All MCA Insight articles in April 2022 – Page 6
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News
Minor appoints advisory board for UK portfolio
MINT said the board would provide guidance on strategic decisions to “balance growth and legacy” for all its businesses in the UK, which now includes Corbin & King
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News
Deliveroo shares fall just short of new low
Shares in the delivery business fell 1.1% yesterday, to close at 108¼p, less than a third of the 390p at which they were listed last March, despite growth in GTV and order volumes in Q1
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News
Swingers forecasts £22m UK revenue this year
The business will launch its second venue in Washington DC in February 2023, as part of plans to open three locations next year as it looks to expand in the UK and US
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News
Arc Inspirations secures £19m investment from BGF
The northern bar operator is looking to double its 18-strong footprint over the next three to five years, by continuing its cluster strategy of opening multiple venues in major UK cities, across its three brands
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News
Hugh Osmond: ‘Shutdown cannot be the automatic government response’
If complete closure of the hospitality sector becomes the automatic response to further outbreaks of Coronavirus, “the sector will become un-investable”, the founder of PizzaExpress has warned
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Interviews
‘We’re not here to change the business model’ - Minor on Corbin & King’s future
Rumours of mass expansion, and swathes of the industry publicly voicing their displeasure – the battle for Corbin & King has been ugly. But having acquired full control, what are Minor International’s plans for the restaurant group?
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News
Portobello Starboard secures £40m lending facility
The cash injection from OakNorth will go towards acquiring and expanding pubs, and was secured by Portobello’s private equity backer, Zetland Capital
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News
Stonegate reshapes marketing team
Melissa Wisdom has been promoted to sales and marketing director as part of a restructure following the departure of marketing director Nicola Pryce
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Interviews
Henry McGovern: ‘Gail’s can be an iconic British brand’
The Gail’s Bakery chairman and AmRest founder tells MCA he believes there is scope to double or triple the the brand’s presence in the UK, following its Deal of the Year win at the Retailers’ Retailer Awards
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News
Deliveroo: ‘Consumer behaviour may moderate during the year’
The delivery platform achieved “solid growth” in Q1 2022 against the previous year, when lockdown restrictions were in place
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News
Adnams rewards loyal staff
The Suffolk-based brewer, pub and hotel operator is repaying staff who took salary reductions during the pandemic
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Analysis & Insight
Pub spending up 41% in March
The surge follows the the lifting of all remaining restrictions at the end of February, and warm weather, which encouraged people to go out for a drink
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News
Patty & Bun rolls out Sidechick as delivery-only
Founder Joe Grossman tells MCA with delivery acounting for 20% of sales, all restaurants would have the chicken-focused concept as a virtual brand
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News
Foodservice price inflation hits 10.2%
Oils and fats were up 56% in February while fish, fruit, dairy, and soft drinks were up more than 20%
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Interviews
Tortilla: Change in planning law ‘hugely beneficial’
From former retail units to new franchise partners, the fast casual Mexican brand is “pushing all avenues” to reach its target of 45 new sites by 2026
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News
Pret secures new agreement for Irish expansion
An agreement of terms has been reached with existing franchise partner Carebook which will see 20 Pret shops opened across Ireland over the next decade
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News
Whitbread CEO forgoes bonus over furlough row
Last year the FTSE 100 group came under fire over bonuses after it took £370m in furlough payments and business rates relief which it has not repaid
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News
Ghetto Golf operator secures £5m from Imbiba
Big Fang Collective, which operates Ghetto Golf, Golf Fang and Birdies Bar brands, will use the funding to continue its UK expansion which includes seven new sites over the next two years
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News
Tortilla to accelerate expansion on the back of significant revenue growth
The fast-casual Mexican brand, which listed on AIM in October, achieved revenue growth of +79.5% in the full year to 2 January 2022, with its strong trading momentum continuing post year-end
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News
‘There are no staff’: desperate restaurants feel the heat as shortages bite
Stretched hospitality firms go to extreme lengths to find staff amid fears they will not cope with an influx of summer tourists, The Telegraph reports