Jamie Barber, who oversees the Cabana and Hache brands, has said that the current year has been one of “battening down the hatches” but forecasts that 2018 will provide opportunities for growth for those business that are robust and well-invested.
Barber said that across the two brands the company had some stellar performers, some good performers and a handful of sites that need working on, but that “is probably the position for most of the sector”.
He told MCA that although the group was taking its foot of expansion in the UK for the time being, he was in talks to launch the Cabana brand into two international territories.
He said: “It is hard to put the finger on the exact reason for the pressure that is currently on trading, but everyone seems to be in the same boat. We were always going to take this year to stop and reassess where both brands were and invest on refurbishments and updates. We have had a look at some opportunities but I think next year will be the time to see what is out there.
“We may do an internal funding raise nearer the end of the year, but that will be just for capex to invest in further refurbishments, including expanding our O2 Cabana.”
The group currently operates 11 Cabana sites, with an opening lined up next year in Watford.
It acquired five-strong, gourmet burger group Hachè last September.
MCA revealed that Hachè has been acquired by Barber, former Richoux managing director Ed Standring, and Ian Neill, ex chief executive of Wagamama.
