All articles by Georgi Gyton – Page 42
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NewsSticks ‘n’ Sushi appoints new CFO
Former Azzurri Group finance director Kushal Banerjee joins the Denmark-based, Japanese-inspired restaurant group as it looks to expand
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Analysis & Insight‘Still lots of whitespace for Loungers’
Despite continuing to expand at pace – with 17 new sites opened in the 24 weeks to 6 October – analyst Berenberg is confident it still has “significant amounts of white space in which to roll out sites”
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NewsOpenings of the week
MCA rounds up the biggest openings stories from the past week, featuring Loungers, Savage Eats by Revolution Bars Group, Bubbleology and more
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NewsLucky Voice launches new ‘inclusive’ drinks offering
The new menu, spearheaded by newly appointed head of operations Steve Little, features 18 new cocktails and mocktails, and has been launched in response to growing demand for low and no-alcohol drink options
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NewsRichard Franks steps down as HOP Vietnamese MD
Founder Paul Hopper has resumed his role as MD as the business moves into the next phase of its growth strategy
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NewsPub sector warns of ‘end of affordable pint’
Brewers and pub operators have warned Chancellor Rachel Reeves that increasing tax on alcohol and pubs in this month’s Budget could result in closures as businesses have “nothing left to give”
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NewsXP Factory secures new £10m bank facility
The experiential leisure operator said the new revolving credit facility would give it the flexibility and capacity to grow both its Boom Battle Bar and Escape Hunt estates.
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Analysis & InsightUnlocking potential: How hospitality operators are giving prison leavers a second chance
With prisons in England and Scotland nearing maximum capacity, and amid high re-offending rates, could the labour-challenged hospitality sector play a part in the rehabilitative solution? MCA speaks to operators working with prisoners looking to turn their life around, featuring Greene King, Pret and Redemption Roasters
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NewsMarston’s achieves 4.8% rise in like-for-likes
The pub operator reported total retail sales for its managed and franchised pubs of +5.8% for the 52 weeks to 28 September 2024, with food sales particularly encouraging.
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NewsCUPP to launch hot food offering
The Taiwanese bubble tea brand will begin rolling out an Asian-inspired hot food menu across its estate later this month
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NewsOpenings of the week
MCA rounds-up this week’s latest openings stories, featuring Boojum, Heartwood Collection, Popeyes, Heavenly Desserts and more
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NewsAmy Lamé resigns as London’s night czar
Lamé was appointed by London mayor Sadiq Khan in 2016, but has faced criticism for her generous remuneration package and ability to make meaningful progress in boosting the capital’s nighttime economy.
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NewsGreggs: ‘There is more we can do on delivery’
Opening shops in new catchment areas and the expansion of its delivery partners’ remit is helping the retailer to reach new and existing customers, Greggs’ CEO Roisin Currie tells MCA.
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NewsFarmer J looking to accelerate expansion next year
The business is looking to capitalise on the +20% like-for-like growth it has achieved so far this year, with six to eight London openings planned in 2025, founder Jonathan Recanati tells MCA
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NewsFoodservice inflation continues to see year-on-year decline
Inflation stood at 2.8% in August, according to the latest Foodservice Price Index from Prestige Purchasing and CGA by NIQ, although certain categories are still seeing stubbornly high inflation
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NewsSt Austell enters low-alcohol beer market
The brewery and pub operator will launch Proper Job 0.5% – its first new category launch since entering the lager market in 2010 – in a bid to capitalise on the growing trend for low- and no-alcohol drinks
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NewsNon-exec steps down at Cooks Coffee
Paul Elliot has stepped down as non-executive director, with immediate effect, with Gordon Robinson, UK based independent director, assuming Elliot’s previous role of chair of the audit committee.
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NewsIncipio Group achieved record sales in 2023
The London-based bar group saw a 32% improvement in sales performance, with revenue of £25.9m for the full year to 31 December and record adjusted EBITDA of £2.5m.
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NewsTasty improves profitability despite revenue drop
The operator of Wildwood and Dim T restaurants achieved revenue of £19.1m for the half year to 30 June 2024 – a decline of 12%, however operating profit improved over the period, from a loss in 2023.
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NewsLeon achieves strong lfls but losses widen
The Asda-owned brand achieved like-for-like sales growth of 17.5% at its company-owned sites, during the 52 weeks to 31 December 2023, however operating loss was £12.6m for the period.