All news articles – Page 14
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Openings of the week
MCA rounds up this week’s biggest openings stories, including a new concept from EL&N, Alex Xu’s Kung Fu Burger, Zambrero and more
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Slug & Lettuce new summer menu drives value image
The cocktail bar chain is looking to broaden its appeal with a range of dining options, including a dinner date offer for £23pp and a Bottomless Brunch menu available into the evening
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Megan’s revenues reach £29.9m
The all-day restaurant group’s 20th site in Twickenham is exceeding expectations, with upcoming openings to include Farnham, Crouch End, and Henley
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Moto owners prepare to put company up for sale
Joint owners CVC Capital Partners and the Universities Superannuation Scheme have hired Rothschild to oversee an auction of the motorway services business which could value it by as much as £3bn, Sky News reports
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Shaftesbury Capital reports high footfall across West End
The landlord further reported strong retail and hospitality leasing demand across its portfolio, with 23 new brands introduced
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Riders and shareholders to challenge Deliveroo over pay dispute
The Deliveroo board will face questions over low pay, poor working conditions, and job security during its AGM in London today
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Hospitality calls on government to unlock sector potential
Trade bodies have called on all parties to uphold political stability and acknowledge the strategic importance of the sector, ahead of the general election in July
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Hospitality welcomes inflation falling to 2.3%
The level is now closer to the Bank of England’s 2% target, which shows it is time for interest rates to be cut, according to trade bodies
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Boparan to develop Carl’s Jr in UK&I
CKE Restaurants Holdings has reached an agreement with Boparan Restaurant Group to exclusively develop the QSR burger brand
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Nory raises $16M to spearhead AI across the hospitality industry
The investment will be used to accelerate product development and international expansion for the business, which has created a proprietary AI-powered platform for hospitality businesses to manage and scale operations
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Mitchells & Butlers acquires Pesto Restaurants
The managed pub and restaurant operator has completed the acquisition of the Italian-inspired 10-strong tapas concept for no more than £15m, as the group reported “strong profit recovery” in the first half of the year
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Adnams losses widen to £4m amid cost increases
The brewer and pub oprerator is continuing to explore options to fund its future growth plans, which include raising additional capital from another party, and/or the sale of freehold assets to return capital to the company
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Nightcap looks to raise £3.5m
The late night group is issuing new shares as it looks to capitalise on stress in the market and consolidation opportunities in the bar sector
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Subway rolls out digital advancements across UK estate
The rollout follows a pilot in which restaurants saw an increase in sales, with an integrated digital experience including kiosks, digital menu boards, a new app and relaunched loyalty programme
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Thornbridge & Co reports sales uplift
The joint venture between Thornbridge Brewery and Pivovar saw a 18% increase in sales across its bars in York, Birmingham and Leeds over the first quarter of the year
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Foodservice inflation levels approaching normality
There has been a significant year-on-year fall in inflation of 2.5%, continuing a steady trend towards stability in pricing, according to CGA and Prestige
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SSP sees improved air and rail traffic
UK revenues grew by 19.6% to £392.1m in the first half, while like-for-like growth was 14.7%, with a lower impact from rail strikes
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State of Play seeks to accelerate growth via franchising
The Bounce and Hijingo operator is looking for experienced franchise partners to grow nationally and internationally
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Gordon Ramsay takes former Haugen site
Bread Street Kitchen & Bar will open in the 10,000 sq ft Stratford Cross Pavilion building, the sixth London opening of the year under the concpet
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Comptoir: Footfall remains ‘challenged and erratic’
The Lebanese, Middle Eastern and North African-inspired restaurant operator put in place a consolidation strategy in place in 2023 and rebuilt its senior team, reporting a marginal increase in sales and neutral EBITDA