| Thursday 31st January 2019 |
| Harry Ramsden makes international debut as new leisure format lands in Malaysia |
| Harry Ramsden makes international debut as new leisure format lands in Malaysia: Fish and chip chain Harry Ramsden, owned by Boparan Restaurant Group, has made its international debut with a new leisure format, Propel has learned. Harry Ramsde … view |
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| Thursday 31st January 2019 |
| Update: Patisserie Valerie auditor castigated, UK leading delivery at McDonald's et al |
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Patisserie Valerie auditor castigated after telling MPs it is not set up to spot fraud: The long-term auditors of collapsed chain Patisserie Valerie have been castigated for claiming they are “not set up” to spot fraud. MPs told Grant … view |
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| Thursday 31st January 2019 |
| Propel Thursday News Briefing |
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Leisure vacancy rate hits five-year high although bar and restaurant numbers continue to grow: The number of vacant units in the leisure sector is at its highest level in five years, new research has revealed. Data from Local Data Company … view |
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| Wednesday 30th January 2019 |
| McDonald’s reports like-for-likes up 4.4% in fourth quarter helped by ‘continued UK growth’ |
| McDonald’s reports like-for-likes up 4.4% in fourth quarter helped by ‘continued UK growth’: McDonald’s has reported global like-for-like sales rose 4.4% in its fourth quarter to 31 December 2018 helped by continued growth in the UK. C … view |
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| Wednesday 30th January 2019 |
| Caffe Nero acquires Coffee#1 |
| Caffe Nero acquires Coffee#1: Caffe Nero Group has become the majority owner of Coffee#1, the coffee chain that has sites across Wales, Midlands and southern England. Caffe Nero Group has bought shares from Welsh brewer and retailer SA Brain, … view |
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| Wednesday 30th January 2019 |
| Update: Turnaround specialists eye Patisserie Valerie leftovers, Greene King, BigDish |
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Turnaround specialists eye Patisserie Valerie leftovers: Rcapital, the private equity firm that rescued Little Chef from collapse is among the front-runners in the race to acquire most of the remaining Patisserie Valerie business from adm … view |
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| Wednesday 30th January 2019 |
| Propel Wednesday News Briefing |
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Domino’s Pizza reveals Just Eat trial as part of UK growth plans, dismisses suggestions store base is nearing maturity: Domino’s Pizza Group chief executive David Wild has outlined the opportunities for growth in the UK and dismissed … view |
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| Tuesday 29th January 2019 |
| Hickory’s reports turnover and Ebitda boost |
| Hickory’s reports turnover and Ebitda boost: Hickory’s Smokehouse has reported turnover increased 28% to £21.4m for the year ending 30 April 2018, compared with £16.6m the previous year. Group Ebitda before exceptional costs was up 8% to … view |
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| Tuesday 29th January 2019 |
| Update: Patisserie Valerie sales on slide for three years, Domino's Pizza fourth quarter results, Stonegate bond |
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Patisserie Valerie sales in ‘secret’ decline for at least three years: Patisserie Valerie sales were in “secret” decline for at least three years before the discovery of the accounting black hole that triggered its collapse. A pri … view |
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| Tuesday 29th January 2019 |
| Propel Tuesday News Briefing |
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Electra – TGI Friday’s valuation fell £37m in 2018 but business remains highly profitable and cash generative: Electra, which is looking to sell all its assets and return cash to shareholders, has reported the valuation of TGI Friday … view |
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| Monday 28th January 2019 |
| Update: The Times – lid lifted on £40m hole at heart of Patisserie Valerie |
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The Times – lid lifted on £40m hole at heart of Patisserie Valerie: Cheques worth millions of pounds were bounced at HSBC and Barclays in Solihull in the West Midlands, artificially inflating the cash reserves of accounts belonging to … view |
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| Monday 28th January 2019 |
| Propel Monday News Briefing |
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Tim Foster – appeal of purely eating out market diminishing at a ‘fast rate’: Yummy Pubs head of awesome Tim Foster has told Propel the appeal of the purely eating out market is diminishing at a “fast rate” as consumers seek ope … view |
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| Monday 28th January 2019 |
| UK consumer confidence drops to 18-month low with spending continuing to slow |
| UK consumer confidence drops to 18-month low with spending continuing to slow: UK consumer confidence dropped to an 18-month low in the last quarter of 2018 with spending expected to continue to slow, according to the latest Deloitte Consumer … view |
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| Friday 25th January 2019 |
| Update: Douglas Jack on Fuller's, McDonald's, allergen labelling consultation begins |
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Douglas Jack – ‘transformative’ £250m beer division sale provides Fuller’s with foundation for many years of strong growth: Peel Hunt leisure analyst Douglas Jack has said Fuller’s “transformative” £250m sale of its beer d … view |
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| Friday 25th January 2019 |
| Friday Opinion |
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Subjects: A year of transformation, it’s about more than just the beer and opportunity knocks in challenging times Authors: Ian Dunstall, Glynn Davis and Charlie McVeigh A year of transformation … view |
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| Friday 25th January 2019 |
| Fuller’s sells beer business to Asahi for £250m |
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Fuller’s sells beer business to Asahi for £250m: Fuller’s has entered into an agreement for the sale of its entire beer business to Asahi Europe Limited for an enterprise value of £250 million on a debt free, cash free basis. The bu … view |
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| Friday 25th January 2019 |
| Propel Friday News Briefing |
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Los Angeles study tour to take in ‘restaurant of the future’ where everything is measured: Propel and UKHospitality’s Los Angeles study tour, which takes place in May, will include a visit to the “restaurant of the future”, whic … view |
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| Thursday 24th January 2019 |
| The Restaurant Group reports like-for-likes down 2% in 2018, a ‘pivotal year’ |
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The Restaurant Group reports like-for-likes down 2% in 2018, a ‘pivotal year’: The Restaurant Group has reported like-for-like sales down 2.0%, with total sales increasing by 1.0% in the 52 weeks ended 30 December 2018. The company st … view |
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| Thursday 24th January 2019 |
| Propel Thursday News Briefing |
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Tim Martin – JD Wetherspoon could have 30 pubs in Ireland: JD Wetherspoon chairman Tim Martin has told Propel he believes the company could have a 30-strong estate in Ireland. The company currently operates five sites in the country wit … view |
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| Wednesday 23rd January 2019 |
| Administrators reveal Patisserie Valerie site closures |
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Administrators reveal Patisserie Valerie site closures: The joint administrators of Patisserie Holdings have confirmed the closure of a number of loss-making outlets including 27 Patisserie Valerie stores and 19 Druckers stores. In additi … view |
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| Wednesday 23rd January 2019 |
| Stonegate buys 32-strong Fever Bars plus six more Novus sites in London |
| Stonegate buys 32-strong Fever Bars plus six more Novus sites in London: Stonegate Pub Company has acquired 32-strong Fever Bars, for an undisclosed sum – and six central London Novus sites. The company stated: “Established in 2007 with it … view |
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| Wednesday 23rd January 2019 |
| Young’s buys Redcomb Pubs for £34m |
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Young’s buys Redcomb Pubs for £34m: Multi-site operator Redcomb Pubs, founded by managing directors Dan Shotton and Mark Draper, has sold the group to Young & Co’s for £34 million on a cash-free and debt-free basis, representin … view |
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| Wednesday 23rd January 2019 |
| Propel Wednesday News Briefing |
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Patisserie Valerie to shut 70 sites following administration, resulting in 'significant' number of redundancies: Patisserie Valerie is to shut 70 of its 200-odd sites, resulting in a "significant number of redundancies" after its parent c … view |
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| Tuesday 22nd January 2019 |
| Patisserie Valerie falls into administration |
| Patisserie Valerie falls into administration: Patisserie Holdings has announced, as a direct result of the significant fraud referred to in previous announcements, “it has been unable to renew its bank facilities, and therefore regrettably t … view |
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| Tuesday 22nd January 2019 |
| Time Out sells Flyt stake to Just Eat for £9.6m |
| Just Eat buys Flyt for £22m, including Time Out's stake for £9.6m: Online food delivery business Just Eat has acquired the remaining outstanding share capital of Flyt for £22m from existing investors, including Time Out and Entree Capital. … view |
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| Tuesday 22nd January 2019 |
| Propel Tuesday News Briefing |
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Star Pubs & Bars signs Wireless Social to provide estate-wide Wi-Fi and analytics: Heineken has selected Wi-Fi solutions provider Wireless Social to be Wi-Fi partner for its 2,700 Star Pubs & Bars sites. The move has been driven by Heinek … view |
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| Monday 21st January 2019 |
| Update: Patisserie Valerie, Just Eat, Elephant Park |
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Patisserie Valerie still in discussions with bank: Patisserie Holdings, the parent company of Patisserie Valerie, has announced, in a short announcement to the market this morning, that, further to the announcement on 16th January, the co … view |
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| Monday 21st January 2019 |
| Propel Monday News Briefing |
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James Horler – Notes can become leading mid-market cafe brand, reports 9% like-for-like trading: Industry veteran James Horler, chairman of nine-strong Notes Coffee Roasters & Bars, has told Propel the company is forging ahead with plan … view |
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| Sunday 20th January 2019 |
| Imbiba makes investment in new immersive entertainment concept The Dream Corporation |
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Imbiba makes investment in new immersive entertainment concept The Dream Corporation: The Dream Corporation has secured $1.1m of investment to introduce a new leisure and hospitality concept with immersive entertainment at its heart. The … view |
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| Friday 18th January 2019 |
| Update: Young's, Domino's and D&D London |
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Young’s appoints interim chief financial officer: London pub retailer Young’s has appointed Daniel Quint as interim chief financial officer. The appointment comes after Steve Robinson resigned and left the business last month to pursu … view |
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| Friday 18th January 2019 |
| Friday Opinion |
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Subjects: How leaders build trust, growing into the overcoat and return to rationing Authors: Chris Edger, Glynn Davis and Paul Chase How leaders build trust by Chris EdgerTrust … view |
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| Friday 18th January 2019 |
| Update: Richoux Group board bids to go private, Rollo on Whitbread |
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Richoux Group board bids to quit AIM stock market and go private: Richoux Group, the owner and operator of Richoux, Friendly Phil’s, Villagio and The Broadwick restaurants, has announced the proposed cancellation of admission of its ord … view |
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| Friday 18th January 2019 |
| Propel Friday News Briefing |
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Number of vegan restaurants in Britain rises 55%: The number of vegan restaurants in Britain has increased 55% in the past year to 48, according to new research. The findings by the Local Data Company showed the majority of new businesses … view |
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| Thursday 17th January 2019 |
| Restaurant Marketer & Innovator Award winners revealed |
| Restaurant Marketer & Innovator Award winners revealed: The winners of this year’s Restaurant Marketer & Innovator Awards, staged by Propel and Think Hospitality, have been revealed. More than 100 entries were judged by a 20-strong panel of … view |
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| Thursday 17th January 2019 |
| Update: Whitbread, NewRiver, SSP, Ten Entertainment Group, Everyman |
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Whitbread reports like-for-like sales down 0.6% in third quarter, total UK sales increase 2.5%: Whitbread has reported like-for-like sales fell 0.6% in the 13 weeks to 29 November 2018, with total UK sales up 2.5% (year-to-date 2.7%). The … view |
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| Thursday 17th January 2019 |
| Propel Thursday News Briefing |
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Clive Watson – City Pub Group will be last venture but plenty of growth still ahead: City Pub Company executive chairman Clive Watson has told Propel this will be the last pub venture he’ll lead but he foresees many years’ growth ah … view |
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| Wednesday 16th January 2019 |
| Patisserie Holdings appoints KPMG to review options as it reveals balance sheet was ‘significantly manipulated’ |
| Patisserie Holdings appoints KPMG to review options as it reveals balance sheet was ‘significantly manipulated’: Patisserie Holdings has hired KPMG to review options for the business as it revealed its balance sheet was “significantly ma … view |
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| Wednesday 16th January 2019 |
| Update: City Pub Group and Cineworld results, UKHospitality on Brexit, BigDish |
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City Pub Group reports full-year like-for-likes up 1.6%, updates on pipeline: City Pub Group, led by Clive Watson, has reported like-for-like sales increased 1.6% for the year ending 30 December 2018. The company said the majority of the … view |
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| Wednesday 16th January 2019 |
| Propel Wednesday News Briefing |
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Boost for eating and drinking-out market as Christmas and New Year like-for-likes rise 4.1%: While the retail sector struggled, Britain’s managed pub and restaurant companies had cause to celebrate during the six-week Christmas and New … view |
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| Wednesday 16th January 2019 |
| Boost for eating and drinking-out market as Christmas and New Year like-for-likes rise 4.1% |
| Boost for eating and drinking-out market as Christmas and New Year like-for-likes rise 4.1%: While the retail sector struggled, Britain’s managed pub and restaurant companies had cause to celebrate during the six-week Christmas and New Year … view |
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| Tuesday 15th January 2019 |
| Greene King appoints new chief executive |
| Greene King appoints new chief executive: Brewer and retailer Greene King has appointed Nick Mackenzie as its new chief executive. Mackenzie will join the company on 1 May in succession to Rooney Anand, who announced in November he would step … view |
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| Tuesday 15th January 2019 |
| Charles Wells plans to double UK managed estate in 2019 as it reports turnover and profit boost |
| Charles Wells plans to double UK managed estate in 2019 as it reports turnover and profit boost: Bedford-based brewer and retailer Charles Wells plans to double the size of its UK managed estate and grow its portfolio in France during the next … view |
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| Tuesday 15th January 2019 |
| Update: Rockfish, Elegant Hotels and Rodizio Rico |
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Gresham House invests in Rockfish: Rockfish has received investment from the Gresham House Ventures team, ahead of a planned three openings in 2019. Rockfish has five coastal sites in the South-West and also owns the Seahorse restaur … view |
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| Tuesday 15th January 2019 |
| Propel Tuesday News Briefing |
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Charlie McVeigh looks at making up to three more investments following BBQ Dreamz backing: Draft House founder Charlie McVeigh has told Propel he is looking to make two or three more investments in sector businesses by April. It comes fo … view |
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| Monday 14th January 2019 |
| Andrew Stones and Toby Rolph to step down at Be At One as brand aligns to Stonegate structure |
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Andrew Stones and Toby Rolph to step down at Be At One as brand aligns to Stonegate structure: Managing director Andrew Stones and financial director Toby Rolph are to step down at specialist cocktail bar operator Be At One as the brand a … view |
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| Monday 14th January 2019 |
| Novus appoints new chief executive as Toby Smith steps down |
| Novus appoints new chief executive as Toby Smith steps down: Toby Smith has stepped down as chief executive of Novus. He has been replaced by Sharon Badelek, who has been chief financial officer for the past two-and-a-half years. Smith is step … view |
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| Monday 14th January 2019 |
| Update: Revolution trading, PizzaExpress debt and Patisserie Valerie audit |
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Revolution reports like-for-likes up 2.6% in December: Revolution Bars Group, the operator of 79 premium bars trading across the UK under the Revolution and Revolucion de Cuba brands, has provided a trading update for the 26 weeks to 29 D … view |
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| Monday 14th January 2019 |
| Propel Monday News Briefing |
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Morgan Stanley – pub sector good choice for investors due to positive trading and strong private market interest in buying assets: Morgan Stanley leisure analyst Jamie Rollo has argued the pub sector is a good choice for investors becau … view |
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| Friday 11th January 2019 |
| Friday Opinion |
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Subjects: A world of difference, time for lunch and delivery is here to stay Authors: James Hacon, Glynn Davis and Ann Elliott A world of difference by James HaconThe world is an ever-clo … view |
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| Friday 11th January 2019 |
| Ei Group sells 370 pubs to investment fund |
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Ei Group sells 370 pubs to investment fund: Ei Group has entered into sale agreements, subject to shareholder approval, with Tavern Propco Limited in relation to 370 properties comprising public houses and other commercial properties for … view |
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| Friday 11th January 2019 |
| Propel Friday News Briefing |
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UK becomes vegan food market leader as number of products launched doubles to 16%: The UK developed the highest number of new vegan food products in Europe in 2018, toppling Germany from top spot, according to the Mintel Global New Produc … view |
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| Thursday 10th January 2019 |
| Brighton Pier Group profit warning, M&B LfLs, C&C Group trading |
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Brighton Pier Group report profits will be 18% lower than expectations: Brighton Pier Group, announcing a trading update for the six-month period to 31 December 2018, has told the market profit before tax will be 18% lower than expectatio … view |
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| Thursday 10th January 2019 |
| Propel Thursday News Briefing |
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Chameleon Bar & Dining sells final three freeholds to Greene King, plans to assign remaining lease and close business: Chameleon Bar & Dining has sold its three remaining freeholds to brewer and retailer Greene King, with staff transferri … view |
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| Wednesday 9th January 2019 |
| Loungers reports like-for-like sales up 11% over Christmas and New Year |
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Loungers reports like-for-like sales up 11% over Christmas and New Year: Loungers, the operator of 139 neighbourhood, cafe-bar-restaurants trading under the Lounge and Cosy Club brands, has reported like-for-like sales up 11% over the Chr … view |
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| Wednesday 9th January 2019 |
| Propel Wednesday News Briefing |
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Papa John’s passes 400-store milestone in UK, eyes further openings following ‘excellent’ sales in December: Papa John’s has passed the 400-store milestone in the UK following openings at the end of 2018 in Dundee, Cannock, Leeds, … view |
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| Tuesday 8th January 2019 |
| Inn Collection Group secures £10m from OakNorth to more than double portfolio to 21 sites |
| Inn Collection Group secures £10m from OakNorth to more than double portfolio to 21 sites: The Inn Collection Group, which is owned by Alchemy Partners, has secured a £10m loan from OakNorth to fund its expansion. The Inn Collection Group pl … view |
| ................................................................................................ |
| Tuesday 8th January 2019 |
| Greene King reports like-for-likes up 10.9% over Christmas fortnight |
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Greene King reports like-for-likes up 10.9% over Christmas fortnight: Greene King has reported like-for-like sales over the two weeks to Christmas were up 10.9%. The company stated: “After 36 weeks of our financial year, Pub Company lik … view |
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| Tuesday 8th January 2019 |
| Propel Tuesday News Briefing |
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Pod founder lines up two new sites for Three Joes as it launches £400,000 crowdfunding campaign for growth: Tim Hall, founder of London-based healthy eating brand Pod, has told Propel his sourdough pizza restaurant, Three Joes, has two n … view |
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| Monday 7th January 2019 |
| Propel Monday News Briefing |
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Google increases market share of social reviews while TripAdvisor drives negative comments: Google increased its market share of reviews during December, according to new statistics from Feed It Back’s monthly social review tracker. The … view |
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| Friday 4th January 2019 |
| Update: Whitbread launches UK’s first battery-powered hotel, Goodbody on Wagamama, AB InBev |
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Whitbread launches UK’s first battery-powered hotel: Whitbread has launched the UK’s first battery-powered hotel, at a Premier Inn site in Edinburgh. The company has installed a five-tonne battery at The Gyle in Edinburgh Park. It wil … view |
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| Friday 4th January 2019 |
| Friday Opinion |
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Subjects: Making hotels pay, the war on choice and making hospitality sexy Authors: Glynn Davis, Paul Chase and James Hacon Making hotels pay by Glynn DavisChristmas is now sadly gone and … view |
| ................................................................................................ |
| Friday 4th January 2019 |
| Stonegate reports 7.8% festive like-for-like sales growth |
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Stonegate reports 7.8% festive like-for-like sales growth: Stonegate Pub Company, the operator of 735 drink-led, pubs and bars, has reported 7.8% like-for-like sales growth over the festive period (1 December to 1 January). It reported al … view |
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| Friday 4th January 2019 |
| Propel Friday News Briefing |
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Crussh converts Soho site to vegan pop-up as it explores viability of model: London-based healthy food and juice brand Crussh has turned its Soho site into a vegan store for the month. The outlet in Broadwick Street is serving an entire p … view |
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| Thursday 3rd January 2019 |
| Wagamama reports UK like-for-likes up 12% in second quarter, Urban Pubs and Bars secures 20th site |
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Wagamama reports UK like-for-likes up 12% in second quarter: Wagamama has reported turnover increased 15.4% to £81.5m for the 12 weeks to 11 November 2018 – its second quarter – with one new site opening in the period. The company sa … view |
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| Thursday 3rd January 2019 |
| Propel Thursday News Briefing |
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Pubs and restaurants lead the way as consumers continue to prioritise spending on entertainment, overall spend grows 4.0% in 2018: Pubs and restaurants led the way as spending on entertainment continued to be a priority for consumers in 2 … view |
| ................................................................................................ |
| Tuesday 1st January 2019 |
| Coaching Inn Group reports record December, Caprice Holdings results |
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Coaching Inn Group reports record December trading with like-for-likes up 9.4%: Coaching Inn Group has reported record festive trading with like-for-like sales up 9.4% for the five weeks to 31 December. The company saw net sales of £3,06 … view |
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