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Thu 22nd Sep 2022 - Exclusive: Brewhouse & Kitchen set to appoint advisers as it assesses options
Exclusive – Brewhouse & Kitchen set to appoint advisers as it assesses options, trading ahead of pre-pandemic levels: Brewhouse & Kitchen, the UK's largest brewpub operator, is set to appoint advisers as it assesses its options, Propel has learned. Brewhouse & Kitchen is considering a number of options as it “decides the best way forward” including looking at attracting fresh investment and a potential refinancing. Chief executive Kris Gumbrell said given the uncertainty of the economic landscape, the group would look at all avenues, but stressed the company was in “great health” with trading ahead of 2019 levels. The 23-strong group is also set to add to its portfolio as it finalises the acquisition of a new freehold site while its venue in Angel, north London, will close for about two years while the landlord redevelops the site, which will include a revamped Brewhouse & Kitchen pub. “Coming out of covid there’s been a lot of pressures on the business but we’ve developed and we’re in a very strong position,” said Gumbrell. “We’ve got plenty of cash in the bank, with reserves still in place from a rights issue in 2020, low levels of debt and very supportive shareholders. Now we’re looking at what is the best way forward is – do we put our foot down or is it better to batten down the hatches? There’s no firm plans so we will have those discussions with advisers and then as a business decide what is best. I’m content with where we are trading wise this year – we’re now concentrating on making sure we have a good Christmas. We’re on target so far with festive bookings, but of course hope to ramp that up over the next month or so.” Brewhouse & Kitchen has introduced two new deals – a burger and an own-brewed craft beer for £10.95 between Monday and Wednesday and a “Hoppy Hour” where customers can be an own-brewed beer for £3.95 between 4pm and 7pm from Monday to Thursday. Gumbrell said both deals had been “going like a rocket” while last week 47% of the draught beer it sold was own brewed – a company record. Gumbrell spoke after Brewhouse & Kitchen reported turnover of £9,416,861 for the year ending 25 September 2021 versus £10,169,675 the previous year as the pandemic continued to interrupt trading. The business reported a pre-tax loss of £1,885,844 compared with a loss of £1,787,191 the year before. Brewhouse & Kitchen is included in Propel’s Turnover & Profits Blue Book, which is updated monthly for Premium subscribers and now features 619 companies. The Blue Book, which is produced in association with Mapal Group, provides a five-year overview of turnover and profit and ranks companies according to turnover, pre-tax profit and profit conversion. The Blue Book also provides details of directors’ earnings and highest paid directors. 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 to sign up.

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