Finance – Page 9
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NewsSocial golf concept Pitch looks to drive expansion through franchising
The competitive socialising brand has partnered with Presman & Colard to accelerate its expansion through franchising following ‘impressive’ year on year growth
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InterviewsFreight Island: ‘We really want to be adding to a city if we open there’
Managing director Dan Morris tells MCA about the group’s plans to quadruple the size of its estate over the next 18 months with openings in London, Newcastle and Leeds
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InterviewsVarious Eateries: ‘We’ve had an unprecedented number of opportunities come our way’
The group is exploring a number of prime sites for Coppa Club and Noci, with the conversion of its three single-site brands also on the cards as it consolidates the business, CEO Mark Loughborough told MCA.
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NewsGrind reports ‘another strong year of growth’ on the high street
The omnichannel coffee brand, which recently completed a £7.5m funding round, increased turnover by c.19%, with its coffee shops, restaurants and bars performing well, but ultimately losses widened last year
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NewsCornish Bakery delivers another record year
The independent bakery chain delivered a 24% increase in sales to £36.4m and will reach a 79-strong estate by spring - but bemoaned the ”lack of proper leadership” from the government
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NewsWingstop further strengthens senior team with group finance director appointment
Alistair Fraser, who previously held senior roles at Burger King and Whitbread, will oversee the finance function at the fast-growing fried chicken chain
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NewsBoxpark ‘assessing alternative formats’ as losses widen
Despite a small uptick in turnover, the street food and retail group saw pre-tax losses widen from £3.8m to £12m following ‘a challenging year’
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NewsVarious Eateries swings to positive LFL growth
The company is actively exploring new Coppa Club sites, where the opportunity is most compelling in the current market, alongside continued development of Noci
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NewsUrban Pubs & Bars ‘highly profitable and well-funded’
The fast-growing London-based operator reported sales growth of 32.6% last year, ahead of a number of new acquisitions
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NewsLane7 appoints first chairman
MD Gavin Hughes said the competitive socialising sector is entering a period of consolidation, with a clear opportunity for the boutqiue bowling operator to gain market share
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NewsXP Factory revises down profit forecasts and slows new openings
The experiential leisure industry suffered negative LFL sales growth in the calendar year 2025 of around -9%, according to independent data
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Weekend PressAshton Kutcher joins the board of Soho House as it goes private
Hollywood star invests in members’ club and joins consortium led by billionaire Ron Burkle as it completes $2.7 billion takeover of the London-based business, The Sunday Times reports
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OpinionFull circle as Revolution Bars join Neos Hospitality
As Neos Hospitality acquires 20 Revolution and Revolución de Cuba sites out of administration, it’s just the latest in a series of talks the parties have held over the years about joining forces
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NewsCôte Restaurants reports £153m turnover
The French-inspired brasserie group achieved 4.1% like-for-like sales growth in FY24, supported by menu innovation and estate refurbishments, though pre-tax losses widened
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NewsSoho House completes deal to go private
The private members’ club business has completed the $2.7bn deal, in a move that CEO Andrew Carnie said ”gives us the freedom to focus on what Soho House has always been about”
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NewsFederal Café receives £3m investment, appoints Karen Jones as chairperson
Foresight Group will support the brunch-focused café operator’s regional rollout, with Dame Karen Jones joining to support the management team
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Analysis & InsightAnand just like that… has RedCat finally landed on its feet?
The Rooney Anand founded business is exiting its managed estate and bringing together its pubs-with-rooms sites into one division, a canny move that presents significant opportunities
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NewsFoodservice price inflation accelerates in December as festive demand peaks
The Foodservice Price Index notes the rise in food and drink prices was driven by high demand for many items in the run-up to Christmas, as well as persistent supply-side constraints
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NewsBoojum announces ‘biggest menu change in its history’
The Mexican QSR chain is introducing eight new ‘chef curated signature dishes’ to its menu alongside that it says are ‘designed to make ordering faster and easier than ever’
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NewsPesto increases like-for-likes
The 12-strong restaurant group, part of Mitchells & Butlers, reported profit before tax of £1.8m, down from £2.1m the prior year