Nightcap has appointed Lizi Hills as its group finance director.
She was previously head of finance at Various Eateries – a role she’d been in since September 2021.
Prior to that she worked at Burger King UK for almost four years, as strategic finance director and then commercial finance director. Hills has also held financial roles at Casual Dining Group, AlixPartners and Pizza Hut.
Nightcap revealed to MCA last week that it would pause its expansion plans and would focus instead on broadening its offer to mitigate the decline in consumer demand over the beginning of the financial year.
The owner of The Cocktail Club, Adventure Bar Group, and Barrio group of bars reported the results from its first full year of trading yesterday (10 November). While revenue was up from £6m last year to £36m for the year ended 3 July 2022, the operator experienced a 15% like-for-like decrease in revenue in the 13 weeks to 2 October, compared to the same period in FY21.
“We need to be mindful and cautious in terms of growth. Our bookings are telling us we’ll have a goof Christmas, but Q1 will be very tough for hospitality and retail,” CEO Sarah Willingham told MCA.
“We’re focusing on running the business tightly until spring next year, when we’ll have more visibility on the economy.”
