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Tue 19th Jul 2022 - Propel Tuesday News Briefing

Story of the Day:

Roux Waterside Inn reports record pre-tax profit, plans culinary school and museum dedicated to founder Michel Roux: Roux Waterside Inn, the three Michelin-starred restaurant in Bray founded by the late Michel Roux in 1972, has recorded a record pre-tax profit of £1,564,729 (2020: £273,135) for the year ending 31 December 2021. It also recorded turnover of £6,107,156 (2020: £3,477,000). The group put this “excellent result in such an extraordinary year” down mainly to “a combination of strong demand and the reduced VAT charge on sales”. It also noted that contributions came from the group’s business interruption insurance, revaluation of investment properties and the auctioning of some of its wine stock. The group, which celebrates its 50th anniversary this year, has also acquired an adjacent freehold property which it plans to turn into offices, a culinary school, video studio and museum-library dedicated to its founder, the late Michel Roux. Another major acquisition, on the final day of the period (31 December 2021), was Roux at Skindles, a brasserie and cocktail bar in nearby Taplow which was also previously owned and developed by Roux. “Following his death in 2020, and the very difficult operating environment arising from the pandemic, it was felt appropriate to acquire the business from the Michel Roux estate,” the group said. “This would allow us to secure that business’ future and its fine reputation. No operational activities for 2021 from Roux at Skindles have been consolidated into the group figures, though the balance sheet at the year-end reflects the acquisition moving forward into 2022.” The group received £518,570 in grants (2020: £541,091) and £399,852 in insurance claims (2020: £250,000). It also noted concerns going forward over staffing challenges, rising costs and the difficult UK economic outlook, which “may well lead to lower demand for restaurants”. It added: “In short, there are uncertain times ahead, but the Roux brand and reputation, our experienced management and the strong group balance sheet should significantly reduce our risks moving forward.”
 

Industry News:

Sponsored message – Hospitality Rising hits almost 200 investors: The team behind Hospitality Rising would like to thank the scores of sector companies that are already backing the campaign. The initiative aims to unite the industry and create the biggest sector recruitment advertising ever seen. Not listed below? What’s stopping you? Supporters include Athenaeum Hotel, B&K Leisure/Boys Hall, Balans, Barhil 2021 trading as Ceru, Benugo/Reunion des Gastonomes, Black Rock Restaurants, Boxhedge, Brakspear, BrewDog, Brindisa Kitchens, British Beer & Pub Association, Buzzworks, Cafe Allez!, Calcot, Castlebridge Hospitality, Chaakoo (St Vincent Street), Cheshire Cat Pubs & Bars, Cheval Collection and Chilli Mint trading as Westbourne Hove. The campaign has raised £700,000-plus and is now in the creative planning phase and aims to launch nationally in September, with a flood of support still coming in. Back Hospitality Rising today from just £10 per employee here. If you have a sponsored story you would like to see featured in this newsletter position, email paul.charity@propelinfo.com.
 
20 companies added to third UK Food and Beverage Franchisor Database, released on Friday: A total of 20 companies expanding in the UK and abroad will feature in the third UK Food and Beverage Franchisor Database, which will be sent to Premium subscribers on Friday (22 July), at midday. The third edition will feature 140 companies and almost 60,000 words of content, providing insight on the offer, locations, cost and other key details. The new additions are: Shakeaway, Auntie Anne’s, Dallas Chicken, Harry Ramsden’s, Little Caesers Pizza, Puccino’s Coffee, Mary Brown’s Chicken, MooBoo, Bubbleology, Rassam’s Creamery, Little Dessert Shop, Groovy Moo, Zocalo, Burger & Sauce, AJ’s Piri Piri, Dooh Ponto, Basilico, Ocean Basket, Chop & Wok and Chunky Chicken. Premium subscribers also receive access to The New Openings Database, the Propel Multi-Site Database and the Turnover & Profits Blue Book. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. Subscribers also receive access to Propel’s library of lockdown videos and Friday Wrap interviews and now also have access to a curated video library of the sector’s finest leaders and entrepreneurs, offering their insights on running outstanding businesses in the sector. Premium subscribers also receive their morning newsletter 11 hours early, at 7pm the evening before our 6am send-out; regular video content and regular exclusive columns from Propel group editor Mark Wingett.
 
Job of the day: COREcruitment is working with a wholesale company that offers retail and online options that is looking to appoint a managing director. A COREcruitment spokesman said: “They will be responsible for managing production, retail stores, e-commerce business-to-consumer operations and spearheading company expansion, offering invaluable insight in how to improve the business operations throughout. The role will have full accountability for the business P+L and will involve working closely with board members while mentoring senior members and leading the team.” The salary is up to £120,000. For more information, email mikey@corecruitment.com
 

Company News:

Berkeley Inns sells two sites to RedCat, plans London opening: Berkeley Inns, the award-winning, Derbyshire-based gastropub operator, has sold two of its five pubs to RedCat Pub Company, the investment vehicle from ex-Greene King chief executive Rooney Anand, as it plans further expansion in the Midlands and a move in to the capital, Propel has learned. Berkeley Inns, which was founded in 2014, has sold The Meynell Ingram Arms in Hoar Cross, Staffordshire, and The Cock Inn in Mugginton, Derbyshire, to the circa 120-strong RedCat. The Meynell Ingram Arms Hotel was re-opened by Berkeley Inns in 2019 after being closed for more than five years, and the property has undergone a “major but sympathetic refit and redesign”. The Cock Inn was reopened in 2016 having been extended and much renovated. The pub has over 120 dining covers and serves up to 2,000 freshly made meals per week. The sale of the two pubs leaves Berkeley Inns with the Horseshoes in Long Lane Village, Derbyshire; The Cow at Dalbury Lees; and the Bluebell Inn in Kirk Langley. Howard Thacker, managing director of Berkeley Inns, said: “We acquired the Meynell and Cock Inn when both had been closed for five and ten years respectively, and following much renovation and extension, gave them new life. Both are now fantastic and bustling pubs serving their local communities and visitors from afar. So, of course, we’re very sad to see them leave the Berkeley Inns family, but are confident RedCat will do a fabulous job continuing or surpassing their current success. Berkeley Inns will now seek new acquisitions in the Midlands and London area and continue to grow the business.” Propel understands that the company has formed a new division to create a London-based group and has acquired its first site, which it hopes to open by the end of this year. In May, Berkeley Inns secured £3.22m to enable it to refinance existing high-cost external loans and acquire the freeholds of three of the pubs it operates. Anand, executive chairman of RedCat Pub Company, said: “RedCat continues to go from strength to strength, and I’m pleased we’ve added The Meynell Ingram Arms and The Cock Inn to our growing portfolio. The team is continuing to source high-calibre sites in excellent locations as we build out our estate of leading pubs and pub hotels.” The sale was brokered by Neil Morgan of Christie & Co, acting on behalf of RedCat.

Benugo narrows losses as it reports trading showing ‘encouraging recovery’: Benugo, the operator of deli cafes and catering in high-profile venues such as the Natural History Museum and the Victoria & Albert Museum, has narrowed its losses as it reported trading is showing an “encouraging recovery”. Turnover increased to £40,982,000 for the year ending 29 December 2021, compared with £33,699,000 the year before. Benugo saw a pre-tax loss of £1,464,000, compared with a loss of £8,863,000 the previous year. Last week, Benugo opened a new concept store at St Pancras International, which it plans to roll out at other major transport hubs. Benugo managing director Matthew Thompson told Propel: “Benugo is currently trading well on the whole. We have seen encouraging recovery across much of the business and have been fortunate to open sites such as St Pancras and Abba Voyage, which have both proven to be successful and demonstrate routes for future growth in those markets. While revenues are strong, we face the same challenges as the wider industry in terms of cost of goods inflation and availability of staff, but we are aware of the challenges and continue to focus huge energy on addressing them, particularly through our efforts to develop, train and retain our team as they drive everything at Benugo. We believe we are now well placed to grow in both our existing business and via new opportunities in markets where we can make an impact.” In their report accompanying the accounts, the directors stated: “For the periods where they were available, we continued to make use of the various UK job support schemes to preserve as many jobs as possible. Claims of £4.5m were passed on to our team members (2020: £16.3m). A total of £1.6m of external advisory fees has been incurred by our parent organisation, the WSH Group, to ensure full compliance with scheme rules. During 2020, the business took advantage of HM Revenue & Customs’ (HMRC) offer of VAT and PAYE deferrals. Due to our strong financial recovery the total deferral plus interest was fully repaid prior to 2021 year end and thus in advance of the repayment plan agreed with HMRC.” At the end of the period, net assets stood at £25.1m (2020: £26.5m. Cash and cash equivalent was up to £2.2m from £1.5m the previous year. The company reported a total of £5,217,000 in tax borne or collected by Benugo, compared with £8,821,000 the previous year. 
 
Joseph Holt returns to profit after receiving almost £6m from government: North west brewer and retailer Joseph Holt has reported a return to profit after receiving almost £6m from the government. The company reported a pre-tax profit of £3,729,000 (2020: £1,922,000 loss) for the year ending 31 December 2021, on turnover of £41,486,000 (2020: £34,253,000). While turnover increased 21% on 2020, it is still down 40% on pre-pandemic levels. The company received £3,225,000 in government grants during the period (2020: £1,673,000), and £2,649,000 through the Coronavirus Job Retention Scheme (2020: £4,519,000). It said: “These results are after taking into consideration much needed government support by way of job retention scheme, closure and restart grants, business rates relief and reduced VAT on food and non-alcoholic drinks. Since reopening fully in July 2021, the company has consistently traded strongly while generating positive cash flows. This has continued into 2022.” It added having a strong freehold property base is “fundamental to the company’s ability to survive the toughest of times”. The company’s banking partner, with which it renegotiated a £22m banking facility over five years in December 2019, has also made a further £5m facility option available “should the need arise”.
 
Starbucks set to close ‘many more’ stores over ‘health and safety’ concerns in leaked video footage: Starbucks will be closing “many more” stores, chief executive Howard Schultz has revealed in leaked video footage. The company announced the closure of 16 stores across the US last week because of health and safety concerns, and according to the video they will not be the last. The video footage of an internal meeting at Starbucks was initially obtained by conservative Canadian blog, the Post Millennial, and shows Schultz talking about the issues facing his employees, concluding “this is just the beginning” and there will be “many more” Starbucks store closures to come, including profitable stores. “It’s shocked me that one of the primary concerns our partners have is for their own personal safety. […] We’re facing things the stores were not built for,” Schultz said, adding the major safety concerns are issues of homelessness, drug use and crime in and around many Starbucks stores. Schultz goes on to blame local government leadership that has “abdicated its responsibility in fighting crime and addressing mental illness” for many of the health and safety issues and said “we are going to have to transform and modernise” to meet changing needs of the customers. The video footage did not give more details on what those changes might be. A Starbucks spokesman confirmed the video footage was authentic and was part of a larger, regular staff meeting as a follow-up to the letter sent announcing the imminent store closures. “We regularly open and close stores and we’re always looking for better ways to serve customers,” the spokesman added. Starbucks union SBWorkers United claimed the closures were a response to the growing union movement spreading across the country but the Starbucks spokesman clarified the company is working hard to assure that employees will be relocated to nearby stores.

SFG Club opens second site under Birdies concept, plans five further London sites ahead of national expansion: SFG Club, which operates competitive socialising venue Roof East in Stratford, east London, has set out plans for further expansion after opening the second site under its Birdies brand. Nick Frow, co-founder of Birdies Angel, said five further London sites are planned ahead of expansion into the regions, which will then add a further 20 venues. “Opening Birdies Angel is a huge milestone for us,” said Frow. “It’s our first venue in north London and marks the beginning of our expansion plans for Birdies. Alongside Angel, we have plans for a further five London sites over the next three years, and plan to take Birdies nationally, with 20 additional regional sites beyond our London plans. We can’t wait to get our new north London visitors in the doors to experience the brilliant atmosphere at Birdies, and show them what all the fuss is about.” Propel revealed in January that the crazy golf experience, street food eatery and cocktail bar concept would be doubling up with an opening in Angel Shopping Centre, Islington. The focus of the 5,558 square-foot site is a nine-hole course featuring an array of immersive obstacles, illusions, and bold colours. The food and drink offer, available from a coral pink bar in the centre of the venue, includes cocktails, beer, wine, and soft drinks alongside street food brand Cheeky Burger, which caters for vegans, vegetarians, and meat-eaters. The launch of Birdies at Angel Central follows the openings of fried chicken brand Pelicana and speciality corn dog concept Myungrang Hotdog there. CBRE represented Angel Central.
 
Park Chinois makes £4.7m loss, retains delivery offer following lockdown success: Park Chinois, the Chinese restaurant in Mayfair formerly headed up by Wagamama founder Alan Yau, made a £4,664,910 loss for the year ending 27 March 2021 (2020: profit of £1,468,854) having received £2,305,564 in grants. Revenue fell from £13,012,372 to £1,825,826 due to the covid-19 enforced lockdowns. It received £2,284,446 (2020: nil) from the Coronavirus Job Retention Scheme and a further £21,118 (2020: nil) Retail, Hospitality and Leisure Grant Scheme payment from Westminster Council. However, during later lockdowns, the restaurant remained opened for takeaway services, commencing in October 2020 with Deliveroo and Supper, and with Slerp being added two months later. “Our takeaway service continued during both the second and third lockdown periods despite the restaurant being closed for table service, and now forms part of our general offering having proved itself to be such a success,” the company said. In the autumn of 2021, the venue introduced a new nightly (Wednesday to Saturday) cabaret show inspired by Shanghai dining clubs of the 1930s.
 
Yolé and Wok&Go master franchisee plans to open both concepts under one roof in east London: Milad Nawaz and Salman Qureshi, master franchisees for no-sugar ice cream and frozen yogurt brand Yolé and Chinese noodle takeaway bar Wok&Go, plan to open both concepts under one roof in east London. The pair, who are both former Subway franchisees, became Wok&Go master franchisees in 2019 before signing up for Yolé’s UK launch last year. Having since opened five Yolés in London – with plans to take it to the rest of the UK – Nawaz and Qureshi will later this year open a store in Shoreditch that will be half Wok&Go and half Yolé. They have also expanded the Yolé menu to include sugar free bubble waffle and bubble bites and are planning to add more hot drink options, including coffee and a sugar free bubble tea. Nawaz said: “We’re very proud of how we’ve been able to open five stores in our first year, despite the continued uncertainty in the hospitality sector due to covid. Each new opening has gotten a great response from the locals, and we look forward to expanding outside of London to take our brand all across the UK.”
 
Harvey’s reinstates staff bonuses and dividend payments as profits return closer to pre-pandemic results: Lewes brewer and retailer Harvey & Son has reinstated staff bonuses and dividend payments with profit figures now closer to pre-pandemic results. The company said it anticipates continuing to expand its portfolio of managed pubs, having opened its latest – The Maris & Otter in Brighton at the end of last year. Harvey’s reported turnover increased 34.4% to £15,366,539 for the year ending 31 December 2021, compared with £11,446,749 the year before. It saw a pre-tax profit of £1,928,250 compared with a loss of £162,267 the year before. The company stated: “With profit figures more closely comparable with the company's 2019 pre-pandemic results, it is pleasing Harvey’s can reinstate both dividends and staff bonuses proportionate to this recovery. Beer production volumes have broadly mirrored the recovery equating to 65% of 2019 volumes. E­commerce activity continued to do well, retaining most of the new volumes established over the lockdown. A number of pub development schemes along with more than a dozen decorative projects were suspended over lockdown. These need to be rescheduled depending on priority and taking into account post-covid innovations for 2022. It is anticipated Harvey’s will continue to expand its estate of managed houses.”
 
German Doner Kebab appoints new chief marketing officer: German Doner Kebab (GDK), owned by Hero Brands, has appointed Dr Thorsk Westphal as its new chief marketing officer. Prior to his arrival, Thorsk has had 20 years of experience in senior marketing roles at Yum! Restaurants International, Reckitt Benckiser and L'Oréal. At Yum!, he played a key role in driving the growth of KFC in Germany, Switzerland, Austria and Denmark as well as the strongest new product launches in KFC Germany’s history. Westphal’s appointment comes amidst GDK’s plans to open 106 new restaurants globally during 2022. The brand now has more than 130 restaurants worldwide. Imran Sayeed, chief executive of GDK International, said: “Thorsk has consistently delivered commercial results throughout his career and has experience driving growth in the food and beverage industry. He will be instrumental in our international expansion plans having worked across the world and will further reinforce GDK as a game-changing brand.” Westphal added: “GDK’s global ambitions perfectly aligns with the type of scale-up work that I really enjoy carrying out. I cannot wait to help push the brand to the forefront of the global market as the fast-casual brand of the future.”
 
Cirrus Inns ‘remains cautious over London market recovery’, refinances £8.5m loan: Cirrus Inns, which owns 19 freehold pubs and five long leaseholds, has said it remains cautious about the recovery of the London market. The company refinanced its £8.5m loan with Metro Bank in April having extended it for six months in October 2021 to help support its recovery from the pandemic. The loan amount remains the same but with a six-year term, and repayments starting after the first 12 months. The loan continues to be secured on the properties held by the group, with interest is charged at 4.1% plus base rate per annum. A report accompanying its accounts for the year ending 27 June 2021 said: “The group remains cautious in its forecast and in particular recovery of the London market. The forecasts reflect the fact the group refinanced its existing debt structure in early 2022 by converting all preference shares to common equity and re-financing the loan facility, which was due for repayment in April 2022, for a six-year term. The new capital structure has left the group with a sustainable level of debt and strengthened the balance sheet position to enable future growth. The shareholder loan of £3m is due for repayment in August 2022 and the group is forecast to have sufficient cash flow to repay this overdraft facility.” The accounts showed a £4,088,540 pre-tax loss (2020: £5,838,145 loss) on turnover of £9,858,133 (2020: £16,043,574). The company received £2,400,105 (2020: £1,736,859) in government grants and £935,182 (2020: £145,000) in local authority grants. During the various lockdowns, the group “undertook a strategic review and made significant changes to strengthen the business operating model”, as well as investing in its bedrooms and beer gardens. It has also put in place competitive incentive schemes, training programmes and development opportunities to help with staff retention, and recruited a procurement specialist to manage the risk of inflationary pressures. Since the year end, the group has sold two of its pubs for a total of £1.85m, and disposed 75% of its investment in Epicurean Club, and its indirect investment in The Epicurean Times, earning proceeds of £2,070,000.
 
JD Wetherspoon set to invest £2m opening pub in Kenilworth: JD Wetherspoon is set to invest £2m opening a new pub in Kenilworth, Warwickshire, The former Poundland in The Square is set to open as a pub, subject to planning consent and a premises licence being granted, following the deal brokered by property consultants Wareing & Company. Wetherspoon will occupy all of the ground and first floor of the building, comprising 5,500 square foot on each floor. The pub is expected to create 60 jobs. The building had been used as a Poundland store prior to it being closed in January 2020 and has remained unoccupied since. Wetherspoon spokesman Eddie Gershon said: “We are delighted to have purchased the site. We have enjoyed great success in the region and hope that our investment will act as a catalyst for other businesses to invest in Kenilworth.” Last week, Wetherspoon chairman Tim Martin told Propel the business expects to open 15 pubs in its next financial year, which begins next month.
 
Reel reports audiences back to pre-covid levels in 2022, five new sites in pipeline: Independent cinema operator Reel has reported audience levels have returned to pre-covid levels in 2022, with five new sites in the pipeline. The first of these, in Farnham, Surrey, is due to open later this year – taking the company’s estate to 17 sites – and will be followed by venues in Kirby, Bishop Auckland, Ashington and Burnley. The return of audiences to pre-covid levels in 2022 followed a 75% “surge in attendance” for the period ended 30 December 2021. This was helped by a delayed roster of 2020 scheduled films, and “customer-friendly pricing structures” starting at just £2.50. The company reported a £31,649 pre-tax loss (2020: £2,312,626 loss) on revenue of £8,461,667 (2020: £3,103,098) for the year to 30 December 2021. It also received £2,745,827 in government grants (2020: £1,846,826). The company said: “A further £500,000 through the Coronavirus Business Interruption Loan Scheme was obtained in addition to £3.5m received in the prior year. This additional loan has helped us to trade through this incredibly difficult period. This should enable us to return to profitability during this period and generate positive cash flows. The largest grant available to the group was the Governments' Coronavirus Job Retention Scheme and funding from the British Film Institute as part of the Culture Recovery Fund for Independent Cinemas in England. While the environment we find ourselves remains difficult, we believe the business will be in a strong position in the future to be able to continue the roll out of its strategy of operating state of the art multiplex cinemas.”
 
Urban Pubs & Bars to open first Salt Yard Group site under its ownership this week, at Westfield London: London operator Urban Pubs & Bars will open a new site under its Salt Yard Group brand on Thursday (21 July), at Westfield London. Opening on the southern terrace of the West London leisure destination, the site will be the fifth restaurant in the group and first since Urban Pubs & Bars acquired the brand in November 2018. Another Salt Yard opening is also set for later in 2022. Salt Yard Westfield will be serving a menu of small plates celebrating the flavours, traditions and ingredients of Spain and Italy. As well as a bar and restaurant, Salt Yard Westfield will also be home to an enclosed terrace area where a large olive tree takes centre stage. The menu at Salt Yard Westfield will include braised lamb breast, rosemary scented cannellini beans & wild garlic; and charred octopus with arroz negro and saffron alioli as well as a curated selection of charcuterie and cheese. Drinks will feature a selection of signature cocktails, wine from Italy and Spain and a range of spritzes. Nick Pring, founder and director of Urban Pubs & Bars, said: “The opening marks Salt Yard Group’s first restaurant in west London and the first Salt Yard opening since the group became part of the Urban Pubs & Bars family. We’re excited to welcome people in and bring some Spanish and Italian flair to the area.”
 
Team behind Jidong bubble tea chain opens food market in Liverpool: The team behind the Jidong bubble tea chain has launched Renshaw Street food market in Liverpool, with a curated selection of outlets. Jidong have decided it is time to make a move into expansion to include other, carefully selected food and beverage specialists. Jidong, based in China, now has more than 3,000 stores globally, having opened its first UK outlet in 2019. As well as Jidong Bubble Tea, Renshaw Street Food Market has international brands including Dagu Rice Noodle, ZX Fresh Fried Chicken and Ndo Sushi. The food market is also playing host to a range of cuisines from across the world, including Italian, Turkish and Thai. Director of the Renshaw Street food market, Jie Hu, said: “The market is in such a key location and our warm, welcoming, easy atmosphere will provide the perfect setting for everyone.”
 
Hotel group Sandman returns to profit, expects to return to pre-covid level results in 2022: Hotel group Sandman returned to profit in the year ending 31 December 2021 and expects to return to pre-covid level results in 2022. The company, part of Northland Properties UK, currently operates hotels in the UK under its Sandman Signature brand – in Aberdeen, Newcastle and Gatwick – and earlier this month acquired the former Quays Hotel in Sheffield off a £10m guide price. It reported a pre-tax profit of £901,752 (2020: loss of £1,476,926) off turnover of £6,791,778 (2020: £3,711,659). The company received £284,470 from the Coronavirus Job Retention Scheme (2020: £398,491) and £152,899 in other government grants (2020: nil). It also reported an occupancy rate of 58% during 2021, with an average room rate of £98. “The company considers the business to be in a strong position considering the impact the covid-19 pandemic had had, and continues to have, on the hospitality industry,” it said. “The company is optimistic on the future and continues to assess opportunities for new hotels to manage.”
 
Greggs opens Leicester Square flagship site: Food-to-go operator Greggs has opened a flagship site in London’s Leicester Square. The company has said the shop will offer “local delicacies such as London Cheesecake and Tottenham Cake”, as well as its regular selection of baked goods. Greggs plans to open circa 150 new sites over the next year, taking the total number of Greggs across the UK to just under 2,500. Greggs has upped its presence in London over the past year, with new openings in Canary Wharf, Paddington, St Pancras station, Kings Cross, and The Strand, as it looks to take advantage of more favourable rental levels in the capital. A Greggs spokesman said: “The opening of our new flagship shop at 1 Leicester Square is a huge moment for Greggs. The excitement has shown this iconic location will be a success to both Greggs fans, and new customers alike.”
 
Joël Robuchon International secures second London site for deli concept: Joël Robuchon International has secured a second site for its deli concept in London. The original Le Deli Robuchon opened in Piccadilly in December 2019. As revealed by Propel last month, the business, which also operates Le Comptoir Robuchon at the Clarges Street development in Mayfair, will open a second Le Deli Robuchon in Chelsea, at 279 King’s Road, below the Everyman cinema. Le Deli offers a “casual yet sophisticated” all-day dining space with eat-in and takeaway options plus a patisserie. There is also a selection of products available to buy, while the off-site boulangerie offers fresh pastries, sandwiches, salads, afternoon tea, and cheese and charcuterie boards. Robuchon, who died in August 2018, was the most decorated chef in the history of the Michelin Guide, at one time holding 32 stars. The openings heralded a return of the Robuchon name to London after L’Atelier de Joël Robuchon closed in 2019. Brandon Elmon, of Genius1Group, acted for the landlord, and Dean Gambles, of Dean Gambles & Co, acted for the tenant on the King’s Road deal.
 
Korean food and culture hub concept Oseyo secures Kingston site: Korean food and culture hub concept Oseyo is to add a further site to its growing London-based estate, with an opening in Kingston. The company, which already operates six sites in London and one in Manchester, is to open in the former Game store site in Clarence Road. Propel revealed in May that a second regional site, in Petty Cury, Cambridge, and a further site in the capital at the Battersea Power Station development, were planned. At the end of last year, Oseyo opened a site at Hammersmith Broadway shopping centre in west London. The business also has sites in Soho, Camden, Tottenham Court Road, Angel and Waterloo. The sites feature traditional Korean cuisine, a fresh ingredients section, and a Korean pancake station as well as non-food including Korean cosmetics, K-pop albums, stationery and Korean household appliances such as talking rice cookers.
 
Tortilla adds Coventry site to openings pipeline: Tortilla, the fast-casual Mexican restaurant group, which on Monday (18 July) reported a 19% increase in like-for-like sales in the six months to 3 July 2022, has added a site in Coventry to its regional openings’ pipeline. The company will open later this year on the former Kanoo Foreign Exchange store site in the city’s Cathedral Lanes. The 84-strong business will open its latest company-owned site in the UK in Lincoln’s Exchange Square next month. It also has an opening lined up in Silver Street, Durham. The business recently opened sites in Portsmouth’s Gunwharf Quays and Birmingham’s Victoria Square. During the six months to 3 July 2022, the company opened a further six sites: Bath, Cheshire Oaks, Bournemouth, Portsmouth, Birmingham New Street, and a delivery kitchen in Maida Vale. SSP Group also opened a Tortilla site in Bristol airport and the company commenced a franchise partnership with Compass Group with four sites trading. It said that all new sites are performing well and in line with expectations since opening. 
 
New York-inspired bar and eatery to open in Warrington after founders raise £500,000 of investment, plans to expand over coming years: New York-inspired bar and eatery concept Parlour will open its debut site, in Warrington – with plans to expand over the coming years. Parlour is the brainchild of directors James Wrigley and Warrington-native Tom Buckley, who have joined forces to bring their collective hospitality and finance experience together to form Parlour Bar and Eatery. The business partners have raised more than £500,000 of private investment including from three local investors to support the launch. Parlour will open a 3,869 square-foot site at the £142m Time Square development. The concept is centred around New York-style 22-inch pizzas, burgers and salads paired with beer, cocktails and wine, and also offer coffee, tea, smoothies and brunch. There will also be live music, DJs and a constantly changing programme of events. Wrigley has more than 15 years of experience within the hospitality sector, previously owning numerous bars and launching several new venues and concepts across Greater Manchester. Buckley has a rich family history working within the hospitality industry and has a wealth of financial knowledge working within owner managed businesses as a qualified accountant. Time Square has been delivered by Warrington & Co on behalf of Warrington Borough Council, with Muse Developments appointed as development manager. Metis Real Estate Advisors acts on behalf of Warrington & Co and Muse Developments.
 
Mexican street food concept to go from pop-up to permanent in London: Mexican street food concept Taca Tacos is going from pop-up to permanent in London. Taca Tacos is opening the site on Friday (22 July) in Deptford Market Yard, with the offer focused on the beef birria – a six-hour braised brisket in a rich secret blend of spices and chilli. Taca Tacos has been making its name for the past three years at a weekly spot at Brockley Market, as well as various other street food events, pop-ups and residencies across London. The concept was created in 2019 by Thorne Addyman after being inspired by trips to California. The restaurant will have indoor seating for 20 and an outdoor area seating 30. Also on the menu will be nachos, quesadillas and California-style burritos. The drinks offer will include beer and cocktails.
 
Bristol property let to Zizzi and Coffee#1 sold for £5.4m: A property in Bristol let to Zizzi and Coffee#1 has been sold for £5.4m after a competitive bidding process. An institutional client completed the sale of 29-33 Princess Victoria Street, Clifton, to West End Investments, with the sale price reflecting a net initial yield of 4.54%. Situated in the heart of Clifton Village, alongside the Azzurri Group-owned Zizzi brand, and the Caffe Nero-owned Coffee#1, the property is also home to a student accommodation operator. Ian Lambert, of Hartnell Taylor Cook, acted on the deal.

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