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Morning Briefing for pub, restaurant and food wervice operators

Thu 11th Aug 2016 - Sky News – The Restaurant Group to replace Danny Breithaupt, Enterprise and Oakman joint partnership opens first site
Sky News reports The Restaurant Group to replace Danny Breithaupt: Sky News has reported that The Restaurant Group is to dispense with the services of its chief executive Danny Breithaupt after less than two years in charge. Sky sources claimed that Andy McCue, who stepped down as the chief executive of Paddy Power after its recent merger with Betfair, was the likely successor. McCue has been without a full-time role since departing the merged gambling group in April, although leisure industry sources said that other executives could also be logical candidates for the role. The Restaurant Group said in April that it was launching a review of its operating strategy, including its property portfolio, programme of site openings, brand positioning and overheads. It added that it would update the City on the review when it reports interim results later this month, although that is now likely to be delayed following the appointment of Breithaupt’s successor. In April, it announced the departure of its finance director Stephen Critoph. Barry Nightingale, a former finance chief at the airline Monarch, was named as his successor. The Restaurant Group, which operates more than 500 sites, has warned investors that this year’s profits are to be no higher than £80m. Despite a partial recovery, the shares have still lost close to half their value over the past 12 months.

Enterprise and Oakman joint partnership opens first site: Hunky Dory Pubs – the new “managed expert” partnership between Enterprise Inns and Oakman Inns – will open its first site today (12 August). The Beech House in Solihull has undergone a £1.2m joint investment from Enterprise and Oakman and features a city garden with terraces and pergolas. The 660 square metre site features a mix of solar and low-energy lighting, while the outdoor areas have been designed to produce a sense of “mystery and enchantment”. Inside there is a theatre-style open kitchen complete with Josper charcoal oven, which is at the hub of the Mediterranean-style menu offered across the Oakman portfolio. One of five managed expert collaborations within Enterprise’s estate, Hunky Dory Pubs was formed only three months ago. Enterprise Inns chief executive Simon Townsend said: “The opening of our first Hunky Dory site marks an important milestone in the development of our managed expert model. We’ve worked closely with Peter (Borg-Neal) to find the right venue and create the perfect retail offer to ensure the business will thrive.” Oakman Inns chief executive Peter Borg-Neal added: “We are delighted to get the first Hunky Dory site open and I am confident The Beech House, Solihull, will be a huge success as our first-class team of people and excellent concept provide all the ingredients for a compelling consumer offer. We were presented with a great building to work with and I believe we have managed to make the best of it.” Borg-Neal said Hunky Dory had identified four further sites and were working alongside Enterprise to identify several more. Enterprise has four other pubs under its managed expert model, all operating under the Hippo Inns brand, its first managed partnership with Rupert Clevely, founder of Geronimo Inns. Further pubs are expected to open in the coming months under the Mash Inns partnership with Laine Pub Group and through the Frontier Pubs venture with Food & Fuel. Enterprise expects to have ten pubs trading under its various managed investments relationships by 30 September.

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