McDonald’s CEO – the market share losses in the UK are to the people that we should be beating: Chris Kempczinski, chief executive of McDonald’s, has said that the market share the business has lost in the UK is to “to the people that we should be beating” and that the brand needs to focus on its execution and “just doing a better job in that market”. It comes as McDonald’s reported global like-for-likes were down 1% in its first quarter ending 31 March 2025 – with the UK seeing sales fall. When asked by analysts whether the UK was one of the markets gaining share, and if new competition might be affecting the business, Kempczinski said: “The UK is not yet gaining share, so there’s still work for us to do in the UK. I’d say the share losses are to the people that we should be beating. So, I don’t think that new competitors are the issue that we need to focus on in the UK. It’s about our execution and just doing a better job in that market.” Ian Borden, chief financial officer at McDonald’s, said that in the UK, where quick service restaurant industry traffic declined versus the prior year quarter, “we are actively addressing the opportunities that are within our control”. He said: “We understand what it takes to succeed in the UK market, which continues to build upon their value and affordability foundation, and we remain confident in our ability to revitalise the business by improving our execution and leveraging successful strategies from other markets. We clearly believe we’ve got opportunities that are within our control from an execution standpoint. We’ve got work to do there. I would just point a little bit to France. I think the UK has a much narrower set of opportunities to address, but I think if you think of the complexity of the challenge that we’ve had in France, and the progress we’ve made, that gives us a lot of confidence in our ability to translate the appropriate learnings and get our UK business back to where we expect it to be.”

 

BKK Social Club, OJO and Sanctuary all added to Propel Bangkok study tour: Bookings are being taken for the Propel Bangkok study tour, which takes place between 13-17 November 2025. Bangkok is a culinary hot-bed of talent and has no less than 34 Michelin-starred restaurants. The tour will now be visiting the critically acclaimed BKK Social, which is located at the Four Seasons hotel and was voted number seven on Asia’s 50 best bars in 2024, best international hotel bar 2024, number 12 on the world’s best bars list 2024 and Thailand’s best bar on Asia’s 50 best bars list for the previous three years. The tour will also visit the award-winning OJO, which is perched atop the Standard hotel on the 76th floor and is the highest restaurant in Thailand. The tour will also visit Bangkok’s latest rooftop bar, the Sanctuary. The city also boasts some of the highest rooftop bars and restaurants in the world and is a hospitality bucket list in Asia. Other highlights of the trip include: a visit to the famous floating market; a night food tour in Chinatown; a tour of the city’s most revered Hawker operations; a Thai cookery masterclass; a tour of the most impressive rooftop bar and restaurant operations; visits to some of the city’s most admired bar and speakeasy operations, some of which are in the world’s top 50; a visit to the railway food market; and visits to some of the best hotel operations in Asia. Included are flights, three nights’ accommodation, three hosted dinners, welcome drinks reception and all tours. The single occupancy price is £3,500 and twin occupancy price is £3,250. The tour will be hosted by Myles Doran, founder and managing director of Hospitality Inc, which is a specialist in delivering irresistible international hospitality tours. For further information, contact myles@hospitality-inc.co.uk or 07710 783485.

 

Urban Pubs & Bars MD Chris Hill to speak at Excellence in Pub & Bar Retailing Conference, open for bookings with 20% discount on tickets for Premium Club subscribers: Chris Hill, managing director of Urban Pubs & Bars, will be among the speakers at the Excellence in Pub & Bar Retailing Conference. The all-day conference, the best-attended pub and bar conference in the sector, takes place on Wednesday, 14 May at One Moorgate Place in London and is open for bookings. Hill will join Propel group editor Mark Wingett to discuss the ethos that has driven the award-winning business to become London’s largest independent pub operator, producing record-breaking Ebitda and turnover performance. Propel is also launching “parallel sessions” at this year’s conference, which offer the chance to deep-dive into specialist subjects. There will be a chance for teams attending the conference to break away and absorb the parallel sessions. There will be ten parallel sessions in total, which will run alongside the main conference. For the full speaker schedule, click here. Tickets are £295 plus VAT for operators and £345 plus VAT for suppliers. There is a 20% discount for operators and suppliers who are Premium Club subscribers. Email: kai.kirkman@propelinfo.com to book places.

 

Premium Club subscribers to receive new searchable and segmented New Openings Database today: The next Propel New Openings Database will be sent to Premium Club subscribers today (Friday, 2 May). The database will show the details of 154 site openings, including which company has opened a site or its plans to open one in the future. The database will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published monthly and Premium Club subscribers will also receive a 9,493-word report on the 154 new additions to the database. The database is segmented into seven categories – cafe bakery, casual dining, experiential leisure, fine dining, hotels, pubs and bars, and quick service restaurants (QSR) – making it even easier for users to search. The database includes new openings in the QSR sector such as burger concept Bleecker opening in London’s Soho, BVC Hospitality launching a second site for its Supernova smashburger brand in the capital, and burger franchise concept, Burger & Sauce opening a second Nottingham site. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the Multi-Site Database, the UK Food and Beverage Franchisor Database, the UK Food and Beverage Franchisee Database and the Who’s Who of UK Hospitality. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events including Excellence in Pub Retail (May 2025) and discounts on specialist sector reports such as the International Brands report. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club subscribers will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct subscribers to all the vital content their membership offers. Premium Club subscribers also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

 

In Conversation – Propel talks to Itsu founder Julian Metcalfe: In the latest In Conversation podcast, Propel group editor Mark Wingett and Mark Stretton, chief executive of leading sector public relations firm Fleet Street Communications, talk to Julian Metcalfe, founder of Itsu, the healthy Asian food brand, and co-founder of Pret A Manger. Available today (Friday, 2 May) at 3pm to Premium subscribers, Metcalfe discusses his leadership style, who inspires him, his key pillars for growing a business, the potential for Itsu, and the biggest challenges that lie ahead for the brand and the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

 

AlixPartners – changes to the cost base have probably set operators back 12 months: Changes to the cost base following the impact of the Budget have probably set sector operators back 12 months, in terms of profit growth, according to leading advisory firm AlixPartners. Writing in today’s (Friday, 2 May) Premium Opinion, which will be available to Propel Premium subscribers at 5pm, Graeme Smith and Craig Rachel, who lead the travel, hospitality & leisure corporate finance and capital advisory team at AlixPartners, said: “As ever, there are no simple solutions out there that on their own solve the problem. It’s not easy, and these changes to the cost base have probably set operators back 12 months, in terms of profit growth. But there are still levers to pull that can help ease the undoubted pain being felt. The biggest lever of all, of course, and one somewhat beyond the sector’s control, is the consumer. Operators will be hoping that as the sun starts to shine, consumers will be minded to loosen their purse strings.” This week’s Premium Opinion also features Michael Penfold, director at property advisory firm AG&G, on the rise of the ‘Gastropub 2.0’, while Propel group editor Mark Wingett speaks to Prezzo Italian chief executive James Brown on his plans for the rebranded business. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

 

North east fish and chip operator – ‘we’re going to see thousands of shops close, general consensus is the industry has 20 years left’: The owner of fish and chip business in the north east has warned that without government intervention, thousands of fish and chip shops will close in the coming year, and the general consensus is the industry has “20 years left”. Sonny Gill, whose business was founded in 1971, operates seven Gills Fish and Chip shops – two in Sunderland and one each in Gateshead, West Denton, Heaton, Wallsend and Ponteland. He told the Northern Echo. “We have conversations about survival every single day, and nobody sees the light at the end of the tunnel. If the government doesn’t do something to help, like lowering VAT, in the next six to 12 months, we will see thousands of fish and chip shops close. The general consensus is the industry has 20 years left.” ITV News recently reported that since January 2020, the average cost of fish and chips has risen 52%, from £6.64 to £10.09. At Gills, prices have jumped from £7.95 pre-covid to £14.99 for the same portion. Gill said this was down to energy and gas prices, produce, rises in the minimum wage and national insurance, and supply complications arising from the Russia-Ukraine war and Brexit. “We used to buy fish in at £110 a box – that same box is now £290,” he said. “It’s the same with potatoes – a bag that used to cost £4.50 is now costing between £12-£15. We’re having to change the way we do business to try and keep the prices competitive, but we can’t compete. Some customers are understanding but some are aggressive towards the staff and are violent. Nothing’s changed in our portion or our product, but we’re getting customers complaining, trying to get their money back because it’s an expensive meal now.”

 

New mentoring programme to support senior women in hospitality launched: Boardwalk, a mentoring programme dedicated to accelerating senior women in the hospitality industry into board-level positions, has been launched. The not-for-profit initiative has been founded by leading hospitality figures Ann Elliott, Christine Martin and Shereen Ritchie. Focused on just 20 high potential mentees, the year-long programme will match them with outstanding leaders in the sector for one-to-one mentoring. Twenty senior hospitality leaders from across the sector – men and women – have already committed their time to be mentors, including Will Beckett (co-founder of Hawksmoor), Justin Carter (Loungers group manager), Pano Christou (Pret A Manger chief executive), Thom Elliott (Pizza Pilgrims co-founder), Simon Emeny (Fuller’s chief executive), Laura Harper Hinton (Caravan co-founder), Thomas Heier (Wagamama chief executive), Paula MacKenzie (PizzaExpress chief executive), David McDowall (Stonegate chief executive), Alan Morgan (Big Table Group chief executive), Marta Pogroszewska (head of Bread Holdings), and Emma Woods (Tortilla chair). The programme will include wrap-around support with online tutorials, access to a mentoring platform to track progress and a wider network that will maximise mentees’ chances of securing a seat at the top table. Boardwalk’s stated aim is to secure a minimum of 60% of each cohort their first board roles within three years of completing the programme. “Boardwalk is a mentoring programme with a difference,” said Elliott. “It’s about creating an ecosystem where senior women thrive, male allies are actively engaged, and companies build leadership teams that truly reflect the talent and diversity of their workforce.” Boardwalk is now accepting applications for its inaugural cohort. The closing date is Friday, 23 May and the programme starts on Monday, 9 June.

Historic London pub which gave tube station its name granted protected status: A historic London pub which gave tube station its name has been granted protected status. Ye Olde Swiss Cottage, in North London called last orders in February after owners Samuel Smith’s Brewery suddenly decided to close it. The pub, which dates back to the 1830s and resembles a Swiss chalet, was originally a coaching inn near a tollgate, at a time when the area was surrounded by fields. The current building, constructed in 1930, was not listed by Historic England and therefore not safeguarded from potential redevelopment, but now has protected status thanks to applications from Camden Council, the Belsize Society and the Campaign for Real Ale. It is now listed as an asset of community value, which means should it be put on the market over the next five years, local campaign groups and residents will have six months to raise money to bid for it. Speaking to the Ham & High newspaper, Alan Selwyn, planning lead at the Belsize Society, said efforts had already begun to return the pub to public use. He added: “We are keen to work with the current owners to come up with a solution that benefits the community.”

 

Job of the day: COREcruitment is working with a global hospitality brand that is seeking a design manager. A COREcruitment spokesperson said: “The company is looking for a creative and strategic design expert to lead brand development, ensuring consistency and innovation across digital, print and physical spaces. The design manager will collaborate across multiple departments – architecture, finance, HR and marketing – and external partnerships to bring this company’s vision to life.” The salary is up to £55,000 and the position is based in Central London. For more information, email gemma@corecruitment.com.

 

Nightcap planning £5m fundraise, ‘we’re outperforming a market in decline’: Nightcap – the owner of The Cocktail Club, the Adventure Bar Group and the Barrio Familia group of bars – is planning a fundraise of up to £5m to finance a “significant capital expenditure programme” for the recently acquired i360 venue in Brighton and “other key investments” across its existing circa 45-strong estate, Propel has learned. It comes as the Sarah Willingham-led business said it is “outperforming a market in decline” and that recent trading momentum, particularly from The Piano Works and The Cocktail Club, positions the company “well for future growth”. For the three months to the end of 2024, the business reported revenue of £17.9m and company Ebitda of £2.25m. Nightcap said it saw a strong December finish, with revenue at £9.2m (5% like-for-like growth including the new year), with record site Ebitda from The Piano Works contributing significantly to that month’s group Ebitda performance of £2.7m. The acquisition of the i360 in Brighton for £150,000 represented the third acquisition from companies in administration in two years for the business. The company said: “The i360 site adds 20,000 square feet of hospitality space with potential to become the highest revenue venue within the group. An investment of £1.5m is planned over the next 18 months, with expected capital payback within a similar time period.” The company has also implemented a two-year capital expenditure programme focused on profit optimisation within the current estate through upgrading and enhancing its existing venues and revitalising some of its brands. Nightcap said: “Despite continuing market challenges including cost-of-living pressures, train strikes and changing consumer habits, we’re outperforming a market still in decline. We expect to continue to take advantage of the challenging environment to secure high-value assets such as the recent i360 acquisition, at attractive valuations.” Another focus is on optimising The Piano Works opportunity, with a third venue opening in Cardiff next month, including new elevated design and brand elements. There will also be an enhanced capital expenditure plan to drive like-for-like sales growth across the estate. Willingham said: “The board remains optimistic despite current trading challenges expected throughout 2025. Macro indicators suggest gradual economic recovery through easing of cost-of-living challenges, providing an improved environment by late 2025. Significant revenue growth is projected, particularly through the i360 acquisition and the proposed capital expenditure programme. The group remains confident in achieving medium-term ambitions of more than doubling the estate size and strengthening its position as a leading hospitality group in the UK.”

Pret adds European role to Clare Clough’s remit: Pret A Manger, the JAB Holdings-backed chain, has promoted Clare Clough to managing director of its UK and European operations, Propel has learned. Clough has been UK managing director of Pret since the summer of 2019, overseeing its growth to 490 sites here. Widening her remit to also oversee the brand’s European operation adds a further 100 sites to her remit. She joined the company as head of food and technical in October 2010 before becoming global food and coffee director. Prior to joining Pret, Clough worked in commercial and technical roles for Tesco, having graduated with a degree in food technology from Reading University.

Greene King CEO – real opportunity for our franchise concepts to continue to scale: Nick Mackenzie, chief executive of Greene King, has told Propel that there is a real opportunity for both of its franchise concepts – Hive and Nest – to “continue to scale”. At the end of 2024, the company operated a total of 74 sites under both formats, with Hive opening its 50th site during the year. In 2024, 14 sites were converted into Hive franchise pubs and ten sites into Nest franchise pubs. In contrast to Hive Pubs, which focuses on food offerings, Nest Pubs focus on wet-led establishments located on high streets and within community settings. Mackenzie told Propel: “When you innovate, not everything works. So, you take the wins when you get them, and they’ve been really strong for us. But we’ve always said we won’t just roll out for the sake of scale. It’s about how do you make sure that you roll them out with the right brand guidelines, the right site selection? You’re only as good as your last investments, and therefore you have to make sure that you’re continually being really careful about how you roll them out. That being said, I think there is a real opportunity for Hive and Nest to continue to scale, and the team are very focused on that. But we want to make sure when we do them, we do them right, and we have the right partners. We have the right infrastructure in place to do that, and the model we use for those has to work both for us and the franchisee, and we’re continually working on that relationship.” Mackenzie said the group was also seeing “pockets of change” when it comes to consumers seeking out premium products. He said: “In patches, behaviour is changing, but I wouldn’t say that as a generalisation. People are still looking for premium products, but I think there is some price sensitivity in the market that is pushing some consumers to go into value options. We are seeing pockets of change in the way people are looking at that. But I wouldn’t say that is a trend we’re seeing – people still want premium products, and they want a really good serve when they get it. That is what we’re focused on – how you maximise and give the best possible serve to customers when they do come in and they do part with their money.”

Former Sussex Inns director launches new venture with ex-Slug & Lettuce site: Nick Marshall, ex-operations director at Sussex Inns, has acquired the ex-Slug & Lettuce site in Worthing for the launch of a new bar concept called Harlequin’s. Located at 20 Chapel Road, the venue is set to undergo a transformation into the new concept, which promises “more entertainment, bigger events, and an elevated customer experience for the Worthing community”. Harlequin’s aims to retain “much of the charm that made the venue a local favourite while introducing a new offering to the town”. Marshall, of The True Pour Co, said: “As we looked to grow our business this year, we’re really pleased to have got this project over the line. The Slug & Lettuce brand has built a fantastic following in Worthing, and I’m genuinely excited to be working alongside their existing management team as we develop the venue further. Looking ahead, we’re keen to continue expanding once Harlequin’s is successfully launched, and we’re excited to keep working with Nick Earee and the team to explore new opportunities in the near future.” Nick Earee, who is divisional director for Fleurets South, acted in the deal.

 

Mowgli founder – we’ve more locations quietly cooking away behind the scenes: Nisha Katona, founder of Indian street food brand Mowgli, has told Propel the TriSpan-backed business has more locations “quietly cooking away behind the scenes” and that “growth at a time of such challenge is something we don’t take for granted”. It comes as the company posted a 31% increase in turnover to £40,463,975 for the year to 31 July 2024 compared with £ 30,874,316 the year before, and a pre-tax profit of £512,178 versus a loss of £476,456 the previous year. The business operated 24 restaurants at the year end. Katona told Propel: “We are thrilled to have seen sales grow by 31% this year, reaching £40.5m. This is the result of six new Mowgli restaurants opening, each one a new chapter in our story. Our adjusted Ebitda has grown in step, another 31%, taking us to £5m, even as we navigate what continues to be a challenging economic climate. This is a testament to our incredible teams and our loyal guests. Looking ahead, 2025 is promising. We have already opened in Stratford and Newcastle this year. Norwich, Belfast and Dublin are on the horizon, and more locations are quietly cooking away behind the scenes. Growth at a time of such challenge is something we don’t take for granted. Shoulders remain to the plough at Mowgli as we navigate the year ahead with hope and humility.” Propel revealed last month that Mowgli is to make its international debut later this year with an opening in Dublin. The now 26-strong business has secured a site in the Irish capital’s South Great George’s Street for an opening this autumn. The business plans to open in the former Superdry clothing store, in Norwich’s Chantry Place, this summer, and is also set to make its debut in Northern Ireland, in Belfast, this summer, in the city’s Victoria Square.

 

Club loan totalling £190m supports Loungers acquisition, eyes St Albans for Cosy Club: OakNorth has provided a £30m debt financing package to support Fortress Investment Group and Lion Capital’s acquisition of Loungers – part of a wider club loan with several other banks totalling £190m. Loungers was acquired by US private investment firm Fortress in February in a £354.4m deal. Under Fortress and Lion’s ownership, Loungers, which currently operates circa 290 sites across its Lounge, Cosy Club and Brightside brands, plans to continue its proven site rollout strategy, opening more than 30 new sites a year to capture further market share in under-served UK locations. Alex Reilley, executive chairman and co-founder of Loungers, said: “We’re hugely excited about what the future holds for Loungers. Having the backing of both Fortress and Lion Capital provides us with the firepower and strategic support to continue our ambitious expansion plans while staying true to the culture and values that have made Loungers so special.” It comes as Loungers eyes an opening in St Albans, Hertfordshire, for Cosy Club. The business has applied to open at the Christopher Place shopping scheme. Earlier this month, the 36-strong brand unveiled a new, reimagined look and feel at its site in Manchester, which it said is an “exciting new chapter” for the brand. The new look will be incorporated at its new site in Reading, which will open in The Oracle scheme in Minster Street next month. Loungers will also open a new Cosy Club in Swansea’s Exchange Buildings later this year.

 

Cupp launches new Express format: UK bubble tea brand Cupp has launched a new Express format. These will take the form of grab-and-go tea stations that fit into locations from service stations, gyms and convenience stores to restaurants, theme parks and holiday parks. Managing director Paul Tanner said: “Cupp Express is perfect for any existing business, whether that’s convenience stores, petrol stations, hotels, holiday parks and many, many more. No barista? No problem. No space? We’ve got you. No experience? We’ll train you.” Tanner said the format offers an easy set-up and a quick return on investment. Cupp, founded in 2012 by Lee Peacock, currently has circa 40 UK locations and is aiming to reach 50 by the end of the year. The business also secured a deal for its first international locations in March, with a development deal in Hyderabad, India.

 

Punch adds Dorset site to leased and tenanted estate: Punch Pubs & Co, the Fortress-backed group, has added to its leased and tenanted estate with the acquisition of the Duke of Wellington pub in Wareham, Dorset. The site will be run by the existing team. Punch Pubs & Co head of acquisitions, Andrew Cannons, said: “This is a great town centre pub that already has a fantastic reputation. I’m confident that with the help of Punch’s industry-leading investment and support, it will continue to succeed in the heart of the town for many years to come.” The pub, which sits just off the High Street, features a rear beer garden that seats 80 as well as a main bar area and dining room. Last week, Punch acquired four pubs from Leicestershire brewer and retailer Everards. The pubs – The Old Kings Head in Long Buckby, The Paget in Loughborough, The Cricketers in Leicester and the Dog & Gun in Whetstone – have been placed into Punch’s leased and tenanted estate.

 

Cosmo team plans Umami World Kitchen opening in Leicester: The team behind buffet brand Cosmo is planning to launch a third site under its Umami World Kitchen concept, in Leicester. The company plans to open a site under the all-you-can-eat buffet concept in the Highcross shopping centre. The concept, which already operates sites in Blackpool and Telford, offers an “all you can eat buffet featuring 100 diverse cross-cultural cuisines, including Chinese, Italian, Indian and British dishes.” Cosmo, which operates 20 sites under its eponymous brand across the UK, is also planning to launch Umami World Kitchen sites in Colchester, Newcastle, Peterborough and Swansea. Earlier this year, the business launched a new concept called Smokin’ Hot Buffet and Grill in Coventry. The business relaunched its debut Umami World Kitchen in the city’s Corporation Street under the new concept based on “valuable feedback” it had received. 

 

Buzzworks to open fourth Herringbone site this month: Scottish independent restaurant and bar operator Buzzworks Holdings will open a fourth restaurant under its Herringbone concept, and third in Edinburgh, later this month. Herringbone Barnton will open its doors on Friday, 16 May, at 201-205 Whitehouse Road in Barnton. The venue will join Buzzworks’ two other Herringbone sites in Edinburgh – Goldenacre and Abbeyhill – and its location in North Berwick, offering a menu of “daytime favourites and vibrant evening plates”, including gourmet burgers and sourdough pizza. Food will be served from 9am daily, including a full breakfast menu, and guests will also be able to enjoy more than 30 varieties of wine by the glass, alongside seasonal cocktails and local craft beer. General manager Chris Robinson said: “The finishing touches are going in and the venue is looking fantastic.” Buzzworks is also behind the Scotts, Lido, House, Vic’s & The Vine, The Duke, Thirty Knots, The Bridge Inn and The Fox concepts.

 

Team behind Banh Banh set to open Vietnamese café and cocktail bar in Peckham: The team behind the Banh Banh Vietnamese Bar & Kitchen restaurants in London’s Peckham, Brixton and Fleet Street is set to open a new Vietnamese café and cocktail bar in Peckham. The Nguyen siblings, whose cooking pays homage to their grandma, who was a chef in 1940s Vietnam, will open Lai Rai in the former Issa Vibe site at 181 Rye Lane next month. Lai Rai will operate as a Vietnamese café during the day, serving the country’s specialty coffee alongside loaded banh mi, before morphing into a cocktail bar by night, offering larger dishes and Vietnamese-inspired cocktails. These larger plates will include fried prawn and young green rice on sugarcane stalks with peanut and nước chấm satay sauce, and grilled betel leaf beef with coffee barbecue jus and twice-cooked crispy chicken, reports Hot Dinners.

 

South west holiday park company reports ‘challenging year’ with low consumer confidence and fire at on-site restaurant: South west holiday park company South West Holiday Parks has reported a “challenging year” with low consumer confidence and fire at one of its on-site restaurants. The company, which operates three holiday parks across Devon and Cornwall, saw turnover drop from £13,888,526 in 2023 to £10.145,838 in the year to 31 March 2024. Pre-tax profit fell from £2,938,379 to £2,136,463. The 2024 figures include insurance income of £119,785 (2023: nil). Dividends of £300,000 were paid, the same as in the previous year. Director Joshua Donald said: “The business had a particularly challenging year, with low consumer confidence of the back of rising interest rates and double digit inflation. Margins were maintained but fewer holiday home sales resulted in a lower overall turnover. Demand shifted towards lower priced holiday homes offered both by the business and privately by owners. Holiday bookings exhibited a similar shift to discounted prices. With additional capacity in 2023-24, holiday home bookings remained flat year on year, bolstered by a strong performance in touring. Our on-site restaurant/bar at Coast View Holiday Park unfortunately suffered a fire in November 2024, and hence revenue from on-site spends was lower. During the year, we opened our newly refurbished central facility at Seaview and continued substantial investment in all three parks.” Donald added that the increase in national insurance and national minimum wage, alongside changes to business property relief, will “continue the swell of overheads”. He added: “The directors are monitoring these challenges closely. The directors maintain their view that well directed investment will maintain and enhance the company’s position in the market and will increase future sales and profitability.”

 

London Italian café concept launches £800,000 fundraise to help open new site in Canary Wharf: London Italian café concept Amaro Dolce has launched an £800,000 fundraise to help it open a new site in Canary Wharf. Amaro Dolce was founded in 2023 by home baking enthusiast Yuliya Bliss – starting out by supplying other cafes before launching its first own café, in York Road, Battersea, in January 2024. Having launched a campaign on crowdfunding platform Republic Europe, Amaro Dolce has so far raised more than £617,000, with 27 days left. Offering equity of 16.67%, the company has a pre-money valuation of £4m. The funds will be used mainly to acquire the new site – for which it has an agreement in place – with some also going towards renovations, rebranding, staffing, operations and marketing. The company said it achieved positive Ebitda at its York Road café in November 2024, as well as £20,000-plus in gross profit the following month, and reported £30,000-plus gross profit at its central production unit in December 2024. “Amaro Dolce is redefining the café industry with our central production model,” the company said in its pitch. “Our profitable York Road café and business-to-business operations prove the model works – it enables us to launch new sites faster, at lower cost, and achieve positive Ebitda sooner.”

Exmoor Ales enters into agreement with Hogs Back as part of restructure and closes brewery amid cost pressures: Somerset brewery Exmoor Ales has entered into an agreement with fellow brewery, Hogs Back in Surrey, and closed its brewery amid cost pressures. Hogs Back has invested to support the restructuring and will hold a minority stake in the new venture. Exmoor Ales, which supplies beer across the UK, blamed covid, inflation and the latest tax increases for the closure of its own brewery. Hogs Back Brewery has taken on production in a move that is hoped will “keep the brand alive” while Exmoor Ales “looks at its future options”. The brewery had brewed its beer in Wiveliscombe since 1979, and Jonathan Price, who remains as managing director, said its beer will continue to be distributed from Wiveliscombe, with Hogs Back helping with national distribution. Price said: “The closure of a brewery is always sad, but in the current market, it is becoming all too common as global brewers close opportunities for small local brewers.” Rupert Thompson, owner and chairman of Hogs Back Brewery, added: “In a very challenging market, one of the ways to survive and eventually prosper is to enter into close commercial collaborations with like-minded businesses. This allows for the sharing of resources, expertise and staff, and at the same time, saves a very popular local beer brand.”