Exclusive – Scoffs Group discontinues Miss Millie’s operation, future ventures outside core Costa business ‘will only be operated if they can deliver a strong ROI’, current trading strong: Scoffs Group – the largest Costa Coffee franchisee in the UK with 112 stores – has told Propel it has discontinued its Miss Millie’s operation, and that future ventures outside its core Costa Coffee business “will only be operated if they can deliver a strong return on investment (ROI)”. Scoffs signed a franchise partnership with fried chicken brand Miss Millie’s in March 2022, with a ten-site deal encompassing Southampton and the south east region. A debut site in Southampton followed but no other locations opened, and Scoffs has now passed the site to another Miss Millie’s franchisee. Propel understands no long-term decision has been made with regards to the partnership. Chief operating officer Paul Turner said: “The group conducted a strategic review of its Miss Millie’s proposition, localised brand strength and customer demographic and concluded this operation did not meet the group’s expectations, and therefore discontinued operations. This ensured all new ventures outside of its core Costa Coffee business, will only be operated if they can deliver a strong ROI.” He added Scoffs will open several Burger King sites early next year following the signing of a partnership with the Bridgepoint-backed business in August. “The group continues to drive growth across its brands, with a new Costa store opening in Forest Gate, London, and its first Itsu, in Exeter, opening in the first quarter,” Turner added. “Burger King site openings are planned for the first quarter of 2024, with further locations under consideration and negotiations across both brands. Current trading proves strong versus 2022, with the group seeing like-for-like sales up 7.8%. Recent price increases have broadly left transactions flat, with customers tending to continue to treat themselves to their daily coffee.” It comes as the business saw a pre-tax profit of £6,936,648 in 2021 fall to a loss of £636,512 in the year to 31 December 2022 as costs increased by almost £10m. Ebitda also dropped from £9,820,634 to £3,240,870 as government support fell from £3,044,424 in 2021 to £886,840. Turnover increased from £35,884,701 in 2021 to £46,651,943, while dividends of £149,750 were paid (2021: £87,000). This in turn followed an “end-to-end review of the group’s organisational structure” triggered by the acquisition of 20 Costa stores in Cornwall. “Several changes had been implemented post this review, including the creation of a central operations team,” director Anthony Tagliamonti said in his statement accompanying the accounts. “Further momentum built with the appointment of a new head of property, who works alongside a professional, outsourced property consultancy firm and a number of third-party specialists tasked with scaling and improving the efficiencies and potential of the group. This aligns with the group’s newly selected blue-chip franchise brands, which have partnered with the multi-unit, multi-brand business that the group is now developing into. These partnerships provide new, dynamic quick service restaurant offerings for the group to scale across the UK. The group is now structurally primed for further and significant growth into 2023 and beyond. The group has set up a sub-group to facilitate the acquisition and operation of other franchise brands and stores.” 

 

Five Guys CEO John Eckbert to speak at final Propel Multi-Club Conference of 2023, three free places per company for operators: John Eckbert, chief executive of Five Guys, will be among the speakers at the final Propel Multi-Club Conference of 2023. The conference takes place on Thursday, 16 November, at the Millennium Gloucester Hotel in London's Kensington, and is open for bookings. The all-day conference will focus on “progress in an era of strong headwinds”. Eckbert will discuss ten years of the brand being in the UK, its biggest challenges, how it stays ahead of the pack, and what the size of the prize is here and in Europe. For the full speaker schedule, click here. Operators can book up to three free places per company by emailing kai.kirkman@propelinfo.com.

 

Growing coffee shop businesses among new editions in The New Openings Database, features 894 site openings: Premium subscribers will receive the next The New Openings Database on Friday (6 October), at midday. The database features Greek coffee shop chain Coffee Island, which has opened a second UK site in north London, as it looks to expand its overseas presence. Coffi Lab, the dog-friendly coffee shop concept, has further increased its presence in Cardiff after opening a site in the Welsh capital. Meanwhile, Starbucks franchisee Cobra Coffee, which operates 66 stores, has opened a site in Lewes, East Sussex, and Starbucks’ first and largest UK franchisee, 23.5 Degrees, has reached the 100-store landmark with an opening at Tame Leisure Park in Tamworth, Staffordshire. The database will show the details of 894 site openings, including which company has opened a site or its plans to open one in the future. It will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published on a monthly basis and Premium subscribers will also receive a 44,000-word report on the new additions to the database. Premium subscribers also receive access to five other databases: the Propel Multi-Site Database, produced in association with Virgate; the Propel Turnover & Profits Blue Book; the UK Food and Beverage Franchisor Database; the Who’s Who of UK Food and Beverage; and the UK Food and Beverage Franchisee Database. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. Premium subscribers are also being given exclusive access to the recording and slides to Propel Multi-Club Conferences. They 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.

 

NLW rise to at least £11 per hour ‘slap in the face’ for sector, says NTIA: The Night Time Industries Association has said the decision to increase the National Living Wage to at least £11 per hour from April was a “slap in the face” for the sector. Hunt announced the move at the Conservative Party conference in Manchester, but NTIA chief executive Michael Kill said: “We see it as a token gesture that’s timed at our industry’s expense. It’s nothing short of a slap in the face for our already struggling businesses. The night-time economy has been battered by the pandemic, with our venues facing closures, restrictions, and crippling financial losses. Now, just as we’re trying to get back on our feet, the chancellor decides to unload the burden of a wage increase squarely on to the shoulders of operators. This move effectively erodes any positive impact from the current business rates support, and it shows a complete lack of understanding of the night-time sector’s fragile state. While we support fair wages, the timing couldn’t be worse. Our industry is struggling to survive, and we need a government that truly understands and supports us.”

 

UK families ‘eating less healthily’ due to cost-of-living crisis: Families are eating less healthily and turning to ready meals and processed foods due to the cost-of-living crisis, a study has found. More than two-thirds of people (69%) said they considered themselves to be healthy eaters but 28% said they were eating less nutritious food because it is too expensive, according to the BBC Good Food Nation survey. The Guardian reported the study of 2,013 adults across the UK found that 19% are eating more ready meals and processed foods because they are cheaper, while 17% are cooking less from scratch. The survey – which looks at shopping, cooking and eating habits – found three in five people (60%) have changed what they eat due to the rising cost of ingredients. This includes 16% who said they have cut back on organic ingredients and 12% who said they were eating less protein as they struggled to cope with higher food bills. The study found 15% are taking more packed lunches to work to save money. Overall, 61% said the cost of living had affected their healthy eating habits in some way, including being more conscious of eating healthily because they cannot afford to get sick (18%) and eating less healthily due to stress (15%). The poll found 13% said they were eating less healthily due to having less time to cook because of working longer hours. 

 

Job of the day: COREcruitment is working with a six-strong restaurant business which is planning “slow and considered” growth and is looking for a head of operations. A COREcruitment spokesperson said: “The business is looking for a senior operator who is hands on and loves working in an entrepreneurial business – the business is turning over £8m-£9m. It is looking for someone who is coming from a great business with the right mindset. Reporting into the founder, there is a strong identity and a great product to work with – this is about taking the day-to-day operations and running with it and improving an already thriving concept.” The salary is up to £80,000 and the position is based in London. For more information, email kate@corecruitment.com.

Exclusive – I am Döner signs first London franchise deal: I am Döner, the award-winning, better kebab brand backed by Think Hospitality, is to make its debut in London after signing its first franchise deal for the capital, Propel has learned. The latest franchise deal, facilitated by Seeds Consulting, will see Moshe and Agnieszka Forte operate the first I am Döner in London, in Camden. The brand, which has five operating stores in the UK and Dubai, will open a 30-seat site in Chalk Farm later this year. I am Döner chairman James Hacon said: “We are excited to sign this latest franchise deal and bring our brand to London, which will be the first of many within the capital. We look forward to conquering the capital with Moshe and Agnieszka.” Moshe Forte added: “We first came across I am Döner last year, we loved the brand and its ethos and we knew we had to bring it to London. We are honoured to be the first franchisee to bring the brand to London and I can’t wait to showcase the brand later this year.” Seeds Consulting founder Matteo Frigeri said: “Another milestone in I Am Döner’s carefully planned expansion, Camden will showcase the franchise to the capital's savvy operators: industry-leading margin and labour cost optimisation can lead to fantastic potential returns in a myriad of potential London sites. I am Döner is as hot as a franchise opportunity can get.” I am Döner features in the Propel UK Food and Beverage Franchisor Database, which is an exhaustive guide to the companies offering a food and beverage franchise in the UK and is available exclusively to Premium subscribers. The database is updated every two months and the latest version features 215 businesses. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription.

 

Eataly UK’s operation narrows losses as turnover hits £25m but trade impacted by labour issues: Italian food market and restaurant chain Eataly has reported UK turnover increased to £25,040,214 for the year ending 31 December 2022 compared with £17,249,240 the previous year. Pre-tax losses narrowed to £1,299,263 from £4,797,240 the year before. In his report accompanying the accounts, director Luca Sabadin said: “For the 2022 financial year, the company suffered impacts related to labour and lack of qualified employees, which together with some delay in restaurants opening, had a negative impact on sales and the company’s performance. The increase of raw material cost and energy prices also had a negative impact. The business has undertaken actions aimed at mitigating price increases by partially agreeing energy costs with suppliers, which started from the second quarter of 2023.” The company made its UK debut in April 2021 when it opened in London’s Bishopsgate, with the 42,000 square-foot space spanning two floors. Founded in 2007 by Oscar Farinetti, Eataly operates more than 40 food markets across 16 countries around the world.

 

Biryani Kebab Chai owner confirms opening of second site that marks the start of ‘major expansion plans’: The owner of London concept Biryani Kebab Chai (BKC) has confirmed it will open a second site, marking the start of a “major expansion plan” for the concept. Propel revealed in August that BKC had secured a site in Moor Street, Soho. BKC founder Jeet Mitra has confirmed the concept, which focuses on Awadhi cuisine and currently has a site in Marble Arch, will launch the new restaurant today (Tuesday, 3 October), with additional sites lined up over the coming years. The new restaurant will offer a more expansive menu, with new dishes including Bhatti Ka Khargosh (chargrilled grilled rabbit legs infused with allspice and yoghurt) and Kathal Ki Shami (pan-seared jackfruit and walnut patties served with coriander chutney). Mitra said: “BKC is so close to my heart as I have been eating this style of food since I developed my taste buds as a kid. Being in this industry for 20 years has afforded me the privilege to open BKC, and I hope to convey my passion and culture to the people of the UK in the coming years.” As also previously revealed by Propel, Mitra also confirmed a second site for his cocktail bar concept Coupette, which launched its debut site in Bethnal Green in 2017, will open next door to the new BKC. Emma Wright, of CDG Leisure, acted on the Soho deals.

 

West Yorkshire bakery concept Hadfields acquired out of administration: West Yorkshire bakery concept Hadfields has been acquired out of administration. Megan Singleton and Mark Colman, of Leonard Curtis, were appointed as joint administrators of Hadfields the Bakery on 14 September 2023. Leonard Curtis helped secure a buyer for the company and its assets – safeguarding 76 jobs at its 12 shops. Hadfields has been operating in the Huddersfield area for more than 60 years, having opened its first shop in 1959. The business had run into difficulties in recent months due to inflation, which led to an increase in costs of utilities, ingredients and other overheads. The administrators said the Hadfield directors invested a significant funds into the business to try to keep it running.

Notes returns to the expansion trail: Notes, the London coffee shop and wine bar concept owned by WSH Group, the parent company of BaxterStorey and Benugo, has returned to the expansion trail with an opening in Tottenham Court Road. The 13-strong business, which WSH Group acquired last November, has opened in the former Rush hair shop at 105 Tottenham Court Road. Robert Robinson and Fabio Ferreira founded Notes in 2010. Its coffee shops across the capital include sites in Canary Wharf, King’s Cross, Moorgate and Trafalgar Square. Notes also owns a roastery in Canning Town, east London, and an online retail business.

Richard Corrigan Restaurants sees turnover exceed pre-pandemic levels but makes a loss, strikes have ‘enormous impact’ on London sites: Richard Corrigan Restaurants has reported turnover exceeded pre-pandemic levels but made a loss in the year ending 31 December 2022. The company, led by Richard Corrigan, chef patron of the Corrigan Collection, had returned to profit in the previous year but saw a £156,109 pre-tax profit turn into a £216,897 loss. Costs increased by more than £3m, while no government grants were received compared with £266,533 in 2021. Turnover increased from £9,032,197 in 2021 to £15,742,036 and was also up on the last pre-covid figure of £11,038,213, in the year to 31 December 2019. Of this, £10,811,957 came from UK operations (2021: £6,844,887) and £4,930,079 from the Republic of Ireland (2021: £2,187,310). Further analysis shows £8,492,085 came from food (2021: £4,724,861), £5,793,541 from drink (2021: £3,138,128) and £1,078,932 from room rental (2021: £521,090) plus smaller amounts from other operations. Corrigan said: “Although covid-19 related challenges continued into the beginning of 2022, the full year saw revenue exceed pre-pandemic levels. However, converting those revenues became a much harder task, with material cost pressures across all parts of the business, and pre-opening costs of new openings also impacting profits for the year. Our prime assets continued to trade very strongly, which has helped mitigate the wide-ranging challenges the entire sector continues to face. Despite those challenges that continued to impact the entire hospitality sector up to end of 2021, and into the first quarter of 2022, the group traded well when it could. It is fair to say now that 2022 was very much a ‘one-off’ in terms of revenue and we do not expect to see those levels again for the time being, and 2023 continues to be further impacted by the ongoing strikes, which have an enormous impact on our London trading. Despite that, the business remains in a strong position, supported by its board, strong asset base and ever evolving and growing customer base.” No dividends were paid (2021: nil).

Olive Tree Brasserie to open in Leeds: Mediterranean restaurant brand Olive Tree Brasserie is to open a new site before the end of the year, in Leeds. Propel has learned the Dean Wilson-led business will open its fourth site on the ex-Mr Foley’s Cask Ale House site at 159 The Headrow, in the city, in December. The business said: “Following huge success of our restaurants in Lytham, Chester and Stockton Heath, we are ready to please the people of Leeds with our amazing food, drinks and vibes.” At the same time, Wilson has been linked with opening a new concept, Gyros Street Food, in the former Venus unit in Manchester’s Oxford Street.

Michael Caines’ five-star Devon hotel makes a loss as food costs remain ‘stubbornly high’ and business invests in new developments: Chef Michael Caines’ five-star Devon hotel, Lympstone Manor, made a loss in the year ending 31 December 2022 as food costs “remained stubbornly high” and the business invested in new developments. A pre-tax profit of £829,610 in 2021 turned into a loss of £395,461 off turnover of £6,284,506, up slightly from £6,072,845 in 2021. Of this, £2,373,398 came from hotel accommodation (2021: £2,634,979) and £3,289,042 from food and drink (2021: £2,959,957). Caines said having been optimistic of “a bounce back and strong trading throughout the year” and “set ourselves an ambitious budget”, the business was hit by challenges including the Russian invasion of Ukraine, staff shortages and rise in the National Living Wage. “While price points have been increased, there were signs of a slowdown in the third and fourth quarter,” Caines said. “Food costs remain stubbornly high as we struggled to track rising prices, with food inflation finishing at 14.3%.” Despite recording a loss, Caines said the accounts “also represent the capitalisation of assets that we have invested into the business through the creation and renovation of the hotel, restaurant, vineyard, shepherd huts and the pool house”. He said: “These figures should therefore be seen in the context that these assets are depreciated quickly over the next few years. The board of directors are happy with the performance in relation to the hotel’s financial position. The business is cash flow positive and continues to accumulate funds. The staycation boom is now over and a focus on international trade is key as we seek to replace the outbound UK traveller. We will continue to plan for growth and in seeking to fund ongoing development plans.” No dividends were paid (2021: nil).

BVC Group launches burger takeaway concept in Soho: The BVC Group, the company behind Mayfair-based restaurant North Audley Cantine and dessert shop concept Crème, has launched a burger takeaway concept in London’s Soho. Founded in 2013 by Jeremy Coste, David Bellaiche and Gabriel Cohen-Elia, BVC has opened Supernova on the former Absurd Bird site in Peter Street. Earlier this year, BVC, which sold its Ahi Poke business to Poke House in 2021, expanded North Audley Cantine to the Middle East with a double opening. The business launched its first overseas North Audley Cantine sites, in Riyadh, Saudi Arabia; and Doha, Qatar. These will be followed soon by a further site in Dubai, situated within the new Huna Residence development in Jumeirah. The Dubai site will be the largest Middle Eastern opening for the concept and comprises a vast indoor seating area and exterior terrace. At the same time, the business operates two Crème sites in London, three in Bahrain, three in Saudi Arabia, and one in Paris. CDG Leisure acted on the Peter Street deal and advised on the international launches.

PureGym secures £805m refinancing to support expansion plans: PureGym, Britain’s biggest health and fitness club operator, has secured an £805m refinancing to support its expansion plans over the next five years. It said Pinnacle Bidco has finalised terms for the offering for two tranches of senior secured notes – €380m (£330m) and £475m – with both due in 2028. The group has also agreed an increased senior credit facility of £175.5m (previously £145m) from a syndicate of banks including Barclays, RBC, Deutsche Bank, ING and JP Morgan, taking investor commitments to almost £1bn. The funding is set to support the group’s plans until 2028, including ongoing significant expansion in the UK, Switzerland and the Middle East. Humphrey Cobbold, chief executive at PureGym Group, said: “We are delighted to have priced this refinancing, one of the largest of its kind in the sector’s history. We view this as a huge vote of confidence in PureGym, our recent trading, management team and strategy. We have been on a journey from start-up to being a market leader in the UK, and then on to international expansion in Europe, and more recently further afield. We now have the certainty and resources to action our clear plans to extend leadership in our existing markets and continue expansion elsewhere. We are clear that scale players will lead this market in the years to come and are pleased to be one of a handful of international operators responsible for driving activity levels across the world.” PureGym currently operates circa 550 sites, with about 1.9 million members, and is majority owned by Leonard Green & Partners.

 

Merlin Entertainments CFO to retire: Merlin Entertainments has announced chief financial officer Alistair Windybank intends to retire. Windybank will remain in place for at least his 12-month notice period and will continue to support the team, and the board, “as they identify the most suitable successor and ensure an orderly and smooth handover”. Windybank joined Merlin in 2008 and has held various senior finance roles, including head of corporate finance, group investor relations director, senior finance director and deputy chief financial officer. He was appointed acting chief financial officer in July 2020 and formally appointed chief financial officer in November 2020, including responsibility for Merlin Group IT and procurement. Prior to Merlin, he qualified as a chartered accountant at Deloitte, where he specialised in audit and assurance. Merlin Entertainments chief executive Scott O’Neil said: “I would like to thank Alistair for his outstanding contribution over the last 15 years. Even before he was chief financial officer, he was a key member of the team, and has played an important part in Merlin’s international growth and success. Notably, he played a key role in taking the company public in 2013 and more recently in helping steer Merlin successfully through the pandemic.” Windybank added: “With a world-class portfolio of attraction brands, an exciting investment pipeline and an amazing team, the business is well positioned to continue its growth into the future.”

 

Lancashire KFC franchisee confident of achieving positive Ebitda despite drop in turnover and profits: Lancashire KFC franchisee 1st Rate Investments has said it confident of achieving positive Ebitda in 2023 despite a drop in turnover and profits. The business, which operates 22 stores in the north west, made a pre-tax loss of £1,409,287 in the year ending 25 December 2022 following a profit of £2,788,397 in 2021. Turnover fell from £41,086,872 to £38,149,258 while Ebitda dropped from £5,700,281 to £444,179. Director Safar Abbasi, in his statement accompanying the accounts, said: “The decrease in turnover is primarily due to the increase in VAT rate from 5% last year to 20% during the year. Despite the current adverse economic conditions including inflationary pressures, it is still anticipated that the group will continue to achieve positive Ebitda in 2023.” No dividends were paid (2021: £1,700,000).

 

Team behind Michelin-starred Taku Mayfair to open new Japanese concept in Hampstead: The team behind Michelin-starred London restaurant Taku Mayfair is to open a new Japanese concept in the capital. Ine, a direct Japanese translation for rice, will offer a premium sushi and a contemporary Japanese à la carte menu alongside a 15-course omakase menu with speciality sake and wine. The restaurant will be split over two levels in four distinct spaces. Seating a total of 50 diners, Ine – which will launch on Tuesday, 24 October – will feature a main dining room, an eight-seated omakase counter and a semi-privatised lounge space. Ine will offer a contemporary Japanese menu with French influences, with highlights from the à la carte menu set to include: lobster with cauliflower and sudachi jelly; and grilled Iberico pork. The omakase counter will see 15-courses (£100) prepared, echoing the Michelin-starred Taku’s everchanging menu. Ine will also offer a traditional cocktail menu. Co-owner Geoff Leong said: “Our mission is to provide an experience that captures the essence of authentic Japanese cuisine with contemporary twists and traditional omakase cuisine, in the heart of north London. We have always pushed the boundary of the UK’s perception of Asian food through the creativity of our chefs and we will be applying this same ethos to Ine in the same way we did with Taku Mayfair.” 

 

Knoops secures first Scottish site: Luxury hot chocolate shop concept Knoops has secured its first site in Scotland, in Edinburgh. The 13-strong business will open on the former Starbucks site on the corner of George Street and Castle Street in the Scottish capital before the end of the year. Earlier this month, Knoops opened its latest site, in Bath’s Old Bond Street. It is also lining up openings at the former Blackstocks fish and chips shop at 33 Northgate in Chester, and in Guildford’s Market Street. On the back of the Bath opening, chief executive William Gordon-Harris said: “With Chester, Guildford and Edinburgh all in production and the next few far into negotiations, we should hit our 20-store milestone in this financial year.” The business plans to open more than 120 sites in the UK and 3,000 globally within the next seven years.

 

Caffe Concerto set to open second site outside of London: Patisserie chain Caffe Concerto will open its second site outside of London, and 21st overall in the UK, in Leeds this autumn. It will open at the Victoria Leeds shopping centre, featuring outdoor seating onto Harewood Street, joining 19 sites in the capital and one in Birmingham – plus four in Saudi Arabia and one each in France and Qatar. It comes a year after the business revealed it had completed the company voluntary arrangement (CVA) it entered into in April 2021 a year early, after one of its company directors borrowed £200,000 to inject as a one-off payment. The brand was subsequently placed up for sale in November 2022 by its owners, Lux Management & Investments Group, with FRP Corporate Finance understood to be overseeing the sale process. Also opening at Victoria Leeds this autumn is Sheffield bakery and patisserie brand Le Blé, which offers coffee art and Mediterranean-inspired goods, from desserts and sandwiches to cakes and croissants. It follows the recent opening at the centre of a 16th location for Brighton tea business Bird & Blend Tea Co, which offers a range of more than 100 blends. Jo Coburn, senior general manager at Victoria Leeds, said: “We want to strengthen our part in the cultural life force of the city, and the way to do that is to attract the new, exciting well-known brands, and also independent locals.”

 

Crest Hotels renews banking facilities as major refurbishment programme temporarily reduces trading and profitability: Privately-owned hotel group Crest Hotels has renewed its banking facilities as a major refurbishment programme temporarily reduced its trading and profitability in the year ending 31 December 2022. Pre-tax profits fell to £221,073 from £1,117,645 in 2021 off turnover of £6,931,879, up from £5,237,859 in 2021. It received £21,734 in government grants compared to £538,018 in 2021, while the previous year also included £100,000 in business interruption income. Director Gurjinder Singh, in his statement accompanying the accounts, said: “The directors believe the results for the year are satisfactory as the hotel sector has recovered from the difficult trading conditions that affected the sector in 2020 and 2021 due to the covid-19 pandemic. During the year, the group carried out a major refurbishment programme across some of its hotels, which temporarily reduced trading and profitability. While 2022 turnover has increased beyond pre pandemic levels, profitability has been temporarily reduced while the refurbishment programme has been ongoing. Banking facilities across the group have either been renewed during 2022 or since the year end in 2023.” During the year, Crest Hotels acquired the Metropole Hotel & Spa in Powys, Wales, for its seventh site. Dividends of £76,100 were paid (2021: £77,186).

 

Hollywood Bowl acquires Lincoln site: Hollywood Bowl, the UK’s largest ten-pin bowling operator, has acquired a site in Lincoln. The company, which operates 71 centres nationwide, has acquired the 20-lane Lincoln Bowl and plans to transform the centre with a £500,000 refurbishment in early 2024. David Williams, operations director at Hollywood Bowl said: “We are excited to be bringing the Hollywood Bowl family bowling and entertainment experience to Lincoln and are committed to investing in the centre’s future with centre-wide enhancements taking place early next year. We are also delighted to be welcoming the existing Lincoln Bowl team into the Hollywood Bowl family. To get the ball rolling we will make some immediate changes, allowing guests to pre-book online and wear their own shoes to bowl in.”

 

Worcestershire McDonald’s franchisee sees turnover rise but profits fall: Worcestershire McDonald’s franchisee HJL restaurants, which operates three restaurants in Worcester and one in Hereford, saw turnover rise but profits fall in the year ending 31 December 2022. Turnover rose from £15,398,758 in 2021 to £17,516 117 while its pre-tax profit dropped from £1,383,811 to £269,211 as costs rose by more than £2m. No government grants were received compared to £74,911 in 2021. Owner Trevor Smith said: “As an operator of a chain of four limited menu quick service restaurants, I consider our key performance indicators are turnover and gross profit. The year ended 31 December 2022 has returned good results, with an increase in turnover of 14% (2021: increase of 70%). The gross margin for the year, however, has fallen to 41% (2021: 47%). As for many businesses we believe the trading environment that we operate in to be challenging.” Dividends of £79,000 were paid (2021: £97,000). Smith, a former Butlins worker, has been a McDonald’s franchisee for 15 years, having returned to the company after previously working there as a trainee manager.

Zoilo owner Diego Jacquet to launch bakery and pizza concept: Diego Jacquet, chef patron of Zoilo restaurant in London’s Marylebone, is set to launch a new bakery and pizza concept in the capital. Propel understands that Jacquet is planning to open a site under the new Florencio concept, which he has developed and operated as a pop-up with chef Marcelo Di Giacomo. It is thought that Jacquet has lined up an opening in Seymour Place, Mayfair, for the new venture. 

Chickpea Group and Immersive Group owners to launch first permanent venue for new brewery venture: Chickpea Group co-founder Ethan Davids and The Immersive Group co-owner Dave Hancock are set to launch the first permanent venue for their new brewery venture. Opening tomorrow (Wednesday, 4 October), Rude Giant Beer House in Salisbury comes from the team behind Rude Giant Brew Co, which was launched in April. They have taken on the site of former music venue Brown Street, on the road of the same name, for the “destination bar and dining space”. Inside, the 1,500 square-foot venue will have two spacious seating areas totalling 80 covers (one inside and one outside courtyard), with a stage area for live music and weekly DJ sets. There will also be a weekly quiz night and regular events such as “meet the brewer” evenings, open mic nights and “bring your own vinyl” specials. The food offering will include smash burgers, mac ‘n’ cheese and bar snacks, while alongside the beers will be a wine list of European classics and natural and organic drops from Wiltshire wine merchants, plus signature cocktails and no-and-low options. Davids said: “Establishing Rude Giant’s first permanent space feels like a massive step for the brewery and something we are all excited about. We’re a Wiltshire-based business, and for us, provenance is key, so it’s only right that our first beer house is in the city we all grew up in.”

Urban Pubs & Bars to make transport hub debut this month with Waterloo station opening: London operator Urban Pubs & Bars will make its transport hub debut this month, with an opening at Waterloo train station. As revealed by Propel in June, Urban Pubs & Bars will open The Victory, which will feature a “premium pub offer”, in the ex-Sports Bar & Grill site plus an adjoining unit, on the first floor in the station’s concourse. The opening of the 5,080 square-foot site on Wednesday, 11 October will take the company’s portfolio to 42 pubs, bars and restaurants in the capital. 

 

Twickenham pub let to Hall & Woodhouse placed on the market: The freehold investment of The Eel Pie pub in London’s Twickenham has been placed on the market, with offers in excess of £3.87m sought. The asking price reflects a net initial yield of 4.25%. The property is arranged over four levels extending to 6,749 square feet, with ground, basement and two upper floors, as well as external seating. The entire property is let to Hall & Woodhouse on a lease expiring in February 2050 at a rent of £175,000 per annum. Stuart Stares, director in the licensed leisure team at Savills, which is marketing the freehold investment on behalf of a private client, said: “Despite economic headwinds, the London leisure and hospitality sector remains very robust, and we are continuing to see strong consumer demand. The Eel Pie offers a unique opportunity for investors seeking defensive assets, which are let to an established operator.”