Prezzo Italian CEO – working on a second brand, new London locations and QSR format: James Brown, chief executive of Prezzo Italian, the Cain International-backed group, has told Propel that the business is working on a second brand which “you will probably see next year”, had secured a new flagship site in London and was again exploring a quick service restaurant (QSR) format. Speaking at Propels Multi Club Conference, Brown said: “I was hoping to get it away before Christmas, but it is likely you'll probably see a new brand from our business early next year. I want to be really focused, and the team really focused, on the major challenges. We’ve got 96 restaurants that needed a solution, so as exciting as new things are, I really want to make sure we focus on solving the Prezzo problem. But you will see a new brand from us, and it will be Italian. If we move too far away into a different type of cuisine, we move too far away from the core product and supply chain. So, it makes it less efficient, and I think that's a difficult circle to square.” The business returned to the expansion trail earlier this summer, with openings in Edinburgh and Rugby. Brown said: “We will potentially do four new sites in total this year. We may or may not get a central London site away this year. We’ve got the location and we’re pretty chuffed with it. We’re looking at a few and we’ve got a second one to be secured in London as well. When you grow all the way up to nearly 300 sites and then you go down, and you go through multiple CVA processes and you distill, you really learn what works for your business and what doesn’t. So as a new chief executive, I find myself with pretty much all of my restaurants profitable. I’ve got nearly zero tail. We really understand what works for us. It's about remembering that and not being too gung-ho, but also seeing what works and trying to replicate it.” At the start of last year, the company said it was preparing to open its own chain of takeaway pasta shops in train stations – and Propel revealed that it had subsequently trademarked the name Prezzo Pronto. Brown said: “Previously, we’d played with a kind of QSR pasta brand. I have picked that back up. I am playing with it, with no desire to definitely do it next year. But if we play with something and we quite like it, and we think consumers are going to like it, we might do that as well. It won’t be called Prezzo Italian Pronto – it’s got a P in it, but it’s not called Prezzo. People talk about portfolio plays, and we will end up becoming a portfolio business. One of the things I’ve got to think about is what do we call the company? Because we can’t be called Prezzo and have other brands underneath us. We need to think about that – you’ll start to see stuff around the turn of next year.” Brown was among the speakers at Propel Multi-Club Summer Conference. All videos from the conference will be released to Premium members on Friday, 20 September at 9am. Premium subscribers receive all the videos from Propel conferences each year – around 100 in total.

 

Investment market panel to be held at final Propel Multi-Club Conference of 2025, open for bookings: An investment market panel will be held at the final Propel Multi-Club Conference of 2025, which is open for bookings. Andrew Ball, senior hospitality partner at haysmacintyre, will talk to Harry Goss, partner at McWin, Luke Johnson, co-founder and partner of Risk Capital Partners, Yasha Estraikh, associate partner at Piper Private Equity, Lizzie Ryan, managing partner at Imbiba, and David Roberts, partner at CMS McKenna, about the current investment market, where the buyer activity is centred and what the current investment criteria is in a volatile market. The all-day conference takes place on Wednesday, 5 November, at the Millennium Gloucester Hotel in London’s Kensington. Operators can book up to three free places per company while Premium subscribers who are operators can book up to four free places. To book, email kai.kirkman@propelinfo.com.

 

Premium Club subscribers to receive next Who’s Who of UK Hospitality and videos from this month’s Propel Multi-Club Conference on Friday: The next Who’s Who of UK Hospitality will be released to Premium Club subscribers on Friday (19 September), at midday. Another 80 companies have been added to the database, which now features 1,113 companies. This month’s edition will also include 114 updated entries. The companies, listed in alphabetical order, will have their most recent results reported as well as broader information around Ebitda, plans and trading style available. The database merges Companies House information, interviews and other public information to provide an easy to reference and exhaustive guide to the sector. Premium Club subscribers will also receive all the videos from this month’s Propel Multi-Club Conference on Friday, at 9am. They include Jon Lake, managing director of Chopstix, discussing the fast-growing brand’s three-year strategy. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the Multi-Site Database, the New Openings Database, the UK Food and Beverage Franchisor Database and the UK Food and Beverage Franchisee Database. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events and discounts on specialist sector reports. 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 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.

 

Hospitality spend down 2.4% following tube strikes: Hospitality spend in central London fell 2.4% across Monday to Wednesday last week compared to the same period last year, reversing last year’s 3% uplift, following the latest tube strikes, according to new data from payments provider Dojo. The business analysed 2,325,777 transactions across 46,190 locations in London and the commuter belt within the Dojo customer base. Transaction data from the reporting period was compared against spending data from the previous week (week commencing 1 September) and the same period (week commencing 9 September) in the previous year. It found that commuter corridors were hit the hardest, with W, E, EC and WC postcodes seeing 9% less footfall and 10% less spend than the prior week, with the impact most acute on traditional commuter days (Tuesday/Wednesday). On Wednesday evening, central London pubs and bars recorded 9% less spend than the prior week. Spend was 20% lower on Thursday evening, the usual peak after-work drinks slot. Dojo calculated this is 250,000 fewer pints. It said that tourist-heavy districts (Covent Garden, Holborn, St James' Park), shopping centres (both Westfields, Bluewater, Lakeside) and finance hubs (Canary Wharf, Bank, St Paul’s) were among the worst affected. Unsurprisingly, outer London trading saw an uplift. Dojo found that spending rose 5% in the commuter belt on Tuesday as people redirected commuting time into local leisure, although it said that this effect didn’t last into Wednesday.

 

US operator Black Rock Coffee Bar’s IPO exceeds expectations as it raises $294.1m: US brand Black Rock Coffee Bar has raised $294.1m in its initial public offering (IPO) in New York – exceeding its target of $265m. The café brand sold 14.7 million shares at $20, above its marketed range of $16 to $18, gaining a $956.3m valuation – also above the $861m market valuation it predicted at the start of the month. Founded in 2008 by Jeff Hernandez and Daniel Brand, Black Rock now operates 160 company-owned stores across the US states of Arizona, California, Colorado, Idaho, Oregon, Texas and Washington. The brand will use proceeds from the IPO to expand its network of company-owned stores as it seeks to reach 1,000 outlets by 2035. Black Rock achieved 21% revenue growth in 2024 to reach $161m. In August 2025, the operator reported 24% year-on-year revenue growth across the first six months of 2025 to reach $95m, with like-for-like sales increasing 10.1% during the period. Net loss attributable to the company narrowed to $1.9m from $2.3m. Last month, Reuters reported US IPOs have shown a recovery in recent months, buoyed by the successful debuts of several high-profile companies.

 

Job of the day: COREcruitment is working with a five-star luxury estate in Surrey that is seeking a director of guest experience. A COREcruitment spokesperson said: “The business is looking for a visionary leader to elevate the guest journey even further. The role will oversee all aspects of the guest journey – from pre-arrival through to departure – setting and maintaining the highest standards of service excellence. They will act as a visible presence across the estate, anticipating and exceeding guest expectation, developing innovative guest service initiatives that enhance the estate’s reputation for luxury, and more.” The salary is up to £70,000. For more information, email lara@corecruitment.com

 

Exclusive – Pho 2025 group Ebitda up 23% on prior year, current trading strong and three further sites secured: Pho, the Vietnamese restaurant group, led by Pat Marrinan and backed by Trispan, has told Propel that sales and Ebitda for the year to February 2025 increased 11.6% and 23% respectively, supported by six new openings. It comes as the company saw turnover for the year to 23 February 2025 reach £79,350,624 (2024: £71,095,515), with adjusted group Ebitda of £8,821,258 (2024: £7,170,966). The 49-strong business, which recently launched in Tunbridge Wells and Bluewater, opened last week in Christopher Place, St Albans, and will follow that with a site in Cheshire Oaks in October and a site in London's Brunswick Centre shortly after. Propel understands that the business is close to securing a number of strong locations for 2026 in both London and the regions, with plans to open seven new sites next year. The company said that total like-for-like sales for the first eight months of the calendar year were up 3.2%, despite the hottest spring/summer in recent record. Marrinan told Propel: “We’ve had a strong end to the summer with some very encouraging like for likes over the last six or seven weeks, particularly dine-in. Our recent opening in Tunbridge Wells has outperformed expectations which, as a new commuter town site, adds support to future openings like St Albans. Our site in Bluewater is trading extremely well, with sales averaging £65,000 per week since opening in June. Cheshire Oaks will be our 50th restaurant, which is a major milestone for the company, and next year’s pipeline is taking shape, so we are expecting to continue our ambitious growth plans throughout the UK.”

 

Pret CEO – we are exploring drive-thrus, handful of locations in the works: Pret A Manger chief executive Pano Christou has said there is potential for the brand to have up to 400 travel locations and that it was exploring opening drive-thrus. Pret will have gone from one motorway services branch in 2018 to 60 by the end of this year. Another 30 roadside sites will be rolled out next year, and Christou told The Sunday Times there is potential to have 300 to 400 travel locations. Part of this is a shift to drive-thrus. He said: “We are exploring it. Because we think our offer is so different to everyone else.” The company’s first drive-thru is slated to open in the first three months of 2026 and is likely to be operated by a franchise partner at a motorway services, while a handful of drive-thru locations are in the works. However, switching Pret towards travel locations does not mean the chain is turning its back on city centres, Christou explained. He said the company has almost unrivalled insight into office working trends in London and the southeast, and that its analysis shows a gradual reversal of the pandemic trend for working from home. “Whereas last year, the average person came into work just under three days a week, it’s just over three days a week now,” he said. “And I think that is a trend that will continue. Will it get to what it was like before Covid? I don’t know.” While stepping up the search for travel locations, Pret is also focusing updating its existing estate. “Pret has grown over the years, and there is much more competition today than you had back then, so you have lots of shiny things to look at,” Christou said. “We are continuing to invest in remodelling our stores. We were a little bit behind the curve during covid – for obvious reasons, we were managing the cash, so we are a little behind on remodelling. By the end of next year and into 2027, we will be back in the rhythm of how we remodel our stores.”

 

Exclusive – KG Hospitality to launch microbrewery, restaurant, sports bar and live music space in partnership with Meantime in Greenwich: KG Hospitality will this autumn launch a microbrewery, restaurant, sports bar and live music space under one roof, in partnership with Meantime, at Greenwich Peninsula. Opening next month, The Dial – Home of Meantime will be a three-floor destination with a large outdoor terrace and the 360° Bar – a rooftop space with panoramic views. KG Hospitality will operate the venue as part a growing portfolio that includes Pop Brixton and Amazing Grace in London Bridge and Canary Wharf. At the heart of the venue will be a 6HL microbrewery producing experimental beers, including collaborative brews alongside classics from Meantime’s archives. There will be live sports screenings, a weekly live music programme, versatile event spaces and “bold menus”. Sven Hartmann, Meantime’s head brewer, said: “Meantime was founded in Greenwich with the goal of changing the way people thought about beer. At The Dial – Home of Meantime, we’ll take inspiration from that history to keep pushing boundaries in style and flavour.” Vineet Kalra, founder of KG Hospitality, said: “The Dial – Home of Meantime’ marks an exciting new chapter for KG Hospitality. It’s our fourth concept and a space shaped by its location and community.” Laura Flanagan, director at Greenwich Peninsula, added: “The Dial – the Home of Meantime is an exciting addition to our growing neighbourhood. It will offer residents, businesses and visitors alike a new hub for great food, drinks and live entertainment.”

 

Vue hires new CFO ahead of expected IPO: Cinema operator Vue has hired James McArthur as its new chief financial officer, which is expected to pave the way for an eventual stock market listing. Sky News reports that McArthur, the former chief financial and transformation officer at HK Expeditions, the global expedition cruise company, has joined the executive leadership team at Vue. He also worked in a global role at Gensiscare, one of the largest providers of cancer care in Australia. His arrival will come as the shareholders who took control of the chain in a post-pandemic financial restructuring prepare to explore options for the business in the next 12 months. He will work with Tim Rchards, the founder and chief executive of Vue, which is currently active in eight countries, with 226 sites and 1,978 screens. Richards said: “I’m thrilled to welcome James to Vue as we look ahead to the beginning of a new era of cinema going. With our expanding estate, growing slate and fast-paced programme of investments and innovations, his experience and expertise come at the perfect time.” McArthur said: “I’m delighted to be joining Vue at such an exciting time for the organization and as the wider industry continues to gather momentum. I am humbled to be joining a world class team with a unique pipeline of initiatives to build on Vue’s market leadership across European cinema.” Last month, Vue opened the second site under its new “Epic by Vue” format, in West Yorkshire. The new larger format experience opened at Xscape Yorkshire in Castleford after Vue acquired the former Cineworld site earlier this year. Alongside Epic, Vue Castleford has 13 other screens, each featuring VIP seating. The first opening under the Epic format was in Nottingham earlier this summer.

The Ivy Collection to open five new sites before year-end: The Ivy Collection, the Richard Caring-backed restaurant brand, is to open five new sites before the end of the year, as it nears the 50-site mark. The company will open its next site, its 44th, at the end of this month (30 September) – The Ivy Northcote Road, on the Old Bank pub site in Battersea. It will follow this up with the opening of The Ivy Nottingham, on the former Hugo Boss store in Bridlesmith Gate, for what will be its debut in the East Midlands. The business will then open two Ivy Asia sites, in Liverpool and Dublin. It will finish the year off with the opening of the fifth site under its Harry’s Bar and Restaurant concept, on the former Tuttons site in London’s Covent Garden.

Coco Di Mama to extend retail reach with Tesco partnership: Coco di Mama, the Italian food-to-go brand owned by ASK Italian, Zizzi and Boojum operator Azzurri Group, is set to build on its omnichannel success with the launch of a new range of freshly made Italian sourdough sandwiches across Tesco’s premium meal deal section in more than 1,000 UK stores. The launch follows a successful debut year in retail, with its range in Sainsbury’s £5.50 meal deal range. Since entering the grocery market in 2024, the brand said it has expanded rapidly, growing to 11 product lines in over 2,000 outlets – with 6,000-plus SKU listings with a retail sales value of circa £50m annually. Sara McKennedy, commercial brand director for Coco di Mama, said: “Coco di Mama’s retail growth over the past year has proven that a brand born to serve hungry City workers with high-quality, Italian breakfast and lunch options can resonate just as strongly in the supermarket aisle as it does in our stores, unlocking a significant new avenue of growth. We’re pleased with the progress we’re making in transforming the business into an omnichannel brand and, with exciting growth plans on the horizon, it feels like we’re only at the beginning of a bold journey for Coco di Mama.”

Hydes – ‘performance in the last 21 months has laid a strong foundation’, reports record turnover: North west brewer and retailer Hydes has said its performance in the last 21 months has “laid a strong foundation” after reporting record turnover for the year to 31 March 2025. The company’s turnover was £40,805,736 compared to £39,295,640. It made a £10,054 gain on disposal of assets, but its pre-tax profit was down from £1,935,948 to £1,404,868. The company reported Ebitda before exceptional items of £4.5m, which it said was a decrease on the previous year of £300,000, “though above our expectations given the end of our fixed term energy contracts, an above inflation increase in minimum wage and continued cost of living concerns.” Non-executive chairman Richard Lancaster said: “Another above inflation lift in the national minimum wage and significantly higher national insurance costs mean strong headwinds remain for the new financial year. Allied to this is a fall in consumer confidence driven by above inflation rises across a host of household bills, which is sure to put pressure on disposable income and in turn our sales line. However, actions taken and our performance in the last 21 months has laid a strong foundation for the new financial year.” Lancaster said that while the company was “delighted” to report another year of record turnover, “converting a strong sales performance to profit is becoming more challenging each year”. He said that while “significant cost challenges” had led to a “marginal decline in profits”, this still “outperformed our expectations”. Hydes owns 31 managed and 15 tenanted pubs across the north west of England and north Wales. Lancaster said the majority of the sales growth was delivered through the performance of the company’s managed estate, with overall managed pubs sales 4% higher than prior year, and up 6% on a like for like basis. Food sites were responsible for the largest proportion of the sales growth. Profit in the managed pub estate was down £500,000 but this was “entirely due to the increase in energy costs”. Occupancy levels in the Abel Heywood and the Wilmslow Lodge remained strong at 93% and 89% respectively. Lancaster said the same cost challenges faced by the managed estate were also evident in the tenanted sites, “so it was very pleasing to see them outperform the sales and profit performance from the prior year again”. A revolving credit facility of £16m and a floating to fixed interest rate swap of £8m were both due to expire in June and have been extended to June 2027. Of the £16m facility, £12,900,000 had been drawn at the year end.

Mercato Metropolitano plans Oval site: London community food market Mercato Metropolitano, which currently operates three sites in the capital – at Elephant & Castle, Wood Wharf and Mayfair – is in talks to open a fourth site. The business, which previously also operated in Ilford and Elephant Park, is currently in talks to develop a site in Oval. The new venture will be on the vacant Gloucester House site, and Workspace – the provider of commercial business premises – has been exploring the best use for the space to benefit both tenants and the local community. Propel understands that part of the proposed development will be Mercato Oval – “a vibrant hub, offering diverse food, social spaces, and opportunities for local businesses”. In a report by the developer stated: “By prioritising sustainably sourced food and supporting local artisans and producers, Mercato Oval will offer an immersive experience that blends education, community events and cultural activities. Mercato Oval will be home to several food-trading artisans, a curated retail shop and a vibrant enclosed outdoor space, and will create a dynamic community and a welcoming cultural hub where people can gather, connect and enjoy the simple pleasures of good food. From fresh, farm-grown ingredients to handmade delicacies, each offering will be a commitment to quality, health and heritage.” 

PizzaExpress opens third Pod site: PizzaExpress, the Paula MacKenzie-led business, has opened a third site under its new Pod format in partnership with Tesco. As revealed by Propel in April, the business has opened the new Pod site at the Tesco Extra in Cheshunt. PizzaExpress launched its first Pod format site, in the car park of the Tesco Extra in Southampton, last November, with a further site opening earlier this year in Swansea Marina. Positioned outside the Tesco Extra’s main entrance, the Pod allows consumers to order and collect when on the move, ordering from an open kitchen and collection window. The launch of PizzaExpress’ Cheshunt Pod mark’s the brand’s seventh opening so far in 2025, in what is its milestone 60th year. 

Chef Josh Eggleton to open third Root site: Chef Josh Eggleton is to open a third site under his “modern, veg-led, sharing plates” concept Root, in Bath. Root was created in 2017 by Josh and his sister Holly as part of The Pony Group, the family’s collection of hospitality businesses in the south west. The first Root opened in Bristol’s Wapping Wharf, taking over a shipping container site originally used as a temporary space for Josh’s former Michelin-starred pub, The Pony and Trap. A further site under the concept opened at the end of 2022 in Wells, Somerset. The latest site will open next month at the relaunch of the Shires Yard development, formerly Milsom Place, Bath, on the former Jamie’s Italian site – a double-height space spread across two floors with the addition of a rooftop terrace. It will be the largest Root to date. Eggleton said: “We’re incredibly excited to bring Root to Bath. The city’s food scene has gone from strength to strength, and Shires Yard is the perfect home for Root’s next chapter.” The Pony Group also includes Salt & Malt in Chew Valley and Wapping Wharf in Bristol, The Kensington Arms in Bristol and The Pelican in Chew Magna.

Owner of five-star London hotel The Westbury falls to £41.5m loss with transformation now set to cost more than twice original amount at £200m, secures £778m loan: The owner of the five-star The Westbury in London’s Mayfair fell to a loss of £41.5m as the property remained shut for a transformation that is now set to cost £200m – more than twice the original amount. The building, on the corner of Conduit Street and Bond Street in Mayfair, closed in 2023 after owner Cola Group agreed a deal with Marriott International that will see the property become the UK’s first St Regis hotel. Having originally been scheduled to open in December 2024 at a cost of £90m, Cola Group’s accounts for the year ending 30 September 2024 revealed the project is now expected to be completed in December 2025 “with a budgeted cost of circa £200m”. The accounts also revealed in January 2025, the group completed a refinancing that saw it secure a loan of £778m that is due for repayment after an initial 24-month period with the option of a further 12-month extension. Cola Group – which also operates Kensington Close Hotel – reported turnover increased to £59,111,000 for the year ending 30 September 2024 compared with £56,347,000 the year before. Pre-covid, the group was turning over £75m. The company posted a pre-tax loss of £45,057,000 compared with a profit of £1,408,000 the previous year. Revenue per available room at the Kensington Close Hotel increased 4% to £127 from £122 the previous year. Occupancy remained at 96%, while average room rate grew 4% to £132 from £127 the year before. In their report accompanying the accounts, the directors stated: “The performance has deteriorated from the prior year, largely as a result of the group’s financing activities including fair value losses from the interest rate swap and interest rate caps in place.” No dividend was paid (2023: nil). Cola Group is owned by Kurdish-born millionaire Bakir Cola and run by his son, Azad.

 

Three Cheers Pub Co to next month open first new pub in London’s Kings Road in more than 100 years: Three Cheers Pub Co, led by former schoolfriends Tom Peake, Mark Reynolds and Nick Fox, will next month open the first new pub in the Kings Road in London’s Chelsea in more than 100 years. The company acquired the lease for the grade II-listed former banking hall at 224-226 King’s Road in April, which it has since transformed into its tenth pub via a £2.4m investment. The Trafalgar Public House will now open in October, spread across two floors. The ground floor will be “a stunning British pub serving excellent food and drink”, while downstairs will be “dedicated to live entertainment and private parties in keeping with King’s Road’s vibrant history”. Peake said: “We are delighted to be taking on this historic site and creating a wonderful new public house, a home from home for Chelsea locals and visitors alike. We are proud to be a part of this exciting development and look forward to bringing a real sense of community and connection to the area that only a proper British pub can.” Hugh Seaborn, chief executive of landlord Cadogan, added: “The Trafalgar will be a great addition to the King’s Road. Pubs are a central part of community life, and we are proud to be reintroducing not just a brilliant pub, but one that will contribute towards Chelsea’s fantastic arts scene with unmissable music, theatre, comedy and performance.”

 

Amsterdam restaurant opens London outpost: Nela, the Amsterdam restaurant founded by chefs Hari Shetty and Ori Geller and British entrepreneur Gilad Hayeem, has opened its London outpost. Launching at The Whiteley in London’s Bayswater, it is a third location for the brand following a recent launch in Ibiza. A menu of flame-cooked signatures, inspired by a blend of locally and globally sourced ingredients, is divided into two sections. Dishes include yellowtail with burnt aubergine, oysters with fermented chilli, Scottish short-rib and half lobster with Guajillo butter and mandarin. There is also an extensive wine list, with unique offerings from around the world, alongside classic and innovative cocktails. The 175-cover restaurant also has a private dining room that can fit 32, as well as a terrace on the rotunda for al fresco dining.

 

Dubai operator Admo opens first London site for its rooftop bar and restaurant brand: Dubai operator Admo Lifestyle Holding has opened the first site for its rooftop bar and restaurant brand, CeLa Vi. The opening, at Paddington Square, also marks a European debut for the brand, having launched in Singapore, Dubai, Taipei and Tokyo. A “bold and contemporary menu rooted in modern Asian cuisine” offers dishes such as miso seabass with Szechuan green chilli sauce, crispy red snapper and Wagyu beef tataki with truffle ponzu. The venue is spread across two levels, with an outdoor terrace for alfresco dining, plus a 17th floor restaurant, bar and lounge. There is also an open central bar offering “craft cocktails with an Asian sensibility”, alongside a list of rare wine and seasonal sake. On the 18th floor is a private dining room for up to 14 guests, offering floor-to-ceiling views over London’s skyline. A lounge bar on the same floor features live DJs and curated performances. Admo’s portfolio of brands also includes Nammos and Clap, which has a site in London. In April, the company launched Clap Ka-fe at the same building as Clap – 12-14 Basil Street in Knightsbridge. Based on the ground floor, Clap Ka-fe is a more casual concept than Clap, which is located on the top floor.

 

PureGym opens new site in Birmingham scheme: PureGym, Britain’s biggest health and fitness club operator, has opened a new site in Birmingham, in Edgbaston. The company has opened the 8,737 square-foot venue at Patrizia’s Corkfield development, having signed a 15-year lease for two adjoining units. Located next to Edgbaston cricket stadium, the mixed-use Corkfield scheme features 375 apartments alongside 15,000 square feet of retail and leisure space. Duncan Costin, property director at PureGym, said: “We’re thrilled to open our new Edgbaston gym, conveniently located next to the stadium. The gym offers 24/7 access to affordable, high-quality fitness facilities.” The company, which operates around 700 sites, is aiming to open circa 70 new gyms globally in 2025. The 2025 Experiential Leisure report, the second year of Propel’s exhaustive report on the market, is now available to Premium subscribers. 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.

 

Norfolk bakery business opens ninth site: Norfolk bakery business Flour & Bean has opened its ninth site. It has opened within the Cherry Lane South View Garden Centre in Fritton, near Great Yarmouth, selling bread, sausage rolls, sweet treats and freshly filled baguettes. Flour & Bean began life in 1993 when husband-and-wife team David and Lorraine Langchild launched the craft bakery The Bakehouse. It rebranded as Flour & Bean in 2009, refocusing on an enhanced coffee and freshly prepared sandwich offering. Flour & Bean has shops in Aylesham, Dereham, Diss, Fakenham, Gorleston, Potter Heigham and two within Norwich airport – at check-in and in the departures lounge. Work is also ongoing to reopen the former Norwich branch in Colman Road.

Bedford operator set to open third hospitality site in the town and share profits with staff: Bedford operator Peter McCormack is set to open a third hospitality site in the town and share the profits with its staff. The as-yet-unnamed pizza restaurant will open in the former Mercy in Action shop on the corner of Mill Street and Bedford High Street, offering large, shareable pizzas and individual slices for takeaway. The Bedford Independent reports that 15% of profits will be shared among the restaurant’s staff, with a further 15% given to local causes, and the remaining 70% reinvested into growing the business and supporting other local ventures. McCormack also owns The Auction Room cocktail bar and the Real Coffee coffee shop in the town. He said: “Bedford doesn’t just need new restaurants, it needs businesses that give back,” he said. “I want to be part of the town’s renewal and help create opportunities for others. Every slice our customers buy will support staff and help fund projects that make Bedford a better place to live.” McCormack, who made his name as a Bitcoin entrepreneur, is also the owner of local football club, Real Bedford FC.

Casino operator to focus on Birmingham site after shutting underperforming Bristol location: Casino operator Rainbow Casinos has said it will now focus on its Birmingham site after shutting its underperforming Bristol location. The company took the decision to close the Bristol casino as it has struggled with footfall since covid, and is now seeking a tenant for the site. By contrast, it said the performance of its Birmingham venue has been “outstanding” and shown strong revenue growth. Director Hui Hoang Lam said: “The financial results reported were better than forecasted, and we believe that our management team can continue driving the business forward through the current and future environment. Predominately, this was due to the outstanding performance of Birmingham over the year, with strong growth in revenues. Bristol's attempted revival of fortunes since covid has proved unachievable, with factors such as the fall in attendances for large night-time venues in the city centre leading to its closure in December 2024. Continued shareholder financial support, as well rental payments from landlords not being demanded, has enabled the company to meet other external liabilities when they fall due. Going forward, the company will focus on Birmingham, with Bristol now closed to enable savings to be made to head office costs, with the expectation of finding a tenant for the Bristol lease. Assistance in the form of additional short-term funding from shareholders has allowed the clearance of rent arrears, with the agreement of a lease extension at Bristol to enable the company to more easily source a tenant.” In April, the company received shareholder loans of £750,000 to fund the repayment of accrued rent at the Bristol site and costs associated with its closure, with repayments to commence after a review of the cash position in January 2026. In the year leading up to the Bristol closure, ending 25 August 2024, the company’s turnover grew from £11,707,117 in 2023 to £13,099,338. This despite the 2023 figure including £836,299 from discontinued operations relating to its former Aberdeen site, which closed during that year. Its pre-tax loss narrowed from £6,147,014 in 2023 to £808,006 – despite a £30,000 loss on disposal of the Aberdeen site. Adjusted Ebitda swung from a loss of £650,058 in 2023 to a profit of £1,748,424. No dividend was paid (2023: nil).