Wagamama – Strategic initiatives delivering significantly improved volume performance, hires new CMO: Wagamama, The Restaurant Group-owned brand, has said that the strategic initiatives it introduced during the first half of last year are delivering “significantly improved volume performance”. Updating bondholders on the circa 165-strong brand’s third quarter performance, 13 weeks to 28 September 2025, the business said it had since seen a “significant improvement in dine-in volume performance over the last six months with current trading in quarter (Q4) in positive volume growth of 2%” (over the 11 weeks to 14 December). The company saw a step-up in value initiatives from Q2 2025 with “strong success” from Blue Light platform and its £12 lunch menu. The business reported a 0.4% decline in like-for-like sales in the third quarter, which it said was in line with the market. The company said that its like-for-like sales were impacted by investment in value initiatives from Q2 onwards, and that this was having an impact on spend per head in the short term, with “more pronounced impact expected in Q4 (reflecting all initiatives implemented)”. It said that the spend per head impact from value initiatives are expected to fully annualise from Q3 2026. At the same time, the business said that customer brand metrics in its NPS score, employee turnover and value for money scores were showing “continued strength”. It said that its US business was currently loss-making (approximately £3.5m loss in year-to-date), due to investment in central costs as “we set up the business for profitable future expansion” It currently operates seven sites in the US, where it has completed detailed consumer research and analysis. It said that the business is working at pace to implement changes to its US business. Last summer, Wagamama made its debut in India, opening its first location in south Mumbai, in partnership with K Hospitality, one of the country’s leading food and beverage operators. It said that site “continues to trade ahead of expectations”, and that it is planning for two to four additional sites this year. It expects to open eight to 12 new franchise sites in 2026, including entry to “several new regions with new partners”, and to open five to six new openings across the UK & Ireland in 2026. At the same time, Propel has learned that the brand has hired Claire Farrant as its new chief marketing officer. Farrant joins Wagamama after a year and a half as vice president of mobility and convenience Europe at BP. Prior to that she spent eight years as marketing director at Lidl UK. She replaces Emma Colquhoun, who joined Wagamama earlier this spring as its chief marketing and commercial officer.

Tigermilk CEO Alexis Melikov among speakers at 2026 Restaurant Marketer & Innovator European Summit, open for bookings: Alexis Melikov, chief executive of Tigermilk, will be among the speakers at the 2026 Restaurant Marketer & Innovator European Summit. Melikov will share the story of bringing the brand from Paris and Brussels to London. He will reveal the strategy behind localising the concept, designing photogenic spaces and launching with a bang in a hyper-competitive market. Restaurant Marketer & Innovator European Summit is returning for its eighth edition, and tickets are on sale. The event is a partnership between Propel and Think Hospitality, aiming to build a community, promote the sharing of ideas, recognise talent and define the future of eating out. Bookings are open for the two-day conference as the centrepiece of the January event series, taking place on 20 and 21 January at Hilton Bankside in London. A bigger venue allows for a dual-stage format, meaning more content than ever before. The conference will focus on technology, marcomms strategies, propositions, brand building, the latest market insights, digital developments and diversification of revenue streams. It is designed for customer focused chief executives, senior marketers, technology and innovation teams, as well as investors wanting to better understand the latest marketing, innovation and development opportunities to build market share and grow. For the full speaker schedule, click here. A one-day ticket for operators is £320 plus VAT while a two-day ticket is £575 plus VAT. Supplier tickets are £950 plus VAT for the two days. Propel Premium Club subscribers receive a 20% discount. To book, email: rmi@propelinfo.com.

Increased costs forcing operators to make tough decisions around staffing: Pubs have been left grappling with surging costs after last year’s £26bn National Insurance tax raid on employers, forcing them to make some tough decisions around staffing. “We’ve decided against employing university students this year, which historically we’ve done to fill the gaps during the summer months and at Christmas,” Garry Mallen, of multi-site operator GC Mallen, told The Telegraph. “You try to restrict the hours where you’ve got staff coming with not so much to do. We pride ourselves on our service and training staff, because that’s how you make yourself better than everybody else, but the cost of the wages is almost at breaking point.” Mallen, who has run pubs for 40 years, explains that he has also decided to reduce opening hours at two of his bars to achieve cost savings. “The national minimum wage went up 6.7% this year; the youth wage has gone up 8.5%. There is no incentive for us to employ young people,” he adds. Figures from UK Hospitality show that since April, around 65% of hospitality businesses have reduced hours available to staff to cut labour costs, and half have reduced the number of staff employed. These twin forces – a reduction in opening hours and an increase in underemployment – point to a growing trend across industries as businesses seek to reduce labour costs. Michael Kill, the chief executive of the Night Time Industries Association, said the increase in labour taxes has put “severe pressure on the night-time economy”. “Non-revenue-generating roles, such as security and cleaning, are often being cut or brought in-house, leaving salaried managers and landlords to pick up the work themselves. Many businesses have been forced to operate with a workforce stretched to the bone,” Kill added.

Job of the day: COREcruitment is working with a hospitality collective that is searching for a senior marketing manager. A COREcruitment spokesperson said: “The business is looking for a visionary creator, natural connector, and hands on executor to lead the marketing operation into 2026. Working closely with senior leadership, the senior marketing manager will own strategy, drive execution, and deliver bold, industry-leading campaigns across a diverse portfolio of venues.” The salary is up to £52,000 and the position is based in London. For more information, email gemma@corecruitment.com.

Exclusive – Professionals at Play promotes Ben Turnock to MD to support continued group expansion, secures Dublin site: Professionals at Play – the Foresight-backed, parent company of the Roxy Lanes, Roxy Ball Room, King Pins and Star Pins concepts – has promoted Ben Turnock to managing director, as the group continues its rapid expansion across the UK and Ireland. Having worked closely with founders Matt Jones and Ben Jones since 2020, Turrock formally joined Professionals at Play in 2023. Since joining the group, the company said he has played a central role in strengthening its financial, commercial and operational functions during a period of sustained growth. Most recently serving as finance director, his remit has progressively expanded to include operational delivery and strategic execution. Over the last year, Professionals at Play has continued to scale at pace, growing the estate to 27 venues across the UK, with its most recent opening at King Pins Castle Lane, Belfast, last month. Further expansion is planned in 2026, with at least five new venues expected to open, including announced sites in Edinburgh (King Pins), London Holborn (Roxy Ball Room), Dublin (Roxy Ball Room), Glasgow (Roxy Ball Room), alongside the conversion of a Roxy Lanes site in Liverpool to a Star Pins in January. Matt Jones, chief executive of Professionals at Play, said: “Over the past year, the scale and complexity of our operations have grown significantly. Ben has played a pivotal role in laying the foundations for this growth, and his appointment as managing director ensures strong continuity as we continue our expansion across the UK and Ireland.” The company’s debut site in Ireland is scheduled to open in the second quarter of this year in Dublin. The new Roxy Ball Room will take up 12,000 square feet at Central Plaza – about 200 yards away from The Temple Bar.

Prezzo Italian anticipates 2025 Ebitda to exceed £3m, confirms Jamie Oliver agreement allows for up to 40 sites: Prezzo Italian, the Cain International-backed business, now operating under the Brava Hospitality Group umbrella, anticipates that its Ebitda will have exceeded £3m in 2025, as it confirmed that its development agreement with Jamie Oliver Group allows up to 40 sites to be opened over an initial ten year period. It also confirmed that the agreement also includes the exclusive rights to airports and any further concepts that are launched by Jamie Oliver in the UK. The first Jamie’s Italian site under the new deal will open in Leicester Square next month, on the former Mod Pizza site in Irving Street. The company said it was eyeing 40 more Prezzo Italian refurbishments this year after 12 were refurbished in 2025. Shareholders injected £3.5m into the business in November 2025 to fund the new stage of refurbishments and fund new sites this year. An overdraft facility with Barclays was also increased to £3m. Last year saw two sites exited and new sites open in Edinburgh, Rugby and Kingston on Thames. The company reported sales of £92.6m in the year ended 29 December 2024 (2023: £110.4m). It lost £2.9m compared to a profit of £9,219,000 the year before. Adjusted Ebitda was £720,000 down from £2,400,000. There were 96 Prezzo locations at the end of the year, down from 97 in a year that saw 51 closures. It said: “The full year impact of the operational changes and investments made during 2025 is expected to result in significantly enhanced profitability in 2026. The shareholders remain confident in the business growth prospects over the coming years and have rebranded the holding company to Brava Hospitality Group to support future acquisitions and multi-brand development, leveraging the strength of the management team.” The company stated that after James Brown became chief executive in November 2024 he restructured the head office team to generate £2m of annual savings. Last year, Ann Eliott joined the board as non-executive director “bringing a wealth of industry expertise”. 

Pure – Ended 2025 with all parts of the business in growth, enters new year with strong momentum: Pure, the healthy food-to-go concept, has said it ended 2025 with all parts of its business – retail, catering and wholesale – in growth, and that for the “first time in five years, the risks and uncertainties that the company faces are starting to diminish”. The company, which operates 13 sites and five catering hubs, said that 2024 and 2025 had seen the transformation of Pure from a multi-site to a multi-channel business. For the year to 31 December 2024, its turnover stood at £23,552,820 (2023: £22,227,838), with a pre-tax loss of £1,391,283 (2023: loss of £3,022,593). The Spencer Crag-led company said: “Pure ends 2025 with retail, catering and wholesale business streams, all in growth and all with lots more opportunities in 2026. Not since the end of 2019 has Pure entered a new year with such strong momentum. 2024 was the first year of the transformation to a multichannel business, which included the formal launch of Pure ‘food for business’ services. After four years of covid-related impact, the decision was taken in September 2023 to diversify the business. This meant finding new investors, closing unprofitable shops and launching new business streams. This allowed the business to go from several years of significant losses to adjusted Ebitda breakeven in 2024. This strong performance has continued into 2025, which will be the best Ebitda performance since 2019. And although Pure ended 2024 with three less retail sites than at the end of 2023, this did not stop company sales growing 6% to £23,552,820. The most impressive growth came from Pure’s delivered-in catering business. This grew to over £5m in 2024. For the first time in five years, the risks and uncertainties that the company faces are starting to diminish. Whilst the trading environment remains challenging, there is far more stability and certainty. Operating loss decreased for the period to £1,232,508 (2023: loss of £1,806,829). With the year-on-year sales increase of 6% (2023: 11%) and a stable GP margin of 38.5% (2023: 38.5%) the improved operating loss demonstrates the improving business performance. The adjusted Ebitda, excluding these costs, was breakeven in 2024. This improvement in Ebitda has continued into 2025.” Last month, an additional loan of £500,000 was provided to the company in order to support its working capital requirements. Following the year end – and in-line with the company’s strategy – three stores were closed. One of these was loss-making.

JD Wetherspoon launches January sale with 99p pints: Pints at 600 JD Wetherspoon pubs across the UK are being reduced to as little as 99p for a limited time this month. The pub chain is offering a selection of alcoholic and non-alcoholic drinks at reduced prices including a pint of Worthington’s – 99p, Johnnie Walker Black Label (25ml including a mixer) – £1.99, and Coldwater Creek wine (250ml glass of Chardonnay, Pinot Grigio, Rosé, Merlot) – £2.99 each. Some food options are discounted too, including an 11-inch Margherita Pizza and a crunchy chicken burger, served with chips or a side salad, for £4.99 with a soft drink and £6.52 with an alcoholic drink. A jacket potato with a choice of one filling (tuna mayo, coleslaw, chilli bean non-carne, cheese, baked beans or roasted vegetables) will cost £4.99 including a soft drink and £6.52 for an alcoholic drink. The sale runs from 2 January to 15 January. Wetherspoon founder and chairman, Tim Martin, said: “Department stores and shops hold their sales in January, so it is the perfect time to have a sale in the pub too. The range of drinks and food on sale in the pub is aimed at suiting a wide variety of tastes. We have included a large selection of low and non-alcoholic drinks. I believe that the January Sale will prove popular with our customers. As always, staff at the pub will serve customers responsibly.”

Azzurri Group promotes Sara McKennedy to MD of Coco di Mama, Jim Attwood to focus on Dave’s Hot Chicken: Azzurri Group – the ASK Italian, Boojum and Zizzi owner, has promoted Sara McKenndey to managing director of its food-to-go brand Coco di Mama. McKennedy, who previously had stints at the Street League and Procter & Gamble, joined Coco di Mama as its head of brand in spring 2018. She has spent the past four years as the business’ commercial brand director. Her promotion sees Jim Attwood take responsibility for overseeing the expansion of Dave’s Hot Chicken in the UK and Europe, as its managing director. Attwood, the former Costa Coffee partnerships director, joined Coco di Mama as its manager director in summer 2018. Propel revealed in July 2024 that US brand Dave’s Hot Chicken had signed a franchise agreement with Azzurri Group to open 60 locations across the UK and Ireland and it plans to have 15 open by the end of this June. Coco Di Mama has a retail sales value of more than £50m at the moment and is close to selling ten million sandwiches a year. Coco Di Mama operates 14 sites in London, alongside roadside sites with Roadchef and Motor Fuel Group, 134 delivery kitchens, and retail ranges in Tesco and Sainsbury’s.

Butlin’s back in profit after losing almost £75m: Butlin’s has recovered from losing almost £75m to return to the black during its latest financial year. That comes after Butlin’s fell to a pre-tax loss of £74.2m for 2023. Butlin’s bottom line was boosted by a major revaluation of its resorts to the tune of tens of millions of pounds. Its pre-tax profit was also supported by a large rise in its operating profit to £41.8m after having made a loss of £60.7m in 2022. Despite being back in the black, turnover at Butlin’s, which runs sites in Bognor Regis, Minehead and Skegness, fell in 2024 from £292.7m to £287.5m. In its latest set of accounts, Butlin’s said “the economic backdrop remains challenging” and that “demand for holidays in the UK remained strong despite consumers facing challenging economic conditions across the year”. Butlin’s chief executive Jon Hendry Pickup told City AM: “This was a good year for our business as we continued to upgrade our facilities and multi-skill our more than four thousand team members nationwide. Against a challenging macroeconomic backdrop characterised by high interest rates and dwindling consumer confidence, we produced a robust performance for 2024, with group revenue and total guest weeks stabilising. With Butlin’s turning 90 in 2026, we’re immensely proud of the role we’ve played in so many communities around the country. Our priority now is to continue investing in our resorts to ensure Butlin’s guest proposition continues to be attractive for generations to come.”

Drake & Morgan reports 2.2% turnover drop, improved adjusted Ebitda: Drake & Morgan, the premium operator of London bars led by Jillian MacLean, has reported turnover dropped 2.2% to £44,513,356 in the 52 weeks to 30 March 2025. (2024: £45,499,360). Profit before tax dipped to £2,859,850 (2024: £3,094,538). Adjusted Ebitda rose to £4,700,000 from £4,400,000. The company stated: “The performance was underpinned by a strong festive season when the business achieved record Christmas trading for the second consecutive year, achieving 14.7% like-for-like sales growth for the five-week festive period. The first half of the year, however, was impacted by the unseasonably wet weather which saw the UK experience its wettest Spring since the mid-1980s followed by one of the coolest summers for nearly ten years. This resulted in a challenging start to the year, especially for those of our bars with large terraces.” The company said it has invested in outside terraces at Drake & Morgan, King’s Cross and the Anthologist and Devonshire Terrace. It has extended the maturity of its loan note to December 2027 and its banking facilities to December 2026 since the year-end. The company made charitable donations of £154,217 during the year (2024: £105,547). 

Punch Pub Company reports profit rise: Punch, the pub company owned by CF Cooper Holdings, has reported revenue rose to £337,900,000 in the 52 weeks ended 10 August 2025. Pre-tax profit was £27,500,000, up from £24,600,000 the year before. The company, which operates 1,266 pubs (August 2024: 1,258 pubs), reported it has invested £355,100,000, including pub acquisitions, in the seven financial years to 10 August 2025. A total of 92% of its pubs are owned freehold or long leasehold. Circa 73 percent of its pubs (924 pubs) are operated on the leased and tenanted model whilst 27% (342 pubs) are operated on the Pub Partnerships model, with each pub generally operated by a pub partner through a limited company which receives a share of the pub’s sales – a further 36 pubs were converted to this model, introduced in 2015, during the year. The company stated: “Our business benefits from high Ebitda margins with low central overheads. We predominantly operate leased and tenanted pubs and pub partnership pubs, which benefit from inherently low operating gearing. Our overheads are limited and comprise primarily of non-pub staff costs and central activity costs, such as marketing and IT related costs.” Ebitda rose 7.1% to £95,300,000. The company spent £40m (2024: £30,300,000) in expansionary and maintenance capital. It also spent £20m (2024: £21,500,000) on buying high quality pub assets for “favourable multiples that are expected to generate strong returns over the next several years”. 

Cat & Wickets Pub Company reports record £5.35m revenue and 14.3% like-for-likes over festive period: Cat & Wickets Pub Company, the Midlands-based business founded by ex-England cricketers Harry Gurney and Stuart Broad, has completed a record-breaking year, achieving net sales of £5.35 million across its three sites in the year to 4 January 2026, representing a 24% increase on the previous year. Run-rate turnover now exceeds £6.25 million. The Christmas period proved particularly successful, with like-for-like sales for the whole business up 14.3% versus 2024 and The Griffin inn, Swithland recording its highest ever sales week. The company attributed the rise to a significant increase in walk-in covers. Harry Gurney, managing director of Cat & Wickets Pub Company, said: “These results are a testament to the hard work of our exceptional teams and our unwavering attention to quality in everything we do. While we remain mindful of the pressures facing the wider sector, the strength of our performance allows us to actively and selectively pursue acquisition opportunities that align with our operating model and long-term ambitions. The most notable insight from the festive period was the strength of walk-in demand. Over the course of 2025 we invested intentionally to reposition the business from a destination that required planning to one that could be chosen confidently in the moment. The resulting increase in walk-in covers is not just validation of that strategy, but evidence of a deeper behavioural shift. We believe this type of growth reflects true market position and is a higher-quality signal than reliance on pre-booked demand.” The company’s newest addition, The Long Hop in Burton-on-Trent, which opened in August, has also significantly outperformed initial expectations. The site has achieved average weekly net sales of £34,400 since opening, with the company expecting to see a strong increase in this average after completing its first full summer of trading. Lee Cash, non-executive director, added: “We’re really proud of the service culture we have created that gets more of the team offering the guests more of what they love. We believe we are building a system that is delivering a very high standard and is repeatable as we grow.”

Breal Capital enters pub sector with Yorkshire Dales acquisition: Investment firm Breal Capital, backer of the Evolv Collection (formerly D&D London), has entered the pub sector with the acquisition of a pub with rooms in the Yorkshire Dales. The former backer of TGI Friday’s UK has acquired The Blue Lion Hotel in the village of East Witton, out of administration, for a total consideration of £105,000. The site, which comprises 15 en-suite rooms, three bar areas with seating for 58 guests, and a restaurant offering 30 covers, was previously part-owned by chef Shaun Rankin. The Blue Lion is grade II-listed and was originally built as a shooting lodge before becoming a coaching inn in around 1840. The business historically generated annual turnover of £1.0m–£1.2m (net of VAT). It is understood that Breal is running the site separately from Keystone Brewing Group, the brewing operation it backs, which is behind Hofmeister, North Brew Co, Four Pure and Magic Rock. In November, Keystone filed an intention to appoint administrators. The business subsequently said “we’re still brewing” and that the filing was a “protective measure that allows us to keep trading as normal while we secure new investment or explore a potential sale”. Breal backs Evolv Collection alongside Calveton.

Chesterford Group reports turnover rise, sold Pret division for £1.2m: Chesterford Group, the operator of fish ‘n’ chip shops and Pret a Manger sites under franchise, has reported turnover rose 5.6% to £34,505,179 in the year to 31 December 2024 (2024: £32,685,287). The company said one-off impairment of goodwill of £392,312 and the financing costs incurred of £404,195 in relation to the group’s debt facilities resulted in an overall loss of £567,193, which has resulted in a reduction in the group’s assets from £9,489,658 to £9,254,998. (2024: loss of £328,112). The company, led by James Lipscombe, said its revenue increase was necessitated by inflationary cost pressures on food and drink, sustained customer demand at the group’s existing sites and the strong performance of the Toffs Muswell Hill business acquired during the year for £599,727. Tight cost control and the sale of an underperforming store in Hove, sold for £90,000, had resulted in Ebitda increasing by £256,038 (18.5%) to £1,636,308. A new Pret a Manger opened in Colchester during the year. Restructuring debt facilities saw the parent company take out a new loan facility with HSBC, which has a balance of £4,334,630, which was used to pay down the loan facilities held by its subsidiaries. In November 2025, Chesterford Group sold its Joy Brands business, which operates Pret a Manger, for £1.2m. The proceeds were used to pay down its bank loans. For the year to 31 December 2024, Joy Brands had sales of £8.2m, a loss after tax of £600,000 and net assets of £2.2m. It also sold a Wick site, where its Fish ‘n’ Chick brand had sales of £339,000, for £119,000. As a result of the sales, “revenue will be lower in future periods”. It added: “However, this will be offset by lower expenditure and thus the group’s profits are forecast to be higher overall.”

Wingstop to make Northern Ireland debut: Wingstop UK, which is backed by US private equity firm Sixth Street, has secured its debut site in Northern Ireland. The brand will open later this spring in Belfast, after taking the former Frankie & Benny’s site in Boucher Place. The company currently operates 86 sites across the UK and employs more than 3,000 people, with plans to grow to as many as 200 sites within the next five years. Last month, Wingstop UK opened its debut site in Ireland, at the Liffey Valley shopping centre in Dublin.

Fitness First reports progress during restructuring plan: Fitness First, the gym business subject to a High Court restructuring plan that began in June 2023 and ends on 2 July 2026, has reported turnover rose marginally to £38,419,000 in the year to 31 March 2025 (2024: £38,369,000) despite the number of gyms it runs dropping from 27 to 25. Three gyms closed in the year – Berkeley Square, Tottenham Court Road and Brighton. Membership of the Tottenham Court Road gym was transferred to Marylebone. Profit before tax was £2,113,000 (2024: £2,922,000). Adjusted Ebitda was £5,734,000 (2024: £5,525,000). A dividend of £14,750,000 was paid to parent company Maddox Holdings on 31 October 2024. The dividend was offset against amounts due from the parent company. Gym membership decreased by 6.7% but yield increased by 13.9%. 

Arkells reports turnover and profit up, bemoans inheritance tax laws: Swindon-based brewer and retailer Arkell’s has reported turnover rose 2.5% to £29,875,050 in the year end 31 March 2025 (2024: £29,145,052). Profit before tax rose, without the aid of property disposals, 10% to £2,732,276 from £2,680,162 the year before. The company sold two properties for £1,115,000 in total, making a £231,458 profit. During the year the company borrowed an additional £3m to assist with the purchase of two freehold properties, The Old Stocks Hotel in Stow-on-the-Wold (providing 39 bedrooms in the marketplace) and a property next to The Angel Hotel, Royal Wootton Bassett to “enhance its footprint”. Chairman James Arkell said: “Whatever your political persuasion, the current financial pressures and the aftermath of lockdown and covid patterns have changed for many of our customers and are unlikely to return. In order to survive, many pubs don’t trade on Monday and Tuesday, some Wednesday. As a brewer and pub owner this is a sad state of affairs. But we quite understand their pressures and the knock-on of new national insurance and minimum wage rises – also they lowered the threshold at which firms would pay it. The good news is the weather this summer has gone on and on being hot -the year ended March 2025 was wet, wet, wet! The sunshine has been making up for the NI increases and the slashing of rate relief this year.” Arkell added: “New inheritance laws have a big effect on all private family businesses – so careful planning by us all will have to be sought in order for us to continue reinvesting our time and money in our wonderful family brewery.” 

Pieminister reports revenue decline on back of strategic restaurant closures: Pieminister, the pie specialist led by Tristan Hogg and Jonathan Simon, has reported its revenue declined to £17,886,000 in the year to 31 March 2025, down from £18,362,000 in 2024, which it said reflected the deliberate closure of several restaurants in the current and prior periods as part of a strategic estate review. Pre-tax profits rose to £188,000 from £51,000 the year before – the company said this signalled how it had “responded proactively to the well-documented pressures facing UK hospitality” and “exited a number of legacy larger-format restaurants”. Wholesale sales rose 3.6% to £12,597,000. Restaurant sales were down from £6,205,000 to £5,289,000, which it said reflected a planned restructuring of the restaurant estate, undertaken for two principal reasons. It said: “Firstly, the group responded proactively to the well-documented pressures facing UK hospitality, including sustained increases in operating costs and evolving post-pandemic consumer behaviours. Secondly, as leases reached their natural conclusion, the group exited a number of legacy larger-format restaurants, either through lease assignment or termination at the end of lease terms. While these sites had historically performed well, they no longer aligned with current market conditions or the group’s efficiency objectives. This programme concluded with the closure of two restaurants post year-end, enabling the group to streamline operations, reduce central overheads, and refocus on a more compact, cost-efficient restaurant model. The result is a smaller but materially more profitable and agile estate, providing a stronger platform for a return to profitable growth in the forthcoming financial year, while maintaining the quality of experience and product that customers expect.” Subsequent to the year-end, the group secured a one-year extension to the loan note instrument originally due for settlement in March 2026 and repayment is now due by 31 March 2027. The interest rate has been fixed at 6% for the forthcoming financial year. The group said it continues to have the support of its funding partners.

Goring Hotel boosts turnover: Goring Hotel, the last family-owned luxury hotel in central London, boosted turnover to £17,597,890 in the year to 31 March 2025 (20245: £17,260,841). Profit before tax was £852,000 – the year before saw a pre-tax profit of £4,913,384 thanks to a receipt of £5,347,308 in other operating income thanks to an exceptional payment related to the redevelopment of Grosvenor Gardens House. The hotel has 69 bedrooms. It stated: “The start of our financial year mirrored the steady flow of international visitors experienced in 2023-2024, resulting in a good summer season for the hotel. The second half of the year was more challenging with the impact of ongoing wars in the world, alongside the US elections, having a direct impact on international travellers, resulting in a sub-optimal second half of the year. The London luxury hospitality market, however, continued to experience steady average room rates and as a result we managed to marginally increase our top line revenues, helped by an overall increase in occupancy across the year.” Gross margin was stable at 86.54% (2024: 86.94%). On current trading it stated: “Our current financial year has delivered an increased number of visitors during the summer of 2025, with a strong average room rate, resulting in turnover increasing year-on-year.”

The After School Cookie Club opens two new sites: Plant-based cookie concept The After School Cookie Club, closed out 2025 with the opening of two new sites. The brand’s sixth site opened in Camden, expanding its London estate with a new bakery serving its full range of freshly baked cookies alongside coffee and matcha. The Jesse Jenkins-led business, in which John Vincent, co-founder and former chief executive of Leon, is an investor, said the opening reflected the business’s continued focus on “well-located, high-footfall neighbourhoods and a disciplined approach to growth”. The seventh opening sees The After School Cookie Club selected by UMusic, the Universal Music Group’s retail, cultural and music experience, designed for fans, offering exclusive artist merchandise, immersive installations, and music-centric experiences – to trade as a concession within its new UMusic London shop venue. The partnership reflects an alignment between the two brands, with The After School Cookie Club chosen as the food partner within the Vinyl Lounge area of the site. Jenkins told Propel: “These openings mark an important step for us as we finish the year. Reaching seven sites, in amazing locations, is a milestone.” Alongside the two new openings, the business has extended the lease on its flagship Mayfair bakery, which it said reinforced “its long-term commitment to central London following a strong trading performance across its sites this year”. Looking ahead, the brand said it plans to continue its measured expansion in 2026, including the launch of its first immersive cookie bakery experience, designed to “bring together baking, retail and brand storytelling in a new format”.

Gunpowder team launch site in India: The team behind the Gunpowder and Empire Empire concepts, has opened a new Indo-Chinese restaurant in India. HB Company, which is led by Harneet Baweja, has opened Master Jackie at 55 Chowringhee, in Kolkata. The new venue is said to be inspired by Jackie Chan and Chinese cuisine, and features a “Calcutta club meets Indo-Chinese aesthetic”. Gunpowder currently operates three sites in London and one in Lisbon, Portugal. HB Company also operates Thai fried chicken restaurant Fortune Fried Chicken in London’s Old Spitalfields Market, Empire Empire in Notting Hill, and contemporary bakery and café concept Moi et To in Notting Hill and Tower Bridge.

Yard Sale Pizza hires Luc de Blaquière as new property director: Yard Sale Pizza, the restaurant and delivery business backed by Piper, has hired Luc de Blaquière, formerly of Five Guys Europe and Wagamama, as its new property director. De Blaquière joins Yard Sale Pizza after six and a half years as estates manager at Five Guys. Prior to that he spent two years as an estates surveyor at Wagamama. He said: “After six years at Five Guys Europe, I’m officially swapping burgers for pizza! It’s been a great run. Brilliant people, big projects, and a lot learned along the way. I’m really excited to announce I’ll be joining Yard Sale Pizza in January as property director to accelerate the expansion of the brand and I can’t wait to get stuck in.” Last November, Propel revealed that Yard Sale Pizza had hired Stephen Hollis, formerly of Soul Foods Group and Nando’s, as its new chief executive. Hollis joined the 15-strong business, which was co-founded by Johnnie Tate and Nick Buckland in 2014, on the back of more than 25 years of experience working with highly respected brands. The company will open a new site in East Finchley early this year and is negotiating on a number of other sites around London. 

Las Iguanas launches new January rewards offer for ‘Hospitality Heroes’: Las Iguanas, the Big Table Group-owned business, has launched a new January offer designed to reward “Hospitality Heroes” – those who kept the industry moving during the busiest time of year – and Blue Light Card holders for their “hard work, dedication and commitment”. From 1-30 January 2026, “Hospitality Heroes” can enjoy 30% off their food bill, available Sunday to Friday, dine-in only. The offer applies to full-price food from the brand’s all-day menu and is valid for tables of up to six guests, with each guest required to present a valid code. Alongside this, Las Iguanas said it is enhancing its support for those who go above and beyond every day with an improved Blue Light Card offer. Blue Light Card holders, including emergency services, NHS, social care workers and armed forces, can enjoy 30% off food from 2 January through to 13 February. The company said that both offers underline Las Iguanas’ commitment to “rewarding the people who make a difference, offering great food, great value and a well-earned moment to unwind at the start of the year”.

Hall & Woodhouse to open Brentford riverside site: Brewer and pub operator Hall & Woodhouse, which operates circa 150 pubs, is to open a new riverside café bar and restaurant in Brentford, west London. Called The Dock House, the new site will open as part of the Workhouse Dock development along the Brent riverside. The opening of the new site, which is to be situated in a unit at the top of the steps in the development where people previously viewed the open-air cinema during the summer months, is set to open late spring/early summer. The company said: “Inspired by the character of the local area, its contemporary urban design blends seamlessly with Hall & Woodhouse’s heritage to create a warm, welcoming atmosphere. With all-day service, it’s the perfect place to relax, enjoy great food and drink, or gather with friends – whatever the occasion.”

Tynemill reports small turnover dip and stable profit: Brewer and pub operator Tynemill, led by Colin Wilde, has reported profit before tax of £452,520 in the year to 31 March 2025 (2024: £466,902). Turnover was down 3.2% to £10,171,955 from £10,527,177 after it transferred the Golden Eagle from managed to tenanted at the start of the financial year. Ebitda was up 8.9% to £936,203. The company reported it had reduced debt level by 6.4% over the year and now had a lower level of debt of 30.1%. It stated: “The company remains well within the specified bank covenants and the strength of the balance sheet will assist in the tendering process for the scheduled refinance in February 2027. Alongside the debt repayment made during the year the company has managed to maintain a steady level of investment back into its assets out of its earnings and has invested further into initiatives that will enhance the operational efficiency of the company especially in IT replacements and upgrades.” Operating profit in brewing rose 4.6%. Tynemill sold the freehold of its Swan in the Rushes, Loughborough and said it will re-invest the money into its brewing capabilities.