Bridgepoint set for Ask and Zizzi deal: Private equity firm Bridgepoint is in exclusive talks to buy Ask Italian and Zizzi in a deal worth circa £225m. Once completed, the acquisition will complete the dismantling of Gondola Holdings, wh … view

La Tasca stems like-for-like sales decline: Tapas chain La Tasca, led by Simon Wilkinson, has reported that it stemmed like-for-like sales decline to 0.4% in the year to 23 February 2014, compared to a drop of 2.5% the year before. Much b … view

Marston’s reports “encouraging start” to new year: Brewer and retailer Marston’s has reported a “solid trading performance” with underlying Group revenue up 1% to £787.6 million and underlying PBT down 3.6% to £83.0 million … view

Nando’s posts half billion UK turnover: Nando’s Group Holdings has reported that turnover in the UK has hit £534.9m in the 52 weeks to 23 February 2014, up from £485.1m the year before. Profit before tax was £30.4m (2013: £33.4m). … view

M&B sets out two-year targets: Mitchells & Butlers chief executive Alastair Darby has set out a target to grow sales derived from three key “more attractive” market segments to 70% of all sales by 2016 – the three segments accounted … view

M&B – ‘we are now gathering momentum’: Mitchells & Butlers chief executive Alastair Darby has claimed the business is now gathering momentum as like-for-like sales rose 2.4% in the first eight weeks of its 2015 financial year. Total … view

Peter Hansen – Wellington is the best case study of tenanted market’s future: The new tenanted pub company landscape, arising from parliamentary market rent proposals, is likely to mirror the recent history of free-of-tie pub company … view

Analyst – why haven’t M&B’s like-for-likes been improving?: Morgan Stanley leisure analyst Jamie Rollo has questioned why Mitchells & Butlers like-for-like sales have been static given improvement in some of the lead indicators. Ahe … view

 

Geof Collyer – market rents will exacerbate the difference between managed pubs/casual dining chains and tenanted pubs: Deutsche Bank leisure analyst Geof Collyer has argued that the proposed introduction of market rent option would pro … view

Enterprise reports like-for-like net income growth for full year: Enterprise Inns has reported further progress in like-for-like net income with growth of 0.5% in the final quarter resulting in an increase of 1.4% for the full year to 30 … view

Fitch raises outlook on Wellington, warns on under-investment in estate: Ratings agency Fitch has revised its outlook on Wellington Pub Company, the UK’s largest free-of-tie pub estate with just under 800 pubs. It has raised its recomme … view

Hummus Bros launches bond to raise £375,000: Hummus Bros, the London-based chain serving healthy Mediterranean food, founded by Christian Moutsset and Ronen Givon, has launched a bond on Crowd2Fund to raise £375,000. The bond pays 8% in … view

Analyst – M&B is in need of a spark after a flat 2014: Numis Securities leisure analyst Douglas Jack has argued that Mitchells & Butlers is “in need of a spark, after a flat 2014”. Setting a Price Target of 420p, he changed his shar … view

Tortilla targets growth to 45 sites after securing £11.135m in funding from Santander: Tortilla, the largest fast-casual Mexican restaurant group in the UK and Europe, has secured £11.135m in bank financing from Santander Corporate Bank … view

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Restaurant Group reports LfLs up 3%: The Restaurant Group has reported like-for-like sales have grown 3% in the 45 weeks to 9 November 2014. The company stated: “Since our half-year results announcement at the end of August, the Group h … view

Weetwood brewery sold as founders retire: Weetwood Ales, which was founded in 1993 near Kelsall, Cheshire and now supplies beer to more than 300 outlets, has been sold in a seven-figure deal to enable its owners, Adrian Slater and Roger L … view

Miller Brands UK reports surging demand for authentic world beers: Miller Brands UK (MBUK) has reported growing demand for authentic world beers with 11% Net Producer Revenue (NPR) growth in the UK in the six months ending September 2014. … view

‘Market rent only’ option ‘unlikely to happen’ says Punch chairman: Punch Tavern’s executive chairman, Stephen Billingham, told City analysts yesterday (Wednesday) he did not believe the so-called “market rent only” option, … view

Rileys’ unsecured creditors face £5m shortfall: As insolvency specialists from Deloitte continue their search to find a buyer for the collapsed sports bar and snooker hall chain Rileys, unsecured creditors may be hit by a £5m shortfal … view

Coffer Peach Tracker – pubs and restaurants saw 2.2% rise in like-for-like sales in October, 4.1% inside the M25: The London economy remains the main driver of growth in the eating and drinking out market. Nationally restaurant and pub … view

Inventive looks to add 12 sites to Cuban brand: New Inventive Bar Company has unveiled its intention to add a dozen sites in two years to its Revoluciòn de Cuba brand, which currently trades from five sites across the UK in Manchester, S … view

Nick Varney to become chairman of the BHA: Nick Varney, chief executive of Merlin Entertainments, will take over the role of chairman of the British Hospitality Association (BHA) when incumbent Alan Parker CBE steps down on 1 January 2015 … view

Star Pubs & Bars reports 3.5% increase in like-for-like volumes across 1,100 pub estate: Star Pubs & Bars, the operator of 1,100 tenanted and leased pubs owned by Heineken, has reported a 3.5% increase in like-for-like volumes across the … view

Carlsberg survey shows pub remain UK’s favourite out-of-home leisure activity: Visiting the pub remains the number one out-of-home leisure activity for UK adults, a new study from Carlsberg UK has revealed. 34% of consumers choose to fr … view

Moulton vehicle buys Walkabout operator: Private equity veteran Jon Moulton has acquired Walkabout operator Intertain in a £20m deal. The deal has been completed through Moulton’s Better Capital vehicle. The acquisition paves the way f … view

Luminar buys Chicago Leisure: The UK’s largest nightclub operator, The Luminar Group has acquired Chicago Leisure for an undisclosed sum. In its first major deal since its formation in December 2011, The Luminar Group has agreed to purc … view

Krispy Kreme set for roll-out as UK turnover passes £50m: Krispy Kreme is set for a sustained roll-out after transforming its performance in the UK in the most recent financial year. The company has reported a 16% increase in turnover in … view

JD Wetherspoon sets target of £8 minimum wage by 2020: JD Wetherspoon has set an internal goal to pay all hourly workers at least £8 an hour by the end of the next parliament in 2020, chairman Tim Martin has told Propel. The company inc … view

Family brewer opens craft ale smokehouse site: A craft ale smokehouse pub restaurant, the Samuel Jones, created by St Austell Brewery, has opened on Exeter’s quayside. The brewer and retailer has invested £1.5 million in transforming a … view

Operators warned over 92% hourly staff turnover rate: Companies using the hospitality software firm Fourth's systems to handle their staffing, pay settlements and rotas were warned this week that they were seeing an average 92% turnover … view

JD Wetherspoon – LfLs up 6.3%, margin drops to 7.7%: JD Wetherspoon has reported that like-for-like sale rose by 6.3% in the 13 weeks to 26 October with total sales up by 11.3%. The company stated: “Sales were good through August and … view

KFC launches radical new design concept in the UK: Restaurant chain KFC is launching a radical new design concept, which it says represents “the future of interior design for KFC”. The prototype in Bracknell carries the tagline: ‘I … view

There is great pressure on stock market-quoted companies to comply with corporate governance advice, issued by the FRC (the Financial Reporting Council), even though, as I recently wrote in Prope … view

Taylor St Baristas eyes £20m turnover with £3m bond: Nine-strong coffee shop chain Taylor St Baristas, led by Richard Shaer, is planning to expand to 30 sites and circa £20m of turnover by 2020. It has issued a ‘coffee bean bond’ o … view

Manchester gets directly elected Mayor to maximise potential of north: Greater Manchester is to get its own directly elected city wide mayor with powers over transport, housing, planning and policing, Chancellor George Osborne has announ … view

Utopian Leisure collapse leaves Barclays with £6.85m shortfall: The collapse of Utopian Leisure, the north east operator of restaurants and nightclubs led by former Ultimate Leisure boss Bob Senior, has left Barclays with an estimated £ … view