the 13 weeks to 31 March 2019. The UK market saw like-for-like sales up … view
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Tuesday 7th May 2019
Propel Tuesday News Briefing
Gourmet Burger Kitchen sees full-year operating losses widen to £4.6m: Gourmet Burger Kitchen (GBK) has seen its operating losses widen to £4.6m for the year ended 28 February 2019, leading to earnings at parent company Famous Brands fa … view
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Saturday 4th May 2019
Wadworth reveals managed like-for-likes up 2.3% as income from division overtakes tenanted for first time
Wadworth reveals managed like-for-likes up 2.3% as income from division overtakes tenanted for first time: Devizes-based brewer and retailer Wadworth has revealed income from its managed division has overtaken its tenanted arm for the first ti … view
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Friday 3rd May 2019
Friday Opinion
Subjects: Accelerating senior hire performance, the future isn’t necessarily orange and MUP threatens pubs amid bonfire of the vanities
Authors: Chris Edger, Glynn Davis and Paul Chase

Accelerati … view

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Friday 3rd May 2019
Update: Marston’s, Shake Shack, Signature Living, Merlin
Douglas Jack – expect steady growth for Marston’s: Peel Hunt leisure analyst Douglas Jack has said he expects Marston’s to have shown steady growth in its first half of the financial year. Issuing an ‘Add’ note on the shares wit … view
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Friday 3rd May 2019
Propel Friday News Briefing
Ethical food and drink sales hit £8.2bn, forecast to grow 17% in next five years: Ethical food and drink sales hit £8.2bn in 2018, with British consumers increasingly conscious of what they are buying, according to new research by Minte … view
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Friday 3rd May 2019
Ethical food and drink sales hit £8.2bn, forecast to grow 17% in next five years
Ethical food and drink sales hit £8.2bn, forecast to grow 17% in next five years: Ethical food and drink sales hit £8.2bn in 2018, with British consumers increasingly conscious of what they are buying, according to new research by Mintel. Du … view
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Thursday 2nd May 2019
Update: The Restaurant Group’s new chief executive, Pret A Manger
The Restaurant Group confirms Andy Hornby as chief executive of £630,000 base salary: The Restaurant Group has confirmed the appointment of Andy Hornby as chief executive. The company stated: “We will update on Andy Hornby’s start da … view
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Thursday 2nd May 2019
Propel Thursday News Briefing
Yum! Brands reports KFC UK sales up 19% in first quarter against last year's delivery saga: Yum! Brands has reported KFC system sales in the UK rose 19% for the first quarter ended 31 March 2019, compared with the previous year when a del … view
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Wednesday 1st May 2019
Sky News – TRG to appoint Andy Hornby as CEO
Sky News – TRG to appoint Andy Hornby as CEO: The Restaurant Group (TRG) is to appoint Andy Hornby, the former HBOS boss, as its new chief executive. Hornby, the joint chief operating officer of Ladbrokes' parent company GVC Holdings, is clo … view
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Wednesday 1st May 2019
Propel Wednesday News Briefing
Cask Marque launches ‘all-beer’ scheme to ‘drive up standards and maximise profits’: Cask Marque is taking what it has learned from its cask beer scheme and is applying it to all types of beer by launching a new accreditation sche … view
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