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Morning Briefing for pub, restaurant and food wervice operators

Mon 7th Dec 2015 - Town and Country reports £1.1m loss after perfect storm, Yummy opening
Town and Country Inns reports second year of losses after perfect storm: Town and Country Inns, led by Mark Jones, has reduced its losses but reported a fall in turnover of nearly £1m after “being blighted by a perfect storm of bad luck”. The company saw a pre-tax loss of £1,117,798 in the year ending 31 March 2015, compared to a loss of £3,496,586 the year before, according to accounts filed with Companies House. Turnover fell to £6,668,441, compared to £7,641,395 the previous year. The company stated: “The company sold its freehold properties in the year, thus enabling it to repay the bank borrowings in full, thus the company has replaced capital and interest payments with lower property rentals. Not only has the venue in Cheltenham been subjected to long-standing road works, but the three largest of the company’s venues are in, or next to, Summerrow, a once bustling ‘destination’ address in Birmingham that has been decimated by vast regeneration works. The pursuit of new blood in the form of three new director appointments (Benjamin Smith, Matthew Boyden, Martin Brown) has been pivotal to the company’s fight back. As such, it is important to emphasise that the company can, and will, work through these operational burdens, but their significance needs to be understood within the context in which the company is compelled to trade, at a time when it is otherwise concentrating on the future of the business and its assets.”

Yummy to open Stoke Newington Tea House on Friday: Yummy Pub Company will open its new site, The Stoke Newington Tea House, on Friday (11 December). In the run-up to Christmas, the pub will be giving away 1,000 cups of tea in random acts of kindness, surprising strangers, family and friends with a welcome brew. A significant non-feature is the bar – there isn‘t one. There’s still a plentiful amount of drink options on offer, guests can select their drink of choice from six hand pulls with regularly rotating craft ales, as well as lagers, bitters and stouts. Customers will be greeted by a vaulted bookcase displaying over 100 styles of tea. There will also be six special mixtures presented each day for those who want to experiment with new flavours. It will serve small plate British tapas (a Yummy specialty), classic British pub food and Sunday roasts. Those with a sweet tooth can also delight in baked cakes, such as the classic red velvet, coffee and walnut, as well as tea infused desserts. Tim Foster, owner of Yummy Pub Company, said: “This pub has been years in the making and it’s taken blood, sweat, tears and a lot of tea tasting to make it happen. We like to put our own spin on things and we’re celebrating the classic British brew by presenting it in a whole new way, as a part of the Great British pub. We’re really excited to be part of a new community and venture into a new area of London. Our people are what make ours pubs great, that includes our customers – we can’t wait to meet our new regulars. And, we’ve added another 24 team members to the Yummy family. Lucy Chappell is the owner of soon-to-launch “The London School of Tea”, which be based above the pub. Chappell spent a year in Darjeeling, India, studying tea management and botany. She is also a consultant for a top tea company and spends her time training, teaching and advising about modern tea culture and new trends. She will be running four specialist tea classes for professionals or something lighter for the home enthusiast.

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