Junkyard Golf Club exploring funding options, planning Birmingham and Vegas sites ahead of modest UK growth and aggressive US expansion: Sam Jones, managing director of Junkyard Golf Club, has told Propel the crazy golf brand is exploring funding options and planning sites in Birmingham and Las Vegas ahead of “modest UK growth and aggressive US expansion”. Propel reported last week that Junkyard Golf Club is preparing for a US launch and investing £2.7m in the six-strong business – most of which will be ploughed into its second London site, which is on course to open in Camden in July. “We’re looking to open another venue in the UK this year, in Birmingham, which we’re hoping to open by Christmas,” said Jones. “Then we’re hoping to open our first international site, in Vegas, by December 2024. With more funding, we could open two UK sites and go international by the year-end as we’ve got the capacity, but we don’t want to risk the core estate, so we’re exploring funding options and are in early talks with a suitable partner. We’re not selling equity, we’re looking to take capital in and expand. All our growth so far has been organic and we’re debt free, so how big we go depends on what route we take. We’re passionate about international expansion and there’s headroom for more opportunities in the US, where we see a more aggressive expansion as there’s a big gap in the market for what we offer – a young, loud, less serious and brash golf brand. We have a wish list of places like Nashville, New Orleans, Dallas, Austin and Houston, but we want to explore with one first, get it right, learn the market and grow from there. In the UK, we’ve looked at Edinburgh, Glasgow, Southampton, Bristol, Nottingham and Sheffield.” Although admitting the business was “definitely affected” by the festive train strikes and ongoing cost pressures, Jones insists it is better placed than many casual dining and bar concepts. “It’s the places where people pop in for a pint or a bite to eat that are suffering,” he added. “People still want to celebrate those big occasions and protect that spend. We’re a destination venue where people buy tickets in advance and commit to longer visits. We’ve retained our business but seen it moved to January or February.” It comes as Junkyard Golf Club reported turnover rose from £3,701,653 in 2021 to £18,397,277 for the year ending 31 March 2022. Pre-tax profits were up from £1,375,367 in 2021 to £7,532,345. Average employee numbers rose from 228 to 275 in the period.

One day to go before release of updated Premium Database of Multi-Site Companies, 51 businesses being added: A total of 51 new multi-site companies, operating 268 sites, have been added to the next edition of the Propel Premium Database of Multi-Site Companies, which will be released tomorrow (Friday, 27 January), at midday. The updated Propel Multi-Site Database, which is produced in association with Virgate, includes regional restaurant and bar operators, growing entertainment concepts, and expanding hotel operators. Premium subscribers will also receive a 3,200-word report on the new additions to the database. The comprehensive database is updated monthly and provides company names, the people in charge, how many sites each firm operates, its trading name and its registered name at Companies House if different. The database now features 2,769 companies. Premium subscribers will also receive the next edition of the New Openings Database on Friday, 3 February, at midday. It focuses on newly announced openings and upcoming launches in the sector and is updated every month. The next edition also includes a 12,000-word report on the new additions to the database. Premium subscribers also receive access to three other databases – the Propel Turnover & Profits Blue Book, the UK Food and Beverage Franchisor Database, and the Who’s Who of UK Food and Beverage, which was sent to Premium subscribers for the first time this week. 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.

UKHospitality – sector fuelling night-time economy but late-night levy must go: Nightclubs, bars, restaurants and cafes are responsible for 42% of customer spend after 6pm, the largest of those industries examined by the Office for National Statistics. UKHospitality said the figures show the sector remains a key employer, with 8.7 million people working at night, but the significant loss of workers over the past six years and the continued drain on turnover by the late-night levy is preventing venues taking advantage of high demand. Chief executive Kate Nicholls said: “This data shows how important the night-time economy is to communities across the UK; as a critical employer and its role driving footfall to towns and cities to visit our late-night venues. Hospitality is the main attraction in the night-time economy, with almost half of consumer spend taking place there, but there’s so much more we can do if barriers to doing business are removed. The loss of nearly a million workers from the sector just shows the pressure it is under. The late-night levy can be one of the main drains on business, costing venues £365,000 last year and stifling the sector’s recovery from the pandemic. Its introduction has been a failure and removing such an ineffective levy, which local authorities and a House of Lords committee both concluded has not been successful, would provide much-needed relief for affected venues. After a pandemic where late-night venues could scarcely open and now a cost-of-living crisis, we need to see a concerted effort by government and local authorities to back our night-time economy. Supporting positive measures such as the agent of change principle would be a great help to the sector, as would planning and licensing policies that recognise the benefits the late-night sector brings.”

Soaring food and drink inflation ‘putting sector into deeper jeopardy’: Soaring food and drink inflation is putting the sector into deeper jeopardy, UKHospitality chief executive Kate Nicholls has said. The latest CGA Prestige Foodservice Price Index released this week showed food and drink inflation for foodservice businesses reaching a record high of 24% last month. December 2022 also marked the 11th consecutive month of double-digit inflation. “The central food and drink element of hospitality means this level of inflation puts the sector yet deeper into jeopardy,” said Nicholls. “It’s another in a series of price increase across all fronts of operations and businesses will have no choice but to pass it on to customers. That will make it harder for the government to deliver on its key commitment to reduce inflation across the wider economy. This simple economic fact underlines the importance of government investing in and supporting the sector to help keep our prices as low as possible if it wants to achieve its target of halving inflation. We recognise public finances are tight, but an injection of support into hospitality can repay the cost many times over through the additional sales it creates, the growth this generates and the jobs it can offer.”

UKHospitality boss meets with Ofgem over energy suppliers’ behaviour, bills set to rise on average by almost £4,500 for London businesses: UKHospitality chief executive Kate Nicholls has met with Jonathan Brearley, chief executive of energy regulator Ofgem, to discuss ongoing concerns about the behaviour of energy suppliers towards sector businesses. Nichols said the meeting was “very constructive and positive”. She tweeted: “Looking forward to engaging further as part of Ofgem’s evidence gathering ahead of its report to ministers and to giving evidence to the Business, Energy and Strategy Committee inquiry on this issue next week. This is a top campaigning area for UKHospitality consistently over last year.” Meanwhile, London hospitality businesses are facing the prospect of an almost £4,500 rise in average annual energy bills once government support is slashed, analysis from the Liberal Democrats has found. The current rate of support for businesses, introduced in September, will be lowered in April, to be replaced by a new discount scheme until the end of March next year. This means many pubs, cafes and restaurants will see a 90% cut in help from the government, the Lib Dems claim. Businesses in the City are set to be worst affected, with 260 pubs, restaurants and cafes each facing an average bill increase of £5,278 a year, reports the Evening Standard. City of London is closely followed by Westminster, where nearly 1,500 businesses will see an average £5,172 increase, followed by Kensington & Chelsea (£4,810), Camden (£4,660) and Hackney (£4,560). Lib Dem MP and Treasury spokesperson, Sarah Olney, said: “London’s hospitality businesses are facing a cliff edge this year. Our pubs, restaurants and cafes have endured so much already, people will be devastated to see any more harm to our local high streets. The government needs to give businesses not just in the capital, but across the UK, the support they need to endure this energy bill catastrophe. Liberal Democrats are calling for it to intervene and think again about this change – if it doesn’t we could see thousands of businesses, including pubs, restaurants and cafes going bust. This could rip the heart out of our communities.”

Michelin adds 24 restaurants to its 2023 Great Britain & Ireland guide: A further 24 restaurants have been added to Michelin’s 2023 Great Britain & Ireland guide ahead of its annual launch ceremony in March. Among them are London venues The Twenty Two and Roji in Mayfair, Maria G’s in Kensington, Pophams in London Fields and Cycene in Shoreditch. Elsewhere in England, Allium at the Vices in York, The Spärrows in Manchester, Coarse in Durham, The Castle Inn in Chippenham, Fletcher’s in Plymouth, Tutto in Brighton, The Brasserie MS in Folkestone, The Suffolk in Aldeburgh, The Angel Inn, in Stoke-by-Nayland, Land in Birmingham, Where there’s Smoke in Masham, The Dial House in Reepham have been included.  There are two new Scottish entries – Amuse in Aberdeen and North Port in Perth while in Northern Ireland there are three additions – Blank in Belfast, Fontana in Holywood and Artis in Londonderry. Meanwhile in the Republic of Ireland, The Bishop's Buttery in Cashel and Terre at the Castlemartyr Resort are included. 

Job of the day: COREcruitment is working with an event company that is seeking an executive chef. A COREcruitment spokesman said: “You must have experience in leading large kitchen teams within high volume, quality event catering operations. You will be resilient, creative, and innovative, have a fantastic eye for detail and be up to date with food trends.” The salary is up to £90,000 plus bonus and the position is based in London. For more information, email amber@corecruitment.com

 

Tim Martin – far more people now drinking at home rather than pubs, Peel Hunt warns business facing circa £50m increase in energy costs from October: JD Wetherspoon chairman Tim Martin has said far more people now drink in their homes rather than in pubs as the company’s sales still lag behind pre-pandemic levels. The company said like-for-like sales surged nearly 18% over the last three months of 2022, when compared with the same period in 2021. However, sales still remained 2% lower than the equivalent period in 2019. Martin said: “The aftermath of the pandemic and lockdown restrictions have been far more difficult than anyone thought. That is the picture for the whole pub and restaurant industry. People thought that after lockdown there would be a boom in people suffering from cabin fever but, instead, it has almost been the opposite situation as people have got in the habit of staying in. That’s the big thing that means sales are down on 2019. Things are improving now but it’s slow. We have been trading for a long time and have got very good pubs, which has some benefits. But, I wouldn’t say we’ve shot the lights out. At this stage, we might be a little ahead of the pack, but there are others who might be doing better than us.” He also warned the industry will “inevitably shrink” relative to supermarkets if it does not campaign strongly for tax equality. Meanwhile, Peel Hunt leisure analyst Douglas Jack has revised his forecasts for Wetherspoon to factor in a potential increase in energy costs after the current fixed contract ends in October, which could put an extra £50m per annum on its bill. He said: “We are cutting our forecasts to reflect recent like-for-like sales going backwards (versus 2019) and to assume just half of the energy cost increase materialises. Energy prices have been volatile, falling recently, and could provide opportunities for Wetherspoon to lock-in costs at better levels. Booking half the exposure to energy costs is sufficient to take 35% off our 2024E profit before tax forecast. With the estate contracting and like-for-like sales weakening to being minus 2% versus pre-pandemic levels over the past 12 weeks after price rises, there is little to offset higher labour, food, energy and maintenance costs.” Wetherspoon share price was down 6.18% at the close of trading following the update.

Ping Pong chain was sold for £3.2m, administrators reveal: Ping Pong, the London dim sum chain, was sold for £3.2m, Propel has learned. Propel revealed in November that Ping Pong had been sold to its existing management team, led by Art Sagiryan, via a pre-pack administration. The business, which comprised of six restaurants in the capital, and its assets were sold to AJT Dimsum, an entity newly set up that will continue to be chaired by James Horler. A statement of administrators report by Begbies Traynor revealed the sale total as £3,210,000 and described the circumstances surrounding their appointment. It said: “The company previously had a run rate turnover of circa £13m-£14m from seven restaurant sites. Turnover was slightly lower at just over £12m in the last financial year, which was partly attributable to one of the restaurants being closed for an extended period in 2021 due to flood damage. The company recorded trading losses of £1.4m and £1.86m in the 12 months to March 2020 and March 2021 respectively, returning to profitability in the year to March 2022, recording a profit of £334,000. At various points since the company’s incorporation, the business has been supported by funding provided by the founder of the brand, Igor Sagiryan, through the company’s former parent, Ping Pong Group International (PPGI). The company’s liability to PPGI totals just under £11.3m. The business survived through the pandemic utilising the Coronavirus Job Retention Scheme, and having been provided with a £500,000 bridging loan from PPGI. However, many existing employees returned to their home countries and decided not to return post pandemic. The company also built-up significant levels of rent arrears. Following the pandemic, the cost base throughout the company’s supply chain put growing pressure on margins. In addition, increases in staffing costs, operating costs, transportation and the weaker GBP/US exchange rate all significantly impacted the business.” It added with arrears owing to landlords having built up to significant levels, the directors sought to negotiate, and constructive discussions were held in most cases, with concessions agreed with five restaurant landlords, as well as negotiating an exit from the Westfield Shepherds Bush lease. However, some landlords took a hard-line approach and, in one instance, took the position that it would accept nothing less than the full rent with no concession, failing which it would present a winding-up petition following the expiry of the temporary moratorium on enforcement of covid period arrears in September 2022. By this point, agreements had also not been reached in respect of two other sites, and the directors sought professional insolvency advice.

BrewDog to roll out pioneering mental health and well-being programme in industry first: Scottish brewer and retailer BrewDog is rolling out a pioneering new mental health and well-being platform to its 3,000 staff across the world. The business has partnered with mental health and well-being company Happence and is the first business in the drinks and hospitality industry to offer the programme. Built by industry experts, including psychologists, cognitive behavioural therapists and neuroscientists, the platform will provide BrewDog staff with a personalised holistic “Pathfinder” well-being programme, supported evidence-based content and courses. BrewDog staff will also benefit from support from the Happence team of neuroscientists and experts. Karen Bates, group people director at BrewDog, said, “We’re thrilled to launch this pioneering programme to every crew member all over the world. This is one of many investments we have made across our HR, people and culture teams under our new ‘Blueprint’ and we are immensely proud we now have 149 trained mental health aiders within the business.”

Coyote Ugly set for second London opening ahead of further UK roll out, Spain and Dubai sites also in pipeline: Coyote Ugly is set to open a second London bar ahead of a further UK roll out, with sites in Spain and Dubai also in the pipeline. The US bar brand made its London debut last summer with an opening in Camden Market – its first UK opening in three years and fifth here overall. Work is now underway to convert a 6,200 square-foot space in Shaftesbury Avenue, under the Zedwell Hotel, into a new Coyote Ugly, the brand which was the inspiration behind the hit movie of the same name. Previously a large souvenir shop, the new bar will open this spring following a deal headed by Steve Lewis, chairman of the Breaking Brands group, with fellow directors Nick Taplin and Caroline Wilce. The 350-capacity ground floor venue will hold a 3am licence, the first granted in the West End for more than 25 years, and will open from 8am for breakfast. Lewis said: “Piccadilly is one of London’s busiest areas and is ideal for a bar like Coyote Ugly. As a brand, we will be opening more sites both in the UK and abroad, which dovetails with our ambitious plans to open a lot more venues across the world.” Work is currently underway on two new overseas projects, in Spain and Dubai. Founded in the early 1990s in New York by Liliana Lovell, Coyote Ugly now has more than 20 bars globally. Breaking Brands specialise in bringing emerging, established and its own brands to new territories and currently has operations in Asia, Europe, the US, the UAE and the UK. Coyote Ugly features in the Propel UK Food and Beverage Franchisor Database, which is an exhaustive guide to the companies offering a food and beverage franchise in the UK and is available exclusively to Premium subscribers. The latest edition features 170 companies and almost 80,000 words of content, providing insight on the offer, locations, cost and other key details. The database is updated every two months. 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.

Wagamama to open first Florida site next month: Wagamama, The Restaurant Group (TRG)-owned brand, will open its first site in Florida next month. Wagamama currently has six US restaurants – three in New York City, two in Boston and one in Atlanta – under a joint venture partnership it entered into in 2020. The new 4,200 square foot restaurant will be at 1050 Water Street in downtown Tampa and was due to open in early 2022 but will now do so on Saturday, 11 February. Wagamama entered into a partnership with Conversion Venture Capital as financial partners and Robert Cornog Jnr and Richard Flaherty as operating partners, as part of a joint venture to aid its growth in the US. Under the terms of the agreement Cornog Jnr and Flaherty assumed majority ownership and lead operations of Wagamama’s existing US business as part of a 20:80 joint venture partnership, with TRG as minority partner. TRG retains the option to repurchase the remaining 80% of the business starting in 2026.

Indoor climbing experience set to make London debut ahead of further UK expansion: Indoor climbing experience Parthian Climbing is set to make its London debut this summer ahead of further UK expansion. The four-strong brand, which has sites in Reading, Southampton, Harrogate and Manchester, will open a 25,000 square-foot state-of-the-art climbing experience at Southside Shopping Centre in Wandsworth. The space will also include a 2,000 square-foot 60-cover café, bar and co-working space, while completing the offer will be a strength and conditioning gym and a specialist climbing shop. Parthian Climbing Southside will also be the first indoor climbing facility in the UK to include an exact replica of 'The Titan', the bouldering wall which will feature at the Paris 2024 Olympic Games. The launch will mark the first opening in a new programme of expansion for the brand, as it seeks to “open in select sites around the country”. Chief executive John Dunne, who founded the business in 2004, said: “Parthian Climbing Southside is going to be a unique experience. Our relationship with EP Climbing has enabled us to create a new concept that will appeal to all levels and abilities, with The Titan putting us on the map as a global climbing attraction while also embedding Parthian Climbing in the local community. This is a key moment for Parthian Climbing and the whole team is committed to creating something exceptional.” Southside landlord Landsec has also recently introduced into its portfolio Hangloose, the UK’s fastest zipwire, at Bluewater, and, F1 Arcade, a racing-themed experience, at One New Change in St Paul’s. Stárka Property acted for Parthian Climbing and Colliers represented Landsec.

Michelin-starred chef Claude Bosi to lead F&B offering at The Peninsula London: Michelin-starred chef Claude Bosi will lead the food and beverage offering at The Peninsula London when it opens at Hyde Park Corner later this year. Bosi, who heads up the two Michelin-starred London restaurant Claude Bosi at Bibendum, has been named chef director of Brooklands, one of several restaurants which will open at the hotel. Brooklands, inspired by the classic eras of British aviation and motorsport, including an overhead scale model of the iconic Concorde, will offer contemporary European cuisine. Canton Blue, the hotel’s innovative Chinese restaurant, will be led by chef Dicky To. It will spread across several levels, including ground-floor bar Little Blue, an intimate drinking destination with a menu inspired by flavours from the East. The Lobby restaurant will offer signature Peninsula afternoon teas and all-day dining classics, soundtracked to live music, and also opening will be grab-and-go concept store The Peninsula Boutique & Café. Parent company Hongkong and Shanghai Hotels have had The Peninsula London in the pipeline since 2015. The brand is already present in ten cities including New York, Paris, Tokyo and Beijing and will open in Istanbul next month. Clement Kwok, managing director and chief executive at Hongkong and Shanghai Hotels, said: “We are excited to introduce The Peninsula London to the world. As a long-term investor and owner operator, this represents a significant milestone and achievement for our group.”

ETM Group and Maven Leisure owner offers hospitality workers 50% discount on train strike days: Owner of ETM Group and Maven Leisure, Ed Martin, is offering anyone who works within the hospitality sector 50% off on train strike days at all 15 of the group’s venues across London. Martin said: “We’re all in it together, and we want to recognise how every single member of the hospitality sector (whether employed by us or not) works tremendously hard. Our staff receive 50% off on all food and drinks and we’re thrilled to be able to match it on those strike days and make things that little bit easier for anyone working tirelessly to make London one of the most entertaining and hospitable cities in the world.” Hospitality workers will need to show their payslip to a member of the team.

Michelin-starred team behind Flawd in Manchester set to open second site in city: The Michelin-starred team behind restaurant and bar Flawd in Manchester is set to open a second site in city. Higher Ground, a British bistro from Richard Cossins, Joe Otway and Daniel Craig Martin, which was previously a pop-up concept, will open in Faulkner Street, on the edge of Manchester’s Chinatown, on 18 February. Using produce from its own market garden, the 50-cover restaurant will feature counter seats overlooking an open kitchen and offer both an ala carte and sharing menu. These will change on a daily basis depending on the season, and ingredients will be sourced from the north west, with a focus on organic, small-scale agriculture and small herd, whole carcass cookery. The wine list will focus on small-scale, low intervention winemakers from around Europe, alongside cocktails and beers. Cossins said: “We’re now over three years into our journey of owning a business and we’re only just about to launch our first full scale restaurant. The most exciting times are without doubt to come, and we look forward to contributing even more positively to the city of Manchester.” Cossins has previously worked with chef Otway – formerly head chef at Stockport’s Where The Light Gets In and Michelin-starred Relae in Copenhagen – at Blue Hill at Stone Barns in New York, which held two Michelin Stars. The duo, along with Martin, have run Flawd on Islington Marina in Ancoats for just over a year.

Northumberland operator acquires Newcastle tea house: Northumberland operator Stuart Young has acquired a Newcastle tea house for his Northumberland Restaurant Company. The group is set to breathe new life into Quillam Brothers Teahouse at Eldon Place, which closed in 2020. The building, on Newcastle University’s campus, will re-open in February as Claremont Tea House, selling a range of signature teas as well as brunch and lunch items. The Northumberland Restaurant Company is one of a family of businesses which includes the Northumberland Pub Company and Kennedy and Rhind, and is co-owner of Lovage in Jesmond and Novellos in Washington. It recently acquired the DotBagel outlets in Newcastle under its Kennedy and Rhind banner. Young, who owns the Northumberland Restaurant Company and its sister brands, said: “We have a proven track record of running high end cafes and producing amazing baked goods. The recent takeover of DotBagel has allowed us to expand our offering as well as growing the number of sites we have, and the Claremont Tea House will give us another strong foothold in the city. We’ll be able to offer a really exciting and extended range of products and it will also mean that we are bringing back to life a great venue, right on the university campus and in a busy city centre location.”

Boujee closes remaining site: Boujee, the north west bar and restaurant concept, has closed its remaining site, in Chester. The Pepper Street venue, which was bought in a pre-pack administration deal in October, has shut following a lengthy “uphill battle” in which the business faced “numerous constant hurdles”. Cheshire Live reported it has seen two emails sent to staff confirming the permanent closure of the site after less than 18 months. The first email makes reference to the reasons behind the “tough decision” to cease trading. It states “chefs walking out, increasing costs, lack of customers/bookings” all contributed to the venue's plight. The email said: “January is always a very tough time for hospitality however as we all know it has been an uphill battle with Boujee for a very long time.” A second email confirmed the permanent closure of the venue that opened in November 2021. At the time of the pre-pack deal, which saw one of the founding directors, Minesh Parekh, acquire the Chester outlet, Boujee shut its Manchester site having closed its Liverpool venue three months earlier. A report issued in December showed the business had owed more than £3.5m when it collapsed into administration.

Former Claridge’s chef set to follow second site with further regional openings after partnering with tech entrepreneur: Former Claridge’s and River Cafe chef Nick Grieves is set to follow the launch of his second site with further regional openings after striking a partnership with a technology entrepreneur. Propel reported last April that Grieves, who opened The Patricia in Jesmond in 2016, would open neighbourhood French bistro Ophelia in Gosforth. The venue, located in the former M Steel Cycles shop at 6-10 Bowsden Terrace, which closed in 2017 after 120 years, is set to open this week, offering 34 covers as well as nine in an adjoining bar area. Ophelia will be the first venue to open through a new partnership between Grieves and Dan Smyth, who have founded the GRDY Restaurant Group together. Smyth, who founded gaming studio Bede Gaming in 2012, growing it into a multimillion-pound turnover business before exiting the company following a takeover in 2020, had been a frequent diner at The Patricia. He bought the former cycle shop 18 months ago and has invested more than £500,000 to create Ophelia. The immediate plans include the opening of a neighbouring 35-cover ‘greasy spoon’ called Cafeteria, due to open in March, and from there, the pair have identified several buildings for other concepts, which could bring on board other emerging businesses. “Even now we are looking at a few other venues in the Gosforth and Jesmond area that we might start to make plans to expand late this year, early next year,” Smyth told Chronicle Live. “Potentially, we might be able to have three, four, five venues if things go well over the next three to four years.” Grieves added: “The idea with the group is not necessarily me running a load of restaurants – we’re keen to search out talent in the area who have good pop-ups and street food businesses and need a bit of investment and guidance.”

Cinema operator Vue to name Bacardi chief Stella David as new chair: Cinema chain Vue International will this week name a former Bacardi-Martini executive as its new chair. Sky News reports that Stella David, who holds boardroom roles at companies including Entain, the owner of Ladbrokes, and Domino's Pizza Group, has agreed to replace Robbie Barr as Vue’s chairman. An announcement is likely to be made this week. David has had an extensive career in consumer-facing businesses and will join Vue as it completes a debt-for-equity swap designed to place it on a sustainable long-term financial footing. Vue operates 227 sites in nine countries, including the UK, Germany, Italy and Taiwan. Tim Richards, Vue’s founder and chief executive, said David’s “deep understanding of the consumer environment and strong track record of delivering growth, will be invaluable at this crucial moment for the business and our industry, and as we look to seize the opportunities that lie ahead”. David added: “Over the past 18 months we've seen huge pent up demand for the cinema experience and – with lots of fantastic films set for release later this year – it’s a pivotal moment for the industry.”