All MCA Insight articles in August 2022 – Page 10
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Interviews
Clean Kitchen Club: ‘We want to be one of the fastest to reach 1,000 sites’
Co-founder and CEO Mikey Pearce speaks to MCA about expanding nationally and globally, securing backing from high-profile investors, and building a brand during a pandemic
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Analysis & Insight
Nearly two-thirds of top restaurant groups making loss
A record 64% of the UK’s top 100 restaurant companies are now making a loss, according to new research from accountancy group UHY Hacker Young.
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News
Heart with Smart reduces losses by £28.5m
The franchise operator of Pizza Hut Restaurants and Itsu believes market fundamentals continue to be strong and is actively seeking additional brand partners alongside the acceleration of its openings strategy for Itsu
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News
Government must act decisively, says UKH
The trade body has warned there will be further casualties in the sector as the impact of rising interest rates and energy prices start to bite
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News
Clean Kitchen appoints new MD
Thomas Foulser, former head of commercial and associate director at Inception Group, has joined the plant-based food company which launches a Seedrs crowdfund campaign next week
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Analysis & Insight
Business leaders’ confidence plummets
Only 23% of business leaders are confident about the next 12 months for the overall hospitality sector, according to the latest CGA and Fourth Business Confidence Survey
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Interviews
Nightcap: ‘We’re focused on providing good times and good value’
The late night operator plans to open 13 bars by next summer amidst soaring revenues, co-founder Michael Toxvaerd tells MCA
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News
Costa targeting 500 drive-thrus by 2025
The coffee shop business has just opened its 300th drive-thru, one of 60 planned to open in 2022 as part of a £20m investment in the format
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News
Gordon Ramsay Restaurants makes £6.8m pre-tax loss
The group, which added 10 restaurants to its portfolio in the last financial year, said it remained committed to its growth strategy
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News
In pictures: Gusto’s new-look Edinburgh restaurant
Gusto Italian has reopened its restaurant on Edinburgh’s George Street following a £250k redesign
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News
KFC UK reports quarterly sales decline
In a financial update, Yum! Brands reported a quarterly sales decline of 8% at KFC UK & Ireland, and a 1% decline in the year to date
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News
Nightcap revenues soar beyond pre-pandemic levels
In its year-end trading update, the Adventure Bar group and Barrio Familia owner reported a 73.2% revenue increase in Q4 of FY2022, compared to 2019
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News
Gong cha appoints global CEO
Based out of London, Paul Reynish will be tasked with growing the bubble tea brand’s UK and European estate, with ambitions for a new site every day
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News
Grubhub value slashed by half
Just Eat Takeaway has written down the value of its US subsidiary by €3bn, a year after buying the food delivery group
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News
Baton Berisha to join Wolseley Hospitality Group as CEO
He leaves D&D London as MD after a “whirlwind romance” of just three months in the role, to join the group formerly known as Corbin & King. Meanwhile Zuleika Fennell is understood to be leaving her role as MD of the Wolseley group
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News
MCA Restaurant’s Conference reveals stellar line-up
McDonald’s COO Gareth Pearson, Mowgli founder Nisha Katona and JKS Restaurants CEO Jyotin Sethi join the conference on 22 September
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News
D&D revenues yet to return to pre-Covid levels
The restaurant group said revenues in the UK were at 91% of pre-Covid levels but that the business was well placed to “significantly scale up” in the UK and overseas
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Interviews
Ego Restaurants: ‘We’re building cash now, to expand next year’
CEO James Horler tells MCA that with current cost pressures, expansion plans are being put on hold until next spring
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Interviews
Papa John’s: ‘There are opportunities everywhere’
Amit Pancholi, UK director of business development, speaks to MCA about growing the brand’s presence on the high street and beyond
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News
McWin Restaurant Fund raises €500m
The fund, led by Henry McGovern and Steven Winegar – backers of Gail’s and Vapiano – has secured backing from the Abu Dhabi Investment Authority