This week’s Diary includes Five Guys stretching its wings, Pizza Pilgrims garnering interest, slackers at Balthazar, and fresh insights into the student market.
No messing around
Five Guys, the popular US burger chain, will open its first site in the UK later this spring in the former Long Acre bar unit in Covent Garden. All well and good, but Diary hears that the group is not about to rest on its laurels and further sites are set to be secured over the coming months, both in central London, Greater London, such as Greenwich, and also in the regions, starting it is thought with Reading. Diary understands that the chain, which believes it could eventually match the c270-estate Nando’s currently operates in the UK, is close to securing a unit in Reading’s Oracle shopping centre for a summer launch.
LiverBrew
Talking of new sites, BrewDog is one operator that likes to tease its followers about potential new bar openings. Co-founder James Watt gave a clear indication in a Tweet today: “Would Parr Street be a good location for BrewDog Liverpool?” We’ll wait and see.
Pilgrims in pole position
Diary is looking forward to the opening of the first permanent site from Pizza Pilgrims in Soho’s Dean Street next month. The Rupert Clevely-chaired concept should make a good addition to the current ‘better pizza’ movement. If all goes well it could be a chain in the making and with a good headwind could one day garner interest from private equity players. If it does it should have plenty of in-house advise to fall back on, as Diary understands that at least three of the sector’s leading deal advisers have taken stakes in the business.
Balthazar bulletin
While the battle between Balthazar founder Keith McNally and UK restaurant critics continues, an interesting aside has been thrown up around the issue of attitudes to working in the sector. According to McNally, when he opened the original Balthazar in New York, the restaurant employed 70 members of staff a day during a probation period lasting three months. In that time only five of those employees were absent for a day or more. Fast forward to the UK opening and out of another c70 staff, the restaurant counted five absentees in the first week. It seems even the chance to work at one of the most high-profile restaurants in the capital and learn from someone as highly-regarded as McNally can’t shake some people’s allergic reaction to hard work!
Student pound
M&C Report has been taking a close look at the student market this month, and Diary caught up with John Leslie, chief executive of Walkabout operator Intertain, to seek his views. Leslie pointed to some down-beat statistics - one in five students now live at home, and the overall number of 18 to 20 year-olds is due to fall by 13% by 2020 - but added: “It’s not necessarily all bad.” He highlighted the fact there are “two markets” operating within the student segment. While freshers typically like to enjoy themselves “in a big way”, second and third years want a “slightly different experience”, something “slightly more upmarket”. And they spend more; first years spend an average of £22 per session, while their more seasoned counterparts spend £30. Food for thought.
Streets of London
There’s a strange atmosphere in London today, with the combination of disruption and intense feelings caused by Baroness Thatcher’s funeral and sense of unease following the terrorist attack in Boston amid preparations for Sunday’s marathon in the capital. Early signs suggest that the former event may have had an affect on trading in central London. A Tweet from the restaurant chain Benito’s Hat this morning said: “Streets feel pretty quiet. Are people really not coming in to work today cos of the funeral?”
