All MCA Insight articles in April 2024 – Page 7
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NewsCrêpeaffaire seeks new franchise partners
The quick-service crêpe brand has appointed property adviser, Christie & Co to support its UK expansion plans
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NewsReforming business rates ‘an ideal place to start’ for hospitality
The Labour Party has announced its plan for high streets, including replacing business rates with a new system of business property taxation “which rebalances the burden and levels the playing field”
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NewsPortobello Pub Company acquires Darwin & Wallace
The London bar operator will continue to operate under the same name, with founder Marriott to step down from day-to-day operations, and the enlarged group led by Richard Stringer, managing director of Portobello
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NewsTasty to exit 20 loss-making sites
The Wildwood and Dim T restaurant operator has announced a £750,000 loan agreement with Bet365 shareholder Will Roseff to fund a planned restructure
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Analysis & InsightWet weather dampens restaurant sales
Restaurants spend was down -12.6% in March, while pubs, bars and clubs saw stronger growth than in February, at 3.2%.
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NewsWendy’s lines up seven new openings
The American burger chain will open new restaurants in Liverpool, Newcastle, Middlesborough, Newcastle, Essex, London and Cambridge later this year
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InterviewsLittle Caesars sets sights on bigger city locations
The US pizza chain sees the UK as a key market for global expansion with a vision to develop 20 stores in the next five to six years, according to Carlos Vidal, VP of International Development.
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NewsStonegate seeing ‘material improvements in profitability’
The group delivered a “highly respectable performance”, with Craft Union enjoying 28% turnover growth. Total evenues grew by 6.7% but adjusted EBITDA was down 6.25%, due to macroeconomic challenges
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NewsRevolution Bars close to finalising rescue fundraising
The owner of Peach Pubs and Revolucion de Cuba is close to securing £10m equity funding from investors including Luke Johnson, Sky News reports
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NewsSessions receives £3m Guinness Ventures backing
The food brand licensing platform will use its new seven-figure backing to launch a franchising arm with brands including SoBe Burger
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NewsRed Engine secures £60m to fund expansion
The experiential leisure operator is looking towards eight openings in 2024, including Electric Shuffle Manchester and New York and Flight Club Liverpool and Oxford
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NewsWahaca: ‘The market for Mexican cuisine will continue to evolve’
CEO Mark Selby speaks to MCA about returning to the expansion trail for the first time since 2018, refining the brand for a more elevated experience, and Wahaca’s status as a ’premium casual’ operator leading the Mexican category
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NewsRedCat posts £30m loss
The Rooney Anand-chaired pub company said despite economic challenges and a number of closures, it saw opportunities to grow amid sector headwinds
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NewsStarbucks UK plans 100 stores in 2024
Starbucks said it has continued to see growth in the UK coffee market, in spite of the macroeconomic conditions that have impacted the market
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NewsStarbucks paid £7.2m in UK corporation tax despite gross profit of £149m
‘Derisorily low’ tax bill again down to high royalty and licensing payments to parent company, The Guardian reports
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NewsInnovate or die, says hospitality veteran
New technology and processes ‘should be part of the solution for hospitality businesses’, Turtle Bay chair Jane O’Riordan tells The Times
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NewsJoe Lewis avoided jail. What now for his business empire?
The British billionaire and Mitchells & Butlers investor has been put on probation after admitting he orchestrated insider trading, The Sunday Times reports
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NewsOpenings of the week
MCA rounds up the week’s biggest openings stories, including Gong Cha, Robinsons Brewery, Two Magpies Bakery and J D Wetherspoon
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NewsSmoothie Factory launches UK franchise push
The Texas-born juice-bar brand operates in 18 countries and looks to expand its presence in the UK after its entry into the market with an inaugral store in Belfast
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NewsDomino’s reveals new nutrition strategy
Following a successful trial, the pizza giant will roll out a new, lower-calorie lunch menu, reformulate existing items to reduce calories, and develop new plant-based options