Bramwell owed more than £60m at time of collapse: Bramwell Pubs and Bars owed more than £60m to creditors at the time administrators were appointed last year, almost three times more than initially thought, it has been revealed. Administrators from Zolfo Cooper originally put the company’s debts at £23.3m when it collapsed at the beginning of November just over 13 months after it was formed out of the Barracuda Pub Company, but have now increased that to £47.4m owed to secured creditors and £13.2m owed to unsecured creditors. It is expected secured lenders will be able to recoup £35.5m of what they are owed, but unsecured creditors are likely to see only 2p in the pound. In a report, Zolfo Cooper said a restructure to save the declining business, which included the launch of a new brand, Wild Lime Bar & Kitchen, failed because of a lack of capital: “Management continued to explore ways to manage Bramwell’s cash flow pressures including sourcing cheaper supplies and implementing other cost saving measures; however, trading performance across the estate continued to deteriorate. Management determined that a sale of some or all of Bramwell’s pubs was appropriate.” Zolfo Cooper was appointed in September 2013 to undertake a sales and marketing process for Bramwell while it continued to trade. Stonegate Pub Company emerged as the only “seriously interested” buyer. But Bramwell and its parent company fell into administration in November after a major supplier reduced credit terms and demanded phased payments totalling £2.2m, and it became clear Bramwell’s cashflow problems were so severe it would not be able to continue trading until a sale. Bramwell employed more than 3,000 staff when administrators were appointed and traded from 183 managed pubs, 181 of them leasehold, under the Wild Lime Bar & Kitchen, Smith & Jones Pubs and Varsity brands. Zolfo Cooper closed 29 pubs after its appointment while the remaining 147 continued to trade. Of those, 78 pubs were later sold to Stonegate for £34m, of which £14m was deferred to May 2014, while another four were closed later, and two leases were surrendered to their landlords. The stock at the sites brought by Stonegate was sold for £818,000. The two secured creditors are both American investment companies, Varde Investment Partners of Minneapolis, which was owed £12.3m, and Apollo Management International of New York, which was owed £34.7m. Zolfo Cooper estimates the pair are likely to suffer a shortfall of £14m.

The first Propel Multi Club Conference of 2014 open to bookings: The first Propel Multi Club Conference of 2014, to be held on Thursday 13 March at the Lancaster London Hotel, Lancaster Gate, central London, is now open for bookings. Multi site pub, restaurant and foodservice companies can claim up to two free places each. E-mail jo.charity@propelinfo.com to reserve places.

NatWest/RBS launch £250m interest free loan fund to support businesses affected by storms: NatWest and RBS have launched a £250m UK Storm Business Fund to provide short term, interest free financing to speed recovery for businesses affected by recent floods and gales. Loans can cover the cost of repairs and replacement stock to help businesses return to normal trading. Interest-free loans will be provided for three months giving businesses the breathing space they need to get back on their feet. The fund and support package are available for all viable businesses adversely affected, not just existing NatWest/RBS customers. Andrew Taylor, head of leisure for commercial banking at NatWest and RBS, said: “As the UK’s biggest business bank we know cash flow is critical for businesses. Many leisure businesses will have taken a real hit to their livelihoods as a result of this prolonged period of adverse weather. The loss of trade or damage to stock from such a storm can mean businesses find themselves in financial trouble. We’re making additional support available because we know how important it is to the local economy and communities to get these businesses operational again.”

KFC selling fish in France: KFC has put fish on the menu in its outlets in France. The chain is selling a dish called Boxmaster Fish, which wraps two fried-fish tenders, a fried hash-brown-potato patty, lettuce, tomato, cheese and peppered mayonnaise in a small tortilla. In Spain, KFC has introduced the Tower Empire, consisting of a breaded chicken fillet topped with a hash-brown-potato cake, salsa, mustard, lettuce, crispy onions and pickles, all in a sesame-seed burger bun. In Australia it has added an “English Burger” to the menu, a chicken burger topped with coleslaw, cheese and English mustard.

La Tasca offers free coffee to emergency workers throughout January: La Tasca Restaurants is offering a free coffee to all emergency services and healthcare workers throughout this January, to show its appreciation, the company said, to all those who did not have the luxury of an extended Christmas break. Emergency service workers, and healthcare professionals, including doctors, nurses, fireman, paramedics and police, only have to show their ID at the counter to claim their free cup of coffee. James Picton, operations director at La Tasca Restaurants, said: “The complimentary coffee is a small token to show that we really appreciate everything that the emergency services and healthcare professionals have done for us over the Christmas season.”

Geof Collyer – we are expecting buoyant trading from quoted companies next week: Deutsche Bank leisure analyst Geof Collyer has forecast buoyant trading when a host of quoted sector companies provide trading updates next week. Collyer stated that private companies’ trading reported by Propel provided grounds for optimism. He said: “We are looking for all the quoted groups to maintain the positive momentum demonstrated in the last trading statements. This means broadly +3-4% like-for-likes growth for managed retail and flat like-for-like net income or Ebitda for the tenanted and leased estates. The dates for Christmas and New Year effectively meant that the UK enjoyed a two-week holiday period, with midweek bank holidays adding to the usual weekend trading. This was as good as it gets from a calendar perspective, not withstanding selectively very difficult weather conditions – though nothing on a par with last year’s snow storms.”

All Bar One does the double at Birmingham Airport: Mitchells & Butlers is to open two new bars in Birmingham Airport under its All Bar One brand. One will be located in the South departure lounge, opening in April, and another is planned for the North landside area to open in June. They will be the chain’s first airport bars. The airside bar will be 4,300 sq ft and the landside bar slightly larger at 5,270 sq ft. Fit out is set to start next month. M&B’s property director, Gary John, said: “We are delighted to have successfully acquired these new locations and showcase All Bar One within one of the country’s most vibrant and expanding airports.” Richard Gill, Birmingham Airport head of commercial, added: “We’re committed to providing our passengers with a world class experience and over the last few years we’ve improved our food and beverage offer throughout the airport to offer choice for all our passengers.”

Drake and Morgan repays £2.2m loan: Drake and Morgan, the London-based bar company acquired by Bowmark Capital last April, took advantage of its strong capital position to repay a £2.2m loan in the three months between April and June 2013, it has revealed. The six-outlet company released figures yesterday showing turnover in the three month period was up 2.4% like-for-like, on the same period in 2012, at £2.12m. Ebitda was £206,000, because of pre-opening costs at its new site near St Paul’s in London, which opened after the period ended. Restructuring costs came to more than £845,000, which pushed the company into a loss before tax of £826,000. However, a tax rebate of £580,000 reduced the final loss for the period to £247,000. “Underlying like-for-like site Ebitda growth in the period was positive compared to the equivalent period last year,” the company said. Other key performance indicators were all at “broadly similar levels” to the same period in 2012. Drake and Morgan raised £414,000 in share capital during the period after the exercise of share options. It is due to open its seventh site, in Holborn, London before the end of March, and “further opportunities are being explored and progressed.”

Living Ventures sees Ebitda rise 5%: Living Ventures Restaurants, which changed its name to Gusto Restaurants in September, has reported sales for its Gusto and Blackhouse restaurant chains up 7% to £27.3m for the year to March 31 2013, with Ebitda, excluding pre-opening costs, up 5% to £2.38m. However, operating profit fell slightly from £769,000 to £759,000 as the cost of sales rose 6.4% to £6.4m and admin expenses rose 7.2% to £20.19m. Profit after tax was £484,000, up from £411,000 in 2012. The company’s accounts revealed that at the end of its financial year it had £1.4m of cash available and bank loans available of £2.8m, giving net bank debt of a very low 0.6 times Ebitda. “The low levels of debt mean that we can continue to invest in the estate, including the redevelopment of our Blackhouse restaurant in Smithfield, central London as the Grill on the Market in August 2012,” the company said. Gusto’s parent company, BH Restaurants, which changed its name from Living Ventures Restaurant Group in September, reported profit for the year after interest payments and tax of £153,000, up from £113,000 in 2012.

Bowland Village Inns takes Thwaites site: Thwaites, the Blackburn-based brewer and pub operator, has let The Ship inn in Caton, Lancashire to Bowland Village Inns after spending £65,000 refurbishing the bar, restaurant and outside of the building. The new tenant is investing an extra £30,000 to improve the inn’s kitchen. Bowland Village Inns runs four pubs across Lancashire, including the Plough at Galgate. Carolyn Matthews, area manager for Thwaites, said: “We approached Bowland Village Inns about taking over the tenancy of the Ship as it has a great reputation for developing country pubs and we know they will be able to realise its full potential.” Steven Greenhalf, a director at Bowland Village Inns director, said: “The Ship has a long history as a popular dining destination, and we’ve been interested in bringing it in to the Bowland Village Inns family for some time. We feel it is the perfect fit with the rest of our portfolio. We’ve invested heavily in the new kitchen as we have ambitious plans for the future and are looking forward to working with Thwaites to bring those to fruition.”

Be At One to open 21st site in Bristol: Cocktail bar brand Be At One is to open its 21st site in Bristol, which will be its first site outside of London and the south east. The company has acquired Hermanos, a Bristol institution, situated on Queens Road, on the ever popular Clifton Triangle. Co-founder Steve Locke said: “Bristol is a city that has been on our radar for some time, given its dynamic evening trade and the Triangle is the location we felt complemented the brand most. We are delighted to be bringing Be At One to the West Country.” Kevin Conibear, of Fleurets, which handled the acquisition of behalf of Fleurets, said: “This is exciting news for Bristol. To attract a brand of the calibre of Be At One demonstrates the attraction of the Bristol market.”

Ping Pong opens with new design at Wembley: Ping Pong has launched a new look restaurant at the London Designer Outlet. The restaurant has a 1930s Shanghai theme with a modern twist, with diners able to enjoy their food at a counter in front of where their meal is being prepared. The dim sum counter is at the front of the restaurant and customers can watch their dim sum being prepared in front of them with giant steamers stacked up containing a wide variety of food. Art Sagiryan, chief executive of Ping Pong, said: “The opening of Wembley Park marks Ping Pong’s continued successful eight years in business. Wembley opens with new Ping Pong branding and design and I am very excited to see this come to life at such an exciting location.”

Tiger Bills lines up Asian franchisees: Tiger Bills, the Western cuisine meet Asian food brand founded by James Ayre that opened franchised sites in Whitley Bay and Consett last year, is in negotiations to sign two Asian franchisees. Ayre said: “We’ve had a lot of interest from Asia because of the appeal of the marriage of Thai cuisine with the Western grill and we are confident of having at least two master franchisees signed up in Asia in the next 12 months.”

KFC franchisee seeks Costa Coffee outlet alongside: A planning application is being considered by South Ribble Council in Lancashire for a Costa Coffee outlet beside the existing KFC on Preston New Road, Mellor Brook. The applicant, Alison Roland of Fieldrose Ltd, said there would be a subdivision of the existing premises. She is seeking the removal of a previous planning condition requiring the north-eastern area of the building to be used for storage. Roland said: “In terms of parking, the site offers 36 parking spaces including two disabled bays. This is more than adequate to cater for the KFC and proposed Costa Coffee unit.” Local residents have objected on the grounds of insufficient parking area and concerns about heavy traffic on the road and litter. However, Roland said the proposal “clearly complies with the Development Plan and attracts the principle in favour of sustainable development enshrined in the National Planning Policy Framework. There is also no demonstrable harm that would result from the proposal in terms of environmental or other disturbance as the existing site is currently in commercial use.” If passed, the coffee shop is expected to create four full time and eight part-time jobs. The application will be heard at a planning meeting on January 15 at the Civic Centre in Leyland.

British Country Inns sells Welsh pub to first-time buyers: British Country Inns, the Enterprise Investment Scheme company, has sold a pub near Bridgend in Wales to a pair of first-time buyers. The sale comes after the company announced in the summer that it was selling six of its smaller pubs to focus on its larger, more profitable outlets. The Llangeinor Arms, in Llangeinor just north of Bridgend, was bought by first-time buyers Andrew and Sharon Morgan. They will set up a lease arrangement with the pub’s management team. The commercial finance broker Christie Finance provided a funding package to support the acquisition. Gary Boyce, of Christie Finance, said: “Our clients, being regular customers and local to the [pub], were determined to purchase this popular and profitable establishment due to its long-term investment potential.” 

Just Falafel sign US franchise agreements: UAE-based restaurant chain Just Falafel has unveiled plans to expand into the United States and Canada. The company has signed five area franchise agreements with different partners in New York City, New Jersey, Kentucky and San Francisco in the US and the Greater Toronto Area in Canada, it revealed in a statement. Overall, the company plans to open 160 new restaurants in North America over the next five years, it stated. Fadi Malas, Just Falafel’s chief executive, said: “Just Falafel’s expansion in North America follows our other international success story in the United Kingdom, where we opened our first restaurant in 2013.”

Barrow Premier Inn and Brewers Fayre to open next month: A new Premier Inn and Brewers Fayre are due to open in North Road, Barrow in Furness on February 17 after a £5m investment by Whitbread. The company said around 65 jobs had been created, but was unable to confirm how many applications were received. Nicholas Johnston, acquisitions manager for Whitbread Hotels and Restaurants, said: “We are excited to be opening our new Premier Inn in Barrow. The new 62-bedroom hotel alongside the new Brewers Fayre restaurant will create 65 new jobs for the local area. The new hotel will also draw new business and leisure travellers to the area, giving the local economy a healthy boost.”

Osset triples pub profit: Yorkshire brewer Osset Brewery Company saw operating profit rise 73% to £444,000 at its pub-owning subsidiary for the year to the end of March 2013, with lower interest charges seeing pre-tax profits rise more than threefold from £89,000 to £298,000. The company runs 19 pubs, with three of them having micro-breweries attached, having acquired three more since the end of the financial year. It said it saw leased pubs as its main method of expansion in the current climate and is considering leases with larger pub companies and also individuals. Total sales during the financial year, which saw one new leased pub acquired, rose 4.7% to £4.26m from £4.07m. Gross margin had been increased by 3% by improving waste management and “making sure the pub yields are better than ever”, the company said. 

Burger King in talks over UK ad account: Burger King is in talks with advertising agencies over its £9m UK ad account, according to Campaign magazine. The magazine said the chain had approached agencies directly to invite them to pitch for the business. It said Burger King wants to create a fresh UK campaign that could run as early as February, although the review could form part of a wider agency realignment covering Europe, the Middle East and Africa. The chain’s current UK ad agency is CHI & Partners, which picked up the UK and Ireland account in 2011 after Burger King dumped its previous agency, Crispin Porter & Bogusky. CP&B’s last ad for Burger King, which saw a character dressed as a king playing a pipe and leading people through the streets of London, was critically panned. CHI’s first TV ad for the chain, “Wolfman”, in April 2012, featured a woman watching with interest as her boyfriend developed lupine features while enjoying a Burger King product.

Credit Suisse confirms Whitbread ‘outperform’ rating: Analysts at Credit Suisse reaffirmed their “outperform” rating on Whitbread in a research report released yesterday. They currently have a 4,100p target price on the company’s shares, suggesting a potential upside of 6.83% from their previous close. On Tuesday, analysts at Nomura reiterated a ‘Buy’ rating on Whitbread in a research note to investors, giving the shares a 4,023p price target.

Iona pushes up profit margin: Iona Pub Partnership, the tenanted pub division of the Scottish leisure operator G1 Group, saw its operating profit margin climb 1.2 percentage points as profits rose only fractionally for the year to March 31 2013 to £2.12m from £2.11m. The company runs more than 100 outlets in Scotland, all of which are now tenanted. Operating profit for the year was £1.51m, up 2% from £1.48m in the previous year. Machine income for the year fell slightly, from £98,300 to £96,400. Net assets at the end of the year were up almost 40%, from £2.88m to £3.98m, after a drop in long-term creditors.

Dark Star founder in new own-brew pub venture: Rob Jones, who helped found the Pitfield brewery in East London in 1987 and then the Dark Star brewery in Sussex in 1994, is getting ready to start a new brewery at The Duke of Wellington pub in Shoreham, Sussex. The Duke of Wellington, formerly one of Dark Star’s three tied houses, was acquired by Jones from the brewery last year. A brewhouse is set to be installed in a new extension planned at the back of the pub. Dark Star itself began as an own-brew installation at The Evening Star pub in Brighton before moving, twice, to end up at a 45-barrel plant in Partridge Green, West Sussex.

Faucet Inn offers prize of £1,000 bar tab: Faucet Inn, the London-based pub and bar chain, is offering a first prize of a £1,000 bar tab to people who sign up to its mailing list. The tab is redeemable on both food and drink – but it must be used in one sitting, between 1 February and 28 February. Would-be winners have to into their Faucet local and join the mailing list by filling in a comment card. There are also £50 bar tabs to be won at each of Faucet’s 19 outlets, from Beckenham to Southampton via Hampton Hill.

Ex-pub to become bike shop and licensed cafe: Two keen cyclists who run a company that normally renovates residential properties and puts them back into use have taken over a former village pub and plan to turn it into a bike shop and licensed cafe. Barry Denny and his son Matt, owners of Lark Valley Projects, are currently converting the closed Metcalfe Arms in Hawstead, near Bury St Edmunds into a cycle shop and showroom, workshop and cafe, with a patio and garden and a large car and cycle parking area. Barry, who is vice-chairman of West Suffolk Wheelers, said it would cost about £100,000 to transform the 17th-century building. He said: “Matt and I are both active cyclists and have always thought of starting up a bike shop and when this opportunity came up for combining both things together – renovating the building and turning it into a bike shop and cafe – we thought, ‘This is too good an opportunity to miss’.” Barry said the “massive increase” in the popularity of cycling as a sport and leisure activity had created big demand for good quality bikes, accessories, repairs and service and, with the added attraction of a really good cafe.

Brewer looks overseas after £50,000 investment: Wharfe Bank Brewery, which sells its beers to Enterprise Inns and Punch Taverns as well as supermarkets Tesco and Sainsbury’s, is looking to increase its presence in both the UK and overseas markets thanks to a £50,000 investment. The brewery, which is based in a converted paper mill on the banks of the River Wharfe in Pool-in-Wharfedale, West Yorkshire, has been given the funds by Finance Yorkshire. Martin Kellaway, who founded the brewery in 2010, said the money will be used to help roll out its beers to more UK supermarkets, and investigate opportunities in Europe and North America, as well as transform the brewery’s corporate branding and the labelling of its pump clips and premium bottled beers to enhance its on-bar and on-shelf presence, and to emphasise its craft nature and Yorkshire provenance. Wharfe Bank started by brewing only cask ale for pubs, but began producing premium bottled beers and craft keg ales to keep up with demand.

Herefordshire and Gloucestershire Canal Trust buys canal-side pub at auction: The Travellers Rest, at Malswick, has been bought by the Herefordshire and Gloucestershire Canal Trust after closing down in August. The trust is working steadily to restore the Hereford and Gloucester Canal, excavating shut and overgrown channels along its entire stretch. Eventually, the Travellers Rest will be the only canalside pub on the waterway and its owners promise a return to serving up traditional values. The pub has had a chequered past, regularly changing hands, but should open with new tenants in the coming weeks. The canal restoration project is only about three- quarters of a mile away from the watering hole at the moment, although the trust says it is impossible for it to come up with a definite timescale for when barges can float past the beer garden. The trust bought the pub’s freehold at auction for £20,000 under its £245,000 guide price. Trust commercial and technical director Dave Penny said: “It will be the only pub along the canal in Gloucestershire so it seemed an obvious choice for us to acquire it. The restoration of the canal is going great guns. We’re moving at a pace now and we’re working less than a mile away from the pub at the moment. We’re in discussions about a tenant for the pub but it will go back to very traditional values. It will be a proper pub.”

Stonegate to re-open Hemel Hempstead pub with more fresh food and cask ale: Stonegate Pub Company is to re-open The Green Man pub on Leverstock Green Road, Hemel Hempstead with a greater focus on fresh food and cask ale after a £250,000 refurbishment. The greater focus on quality freshly prepared food will sees the introduction of a new menu featuring dishes such as Cumberland sausages and spring onion mash served with red wine gravy and sticky onion marmalade; king prawn, smoked bacon and asparagus risotto; sharing dishes such as a charcuterie board – traditional Spanish cured meats, cheeses, grilled asparagus and roasted peppers served with freshly baked bread and oils; and a choice of six dishes under 500 calories. The pub will be introducing a new Sunday roast menu too – a choice of three meats, a 35-day-aged British rib-eye of beef served with freshly made Yorkshire pudding, British free-range pork loin or Norfolk reared turkey, accompanied by crispy roast potatoes and roasted parsnips, seasonal vegetables and a selection of sauces. The increased range of cask ales includes Three Tring Brewery beers, Ridgeway Bitter, Moongazing and Tring’s Monthly Special will be available alongside, Fuller’s London Pride, Sharps’ Doom Bar and Greene King’s IPA.

Hall & Woodhouse reports rise in tenant satisfaction: A survey by Hall & Woodhouse has shown a 17% year-on-year increase in satisfaction from its tenanted licensees, with a huge 90% stating that the collaboration lived up to their expectations. Hall & Woodhouse predict this trend to continue as a staggering 93% confirmed that they would look to renew their public house agreement upon its expiry in 2013. In addition, 93% agreed that their area manager has a good understanding of their business, whilst 95% agreed they act with honesty and integrity. 86% of licenses also agreed that their area manager has innovative ideas that add to the success and profitability of their business – a 20% rise on 2012. Matt Kearsey, business partnerships director at Hall & Woodhouse, said: “This is our fifth Business Partnerships Survey and we are delighted to see that the satisfaction of our Business Partners continues to grow year-after-year. Our aim is to provide our Business Partners with the tools and support they require to run a successful ‘pub business’ and through our dedication and commitment, we can see that we are achieving this.”

Plan to revive former Blackburn nightclub: A nightclub entrepreneur is offering to revive Blackburn’s former Utopia nightclub, to help boost the town’s evening economy. Leon Kelly, who runs the Level One nightclub chain, is offering to sink some of his own money into a plan to spend more than £500,000 on the shell of the old nightclub building, on the top of The Mall, originally the Cavendish Club. Kelly said: “Because Blackburn’s nightlife has taken a serious downward spiral, I want to build on the nostalgia for the Cavendish Club, Peppermint Place, and Utopia. The only way the council could regenerate the town would be to re-open the thing that made Blackburn synonymous with a night out. If I can pull together a plan with The Mall and [Blackburn] council, I have a significant amount of my own money I could invest.” Kelly currently runs the Level One club in Accrington, plans to open one in Darwen on January 31, and ran a similar venue in Burnley, which closed on New Year’s Eve after a dispute with the landlord of the premises.

Casual Dining show unveils speakers: Casual Dining, the UK’s first dedicated trade event for the casual dining sector, taking place on 26-27 February at the Business Design Centre in Islington, will feature Robin Rowland, chief executive of YO! Sushi, Simon Kossoff, chief executive of Italian restaurant and food shop chain Carluccio’s, Tim Bacon, co-founder and MD of restaurant and bar group Living Ventures, and Ian Neill, chairman of Las Iguanas and a non-executive director at Jamie’s Italian in a discussion called The Chain Gang, chaired by industry analyst Peter Martin, vice president of CGA Peach. The session, which takes place at midday on Wednesday 26 February, will explore how the UK’s branded restaurant sector has transformed the way Britons eat out, and outline the challenges and opportunities ahead for the highly competitive casual dining market over the next 12 months. The free Keynote programme includes previously confirmed sessions by: Alex Reilley, MD of Loungers; Andrew Guy, CEO of Ed’s Easy Diner; Peter Backman, MD of Horizons; Simon Stenning, foodservice strategy director at Allegra; Jason Katz, founding partner at Kings Park Capital; Scott Elliott, director at CGA Peach; Paul Charity, MD of Propel Info; Mark McCulloch, founder of Spectacular Marketing; and Jens Hofma, CEO of Pizza Hut Restaurants. For further information, please visit www.casualdiningshow.co.uk. To register in advance for a free trade pass, please visit www.eventdata.co.uk/Visitor/CasualDining.aspx?AffiliateCode=PR4.