Survey paints ‘bleak picture’ of employee engagement across sector, but ‘big opportunity’ to avoid staff churn: A new survey has painted a “bleak picture” of employee engagement across the sector, but said it presents a “big opportunity” to avoid staff churn. Employee Engagement 2023 – conducted by customer experience dashboard Feed it Back in partnership with sector recruitment initiative Hospitality Rising and hospitality tech provider Zonal – revealed an overall negative employee net promoter score (eNPS) of -1 from those it surveyed. But the feedback showed operators have the chance to improve employees experience, and in turn help attract new talent and retain existing team members. The biggest factor in the negative sentiment, the survey said, was employees not feeling valued within their company, which can be improved with some quick fixes. Although pay and unsociable hours are often cited as the biggest detractors within the sector, these were not highlighted as the biggest concerns for existing employees. Instead, factors such as improved communications, more recognition and more training are what team members want to see improved. Flexible working was also flagged up as making hospitality an attractive career choice, which operators need to highlight, while more team meetings and social events are recommended to boost engagement. Dan Hawkie, managing director of Feed It Back, said “These insights suggest that with some small tweaks and fine tuning, we can make a big difference to our high staff turnover levels and help attract more candidates to the labour pool. By focusing on those staff members that are with you now and looking at how you can retain them by improving communications, delivering more training and making them feel more valued – it will make a huge difference to you, your company, your customers and your overall workforce.” However, when looking at the difference in satisfaction across the different job roles, there is huge concern in the divide between front of house staff and those at head office, with a 52-point swing in eNPS scores. Hospitality Rising founder Mark McCulloch said: “The front-line team members are arguably the most crucial to the success of the business, as they are the ones ensuring you have customers coming through the door every day. This massive difference in the eNPS must change.” The survey found that team members are the least engaged part of the workforce (-12 eNPS); that front-of-house had the highest negative score (-21 eNPS); that most negative scores came in the 65+ age range (75%); and that 69% said they see themselves leaving their company within a year.

 

Host of Asian-inspired concepts set to join updated Premium Database of Multi-Site Companies: A host of Asian-inspired concepts are among the 22 new multi-site companies being added to the next edition of the Propel Premium Database of Multi-Site Companies, which will be released on Friday, 31 March, at midday. The updated Propel Multi-Site Database, which is produced in association with Virgate, features Leeds Asian street food company Little Bao Boy, founded by former investment broker James Ooi in 2018, and operates two sites in Leeds and one in both Birmingham and Manchester. Also added this month is Japanese concept Oita, which is led by Fan Yi, and operates two sites in London, at the Green Rooms hotel in Wood Green, and in Chinatown’s Gerrard Street. In addition, pan-Asian restaurant and bar Geisha, which is based in Newcastle and will be opening two new restaurants in north Tyneside, will be featured. Premium subscribers will also receive a 3,000-word report on the new additions to the database. The comprehensive database is updated monthly and provides company names, the people in charge, how many sites each firm operates, its trading name and its registered name at Companies House if different. The database features 2,769 companies. Premium subscribers will also receive the next edition of the New Openings Database on Thursday, 6 April, at midday. It focuses on newly announced openings and upcoming launches in the sector and is updated every month. The next edition also includes a 6,000-word report on the new additions to the database. Premium subscribers also receive access to three other databases: the Propel Turnover & Profits Blue Book; the UK Food and Beverage Franchisor Database; and the Who’s Who of UK Food and Beverage. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. Premium subscribers are also to be given exclusive access to the recording and slides to Propel Multi-Club Conferences. Premium subscribers also receive their morning newsletter 11 hours early, at 7pm the evening before; regular video content and regular exclusive columns from Propel group editor Mark Wingett.

UKHospitality – government timeline for further action on Tourist Recovery Plan ‘not good enough’: UKHospitality has told the government its timeline for further action on its Tourist Recovery Plan is “not good enough”. Julia Lopez, the minister for media, tourism and creative industries, has published an update on the Plan, which was first introduced in 2021 to set out a framework for developing the sector following the significant impact covid restrictions had on it. The report set out a “mixed picture of recovery”, with domestic tourism “recovering well” but international tourism “lagging behind the targets set out on the Plan”. UKHospitality chief executive Kate Nicholls said: “While we welcome the government’s recommitment to support the Plan, we need to see significant support in the form of urgent action on energy and the labour market in order for the sector to thrive. Thousands of hospitality and tourism businesses are still set to see huge energy price increases when current support ends in April, something which unfortunately was not addressed in the spring Budget, and it still remains the case that we need to see urgent action on the market failures identified by Ofgem in its non-domestic review update last week. The current timeline of further action by the summer is not good enough.”

 

Job of the day: COREcruitment is working with a growing UK leisure business that is looking for a head of marketing. A COREcruitment spokesperson said: “The business is very well backed and poised for expansion (new sites committed) and the brief for the new head of marketing is crucial to those growth plans. You will develop and manage marketing strategy and plan. Your experience will be in designing and implementing brand strategies, successfully influencing and managing key stakeholders, overseeing membership strategy, building the base, and utilising membership data to encourage repeat visits. You will manage your own media channels – website, social media, and membership communications – as well as develop imaginative and effective ways to market sites in their local areas, working with supplier brands and collaborating with the creative community (artists, designers, musicians etc) to add edge and interest to the brand across all touchpoints.” The salary is up to £80,000 and the position is based in Leeds. For more information, email gemma@corecruitment.com

 

Exclusive – Rileys reports return to profit for first time in six years after sales growth almost 50% up on pre-pandemic levels, secures further funding to grow the business: Sports bar operator Rileys has reported a return to profitability for first time in six years after sales growth of almost 50% up on pre pandemic levels, and secured further funding to grow the business, Propel has learned. With turnover of £8,438,875 for the year ending 1 January 2023, the company has reported sales growth in 2022 of +49.8% above pre-pandemic levels and +27.1% to the 32 weeks the company traded in 2021. The company also recorded an Ebitda profit of £1.0m for the year, a return to profitability for the first time in six years. Rileys, which is actively seeking new sites in Bristol, Cardiff, Birmingham, Manchester, Leeds, Newcastle and Glasgow, said the double-digit growth achieved from a series of refurbishments, has “added to our ambition and increased our confidence to commit to larger more centrally located sites in the above cities”. Craig Mayes, Rileys chief executive, said: “We are well into the turnaround of our business, delivering another year of double-digit sales growth and generating £1m of Ebitda in the 12 months to 1 January 2023. This return to profitability has allowed us to raise a further funding to grow the business through new sites or an acquisition.” Peter Marks, Rileys non-executive chairman, added: “Craig and the team have successfully navigated a difficult administration during the pandemic. They believed a modernised Rileys offering had the potential to do great things, and importantly, have investors who believed in the story and the team. These results are a reflection of a job well done and progress made. Having previously been involved when Rileys had over 150 sites, the next job is to prove they can successfully scale the business once more.” Rileys, which is owned by Weight Partners Capital, went into administration in July 2020, immediately closing four sites to take its estate to 17. It currently has 13 sites but said last summer it was ready to hit the expansion trail once more, as it hunted “multiple sites” to grow its portfolio. Rileys will feature in the next Propel Turnover & Profits Blue Book. For the year ending 1 January 2023, the business turned over £8,438,875, which will be the 485th highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription.

Blank Street Coffee closes $20m funding round, opens largest UK site to date: US coffee chain Blank Street Coffee, which made its debut in Britain last July, has closed a $20m (£16.4m) funding round with investors that include Left Lane Capital, HOF Capital, General Catalyst and Tiger Global, that will help it scale its coffee subscription programme and enhance its F&B offer across its 50-strong US estate. Late last year, it was reported that the business was in talks to raise a new funding round. According to Bloomberg, the company is in talks with investors to be valued at around $200m, which is about the same valuation it fetched in its last round. Reports in the US said that the latest funding will scale its weekly Regulars subscription programme and explore food options across its existing stores, including developing “an affordable breakfast menu”. The new funding round comes as the company opens its largest site to date here, which features its first grab-and-go items. The company opened the site, its 15th in London, in Finsbury Square, with items such as ‘Cucumber Seltzer’ and ‘Overnight Oats’ from curated brand partners. It will follow this up with the opening of its 16th UK site in New Oxford Street this week. Co-founded in 2020 by Issam Freiha and Vinay Menda, the company previously said it aimed to have 100 locations in New York and two-dozen shops in London by the end of last year. In 2021, it raised $60m, including a $25m Series A funding from venture capital firms General Catalyst Partners and Tiger Global Management. In October, Blank Street acquired Over Under, the coffee brand founded by Ed Barry in 2017, in a deal that saw it take on Over Under’s eight sites across the capital.

Thunderbird Fried Chicken to return to Canary Wharf: Thunderbird Fried Chicken, the wings and fried chicken concept backed by TriSpan, is to make its return to London’s Canary Wharf after securing a site in Jubilee Place, Propel has learned. The Paul Gilchrist-led business will open on the former Bird site in Wharf Kitchen in early May. Gilchrist said: “Thunderbird is returning home – well, to our spiritual home of Canary Wharf, where it all started for us in Giant Robot. We still have a large fan base in the area and are often contacted via our social media about when we’re coming back, and we’ve been looking for a great site for a while.” Thunderbird currently operates six bricks-and-mortar sites in London and five concessions in partnership with Parkdean Resorts across the country. Earlier this year, it appointed Chris Nunn, formerly of Tortilla and La Tasca, as its new finance director, and Steve Hardy, formerly of Fego UK, The Gentleman Baristas and Bill’s Restaurants, as its new head operations. Gilchrist told Propel both Nunn and Hardy had “joined us to help support the next period of growth for Thunderbird”. Gilchrist said that the company had a couple of sites in the pipeline and were in discussions with several potential franchise partners. It is thought Thunderbird has spent the past two years preparing itself to go out to talk to prospective franchisees. 

 

New QSR concept CHŪŌ Sushi secures debut site: New QSR concept CHŪŌ Sushi has secured its debut site in London’s Shoreditch, Propel has learned. The concept, which was founded by John Brown, ex-group operations manager at The Culpeper Family Hospitality Group, has taken a unit at Greystar’s Old Street Chapter Student development. The company said: “CHŪŌ is an innovative sushi QSR concept that introduces previously unseen front of house food service automation technology to the UK and Europe. Think of the next evolution of Kaiten (conveyor belt sushi), using a bespoke monorail system manufactured and imported from Japan. This new way of operating a restaurant creates the previously unobtainable opportunity for fresh, made to order, fine dining-quality sushi, available for a high street price point.” CHŪŌ Sushi in Paul Street will offer around 40 sushi and Izakaya style dishes and will combine individual counter style and group booth seating. The company continued: “Digital ordering, customer and operating systems lay a foundation of technology for continued innovation of restaurant operating models as CHŪŌ aims to achieve rapid growth and offer a fun, original experience while providing value and benefit to its customers by making sushi fast, fun and accessible again.” Carlene Hughes at Savills Retail and Leisure acted on the Shoreditch deal.

Insomnia Cookies appoints former Deliveroo director as UK MD ahead of market launch: Krispy Kreme has appointed former Deliveroo director Ben Lacey as UK managing director for its late-night bakery brand Insomnia Cookies ahead of its debut here later this year. Lacey joins following more than four years at Deliveroo, during which the brand grew from scale-up to a public company. He was regional director at the food delivery business, overseeing growth in the north of the UK as well as the south on an interim basis, giving him overall responsibility for the business outside of London. His role encompassed all three facets of Deliveroo’s offering – consumers, restaurants and riders – overseeing five-fold top-line growth and managing a team of 50 account managers. Insomnia Cookies said Lacey’s wealth of experience within the Manchester market will be a crucial tool in its launch strategy, as it looks to open its first stores in the northern city. Lacey said: “Insomnia Cookies was my late-night mainstay while a graduate student in Boston. It feels like a full-circle moment from first experiencing the product as a consumer to now heading up the Insomnia Cookies UK operation.” Prior to Deliveroo, Lacey was at Home Retail Group, the former parent company of Argos and Habitat. During his tenure within the group strategy team, he worked on the Argos location strategy, which ultimately led to the brand’s partnership with Sainsbury’s and its subsequent acquisition by the supermarket giant. He is joined by senior marketing manager Millie Ralston, who boasts significant experience within the food and beverage space and specialises in creating business-to-consumer marketing strategies for a Generation Z audience. Founded in 2003, Insomnia Cookies has more than 230 locations across the US and will also enter the Canadian market this summer.

Danieli Group reports record profits for Stack as it looks to grow concept to 11 sites within five years: North east operator Danieli Group has reported record profits for its Stack container leisure venue concept as it embarks on an expansion plan to grow it to 11 sites within four to five years. Stack saw sales of £14.6m and Ebitda of £4.67m combined for its Newcastle and Sunderland venues for the year ending April 2022. And those results mean the company – which has recently announced planned sites in Durham, Bishop Auckland, Carlisle, Lincoln along with a three year pop-up scheme in Middlesbrough – is moving on with its ambitious, national growth plans. The two north east Stacks were purpose-built container villages, with the concept now expanding into repurposing existing buildings at some locations. Neill Winch, chief executive of Danieli Group, said: “The essence of Stack is in bringing people together over the universally shared pleasures of food, drink and music and providing a vibrant festival style atmosphere week in and week out. The sales figures demonstrate how popular both venues have been in the north east and how they have been embraced by the local community.” Danieli Group will open its first Stack site outside the north east, in Lincoln. The venue is under construction and is due to open in September 2023. Planning permission has also been granted for a temporary site in Middlesbrough, which will now open in June. Work is also underway on a new flagship site in Newcastle city centre, which is scheduled to launch in June 2024. The proposed sites at Carlisle, Durham and Bishop Auckland are all currently going through the planning and licensing process, which is due to conclude by the end of April. Winch said: “We have a number of other sites progressing through legals and a pipeline that will ultimately see Stack become a household name.”

Gong Cha makes trio of senior hires to support international expansion plans: Gong Cha, the fast-growing bubble tea brand headquartered in the UK, has made a trio of senior appointments to support its international expansion plans. Kiki Jin has joined as global chief marketing officer, Pip McKenzie as general counsel and Geoff Henry as head of Americas region. Jin has more than 15 years of experience with various brands worldwide, including Dove, Heinz and Lux. In her previous senior role at Kraft Heinz, she led a transformative effort for the Heinz brand, “creating meaningful purpose, impactful award-winning campaigns, and successful innovation pipelines”. At Gong Cha, Jin will focus on “building meaningful brand purpose that drives positive social impact”, and put her creativity to work – spearheading marketing initiatives that reinforce brand equity, and developing robust innovation pipelines to drive growth. McKenzie previously served as head of legal for KFC, Yum! Brands Western Europe, as well as legal director for Unilever Europe’s business integrity, litigation and decentralised businesses department. Henry was most recently president of Jamba Juice, where he successfully integrated the company into Focus Brands – returning the brand to growth, driving top-line sales and increasing its development pipeline. At Gong Cha, Henry will continue to build on the brand’s momentum and drive the brand’s rapid expansion in the Americas. Gong Cha said the new hires will help the group fulfil its ambitious global growth plans, which is targeting the opening of a new store every day, on average, this year. This includes ten new stores in the UK. Paul Reynish, chief executive of Gong Cha, said: “These new team members bring with them a wealth of experience and deep expertise that will help fuel the brand’s exceptional growth trajectory.”

Just Eat to cut around 1,700 delivery worker jobs: Just Eat has announced it is to cut 1,700 jobs as it ceases to employ its delivery riders and drivers. Instead, it will use gig economy workers to deliver food in the UK, as opposed to the hybrid system of employees and self-employed workers, despite strong comments by the chief executive against the gig economy. A further 170 people working in the company’s operational department are also impacted. Delivery employees have been given six weeks’ notice with pay, and it is understood office staff will begin a process of redundancy and may be moved to other parts of the business. The business has been seeking to cut spending as takeaway order numbers decline post-pandemic and families grapple with the cost-of-living crisis. Total customer numbers fell by 9% in 2022, the company said at its annual results earlier this month, while rising inflation means diners are spending about 3% more on an average order. A Just Eat spokesman said: “Just Eat UK is reorganising and simplifying its delivery operation as part of the ongoing goal of improving efficiency. As part of this process, we have proposed to transition away from the worker model for couriers, which is a small part of our overall delivery operations, running in certain parts of six UK cities. There will be no impact to the service provided to partners and customers. Our top priority now is to support impacted employees and couriers. We are hugely grateful to our talented colleagues and couriers who have been part of the worker model in the UK.” The company is said to be replacing agency workers with freelance drivers who can access its on-demand app, similar to Deliveroo. 

El Mexicana signs for unit at Gloucester Quays: Mexican burrito brand El Mexicana has signed for a unit at south west leisure destination, Gloucester Quays. It will be launching in the coming months, having taken a 600 square-foot unit adjacent to The Real Greek. John Coverley, founder of El Mexicana, said: “We are delighted to be joining Gloucester Quays, a place that has shown its huge F&B appeal and continues to be relevant for a huge range of customers in and around Gloucester.” Gloucester Quays developers Peel L&P said the opening of The Real Greek last autumn contributed to a 10.5% uplift in food and beverage sales at the destination for the year, compared with 2019. Propel revealed earlier this month that the El Mexicana business had been sold via a pre-pack administration for £150,000. Administrators from Interpath Advisory completed a sale of several entities within parent company Elmex Group, which will see ten El Mexicana and Don Churro food outlets across the UK continue to trade. The business was sold to Cholco Consulting, which comprises Cloverly and Paul Stagg as directors.

 

Bird House London to launch new Peckham multi-concept space: Bird House London, led by Frazer Timmerman and Wil Fuller, is to open its next venture, Peckham Arches, next Thursday (30 March). Peckham Arches spans five railway arches and two large disused goods yards adjacent to Peckham Rye station. The 500 square-metre space will include a number of different bar and food elements as well as showcasing local artists, private events spaces and a monthly events calendar of live music and DJs. The venue will hold up to 600 guests, with inside and outside seating available. The space will have an array of food offerings, which will sit alongside an open-fire kitchen and charcoal grill, as well as a cocktail bar focusing on tequila and mezcal-based drinks. Peckham Arches neighbours Bird House London’s “casual neighbourhood hangout” Skylarking, which offers sourdough pizza and margarita cocktails alongside weekly events. Bird House London is also behind The Hawk’s Nest in Shepherd’s Bush. Timmerman previously oversaw the food and drinks offering for Edition Capital-backed Incipio Group, while Fuller was previously area support manager at Hippo Inns. 

Company behind London restaurant Wilton’s returns to profit as it reports ‘strong recovery’: London restaurant operator Wilton’s Holdings has reported a “strong recovery” following the impact of covid as the business returned to profit. Turnover increased to £6,795,873 for the year ending 31 March 2022 compared with £1,298,017 the previous year. For the year ending 30 March 2020, when the final month of trading was impacted by the pandemic, the business turned over £7,286,227. The family-owned group made a pre-tax profit of £532,972 compared with a loss of £1,294,735 the year before (2020: profit of £168,058). During the period, the business operated three sites in London ­­– Wilton’s, Franco’s and Locket’s. However, last month the group closed all-day cafe and wine bar Locket’s after opening in St James’ Street at the end of 2019. The business received government grants of £175,663 (2021: £1,160,949). No dividend was paid (2021: nil). The group has operated Wilton’s in Jermyn Street for more than 70 years. Franco’s restaurant opened in the same street in 1945 and was believed to have been one of the first Italian restaurants in London.

 

Hotel group behind Sea Containers London and One Hundred Shoreditch appoints new COO and global marketing chief: The hotel group behind Sea Containers London and One Hundred Shoreditch has appointed a new chief operating officer and global director of sales and marketing. Lore Group, which is also behind Pulitzer Amsterdam, Riggs Washington DC and Lyle Washington DC, has brought in former Timothy Oulton Hospitality Collection chief executive Matthew Thomas as chief operating officer. Previous to that, he was chief operating officer of Europe for Soho House, having also held general manager roles in New York and Istanbul for the Membership Collective Group-owned business. Joining Thomas at Lore Group is new global director of sales, marketing and public relations, Fiona Morgan. Prior to joining Lore, Morgan ran her own consultancy firm for a decade, working with hotels such as the Nomad London, The Standard and Chiltern Firehouse. Previous to that, she was London regional director of sales and marketing for Morgan’s Hotel Group and global director of sales for Como Hotels & Resorts. David Taylor, Lore Group’s chief executive, said: “I’m thrilled to have Matthew and Fiona on board and look forward to working with them to shore up our existing hotels and operating platform, and position the group as we expand into new cities with additional properties. Their wealth of experience and reputation in their respective fields are a huge asset to our group.”

 

Experimental Group to open first UK site outside London this summer, appoints Boxer Jackson as chef consultant: Paris-based Experimental Group has confirmed it will open its first UK venue outside of London this summer, and appointed Boxer Jackson as its chef consultant. The group – which operates a portfolio of hotels, cocktail club bars, wine bars, restaurants and beach clubs across cities such as London, New York, Venice and Paris – last year acquired Cowley Manor in the Cotswolds. The venue will now launch this summer, with Boxer, chef patron at Brunswick House and Orasay, leading the food and beverage offering. Xavier Padovani, Experimental Group business partner, said: “My partners and I have long admired Jackson’s work as a chef. We knew from our early days dining together as a group at Brunswick House that we wanted to work alongside him, and we can’t wait to see what he will do in the kitchen at Cowley.” Boxer added: “I love everything the Experimental Group does and have always hungered for the chance to put together a really fabulous and unique hotel menu.” Cowley Manor Experimental will feature 36 rooms alongside a garden room, bar and lounge – home to Experimental Cocktail Club Cotswolds – plus a 50-cover indoor restaurant and 50-cover outdoor terrace, library, spa and two swimming pools. Dishes at the restaurant will include Cornish lobster tagliolini; grilled chalkstream trout with sorrel butter; and roast chicken with vin jaune sauce to share. The bar menu will feature a grilled brioche sandwich of Gloucestershire ham, double Gloucester cheese and Wiltshire truffles; and caviar with Cowley cream and toasted waffles. Menus at the spa will be unveiled closer to the launch.

 

Independent Bristol bistro with Michelin Green Star expands offering by opening bread shop in former bakery: Independent Bristol bistro Wilson’s, which has a Michelin Green Star – highlighting excellent sustainable practices – has expanded its offering by opening a neighbouring bread shop. Wilson’s has been operated at 24 Chandos Road, Redlands, since 2016 by partners Jan Ostle and Mary Wilson, and is named after the latter’s former family restaurant in London. They have now opened Wilson’s Bread Shop, just down the road at 18 Chandos Road, in a former bakery that was owned by Hovis for more than a century. It sells home-baked bread, patisserie and desserts, hot drinks and surplus fruit and vegetables from the Wilson’s market garden. Open on Fridays, Saturdays and Sundays, it takes the restaurant’s sustainable ethos to a smaller, more casual site, under the care of head baker Ben Martin. Among the produce is loaves of sourdough bread baked with WildFarmed regenerative flour, two-day proved slabs of focaccia, an Icelandic-style rye bread, koji bacon rolls made using bacon cured in-house, and Bloody Marys made with fermented home-grown tomatoes. Ostle said: “Mary and I knew that Wilson’s was growing in size and ambition but didn’t want to change the neighbourhood feel of the restaurant. Having so much incredible food growing on the farm, we wanted our community to be able to access the produce we grow – to take it home and create their own dishes from it.”

 

Burleighs Gin set for relaunch as new owner acquires business from administration: A new owner has acquired Leicestershire distillery Burleighs Gin, three months after administrators were called in. A statement said an investment company had stepped in to take over the company and said there were also plans to relocate the business. Administrators were brought in at the business, which is based in the Charnwood Forest, near Loughborough, last December following a winding up petition from HM Revenue & Customs. The distillery was launched in July 2014. In February 2021, it received £250,000 of investment to scale-up its operations from the Midlands Engine Investment Fund – backed by the Coronavirus Business Interruption Loan Scheme – to help it take on staff and build export sales in Europe, the Far East and US. The statement said: “Burleighs Gin has been acquired by an investment company that recognises the values and legacy of the company and work has already begun to relaunch the brand in the coming weeks. Under new ownership, the brand is looking to rebuild the strong bonds and links that were established in the Leicestershire area and work on the continued growth both locally and around the UK. Burleighs will be relocating to new premises in the coming months and plans to re-establish the gin school experience and run local events to promote the brand.”

 

Outgoing Fever-Tree chairman takes on same role with plant-based energy drink start-up following £1.2m fundraise: Bill Ronald, outgoing chairman of Fever-Tree, the upmarket tonic maker, has taken on the same role at BACX, the plant-based performance energy drink start-up. During his decade as chairman, Fever-Tree increased its market value eight-fold since its initial public offering in November 2014, growing from a $34m to a $400m-plus revenue business. As previously reported, Ronald is due to stand down from the Fever-Tree board following its annual general meeting in May. His new appointment follows a successful £1.2m seed funding round at BACX, with the lead investment driven by four-time F1 world champion, Sebastian Vettel. Founded in 2020 by Jason Baits-Tomlin, BACX can be mixed with water to provide nutrition, hydration and energy to endurance athletes and enthusiasts and contains no artificial preservatives, colours, flavours, caffeine or maltodextrin. Ronald said: “I feel very privileged to take on this role at such an exciting time in the rapidly growing energy supplement and drinks space. Joining BACX as chairman is the perfect opportunity for me, given my passion for nurturing start-ups into leading industry players.” Baits-Tomlin added: “Bill joined Fever-Tree in its infancy and now it’s a globally recognised premium drink brand. His experience and lessons learned from this journey make him the ideal chairman for BACX.”

 

Craft spirits and honey producer files intention to appoint administrators: The British Honey Company, which produces premium British honey and craft spirits, has filed an intention to appoint administrators. The company began trading in November 2014, initially focusing on honey production, and later expanding into honey-infused spirits. Last October, it commenced a review to explore the strategic and financing options available to it, including the possibility of a sale. In December, the board announced it had secured funding in the form of a loan for £750,000 to support near term working capital requirements. At that time, the business made clear that further funding would need to be secured early this year, which the company has attempted to identify since that date, but it has proved “extremely challenging, with no offer of funding support being forthcoming”. It added: “Significant costs savings have been made in the business in order to conserve cash. Notwithstanding these cost savings, the company will require further funding by end of March 2023, based on current management forecasts. Regrettably, the board has concluded that it is required to take the necessary steps to preserve value for creditors. The board has therefore resolved to file notice of its intention to appoint administrators, with a view to appointing partners of FRP Advisory as administrators.”