Time Out Group has appointed Adam Silver, formerly of Just Eat, as its group chief financial officer, as it announces a site for a New York market.
Silver was UK CFO for Just Eat, having joined prior to its listing on the main market of the London Stock Exchange. He succeeds Richard Boult who will step down as the group’s CFO and from the board at the same time to pursue new opportunities.
The group has signed a conditional lease agreement for a site at 55 Water Street, Empire Stores in Brooklyn’s Dumbo neighbourhood. Time Out Market New York is expected to open in Q4 2018 occupying 21,000 sq ft over two distinctive floors of Empire Stores, accommodating around 520 seats indoors and outdoors. There will be a curated mix of 20 food offerings, three bars, a stage for cultural activities and exhibition space.
The group also updated on the search for a London site, reiterating that it had appealed the declined planning permission in respect of the site in Spitalfields. If planning for the site is granted and runs to timetable it is expected that the site would open in late 2019 or early 2020; meanwhile the group continues to explore other possible sites in London.
