There has been some good news from the High Street this week. Operators still want to invest there.
The growth in High Street bar and restaurant concepts reached its peak a couple of years ago. Since then increasing congestion and competition has seen some high profile exits and a steady stream of profits warnings.
But this last week, we have seen SFI move in for the Parisa café bar chain, and the owners of the Sports Café operation gain a market listing by backing it into a shell company called Coliseum. Plans now are to expend the three-strong chain to 20 plus.
SFI wants the Parisa sites to feed the growth of its Slug & Lettuce High Street operation. Though expect many of the smaller units to be sold on.
However, the most optimistic note came from king of the late night market, Luminar. Chief executive Steve Thomas reaffirmed that its continued expansion will be focussed on provincial town centres. He sees plenty of opportunities for both full-blown nightclubs and his Chicago Rock and Jumpin' Jaks entertainment bars.
Most importantly Luminar does not believe in putting businesses onto out-of-town to leisure or retail parks. Town centres are the key to its growth.
Luminar reported like-for-like sales up 4.9% in its bars and 3.9% in its clubs during the six months to the end of August, with continued strong trading in the past couple of months.
The 18-25 age group is crucial to the health of high Street operations, and Luminar looks like continuing to be a strong after-dark magnet for this age group.
The trick will be to see how other bar and restaurant players take advantage.
In recent years, there has been a distinct lack of innovation in the bar arena, with most new concepts coming from the restaurant market. Revolution and, more recently, Living Room have been the notable exceptions. Both started as local operators, and from outside London, but are now both making inroads on a national basis.
The High Street business is not going away. Opportunities exist, and while Wetherspoons has a clear and confident approach, it is what the other big players do that will be perhaps the most interesting. Yates, Laurels' Hogshead and SFI, with its three brand approach though Slug, Litten Tree and Bar Med, are all going through a period of realignment. Speculation continues about Yates's ownership and SFI awaits its new chief executive.
But, one or more of these could well emerge as a really powerful player up there with Wetherspoons and Luminar.
The growth in High Street bar and restaurant concepts reached its peak a couple of years ago. Since then increasing congestion and competition has seen some high profile exits and a steady stream of profits warnings.
But this last week, we have seen SFI move in for the Parisa café bar chain, and the owners of the Sports Café operation gain a market listing by backing it into a shell company called Coliseum. Plans now are to expend the three-strong chain to 20 plus.
SFI wants the Parisa sites to feed the growth of its Slug & Lettuce High Street operation. Though expect many of the smaller units to be sold on.
However, the most optimistic note came from king of the late night market, Luminar. Chief executive Steve Thomas reaffirmed that its continued expansion will be focussed on provincial town centres. He sees plenty of opportunities for both full-blown nightclubs and his Chicago Rock and Jumpin' Jaks entertainment bars.
Most importantly Luminar does not believe in putting businesses onto out-of-town to leisure or retail parks. Town centres are the key to its growth.
Luminar reported like-for-like sales up 4.9% in its bars and 3.9% in its clubs during the six months to the end of August, with continued strong trading in the past couple of months.
The 18-25 age group is crucial to the health of high Street operations, and Luminar looks like continuing to be a strong after-dark magnet for this age group.
The trick will be to see how other bar and restaurant players take advantage.
In recent years, there has been a distinct lack of innovation in the bar arena, with most new concepts coming from the restaurant market. Revolution and, more recently, Living Room have been the notable exceptions. Both started as local operators, and from outside London, but are now both making inroads on a national basis.
The High Street business is not going away. Opportunities exist, and while Wetherspoons has a clear and confident approach, it is what the other big players do that will be perhaps the most interesting. Yates, Laurels' Hogshead and SFI, with its three brand approach though Slug, Litten Tree and Bar Med, are all going through a period of realignment. Speculation continues about Yates's ownership and SFI awaits its new chief executive.
But, one or more of these could well emerge as a really powerful player up there with Wetherspoons and Luminar.
