Propel Newsletter Archive Page

Exclusive – Stonegate hires Nigel Sherwood to lead managed business: Stonegate Group, the UK’s largest pub company, has hired Nigel Sherwood, formerly of Wagamama and Nando’s, to oversee its managed business, which will transition to a streamlined portfolio of around 320 pubs, bars and venues by the end of next September, Propel has learned. Sherwood will succeed Carol Campbell, who joined Stonegate last spring, and has stepped down having led the business through a “significant period of change”. Stonegate told Propel it is continuing to reshape its estate as part of its long-term transformation strategy. A key focus is the evolution of the managed business, which currently comprises circa 550 sites, down from the circa 800 when Campbell took up her role last April. Sherwood stepped down as chief operating officer at The Restaurant Group-owned Wagamama last September. He joined Wagamama in 2017, initially as its UK managing director, before going on to become chief operating officer in 2019. He was previously managing director at Shake Shack UK and held senior roles at Nando’s, Byron and Pizza Hut UK. He has more recently been working on special projects at Nando’s. He started his hospitality career as an area manager at Allied Domecq. Stonegate said Sherwood would play a key role in driving performance and overseeing the managed estate – which includes the Slug & Lettuce, Be At One and Popworld brands, as well as a large unbranded estate – and transition of sites under its “estate transformation strategy”. David McDowall, chief executive of Stonegate, said: “I'm delighted to announce Nigel's appointment to lead our managed business as we continue to execute our strategy to transform Stonegate for the future. He is an established industry leader with significant experience in executing transformation strategies across well-known brands. I would like to express my personal thanks to Carol Campbell for her significant contribution, commitment, and support during her time with Stonegate, and wish her every success for the future.” In August, McDowall told Propel that Stonegate was becoming a “partnership-led pub portfolio” as it marked its 200th managed to leased and tenanted conversion. He said the strategic shift from managed to entrepreneur-led, pub partner and Craft Union models was setting the group’s 4,300-strong estate up for long-term success. He said it was also creating a “leaner, more focused managed estate”. Campbell was previously retail director at Wickes and also held senior roles at Walmart, Aldi and Woolworths, both in the UK and internationally. In the summer, Lee Reed, who joined Stonegate at the same time as Campbell, stepped down as managing director of Publican Partners – the company’s circa 3,100-strong tenanted and leased division – after 16 months in the role to “pursue other opportunities”. He was replaced by Dan Castle, who had been at Stonegate for more than a decade, most recently as an operations director.

Industry News:

Sponsored message – Lincoln & York reveals quality coffee as key footfall driver for bakery and sandwich sector: One of the UK’s largest independent coffee roasters, Lincoln & York, has released its latest consumer insight report, which explores the trends behind booming coffee sales in the bakery and sandwich sector. According to the roaster’s research, 81% of consumers said coffee is a major factor in which bakery outlet they choose, clearly demonstrating the need for operators to prioritise a quality coffee offering. Compiled by Lincoln & York’s team of coffee experts and category insight specialists, the report reveals coffee is no longer an afterthought in bakery and sandwich shops, but a key driver of footfall and sales, even without food purchases. Backed by 30 years of knowledge working with the biggest names in high street coffee, independent coffee shops and wider retail and hospitality venues, Lincoln & York’s Rise of Bakery Coffee report provides actionable insights for operators to meet consumer demand for high-quality, convenient coffee experiences and navigate this opportunity for growth. Download the report for free here. If you have a sponsored story you would like to see featured in this newsletter position, email paul.charity@propelinfo.com

Premium Club subscribers to new UK Food & Beverage Franchisee Database on Friday: Premium Club subscribers will receive the latest Propel Food & Beverage Franchisee Database on Friday (17 October), at 12pm. The database will feature ten new entries, plus updates to existing entries, to take the total number to 270 and more than 109,000 words of content. The new entries include DFDS, a Danish international shipping company with 50 freight and passenger ships in the North Sea, Baltic Sea, and the English Channel, which in February 2025 partnered with Deep Blue Restaurants to roll out Harry Ramsden’s new “Proudly Serving” format to passengers travelling on its routes between Dover and Calais and Dover and Dunkirk. The new entries also include Directional Pizza, backed by US private equity firm Directional Capital, which acquired the UK Pizza Hut dine in restaurants estate from Heart with Smart Group after the latter went into administration in January 2025. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the New Openings Database, the Multi-Site Database, the UK Food and Beverage Franchisor Database and the Who’s Who of UK Hospitality. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers 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 subscribers 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 supplier. Email kai.kirkman@propelinfo.com today to sign up.

New report highlights emotional, social and economic value of UK hospitality venues: The emotional, social and economic value of UK hospitality venues – and the urgent need to protect them – has been highlighted in a new report. The report, “GO Technology: The social value of hospitality”, from hospitality technology provider Zonal, in partnership with CGA by NIQ and UKHospitality and based on a survey of 5,000 nationally representative British adults, showed 69% said hospitality plays an important role in their communities, and 74% agree the industry needs and deserves greater support from government. Meanwhile, 67% of respondents agree eating and drinking out is as important to their social lives as it was a year ago. When asking consumers about a local business that holds significance for them, 66% chose a hospitality venue. More than a fifth (22%) named a pub and 15% cited a restaurant. Cafes and coffee shops (12%) and bars (7%) were also deemed important. Factors that shape the connections and memories being made include “staff remember me” (32%), “being independent” (32%), “visiting being a tradition with family and friends” (27%), “it’s inclusive to everyone” (26%), “it has a great atmosphere/music I like” (25%) and “I have special memories from visits” (24%). Nearly three quarters (72%) of consumers agree the hospitality sector is a good local employer. Just 21% of rural residents said their high street has improved in the past year compared with 62% in urban areas. Tim Chapman, chief commercial officer of Zonal, said: “The report clearly demonstrates that what our pubs, bars, restaurants, cafes and hotels offer to people is so much more than just a plate of food and something to drink. That the majority of people are still prioritising going out, even as the cost-of-living crisis continues to bite, clearly demonstrates the true value of the hospitality sector.” Karl Chessell, business unit director – hospitality operators and food, EMEA at CGA by NIQ, said: “Consumers’ desire for their local venues to be protected adds extra weight to the industry’s urgent calls for targeted support.” UKHospitality chief executive Allen Simpson said: “With the right action from government, we can unlock hospitality’s full potential to regenerate high streets and strengthen communities nationwide.”

Fred Sirieix to rescue troubled hospitality businesses in new TV show: First Dates maître d’ Fred Sirieix is to head up a new four-part Channel 4 series, which will focus on fixing troubled hospitality businesses across the UK. The former general manager at Galvin at Windows in the London Hilton Park Lane will help “failing cafés and guesthouses drowning in one-star reviews to once-loved establishments struggling to survive”. He will bring with him a “powerhouse team of hospitality experts, each bringing their own unique skills to the table”. The series has the working title Fred’s Hotel Fixers. Sirieix said: “Times are super tough in the hospitality business. If you are running a hotel, B&B, country house, guesthouse, bar/restaurant or even a glamping site that needs a reboot, then I want to hear from you! With my crack team of experts, we will help inject new life and more importantly revenue into your business. There will be tough conversations and decisions to make but with some hard work we can help to turn your business around.”

Company News:

Exclusive – WatchHouse signs franchise deal for the UAE: Specialty coffee business WatchHouse is to open its first location in the UAE this month, after signing a franchise agreement with Big Belly Hospitality, an established operator in the region’s food and beverage sector. The new master franchise agreement for the region will begin with a six-month espresso-focused residency at Marsa Boulevard, a seasonal waterfront development along Dubai Creek, with four further sites to open in 2026 in the UAE. Roland Horne, chief executive and founder of WatchHouse, said: “Dubai has always been a city that marries ambition with taste, heritage with innovation, making it a natural step in our ambition to bring WatchHouse to a global audience. From the material palette to the menu, this WatchHouse is a love letter to what we do best, designed for a region that’s not just ready for modern coffee, but hungry for it.” Damon Conn, growth and business development director at WatchHouse, said: “We’ve always believed WatchHouse could travel, but only if it was done in a way that stayed true to the brand’s core beliefs. In Big Belly Hospitality, we’ve found a partner that shares our vision and values. This partnership is the result of months of collaboration and a shared ambition to bring modern coffee to life with purpose and precision. It’s the start of something meaningful.” Pallav Patel, managing founder at Big Belly Hospitality, said: “WatchHouse brings something different to the UAE: a thoughtful, design-led approach to coffee that feels both global and grounded. From the first conversation, we saw the potential to grow something remarkable here, and this launch is just the beginning.” Following the Marsa Boulevard opening, the franchise will expand across the UAE, with new locations launching at Abu Dhabi Equestrian Club and Saadiyat Grove in the first half of 2026. A permanent site in Dubai’s DIFC has also been signed, with one further site confirmed and set to be announced later in the year. The UAE launch builds on WatchHouse’s international presence, following openings in New York City – on 5th Avenue and in the Chrysler Building. Caroline Ottoy, managing director of WatchHouse, told Propel last month the business plans to grow to 100 sites within the next three years, including expanding its fledgling US estate to 25 outlets and having circa 40 franchised venues. The business currently operates 19 sites in London, one in Bath and two in the US. She said: “The US is our biggest growth opportunity for company-owned sites. There are other markets we’re looking at, such as Singapore and Qatar. We’re in heads of terms with a couple of other franchise partners.” Propel’s inaugural Franchisor Showcase, which will put the spotlight on ten up-and-coming food and beverage franchisors, takes place on Tuesday, 25 November at One Moorgate Place in London. This unique chance to explore exciting franchise opportunities is only open to operators and investors. For the full speaker schedule, click here. Tickets, which are £195 plus VAT, are available by emailing kai.kirkman@propelinfo.com

Valiant Pub Group CEO – ‘current trading ahead of expectations’, ‘actively developing higher-turnover pubs’: Valiant Pub Group, which was founded by Hawthorn Leisure co-founders Gerry Carroll and Mark McGinty at the start of 2021, has told Propel that its current trading has been ahead of expectations, helped by growth in its rooms and food offers. It comes as the circa 80-strong business, which is backed by Njord Partners, saw its total revenue increase by 63% to £29.6m in the year to 30 March 2025 (2024: £18.2m). McGinty told Propel: “Current trading has been ahead of expectations, which is really encouraging. We're seeing strong performance across the estate, supported by solid trading over the summer and continued customer demand. The mix of wet, food, and accommodation sales continues to strengthen, reflecting the quality of our pubs and the appeal of the communities we serve. Our pubs and inns with rooms are performing very well, and we now have more than 150 bedrooms across the estate. Alongside that, more than 60% of our pubs now offer food, which has become an increasingly important part of the customer experience and our trading performance. Developing pubs with food and rooms is a core part of our growth strategy – not a change of direction, but a natural evolution of the model. At the same time, we continue to see excellent opportunities in wet-led pubs, and will actively develop strong wet-led businesses where we can create great community pubs with character and individuality.” McGinty said that the business is also “actively developing higher-turnover pubs, with our average investment in acquiring and developing pubs recently averaging around £1.2m”. He said: “This approach reflects our commitment to acquiring quality businesses and unlocking their full potential through targeted investment and operational focus.” In the summer, the company secured a further £14m in debt financing. The funds, provided by Metro Bank, will help support the pub company’s growth plans. In February, Carroll told Propel that Valiant’s plan was to get to “200-300 pubs eventually”, and had noticed a spike in opportunities to acquire sites from independent operators post the Budget.

South African bakery brand Okja hires UK MD: Okja, the South African bakery and café brand, which made its debut in the UK last year, has hired Ben Bracchi, formerly of Blank Street Coffee and Pret A Manger, as its UK managing director as it plans further expansion here. Bracchi spent almost three years at Blank Street, including two years as director of operations. He spent 11 and a half years at Pret, including five years as an operations manager. Born in Cape Town, the plant-based Okja has been serving coffee and sweet treats from its bakeries since 2019. The brand was founded by Rui Esteves and Dave Chait, two serial entrepreneurs who have decades of experience building “exciting concept food brands”. The brand made its UK debut last year in London’s Spitalfields. Okja said it produces “proper plant-based pastries and dishes them up with some dazzling deliciousness”.

Joe & The Juice hires Graham Fenwick as UK operations director: Joe & The Juice, the juice and cafe bar brand, which operates circa 75 sites in the UK, has hired Graham Fenwick, formerly of PizzaExpress, as operations director for the UK & Ireland, Propel has learned. Fenwick spent 22 years at PizzaExpress, including for the past six years as its productivity and change director. He also spent three years as the brand’s regional operations director north UK and Ireland. Earlier this month, Joe & The Juice opened its first site in Africa, in Morocco – its 100th franchise store globally. Founded in Copenhagen in 2002, Joe & The Juice operated 397 stores in 20 countries globally at the end of 2024, and is aiming to grow to 1,000 stores globally within the next five years. In July, it was reported Joe & The Juice’s majority owner, General Atlantic, was exploring a potential US initial public offering of the brand as soon as next year.

Hook Norton Brewery MD – ‘governments seem addicted to inflicting even higher taxation, operating costs and regulation on the industry’: James Clarke, managing director of brewer and retailer Hook Norton Brewery, has said governments “seem addicted to inflicting even higher taxation, operating costs and regulation on the industry”. Clarke’s statement came in the company’s accounts for the year to 30 September 2024, in which the business reported turnover increased to £9,423,515 (2023: £8,997,559), with a gross profit margin of 40.9% (2023: 39.2%). Of the 2024 turnover, £9,268,365 came from the UK (2023: £8,825,064), £60,000 from Europe (2023: nil) and £95,150 from the rest of the world (2023: £172,495). The company, which also operates 29 pubs, said that with tight control of overheads, it recorded a profit before tax for the year of £589,786 (2023: £581,009). Clarke said: “Governments of whatever colour or complexion seem addicted to inflicting even higher taxation, operating costs and regulation on the industry, and are then surprised when productivity, investment and the wider economy are sluggish. They also seem increasingly deaf, if not oblivious, to the concerns of the wealth creating private sector. Changes to the inheritance tax regime for family companies such as Hook Norton also pose yet another massive threat. Increases in national insurance contributions by employers have added significant cost to all businesses, the increase in the national minimum wage is also significant, and again affects our entire sector.” During the year, the company suffered a “catastrophic” fire in the stables building at its grounds and visitor centre. While there were no injuries, Clarke said dealing with the disruption and aftermath “has clearly taken a lot of time and effort, but against this, the year saw reasonable trading”. Clarke said the brewery site facilities saw growth, but further plans for retail development were put on hold due to the rebuilding of the stables. He said the pub estate “performed reasonably well” and is “in good shape”, and that at the year end, it was seeking to dispose of its two sites without a leaseholder. A dividend of £51,174 was paid (2023: £37,928).

Neil Miller steps down as Itsu chief customer officer: Neil Miller has stepped down as chief customer officer at Itsu, the healthy Asian food chain created by Julian Metcalfe, after four years in the role. The circa 80-strong Itsu brought in the former McDonald's digital expert Miller to the then newly created chief customer officer role in September 2021. Miller, who previously worked for Samsung and Adidas, was tasked with developing and managing Itsu’s customer proposition, marketing and digital transformation. Miller spent the previous 25 years working in business leadership, digital transformation and e-commerce development. Last month, Metcalfe admitted the group made a mistake by adding too many self-service kiosks to its estate amid concerns over rising labour costs. He said Itsu “overdid it” and was in the process of removing screens from many of its sites. He said: “After Brexit, there was a real fear that the labour costs in this country were going to go to like £20 an hour. In fact, they haven’t gone to £20 an hour for many of us, but clearly the cost of labour is going up and up. So, we kind of overdid it, we put in too many screens, we’re taking many out. I think every single Itsu will be half screens and half tills.”

Matt Fanthorpe joins franchise platform Stack & Craft as COO: Matt Fanthorpe, formerly of Various Eateries, Ole & Steen and Jamie’s Italian, has joined Stack & Craft, a new investment platform looking to introduce US hospitality brands into the UK, as its chief operating officer, Propel has learned. Fanthorpe joins the new platform after six years as culinary director at Various Eateries, the Hugh Osmond-backed business that operates the Coppa Club and Noci concepts. Previous to that he spent a year as director of food at Ole & Steen, and six years at Jamie’s Italian, including three years as its chef director. On the new venture, Fanthorpe said: “This next chapter brings the challenge and energy of another start-up journey, one I’m hugely motivated by. At Stack & Craft, we’ll be bringing some exciting franchise brands over from the USA, building them into something unique here in the UK, and setting the stage for ambitious growth. The road ahead will demand pace, creativity, and resilience, all the things that make building a business from the ground up so rewarding. I’m looking forward to the journey and to seeing what we can achieve.” Propel understands that the new venture is backed by Ali Shekofti, founding partner of Accrete Capital – an alternatives investment platform.

Daish’s sees profit more than double but economic conditions hampering efforts to return it to pre-covid levels: Hotel and holiday operator Daish’s has seen its pre-tax profit more than double but said economic conditions are hampering efforts to return it to pre-covid levels. The company, which operates 12 hotels as well as offering coach holidays and themed breaks, reported turnover increased slightly to £31,900,678 for the year ending 30 September 2024 compared with £31,421,802 the previous year. Pre-tax profit grew to £730,745 from £354,390 the year before. Director George Brown stated: “The financial year saw better profits than the prior year as the directors continue to strategically reassess group operating protocols, but the continuing challenges of inflation, staffing shortages and higher interest rates continue to hamper a return to the profitability levels we saw pre covid (2019: pre-tax profit of £830,327). As such the main challenge is to get the group back to such profitability, which we intend to do by implementing our strategic changes over the next few years. Since the balance sheet date, the group acquired a new property in Weston-super-Mare. The group also completed the sale of Daish's County Hotel. These transactions reflect the group's strategic focus on optimising its hotel portfolio by focusing on locations that best reflect the demographic profile of its target market.” Dividends of £226,895 were paid (2023: £517,996).

Market Place to open flagship site in London’s West End: Food hall concept Market Place is to open a new flagship site in December in the heart of London’s West End. Market Place Leicester Square will take over a five-storey building beside the Odeon cinema, bringing “one of the largest and most ambitious food hall experiences the UK has ever seen”. The new venue will feature 16 independent kitchens, which will serve up “flavours from across the globe, each run by a different trader bringing its own signature style”. The venue will also comprise three stand-alone bars, and a dedicated events room, which will feature a huge screen showing the biggest sports games and major cultural moments. The weekly programme will also include comedy nights, live music and DJ sets. Blake Henderson, managing director at Market Place, said: “We started Market Place with one neighbourhood site in Peckham and in a few short years it has grown across the city. Leicester Square is the biggest leap forward yet. It is one of the most famous squares in the world and we are proud to bring our biggest Market Place yet right to the heart of the West End. This flagship is everything Market Place stands for – incredible food, great drinks, live entertainment and a space where Londoners and visitors can celebrate together.” Launched in 2020, Market Place opened a new 6,834 square-foot flagship venue in St Paul’s in May. Propel understands Market Place is also lining up an opening in Baker Street in the capital. The company is to make its regional debut in Manchester in 2027, after signing a 15-year lease to operate out of the ground floor of AM Alpha’s former Debenhams in the city’s Market Street. Market Place will occupy 14,000 square feet of the 300,000 square-foot office Rylands scheme.

Deckers reports 15% year-on-year increase in turnover but drop in profit due to inflationary pressures: Deckers Hospitality Group, which owns hotels and restaurants across Greater Manchester and West Yorkshire alongside a butchery, events and retail drinks business, has reported a 15% year-on-year increase in turnover for the year to 30 September 2024 but a drop in profit due to inflationary pressures. The company’s turnover rose from £34,852,695 in 2023 to £40,336,189. Of this, £6,282,539 came from hotel and pub operations (2023: £5,670,445) and £40,336,189 from wholesale operations (2023: £34,852,695). Pre-tax profit dropped from £274,000 in 2023 to £229,000, while Ebitda margin, excluding exceptional items, was down from 1.98% to 1.73%. Director Victoria Cosgrove said: “The group saw significant growth year-on-year, with a 15% increase in turnover. This was driven by a wider wholesale drinks customer base and strengthening route to market opportunities for suppliers. The Royal Toby hotel in Rochdale faced challenges from increased competition and a decline in the wedding market. However, the underlying trade remained strong, with customer experience feedback remaining high. Despite the strong sales growth and 6% increase in gross profit, the operating profit saw a small decrease to £522,074. This reflects the inflationary pressures on the cost base in particular on wages, power and fuel. These increases in costs could not be passed on in full to customers. The directors believe the disproportionately large cost increases due to inflation and market conditions are masking the improved trade and progression of the business.” Post year end, in March 2025, Deckers acquired Lancashire-based Young's Beers Wines and Spirits and its warehouses for a combined estimated consideration of £2.1m. Deckers financed the purchase via a £1.35m loan from HSBC, with the remainder from working capital.

Chinese noodle concept Liu Xiaomian to further expand in London with second residency with Bloomsbury Leisure: Liu Xiaomian, the concept from Charlene and Linda Liu, is to further expand in London with a second residency with Bloomsbury Leisure. Launched in 2017 to share the flavours of their home town in Chongqing in China, Liu Xiaomian opened its first bricks-and-mortar site, in Soho last year. The duo also have a residency at Bloomsbury Leisure’s Jackalope pub in Marylebone, which they are building on with an opening at The Stranded pub in The Strand from Friday, 14 November. The menu will include signature dishes such as Chongqing Xiaomian (wheat noodles) and hot and sour glass noodles. The Stranded, which was opened by Bloomsbury Leisure this summer, seats around 300 guests, with a dedicated 20-cover Liu Xiaomian dining area. “We’ve loved working with the team behind The Jackalope, and The Stranded feels like the perfect next step,” said Charlene Liu. “It’s a stylish new pub with vast amounts of seating in Central London. We are excited to get this pop-up off the ground and hit the ground running.” Linda Liu added: “Our noodles have always been about comfort, fresh ingredients, and a menu that’s accessible to everyone. We offer a range of dishes with varying spice levels. The Stranded gives us the chance to welcome even more Londoners into that experience this winter.”

Workshop Coffee to launch ‘academy’ concept next month: Workshop Coffee, the luxury coffee brand founded by James Dickson, is to open its first “academy” concept in London next month. The business is launching barista training venue and a flagship café in Eccleston Street, Belgravia, having previously agreed a deal with landlord Grosvenor. Dickson told Propel the concept was part of its new operational model and has been 18 months in the making. He said: “This move celebrates the juxtaposition of our luxury market positioning while also wanting to bring our specialty coffee drink and ancillary products to the famous and discerning Belgravia neighbourhood. With an elevated cafe on the ground floor, we aim to bring Workshop to the consumer in an unprecedented way by creating a dual experience that incorporates our new range of cafe products while at the same time providing access to the academy allowing consumers to delve into the world of ‘Workshop at Home’, which will comprise home espresso brewing and milk steaming, and filter brewing courses across a range of technologies.”

Chef Paul Askew opens first stand-alone site for seafood concept in former NWTC venue: Chef Paul Askew has opened a first stand-alone restaurant for his seafood concept Barnacle in a former New World Trading Company (NWTC) site in Liverpool. Last month, Askew acquired the former Florist site in the city’s Hardman Street, which closed last October as part of restructure of NWTC. Housed in the former Royal School for the Blind, the restaurant opened in 2018 but had been left dormant for the last year. Following on from Barnacle’s debut in Duke Street Market in 2021 and the current street food pop-up at the Royal Albert Dock, Askew has now opened the first stand-alone restaurant for the seafood concept. The site is led by head chef Kieran Gill and Askew, and “reflects Liverpool’s storied history as a port city and the culinary inspirations that have found their way here over time”. Askew said: “I always think of barnacles on the hulls of the great ships that once sailed to and from Liverpool and how all of this culinary knowledge ended up back here and evolved over the decades. This formed the founding principles of Barnacle when we launched in 2021 and it remains the cherished narrative we have to take Barnacle forwards in our new chapter.”

Berkshire hotel group reports drop in turnover and profit: Berkshire hotel group Nilvip Holdings has reported a drop in turnover and profit for the year to 31 July 2024. The company, which operates two hotels in Reading after selling its hotel in Bath for £3.2m in 2022, saw its turnover drop from £3,258,852 in 2023 to £3,185,523. The 2023 figure included £117,457 from discontinued operations. The company’s pre-tax profit fell from £4,314,693 in 2023 to £613,059. The 2023 figure included £3,221,686 from discontinued operations, without which it was £1,093,007. Net assets at the year end were £14.8m (2023: £14.4m) and no dividends were paid (2023: nil). Director Nilesh Patel said: “Our strategy of developing alternative revenue streams and a change in our customer base means we remain resilient through varying economic cycles. Continuing to evolve with changing consumer trends, we will expand further into both new and existing markets.”

Former The Palmerston baker to open second site for her solo venture this month: Darcy Maher, former baker at The Palmerston restaurant and bakery in Edinburgh, is to open a second site for her solo venture. Maher launched Lannan in Edinburgh’s Stockbridge in 2023, offering a weekly-changing menu of Maher’s signature bakes. Lannan will be joined by Lannan Pantry, a stand-alone retail and events space at 29-35 Hamilton Place, in the Scottish capital. Accessible by its own entrance next to the bakery, Lannan Pantry – which opens on Tuesday, 28 October – will be a “one-stop-shop for quality, seasonal produce” – all of which is used in the menu items at the bakery. The offering will change regularly to reflect the ingredients used by Lannan’s bakers, from forced Yorkshire rhubarb early in the year to Scottish asparagus come spring. Guests will be able to purchase grocery staples including fresh fruit and vegetables, local free-range eggs and butter, as well as bread from the bakery, dips, fresh pasta and sauces made in house. There will also be fresh meat and charcuterie and cheese, sliced to order. The Lannan kitchen has also been expanded to include an in-house butchery, where the team will produce sausages and bacon, as well as seasonal pastry specials such as sausage rolls, pork pies and terrines. Lannan Pantry will also feature a wine cellar, offering a curated selection of natural and biodynamic wine, as well as cider and beer. While Lannan Pantry won’t stock pastries and cakes from the bakery, the new venue will operate as the collection point for bakery pre-orders. Maher said: “We wanted to expand our offering beyond pastry, bringing the wonderful produce that we use in our products and pastries to our customers’ kitchens. The pantry will be for customers, but it’ll also support our kitchen and bakery – it will quite literally be our pantry, allowing us to take a zero-waste approach to both spaces.”

Independent Birmingham pizza restaurant to open second site: Independent Birmingham pizza restaurant Smoke and Ash is to open its second site. The company is launching in the former Poli pizzeria premises in York Road in Kings Heath, which closed last October. Smoke and Ash opened its debut site in Greenfield Crescent in Edgbaston in 2022. The family-run business has also been serving up fresh pizzas at street food events across the city as well as cooking dishes for guests at Birmingham Botanical Gardens. In a post on Instagram, Smoke and Ash said: “Kings Heath here we come. After many months of hard work, we're delighted to confirm we'll be opening our second branch in York Road in November. We've been looking for another location in Birmingham for a while and we think we've found the ideal spot. That means more of the same great Neapolitan style pizza, Italian Panuozzo sandwiches, quality wine and seasonal twists on classic cocktails – as well as a few new ideas that we've been wanting to try for a while.”

New mezcal specialist bar opens in London’s Stoke Newington: Sorbito, an agave spirits tasting room and bottle shop in Stoke Newington, has opened as the “newest stop on London's mezcal mile”. The first-of-its-kind mezcal destination from The Sin Gusano Project comes nearly ten years after the business said it kicked off the city's agave trail with pop-ups in Gillett Square and Haggerston. Named after the Spanish phrase for “little sip”, Sorbito invites guests to “discover mezcal in a completely new way”. The company said: “At the heart of the space are state-of-the-art dispensing machines, a technology usually found in wine bars reimagined here for agave spirits. With a preloaded tasting card, visitors can guide themselves around the room, sampling ‘a little sip’ from an ever-changing line-up of exceptional and often elusive bottles, most sourced directly from Mexico.”

Oxfordshire restaurant sold to experienced operator: The Whistlers Restaurant in Chipping Norton, Oxfordshire, has been sold to Marco Bodini, an experienced hospitality operator, who plans to refurbish and relaunch the business with a fresh new concept. Situated in the heart of the town centre, the independent bar and restaurant had built up a loyal following under the ownership of Nathan Phelps and Kerry Foley. After several successful years running the business, the couple have decided to move on to new projects. Bodini said: “I’m thrilled to be taking on Whistlers and bringing something new to Chipping Norton. It’s a beautiful town with a vibrant local scene, and I look forward to creating a space that reflects that energy and welcomes both locals and visitors alike.” Tim Widdows, associate director at Christie & Co, who managed the sale, said: “Whistlers attracted strong interest from a wide range of operators, which is a testament to the resilience of the market and the appeal of well-located, characterful sites like this.”

DropWorks exceeds crowdfunding target: Rum brand DropWorks, which was aiming to raise £450,000 through a crowdfunding campaign to support its growth, has exceeded its target and raised almost £500,000. The funds were raised from 295 investors, with £440,000 coming through the Crowdcube platform. Founded two years ago by Lewis Hayes, DropWorks is located in Sherwood Forest in Nottinghamshire. DropWorks’ rum is now present in more than 400 high-end venues across the UK. The funds will be used to expand into more premium pubs and restaurants and expand DropWorks’ distillery experience. DropWorks chief executive and former Diageo executive Graham Appleyard said: “As a start-up in its early years of trading, we were all, as a team, feeling the thrill and anticipation of stepping into the unknown and inviting people to invest in DropWorks. We've always believed deeply in the quality and unique appeal of our Drops, and as the investors began to pour in, it became even clearer that we are a brand that people want to be involved with. As we continue to grow, reaching and creating new rum-lovers all over the UK, this campaign was a great opportunity to offer shares to those who already connect with our passion for high-quality rum. To have exceeded our target is incredible, and we hope everybody that invested in DropWorks is as excited for the journey ahead as we are.”

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