All MCA Insight articles in May 2023 – Page 10
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NewsBlack Sheep Coffee planning 70 new openings over next year
The coffee shop business has been expanding its franchise business, with upcoming openings at UK airports and achieved positive adjusted-EBITDA for Q1 in 2023
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NewsRestaurant Brands International reports strong global sales growth
The Canadian-based restaurant group, which operates Burger King, Tim Hortons, Popeyes and Firehouse Subs, reported global like-for-like sales were up 10.3% in Q1 2023
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NewsBlack Sheep Brewery to appoint administrators
The North Yorkshire brewer and pub operator has been unable to secure new investment after being hit hard by the pandemic and rising costs
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NewsPrezzo braces for landlord showdown over restaurant closures
Prezzo’s restructuring plan will be voted on by creditors later this month after it announced the closure of a third of its 143 sites, Sky News reports
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NewsHostmore looking to capitalise on heritage of TGI Fridays
The group is looking to drive sales in its core restaurant estate by tapping into the strong awareness of the TGI Fridays brand – which it is bringing back – as well as a focus on boosting drinks revenue
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InterviewsAndy Hornby: We let our trading do the talking
The Restaurant Group CEO shrugged off shareholder interventions and pointed to encouraging trading momentum across its four divisions, including its beleaguered Leisure division
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InterviewsNick Mackenzie: We don’t need more acquisitions to improve food
The Greene King CEO hailed a solid financial performance against a very difficult backdrop, with profits up and customers returning to pubs
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NewsMamma Dough acquired out of administration
Five of the pizza group’s seven sites will continue trading after it was acquired by the owners of The Exhibit bar in Balham
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NewsHostmore appoints McEwan as permanent CEO
Julie McEwan took up the post of interim CEO on 10 January 2023, after former CEO Robert Cook stepped down from the role.
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NewsRestaurant Group reports ‘encouraging trading’
Like-for-like sales at Wagamama were up 2% for the 13 weeks to 2 April 2023 but down 4% with its Leisure division, with the group to accelerate its previously announced rationalisation programme
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InterviewsPizzaLuxe shifts focus to franchising
The gourmet pizza concept is looking to grow its partnership with SSP and other partners, following the success of its travel hub locations, founder Paul Goodale tells MCA
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NewsHush Collection to expand Haché Brasserie concept
The group has sold its Haché Burger site in Clapham to grow the Brasserie concept, with a focus on larger sites and an expanded all-day offer
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NewsSessions adds Taiwanese concept Baohaus to portfolio
The bao concept, launched by Eddie Huang in NYC, will be rolled out across Sessions’ London and Brighton venues as well as delivery kitchens across the UK
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NewsLiberation Group sees strong start to year
The group reported sales in its UK managed pub estate were up 4.7%, for the 12 weeks to 22 April 2023, with Cirrus Inns now successfully integrated into its Butcombe Pubs and Inns business
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InterviewsStar Pubs & Bars: ‘We are focused on premiumising the local pub experience’
The pub company is focused on enhancing the experience at its pubs in order to drive spend and appeal to a broader base of customers, Star Pubs’ property director Chris Moore told MCA.
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NewsHostmore reports significant loss for FY22
The group, which operates Fridays, 63rd+1st and Fridays and Go, recorded a loss of £91.9m for the 52 weeks to 1 January 2023, compared to a profit of £11m the prior year.
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NewsGreene King achieves +60% increase in group revenue for FY22
The pub company and brewer reported adjusted operating profit of £192.6m for the 52 weeks to 1 January 2023, compared to £18.6m the prior year, with the new financial year to be one of continued investment
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NewsHeineken to invest £40m in pub upgrades
Around 570 sites in the Star Pubs & Bars estate are due to benefit from investment, with a key focus on its neightbourhood locals as more pubgoers are choosing to visit a pub that is closer to home
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Analysis & InsightHeadwinds result in 4,600 closures in 12 months
An average of 12.6 licensed premises have closed per day since March 2022, with restaurants and nightclubs seeing a much steeper decline than pubs, the latest Hospitality Market Monitor from CGA by NIQ and AlixPartners has found
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NewsWhat does the rise in wildfires mean for fine wine?
Smoke taint signals danger for winemakers. California producers are on a crash course in coping strategies — taught by their Australian counterparts, according to the FT