Brakspear acquires three pubs in Surrey from Grosvenor Pubs and Inns: Pub operator Brakspear is to expand its leased and tenanted estate with the acquisition of three pubs in Surrey from Grosvenor Pubs and Inns. The pubs are: The Cricketers on the Green in Pirbright, The Kings Arms in Egham and The Duke of Cambridge in Tilford, near Farnham. Brakspear, which currently has around 110 leased and tenanted pubs, and a further 12 in its managed division, Honeycomb Houses, said that the transition to its ownership of the three pubs will be seamless, although The Cricketers on the Green will close for a four-week refurbishment designed to “strengthen its appeal ahead of the key summer trading season”. Existing Brakspear business owners – Brakspear’s term for its tenants and lessees – will be taking on two of the new pubs. Manu Bhatt, operator of award-winning pubs The Running Horses in Surrey and The Leicester Arms in Kent, will be taking The Cricketers on the Green while Will Buck, the operator at The George Inn near Bedford, takes The Kings Arms. At The Duke of Cambridge, current GM Paul Grieve becomes the new business owner. Brakspear chief executive Tom Davies said: “These beautiful and popular pubs are a great addition to our existing leased and tenanted estate. We’re delighted to have secured all three, and look forward to working with our talented operators to build on their current trading and create exceptional pubs. We are also delighted to be placing two of the new pubs with Will and Manu, who are taking on their second and third Brakspear pub respectively. This gives them scale to develop their offer across several sites, as they build their own multiple-site businesses with our support. We are continually looking for pubs to add to both our leased and tenanted estate and Honeycomb Houses managed estate. Despite the challenges our industry continues to face, we are confident that, with the right sites and the right operators, we can build more successful pub businesses. We’re looking forward to adding more great pubs to our estate this year.” Last week, Various Eateries, the Coppa Club and Noci operator soon to be known as Coppa Collective, completed the acquisition of a premium pubs with rooms portfolio from Grosvenor Pubs. Earlier this month, the business said it had exchanged on asset purchase agreements to acquire the portfolio for £11.25m and expected to complete the acquisition of four sites later in March, with a further agreement in place to potentially acquire a fifth site.

Time Out – First half of FY26 has been a period of significant operational progress and financial improvement: Time Out Group, the global media and hospitality business, has said that the six months ended 31 December 2025 had been “a period of significant operational progress and financial improvement” for the business. It reported that group revenues increased 2% to £39.8m (H1 FY25 £38.9m), with group adjusted Ebitda up 23% to £6.0m (H1 FY25 £4.8m). Its Markets division adjusted Ebitda profit stood at £6.7m (H1 FY25 £6.9m), while its Media division returned to profitability with adjusted Ebitda of £1.9m (H1 FY25 £0.6m adjusted Ebitda loss). The business said that the £8m equity placing announced in the period and completed early 2026 providing both growth capital and working capital in support of efficiency programmes. Two new Markets opened in the period: Budapest (management agreement) and Manhattan (owned and operated), with Vancouver and Abu Dhabi management agreements scheduled to open later this year. In January 2026, the Chicago Time Out Market was closed and Boston Market was licenced to a large local real-estate developer, with both actions improving future cashflow and Ebitda. The majority of the group’s portfolio now comprises capex-light management agreements with recurring revenues. Chris Ohlund, chief executive of Time Out Group, said: “The first half of FY26 has been a period of significant operational progress and financial improvement for Time Out Group. Following a rigorous review of our strategy, we are seeing the direct impact of our focus on cost efficiency and the expansion of our high-margin, capex-light model. The most notable turnaround occurred in our Media division, where we have adapted to changing user behaviour and see significant further potential. Our Markets division continues to be a cornerstone of the group’s value proposition. In January 2026, we took the decisive step to close the Chicago Market and license the Boston Market to a large local real estate developer. These actions respond to structural changes in local footfall and ensure our capital is deployed where it generates the highest returns. Finally, I want to acknowledge the dedication of our team during a period of significant structural transition. I am deeply grateful for their drive and focus, which has directly underpinned our return to profitability in the Media division” The group has a number of management agreement Markets and a media franchise in the GCC (Gulf Cooperation Council) region. It said: “We are in regular dialogue with our local partners. All Time Out partners in the GCC region are currently trading, but with significantly reduced football due to the conflict. The majority of our Markets portfolio now comprises capex-light management agreements and our pipeline remains strong. With a more streamlined cost base, a growing portfolio of high-margin management agreements, and a Media division back in the black, Time Out Group is well-positioned for sustainable, profitable growth.”

Supplier to Gordon Ramsay collapses: A food supplier to Gordon Ramsay, British Airways and Whole Foods has collapsed amid rising cost pressures in the hospitality sector, putting 60 jobs at risk. The Times reports that Fairoak Foods, a private-label manufacturer that supplies premium retail, food service and travel brands, has appointed Quantuma as an administrator due to “cashflow issues”. The advisory firm said no employees had been made redundant while it sought a buyer for the Surrey-based business, including its fully equipped 6,700 sq ft factory in Woking, Surrey. Kelly Mitchell, joint administrator, said Fairoak was “recognised as a premium private-label manufacturer of high-quality, chef-led food and should attract significant interest, despite having to cease to trade, due to the company’s cashflow issues. The company has an experienced management team with deep sector knowledge and strong customer relationships.” Fairoak was founded in 2011 by Steve Elkins as a food manufacturer specialising in premium small-batch cooking and “anything that can be made in a saucepan” such as soups, sauces, stews and curries. The company described itself as a “key partner” for clients including the Gordon Ramsay Group and the Ivy Group, as well as brands such as BA and Whole Foods. It also counted Leon, the high street restaurant chain, as a client. Fairoak Foods had £9,929 in cash at the end of March last year, compared with £56,166 at the end of March 2024, filings show. Its net assets dropped from £215,516 in 2024 to £60,078 at the end of the last financial year.