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Morning Briefing for pub, restaurant and food wervice operators

Wed 21st Feb 2024 - Propel Wednesday News Briefing

Story of the Day:

Exclusive – Brasseria Family launches crowdfund to open third site, already raised almost £1.2m with YO! founder Simon Woodroffe among backers: Neighbourhood all-day Italian restaurant Brasseria Family has launched a crowdfunding campaign as it aims to open its third London site, Propel has learned. The campaign has already raised almost £1.2m with its backers including YO! founder Simon Woodroffe. Founded in 2018, Brasseria Family is planning to open a restaurant in Brompton Road in South Kensington, adding to its venues in Marylebone and Notting Hill, which served more than 260,000 customers in 2023. Brasserie Family was aiming to raise £1,050,000 and was offering 23.21% equity in return for the investment, giving the business a pre-money valuation of £3,862,745. Having opened the campaign to selected investors known to the business, the company has already raised £1,175,000 from circa 50 investors. The funds will go towards the building, promoting and opening of the new site. Owner Alberto Fraquelli said: “We have 10% of our workforce who now have ownership in the business and have become members of our family. The best way to touch people is involve them in the journey and we think crowdfunding is the ideal way to do that. Our first backer is a sophisticated industry specialist in Simon Woodroffe and the only way to be successful is if more people invest in Brasseria Family. At South Kensington, we are going to have a dining room and a cafe area at the front and terrace. La Brasseria Milanese has become an institution for Marylebone. It is a hub for the area and Brasseria in Notting Hill is doing the same. We have regular customers and we have become a part of their lives. We are going to bring the same warm experience to South Kensington.”

Industry News:

Freeman Event Partners CEO Stephen Freeman to speak at first Propel Multi-Club Conference of 2024, open for bookings: Stephen Freeman, chief executive of Freeman Event Partners, will be among the speakers at the first Propel Multi-Club Conference of 2024. More than 350 people have booked for the conference, which takes place on Thursday, 21 March, at the Millennium Gloucester Hotel in London’s Kensington, and is open for bookings. Freeman will talk about how the business has grown from a fish and chip van at Silverstone to be the food and beverage provider at Wembley, Lord’s, Twickenham, and the British Grand Prix, and how it is playing its part in the evolution of the consumer/fan experience. Operators can book up to three free places per company while Premium Club members who are operators can book up to four free places. To book, email kai.kirkman@propelinfo.com.

Cafe and bakery concepts among 14 new businesses joining updated Premium Database of Multi-Site Companies: Cafe and bakery concepts are among the 14 new multi-site companies being added to the next edition of the Database of Multi-Site Companies, which will be released to Premium Club members on Friday (23 February), at midday. The additions to the database, produced in association with Virgate, include dessert franchise Chocoberry, led by chief executive Kashif Razzaq, which has 14 UK sites and one overseas location. Also added is the London all-day brunch and coffee concept Flying Horse Coffee, founded by Jack Bradshaw and Phillip Way in 2018, plus Vegivores, the plant-based cafe opening its second site this month. Premium Club members also receive access to five other databases: the Turnover & Profits Blue Book, the New Openings Database, the UK Food and Beverage Franchisor Database, the UK Food and Beverage Franchisee Database and the Who’s Who of UK Hospitality. Plus, all Premium Club members will be offered a 20% discount on tickets to five Propel paid-for events – The Excellence in Pub Retailing Conference (14 May), Social Media for Profit (18 July), the Talent and Training Conference (1 October) and Restaurant Marketer and Innovator (two days in January 2025). Operators will also be able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club members receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club members will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct them to all the vital content their membership offers. Premium Club members also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or a supplier. Email kai.kirkman@propelinfo.com today to sign up.

Exclusive – Stephen Gould to become McMullen chairman: Stephen Gould, the outgoing managing director of Leicestershire brewer and retailer Everards, is to become chairman of Hertfordshire brewer and retailer McMullen, Propel has learned. Gould will step down as managing director at Everards next February and then will take up his new role at McMullen. He started his career at Bass before joining Punch and subsequently Everards where he became managing director in 2005. Gould will remain on the board of Everards as a non-executive director. His appointment comes as Charles Brims announced his intention to retire at McMullen’s annual general meeting in February 2025 after 22 years as the company’s chairman. Brims started his career in the industry with Courage before becoming chairman of Gales and subsequently, in 2003, chairman of McMullen, which currently operates 86 managed pubs and 38 tenanted sites. Everards has appointed Andy Wilson as its new managing director. Wilson, former managing director of Greene King’s destination food brands division, joined Everards this month as joint managing director with Gould, who he will succeed next February.

Restaurants’ delivery and takeaway sales rise for eighth month in a row: Delivery and takeaway sales at Britain’s leading managed restaurant groups last month were 4% ahead of January 2023, CGA by NIQ’s latest Hospitality at Home Tracker shows. This is an eighth consecutive month of like-for-like growth and an improvement on the 1% growth in December 2023. However, growth has slowed in recent months, and year-on-year increases have not exceeded 4%, the current rate of inflation as measured by the Consumer Prices Index, since September. The tracker reveals January’s growth was powered by deliveries and increased prices rather than takeaways and order volumes. Deliveries across all groups were 7% ahead of January 2023, while takeaway and click-and-collect revenues were down 5%. Combined order numbers fell 2% year-on-year. Deliveries now account for 11p in every pound spent with restaurant groups, while takeaways attract 4p in the pound and eat-in sales are worth 85p. CGA by NIQ director Karl Chessell said: “While 4% growth is not spectacular, eight months of year-on-year increases do indicate welcome stability in the delivery and takeaway sector. Achieving decent profits on these sales, especially via third-party platforms, remains challenging, but consistency in the balance of at-home and eat-in trading is at least helping groups to plan operations with more confidence. They will be hoping that recent disruption to deliveries from staff strikes at leading providers will not compromise orders for long.”

UKHospitality backs new food security measures: UKHospitality has backed new food security measures announced by the government. At the NFU Conference, prime minister Rishi Sunak announced an annual UK-wide Food Security Index would be produced and a “farm to fork summit” would be held annually. Kate Nicholls, chief executive of UKHospitality, contributed to the conference, discussing the future of British food, and backing the measures. She said: “Food is at the absolute core of hospitality’s offering and robust food security in the UK is critical to our venues. It’s essential to maintain continuous supply and also to offer our customers the high-quality food they rightly demand. Both of the measures announced by the prime minister are very positive and I’m pleased the government is building on the success of the farm to fork summit held last year. I was delighted to be involved in that summit and it’s so important that hospitality continues to be a central part of this work. After all, hospitality feeds around 20 million people each week and is a significant route to market for food producers.”

Job of the day: COREcruitment is working with a growing investment group that is enhancing its portfolio of luxury hospitality and leisure brands and is seeking a hands-on chief executive/chief operating officer to take on the position of non-executive director. A COREcruitment spokesperson said: “You will have a background in the consumer industry including travel, leisure or big brand and possess experience with growth across the UK and Middle East, driving membership and attendance. The business has gone from strength to strength, with plans to grow across the UK. This is a unique opportunity to shape the future of a dynamic and ambitious luxury fitness concept within its portfolio.” The salary is up to £50,000 per year with a commitment of one day per week and is based in London. For more information, email emma@corecruitment.com.

Company News:

Yorkshire forecourt operators set to take their burger concept national with plans for up to 60 sites: Yorkshire forecourt operators Fuzail and Siddika Patel are set to take their independent burger concept national, with plans for up to 60 sites, Propel has learned. The husband-and-wife team own a network of four forecourts in the region, and Yoh Burger was initially founded in 2018 as an own-brand food and beverage unit within their petrol station at Fitzwilliam Road, Rotherham. A second soon followed when the pair converted a former Subway unit within their petrol station at Doncaster Road, Wakefield. This, in turn, has been followed by delivery-only kitchens in Huddersfield and Leeds, while Manchester and Sheffield sites are in the pipeline too. To assist with Yoh Burger’s growth, they have brought on board experienced operator Paolo Peretti as a franchise consultant. Peretti, former managing director at Patisserie Valerie, now runs his own consultancy business, Paolo Peretti Group, which is also helping grow brands such as Tikka Nation, Rice Guys and Karak Chaii. “The owners are looking to move away from forecourts and into larger eat-in areas,” Peretti told Propel. “Manchester will be their first high street location and will be a prototype for future openings, and that’s what we will franchise. We’re hoping to have the first open by the autumn. We’ve had enquiries from as far as Weymouth but will probably grow it locally to start with. Eventually, it has the potential to grow to 50-60 stores over the next five years.” Peretti said Yoh Burgers offers “quite a variety” and “more than just burgers” with chicken tenders and rice boxes also on the menu, along with a brunch offering, a dessert menu and sharer boxes. “It’s price point and quality point sit in front of most burger brands, and everything is made fresh to order,” he added. “While the plan is to start to move away from forecourts, we still plan to offer the brand to forecourt traders, especially those that wish to convert existing retail offers into Yoh Burger.”

Sticks’n’Sushi secures £22m loan to support growth plans: Japanese premium restaurant group Sticks‘n’Sushi, in which McWin, the backer of Gail’s and Big Mamma Group, acquired a majority stake last month, has secured a new £22m loan from OakNorth to support its growth plans. Founded in Denmark in 1994 by Thor Andersen, Kim Rahbek Hansen and Jens Rahbek Hansen, Sticks‘n’Sushi currently operates 12 restaurants in the UK, three in Germany, 12 in Denmark and three catering and delivery kitchens. The new loan alongside funding from McWin will aid the company’s plan to accelerate its growth in its existing markets and also enter new markets over the next five years. It previously said it sees “many opportunities arising with markets like France and DACH being top priorities for us”. Andreas Karlsson, chief executive of Sticks‘n’Sushi, said: “Our continued growth is really exciting – we’ve opened a restaurant every year since 2012 and we launched two last year in Shoreditch and Kingston, followed by Richmond this May – which will make it three in nine months. Over the years, we’ve built a loyal customer base that continues to choose us because of the quality of food we serve, and the quality of service we provide. We have identified great locations for several new restaurants in the coming years, and with the support of McWin and OakNorth, we will be able to take advantage of this.” The acquisition by McWin is understood to have valued Sticks‘n’Sushi at circa €80m (£68.5m). Talking to Propel last month, Karlsson said: “We are working on our pipeline. Hopefully there’s one or two more to open after Richmond this calendar year. I have started to look at opportunities outside of London and the south east for the next 12 to 24 months. We are working on a strategy to explore a new city and we always look at opening more than one where we go. It’s all about seeing if when we open in a city, we can do three or four restaurants over a period of two to three years.” The loan to Sticks‘n’Sushi marks the first pan-European deal for OakNorth. Stuart Blair, director of debt finance at OakNorth, said: “In Andreas, Sticks‘n’Sushi has a seasoned leader with more than three and a half decades of experience in the industry, and with the backing of McWin, it is primed for future growth.”

Nightcap CEO – it’s clear there is once again a love for live music among consumers: Sarah Willingham, chief executive of Nightcap, has told Propel that “it’s clear there is once again a love for live music” among consumers following its acquisition of Piano Works. The company – which owns The Cocktail Club, the Adventure Bar Group, Dirty Martini and the Barrio Familia of bars – has added Piano Works to its portfolio after acquiring the business for £200,000 following a pre-pack administration. Piano Works operates sites in Farringdon and since November last year in Covent Garden, where it has had a residency within Nightcap’s Barrio venue after relocating its West End site. Speaking following the deal, Willingham said: “We saw how well we worked together with the residency and the success of the Christmas trade. When the opportunity arose to continue the partnership with [Piano Works founder] Alan [Lorrimer] and his team it was a no-brainer. It’s clear there is once again a love for live music as we have seen in our Birmingham site, Luna Springs. It’s a great addition to the group. We have already seen how Piano Works has a dedicated following in London – when it moved to Covent Garden, its audience followed. We think it can sit nicely with our other brands. It’s about giving the audience an experience, which all our brands do in London and the regions. We have a very strong management team. We are able to pivot and move quickly as challenges (like train strikes) have shown us. We also have a huge offering for a wide ranging audience – from Generation Z to Generation X – we have something for everybody. The fact we don’t focus on one thing or one brand has helped us become one of the leading premium bar groups.” Asked when Nightcap expects to return to expansion in terms of opening new sites, Willingham said: “We are always looking for new opportunities but the time has to be right.”

Costa Coffee to open in-store cafes at Sainsbury’s supermarkets: Costa Coffee is to open 11 new sites within Sainsbury’s stores this year as part of an extended partnership with the supermarket chain. The first site under the extended partnership opened last week at Sainsbury’s store in Farlington, Portsmouth, with Costa Coffee set to invest £3m on expanding the collaboration. The agreement is set to create more than 100 job opportunities. The new store tie-up is the latest step in a relationship between the two companies. Alongside its ready to drink and at home ranges, Costa already has more than 1,000 Costa Express machines in Sainsbury’s stores and petrol stations, selling ten million cups of coffee in 2023 alone. Nick Ridley, property director at Costa, said: “We are excited to join forces with Sainsbury’s, bringing our much-loved Costa Coffee experiences to shoppers nationwide.” Richard Crampton, Sainsbury’s director of fresh food, added: “We know that customers like the convenience of being able to stop for a drink, snack or sit-down lunch while they’re doing their shopping, and we think that Costa Coffee stores will offer a fantastic opportunity to do this within Sainsbury’s supermarkets. That’s why we’re delighted to be building on our existing collaboration with Costa Coffee to roll out this fantastic new option for customers in our stores over the next year.” Sainsbury’s also has partnerships with food-to-go retailer Greggs, which launched a pilot site with the supermarket last October, and Boparan Restaurant Group’s The Restaurant Hub, which comprises brands such as Caffè Carluccio’s, Gourmet Burger Kitchen and Slim Chickens. 

Simon Shaw to launch new immersive venue in Manchester: Simon Shaw, chef-patron and creative director of the El Gato Negro and Canto concepts, is to launch a new immersive concept featuring shuffleboard and darts, in Manchester. Shaw, who in partnership with operator Mills Hill Developments, owns El Gato Negros in Leeds, Liverpool and Manchester, plus Canto Manchester, will open Black Cat Club in the city’s Brown Street in March. It will be the first venue from the partnership to have gaming elements such as flyby darts and interactive shuffleboard that guests can partake in while enjoying pizza, burgers, and a selection of small plates. Shaw said: “We are thrilled to announce the launch of new concept, Black Cat Club, sister venue to Michelin recommended El Gato Negro and neighbourhood favourite, Canto. Our new concept is all about bringing people together in a high energy environment, with great music and refined interiors. We’re introducing interactive group games alongside a diverse and contemporary food menu.”

Big Table Group appoints Andy Felton as Bella Italia ops director: The Big Table Group – the Las Iguanas, Banana Tree and Café Rouge operator – has appointed Andy Felton, formerly of PizzaExpress and Waitrose, as the new operations director of its Bella Italia brand, Propel has learned. Felton spent more than three years at PizzaExpress as its director of operations. Prior to that he spent 11 years at Waitrose, including more than four and a half years as the retailer’s head of distribution. Last December, Alan Morgan, chief executive of the Big Table Group, told Propel that the company’s circa 70-strong Bella Italia brand continues to deliver and that it has “some of the highest value for money scores of all its competitor set”. Morgan said: “Bella Italia is not the sexiest business in the market, but the brand is growing and it's quite attractive, particularly in the current marketplace. One reason it’s growing is that Bella Italia has some of the highest value for money scores of all its competitor set so customers know Bella Italia is great value for money. Some people have an expectation that Bella Italia is slightly lower end than its direct competitors, which plays to our advantage when people are thinking about wanting to spend less.”

Marco Pierre White restaurant in Blackpool set to launch this spring as one of several 2024 openings: A new Marco Pierre White restaurant in Blackpool is set to launch this spring as one of several openings for the business in 2024. Located in what will be a new, 127-bedroom Holiday Inn hotel, the restaurant will form part of the town’s £350m Talbot Gateway project. The restaurant will be a Marco’s New York Italian, following an agreement between Blackpool Council and Black and White Hospitality, the franchising arm of Pierre White’s restaurant business. The 90-cover restaurant will serve a mixture of Italian-inspired dishes and American classics including fresh pasta, handmade pizza and steaks. Nick Taplin, chairman and chief executive of Black and White Hospitality, said: “The New York Italian fits perfectly with the Holiday Inn and we already have a number of hugely successful restaurants trading under this popular hotel brand. Black and White Hospitality has a very strong portfolio and our business model of aligning the restaurant brands with hotels is one that has proved very successful in the UK. With a number of new openings planned for 2024, it’s great that we are bucking the trend when it comes to opening new restaurants. The team is now working hard to get these new sites ready and open over the next few months.” In preparation for the restaurant’s launch, Katherine Gonzales-Moore has been hired as restaurant manager and Phil Andrews as head chef. In October, Propel revealed that Black and White Hospitality, which owns the rights to eight Marco Pierre White brands, is looking to grow them in the UK with a focus on Mr White’s, for which it currently has two restaurants. The expansion plans will also look to drive the presence of the 18-strong Marco Pierre White Steakhouse Bar & Grill and seven-strong Marco’s New York Italian brands.

RedCat Pub Company appoints Alice Barriball as new head of people: RedCat Pub Company, the investment vehicle founded and chaired by Rooney Anand, has appointed Alice Barriball, formerly of Marston’s and Greene King, as its new head of people. Barriball was previously director of talent acquisition and employer brand at Marston’s for two years. Prior to that she spent more than six and a half years at Greene King, including 16 months as its group head of resourcing. She takes over from Paul Silk, formerly of Greene King, who has left RedCat after 18 months with the business. Earlier this month, Propel revealed that Kevin Charity, the founder and chief executive of the Coaching Inn Group, will be stepping down from his role at the end of March and retire. Founded by Charity in 1996, the award-winning Coaching Inn Group operates a portfolio of iconic and historic coaching inns and pub hotels across the UK. Acquired by RedCat in August 2021, it has nearly doubled in scale, growing from 18 to 35 sites. Richard Lewis will step up and become chief executive of RedCat Pub Company, comprising RedCat managed pubs, leased and tenanted pubs, and the Coaching Inn Group. 

Adventure Leisure lines up Hemel Hempstead site for 13th Mulligans venue: Adventure Leisure, a subsidiary of Burhill Group (BGL), has lined up a site in Hemel Hempstead site for its 13th Mulligans venue. Set to open this summer in Jarman Park, the 15,000 square-foot site will offer an 18-hole crazy golf course, pool tables, electro-darts oches, shuffleboard tables, karaoke rooms and Adventure Leisure’s largest arcade gaming area to date, alongside a food and beverage offering. It follows the recent opening of the second site for Adventure Leisure’s Bunker’s concept, in Romford, east London. Colin Mayes, chief executive of BGL, said: “I’m thrilled to be expanding one of our most successful brands to its ‘lucky’ 13th venue. It’s incredible to think that a brand that started as smaller outdoor adventure golf courses has evolved in such a short period of time.” Andrew Scholey, operations and development director of Adventure Leisure, added: “Following the success of Bunkers Romford, our latest Mulligans venue aims to provide a premium experience to all those who walk through our doors. Hemel Hempstead at Jarman Park is set to become our best Mulligans venue to date.” Mulligans Hemel will become BGL’s 30th venue overall and 20th competitive leisure venue from brands including Mulligans, Bunkers, Ninja Warrior UK and Total Ninja. It also operates ten golf clubs. Its Adventure Leisure division operates Mulligans and Bunkers venues in Basildon, Birmingham, Bournemouth, Bristol, Cheltenham, Milton Keynes, Newcastle, Norwich, Stevenage, Swansea, Tonbridge and Worcester, as well as Sidcup Family Golf.

Chopstix secures The O2 site: Fast-growing, quick service restaurant brand Chopstix is to open a site in the Entertainment District at The O2 in London. The business has agreed a deal with Waterfront Limited Partnership, a joint venture between AEG Europe and Crosstree Real Estate Partners, for a 1,991 square-foot space. Chopstix continues to grow its footprint at pace, having already opened five new sites in 2024 across the UK. Chopstix at The O2 will feature new state-of-the-art digital screens and the brand’s standard menu such as its caramel drizzle chicken. Rob Burns, marketing director at Chopstix, said: “Signing this site at The O2 is a big moment for us, as it is a destination we’ve targeted for a long time. Following our significant 2023 growth, we are thrilled to be launching at such an iconic location, one that aligns with our efforts in investing within the local community and delivering an unparalleled dining experience. We have some exciting plans for our new restaurant at The O2, and we can’t wait to bring our faster, fresher, tastier pan-Asian dishes to the destination’s widespread visitors.”

Team behind Pop Golf evolves concept ahead of Kingston opening: The team behind Pop Golf at Boxpark Wembley has evolved the concept ahead of opening its second site. Pop Playrooms, which will be a multi entertainment venue, will launch at The Rotunda in Kingston-upon-Thames next month. Offering a drink, dine, and play experience “that pays homage to all the biggest hits and latest trends”, the venue will feature a nine-hole immersive mini-golf course, American pool tables, and augmented reality darts. Pop Playrooms has partnered with street food concept, Wing Wing, which will offer Korean-style crispy double-fried chicken and sides. Players can also scan QR codes, unlocking a curated collection of playlists that extend the pop experience beyond the venue. Cocktails will take centre stage on the drinks menu, and include Sweet But Psycho with Shankeys whip black whiskey liqueur and freshly squeezed grapefruit, and Bad Bunny with Malibu passionfruit rum liqueur and Disaronno. Allan Saud, Dmitry Leus and Daniil Leus, co-owners of Pop Playrooms, said: “We wanted everyone to enjoy Pop Playrooms that’s why we’ve broadened the amazing Pop Golf concept to be a multi-activity destination, so there’s more on offer for everyone. The addition of a fantastic, recognised food operator in Wing Wing means taking things to the next level. We’re really excited to get launched in Kingston and have plans to expand with more activities into larger sites in the future.” 

Popeyes UK rolls out breakfast menu nationwide: Popeyes UK, the US fried chicken quick-service restaurant brand backed here by TDR Capital, has begun rolling out its breakfast menu across restaurants nationwide and for delivery. The new offer includes Popeyes big Cajun roll for £4.99 (a sausage patty, a Cajun hash brown, a free-range egg, four bacon rashers, American cheese and Cajun ketchup in a premium brioche bun). The menu also features a veggie-friendly egg and cheese muffin (£3.50) alongside bacon or sausage variations (also £3.50), plus a bacon roll meal deal for £1.99 for a limited time. The brand’s signature Louisiana Biscuit is also available in a variety of breakfast-friendly formats, including a cinnamon sugar-dusted biscuit (£1.75), or the original biscuit and Nutella (£1.99), Hartley’s strawberry jam (£1.99) or honey (£1.50). Dave Hoskins, head of food at Popeyes, said: “We’re thrilled to be rolling out our delicious breakfast menu nationwide so more people can kick-start their day with a taste of New Orleans. We’ve designed our menu to shake up the UK grab-and-go breakfast scene, taking breakfast classics and levelling them up with a pinch of Popeyes spice.” The menu roll-out comes after Popeyes announced plans to double its estate in 2024, opening more than 30 new locations by the end of the year.

India street food concept opens debut site in Covent Garden: Keep Chaating, a new street food concept, has opened its debut site in London’s Covent Garden. The brainchild of chef Priti Prakash, Keep Chaating has opened on the former Peachy Queen site at 63 Neal Street. The menu comprises a “broad blend of delectable delicacies from across India, in what is as close to an authentic taste of India's rich street food culture that is available anywhere in central London”. Prakash is from Surat, a city in India celebrated for its vibrant street food. David Kornbluth and Salvatore Di Natale, of CDG Leisure, acted on behalf of the outgoing tenant to assign over the lease to the new tenant. Peachy Queen, the bar concept from brothers Matt and George Machan, also previously operated sites in Bournemouth and Putney. 

WTW Cinemas – business levels disappointing but slowly improving, ‘not known whether trade will ever recover to pre-covid levels’: WTW Cinemas, which operates four sites in Cornwall under its eponymous concept and seven outlets under the Scott brand, has said while business levels are “disappointing but slowly improving”, it is “not known whether trade will ever recover to pre-covid levels”. The business saw a pre-tax profit of £74,408 in 2022 turn into a loss of £924,880 in the year to 31 March 2023. Turnover was up from £5,965,944 to £7,137,332. Of this, £4,488,300 came from admission fees (2022: £3,828,801), £2,075,078 from confectionary and bar sales (2022: £1,765,207), £375,284 from advertising (2022: £189,386) and £198,670 from booking fees (2022: £182,550). No dividends were paid (2022: nil). The company received £118,772 in government grants compared with £656,399 in 2022. It also received £1,348,100 in capital grants to fund the build of a new cinema in Bridgwater. Director David Williams said: “Covid-19 and its legacy continued to cause problems for the cinema industry as a whole. Reduced admissions and rising costs of utilities and wages make profitability more difficult. People are still hesitant to use cinemas and footfall remains lower than in pre-covid years. Unfortunately, because of a lack of customer confidence and reluctance from the major film studios to release new films, business levels have proved disappointing but are slowly improving. It is not known whether or not trade will ever fully recover to pre-covid levels. Careful consideration will need to be taken in future regarding the financial viability of some of the group’s sites and the potential sale of certain sites that are not performing.” Williams added that reduced profitability is directly linked to the loss of the grant aid and significant expenditure on repairs and maintenance, while electricity costs have also more than doubled. He said initial results show the new Bridgwater site is trading well but “there is some concern over the level of expenditure” on it. Repayment of a £1.3m inter-company loan to fund the completion of a previous cinema will commence after 1 April 2024. During the year, WTW Cinemas also purchased a further 5% shareholding in its subsidiaries, WTW Scott Cinemas and WTW Cinemas, for £175,418 including costs. Its controlling shareholding now totals 95%.

Napoli-born siblings set to open Hackney pizzeria: Napoli-born siblings Arianna and Giovanni Izzo are set to open a new pizzeria in London’s Hackney. Arianna, who previously worked as a pastry chef at Tarallificio Leopoldo in Naples, is joined by her brother Giovanni for Unlock, which is set to open next month at 1 Monkwood Way. It will offer a menu split into classic and artisanal pizzas alongside dishes such as meatballs with fries and cheddar sauce, plus a special set menu that pairs slices of the artisanal pizzas with cocktails. There will also be wine from small wineries in the Campania region and sparkling wine from northern Italy. The restaurant will seat 75 indoors, with two semi-private dining rooms accommodating six and eight guests respectively. There will be a separate bar, seating around 18, and a 15-cover terrace overlooking the canal. Arianna said: “We feel we’ve found the perfect home. Hackney is a vibrant neighbourhood, the place to be creative and bring together our Neapolitan heritage with our passion for pushing boundaries, hopefully ‘Unlocking’ the potential for our guests to explore unusual but delicious flavour combinations.”

Perilla team opens new Mediterranean-inspired restaurant and wine bar in London’s Exmouth Market: The team behind Perilla in London’s Stoke Newington has opened a new Mediterranean-inspired restaurant and wine bar in Exmouth Market. Morchella sees Ben Marks – who has worked at Claridge’s, The Square and Noma, and Matt Emmerson, formerly of London-based restaurant company Polpo – partner with Great British Menu veteran, Daniel Fletcher, who has worked at The Square, Sky Garden and 28 Market Place. Located in a former bank at 84-86 Rosebury Avenue, Morchella offers Mediterranean style sharing dishes, including salt cod churros, scallop with cauliflower mushroom, hake with sobrasada and salt baked poussin with chilli sauce. The ground floor features a 68-cover dining room with an open kitchen at its centre, plus a wine bar. There is also a private dining room for 14 in the basement, and in the warmer months, a 24-seater outdoor dining terrace overlooking Exmouth Market will open.

Wagamama opens fourth Glasgow restaurant: Wagamama, The Restaurant Group-owned brand, has opened its fourth Glasgow restaurant, located in the city’s St Enoch Square. The 130-cover restaurant has created 57 jobs and brings Wagamama’s total to 161 restaurants across the UK. Milly Pearson, Wagamama’s regional marketing manager for the north, said: “St Enoch Square has become the beating heart of the city, and we can’t wait to welcome visitors to the shopping destination with our newest menu launch and fresh favourites.” Wagamama earlier this month upped its openings target for 2024 to ten new sites. Further launches in the pipeline include Epsom (March), Doncaster (April), Chatham Maritime (May) and Woodside Leisure Park in Watford (May).

Diageo appoints Julie Brown as new non-executive director: Diageo has appointed Julie Brown as a non-executive director, effective from 5 August 2024. Brown will succeed Alan Stewart, who is retiring from the board ahead of Diageo’s annual general meeting in September after serving as a director since 2014, and as chair of the audit committee. Brown has been chief financial officer and executive director of GSK since May 2023, before which she served as chief operating and financial officer and executive director at Burberry Group between 2017 and 2023. Diageo chairman Javier Ferrán, said: “Julie brings many years of experience in financial, commercial and strategic roles in international companies operating in highly regulated industries. I look forward to her contribution to board discussions and to working with her in progressing Diageo’s ambition to be one of the most trusted and respected consumer products companies in the world. I would like to thank Alan Stewart, who has served Diageo with great distinction. We have benefited greatly from his expertise and strategic input and we wish him the very best for the future.”

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