All news articles – Page 8
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News
San Carlo: ‘It’s an exciting market out there’
Like-for-likes are in double-digit growth as the Italian restaurant group prepares to open six restaurants in the next 18 months, according to MD Marcello Distefano
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Shepherd Neame achieves record revenue
The Southeast-based pub operator saw revenue rise to £89m for the first half of the financial year, with strong like-for-like sales growth in both tenanted and retail pubs
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Loungers appoints CFO
Stephen Marshall will replace Gregor Grant as chief financial officer at the all day café/bar/restaurant operator
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Gusto Italian launches subscription-based loyalty scheme in casual dining first
The group has become the first casual dining brand to launch a scheme that allows guests to access benefits by paying upfront
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XP Factory sees potential for over 150 UK sites
The competitive socialising business sees opportunity to scale the business considerably domestically and internationally, and said the focus would remain in the UK in the short-term
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Majestic Wines in talks to buy Vagabond
Majestic, which is owned by Punch Pubs backer Fortress Investment Group, could strike a deal to buy Vagabond within days, Sky News reports
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Subway agrees European partnership deal with McWin
McWin will assume responsibility for 400 existing franchise restaurants in France, the Czech Republic, Luxembourg and Belgium, with plans to open 600 new sites over the next decade
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Brewery insolvencies triple in 2023
Breal Capital, which recently rebranded its growing beer business to Keystone Brewing Group has been active in acquiring distressed businesses such as Purity, Black Sheep, Brew by Numbers and Brick
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Boom Battle Bar operator grows revenues by 96%
XP Factory opened some nine sites in 2023, boosting sales to £44.7m, and double-digit like-for-like growth
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Knoops agrees Middle East expansion
CEO William Gordon-Harris is seeking to “build a billion-dollar brand” and has a goal of operating 3,000 stores globally by 2030
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CC Capital in talks to acquire Soho House
Chairman Ron Burkle defended the members group against attacks against its business model and profitability, arguing its houses create “tremendous long-term value”
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Stonegate announces senior appointments
The group has appointed Carol Campbell, Lee Reed and Frazer Grimbleby as managing directors, while Nick Andrews is set to retire
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Changes to apprenticeships ‘very positive’
UKHospitality chief Kate Nicholls said the apprencticeships levy still needs reform to allow businesses more flexibility with funding
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M&B’s Orleans Smokehouse off to ‘flying start’
Data shows that average transaction values are up significantly when compared with Harvester previously, meanwhile the new smokehouse concept is over-indexing with younger age groups
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Hush Collection shifts focus to Haché Brasserie concept
The sale of its smaller sites has allowed the group to focus on its “core activities, to repay certain shareholder loans and its overdraft facility in full, and to provide liquidity”
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Crussh returns to expansion trail
The healthy food and juice bar chain is to open new sites in London’s Kensington and Fulham, after being bought out of administration in January 2023
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Nightcap remains optimistic for future outlook
Despite revenue growth of 42%, the late night operator reported like-for-likes down 10% but expects a gradual recovery later this year as the financial outlook for its customer base improves
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Nespresso to open first on-the-go coffee shop
A new ’Nespresso bar’ concept will open near Liverpool Street station in London, after the brand closed two sit-down cafés in the capital in 2019
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Prezzo returns to profitability in 2023
In April 2023, the business took the decision to reduce it restaurant estate down to 97 sites which were profitable and capable of delivering sustainable growth
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Right place, long time: what are the secret ingredients that help a restaurant last for years?
The Sportsman, Melton’s and Prashad have thrived for two decades or longer. The Observer meets the teams behind these evergreen favourites