McDonald’s CEO – UK digital engagement at an ‘all-time high’, well positioned to get balance right between price and traffic growth: Chris Kempczinski, chief executive of McDonald’s, has said that digital engagement with the brand reached an all-time high in the UK, and that the business is well-positioned to maintain the balance between price growth and traffic growth. Speaking after the business posted global like-for-like sales up 3.4% in its fourth quarter, Kempczinski said: “Success in this industry is always about having balance, and you need to have both traffic growth and price growth. That’s the long-term formula for success, so that’s kind of what we use as our north star. I think we’re set up really well to have that kind of balance. We are seeing some of our highest customer satisfaction scores around the world. We’re seeing our operations in almost every single country around the world get better. I think globally, in Q4, we saw service times improve by ten seconds.” He said consumers will continue to be “more discriminating with their dollars”. He said: “I think we are moving into a 2024 that’s going to look more like what you would have considered a typical year prior to covid and all the things that have gone on.” The company said sales to loyalty members reached over $20bn (£15.96bn) in 2023, up 45% versus 2022 levels. Kempczinski said: “As we continue to attract millions of new loyalty members, we can get even smarter with our pricing methodology and tailor our digital offers to our fans, making them even more personalised.” He said expanding its saver meal deals in the UK to offer smaller bundles during the morning day part for just a few pounds – a deal that was only available through its mobile app – “further cemented McDonald’s UK as a destination for great food at great value, while contributing to increased loyalty sales”. He said: “The UK also combined the strength of the McDonald’s brand with its proven history of connecting with customers through successful holiday marketing to create ‘Festive Wins’, an elevated in-app experience that leaned into the holiday spirit with a fun and interactive calendar promotion. Through our combination of daily deals, compelling prizes and exclusive merchandise, Festive Wins boosted digital engagement to an all-time high for the market and generated four million active monthly customers.”

 

AlixPartners MD Graeme Smith to speak at first Propel Multi-Club Conference of 2024, open for bookings: Graeme Smith, managing director at AlixPartners, will be among the speakers at the first Propel Multi-Club Conference of 2024. The conference takes place on Thursday, 21 March, at the Millennium Gloucester Hotel in London’s Kensington, and is open for bookings. Smith maps out the current investment landscape in the sector, the main buyers, sellers’ expectations and what the rest of the year may bring. Operators can book up to three free places per company while Premium Club members who are operators can book up to four free places. To book, email kai.kirkman@propelinfo.com.

 

Next edition of Propel Turnover & Profits Blue Book shows percentage of companies in profit falls for first time since October 2022: The next Propel Turnover & Profits Blue Book, to be sent to Premium Club members on Friday (9 February), shows 66% of the 875 largest sector companies are now in profit, but this is down from 68% in December when the database was last released. It is the first time the figure has fallen since October 2022. The Blue Book shows 576 companies in profit and 299 reporting losses. The Blue Book is updated each month and ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Premium Club members also receive access to five other databases: the Multi-Site Database, which is produced in association with Virgate; the New Openings Database; the UK Food and Beverage Franchisor Database; the Who’s Who of UK Food and Beverage; and the UK Food and Beverage Franchisee Database. Members are also to be given access to the entire recording of the 2024 Restaurant Marketer & Innovator European Summit Conference. Members will be sent 30 separate video presentations, featuring more than 60 speakers on Friday, 16 February, at 9am. Propel has evolved its Premium subscription offer by launching Premium Club. All circa 4,000 existing subscribers automatically became members. Premium Club comes with even more benefits. All subscribers will be offered a 20% discount on tickets to four Propel paid-for events – The Excellence in Pub Retailing Conference (14 May), Social Media for Profit (18 July), the Talent and Training Conference (1 October) and Restaurant Marketer and Innovator (two days in January 2025). Operators will also be able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club members receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club members will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct subscribers to all the vital content their membership offers. Premium Club members also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Propel Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or a supplier. Email kai.kirkman@propelinfo.com today to sign up.

 

Six-week Martyn’s Law consultation launched, feedback from businesses sought: New laws that will scale up preparedness for terrorist attacks are to be consulted on, ensuring the public is protected without putting unnecessary burdens on smaller businesses. Martyn’s Law will require premises to fulfil necessary but proportionate steps, according to their capacity, and is named in tribute to Martyn Hett, who was killed alongside 21 others in the Manchester Arena attack in 2017. Under the proposed law, premises will be considered “standard tier” if they have a capacity of 100-799 or “enhanced tier” with a capacity of 800 or more. The consultation will seek views to make sure new requirements do not place undue burdens on smaller businesses and is open to the public until Monday, 18 March. Security minister Tom Tugendhat said: “I want to make sure our proposals are balanced and proportionate. That’s why our updated approach is easy to implement and better tailored to individual businesses. I’d encourage smaller premises to share their feedback on these crucial changes. Your feedback will help ensure that Martyn’s Law stands the test of time.” The updated proposal removes requirements such as staff at smaller venues completing specific terrorism training. Instead, those responsible for such premises will be asked to put in place procedures such as evacuation and lock-ins in the event of an attack. A Martyn’s Law regulator will be established to monitor compliance and advise premises within scope of the legislation, and premises within standard tier will be required to notify the regulator that they are within its scope. According to the Home Office, the revised approach is designed to be “low-to-no financial cost, with associated costs largely driven by the time taken to communicate them to staff”. It said following the conclusion of the consultation, the Bill will be introduced as soon as parliamentary time allows.

 

Job of the day: COREcruitment is looking for a director of food and beverage for a new hotel opening in Lisbon, Portugal. A COREcruitment spokesperson said: “This is a huge operation that will see you hold full operational accountability for up to ten outlets within this hotel space, consisting of four restaurants, four bars, counter and café space. This role will see you spearhead the project with the support of the London team – you will work alongside the hotel as a partner providing the food and beverage services. You will recruit, train and develop the team and aim for operational excellence and commercial success. This isn’t the business’ first rodeo, so you are working with a solid play book but now entering a new market. The business is looking for someone who understands Lisbon and the Portuguese culture and can bring the standards of chef-led restaurants from an international grounding to the table.” The salary is up to £75,000. For more information, email kate@corecruitment.com.

 

Pret signs deal to launch in Africa: Pret A Manger has signed a “landmark deal” with private equity firm Millat Group to launch in South Africa, which the JAB Holdings-backed brand called a “major milestone in our international expansion”. It is a first foray on the African continent for the brand, which currently operates around 650 shops in 18 countries. It said that there are already “significant expansion plans earmarked for South Africa over the next ten years”. Millat Group said the first Pret site under the new agreement will open in Johannesburg this quarter before expanding to Cape Town, Durban and Pretoria “over the coming months”. Pano Christou, chief executive at Pret, said: “Bringing Pret’s freshly made food and organic coffee to the African continent for the first time marks a major milestone in our international expansion. Partnering with the Millat Group to launch Pret in South Africa is hugely exciting, with our Johannesburg shop set to be the first of many in the South African market.” The Johannesburg-based Millat Group also holds the exclusive licence to operate US convenience brand Circle K in South Africa, as well as Hyatt House hotels in Cape Town and Johannesburg through a partnership with Chicago-based global hotel company Hyatt. Additionally, the private equity firm operates the dark kitchen restaurant brands Dhaba and Gimba in Johannesburg. Millat Group chief executive Hamza Farooqui said: “Pret A Manger has the best-in-class offering of organic grab-and-go and a foodservice offering that stands out. This partnership is in line with Millat’s strategy of bringing global brands into South Africa. We also believe that this is an important step in elevating the consumer experience in South Africa and appreciate the confidence shown by Pret to partner with Millat.” Last month, Pret opened its first stand-alone site in Canada, taking over an ex-Tim Hortons site at 90 Adelaide Street West, Toronto. This after last summer opening its first Canadian site under its agreement with A&W Food Services, in Vancouver. The deal to bring Pret to the country over an initial two-year trial phase began with the brand opening a store-within-a-store model in the A&W site at Marine Gateway. Pret has since grown its Canadian presence to seven sites through the format.

 

Dishoom eyes roll out of Permit Room concept: Indian restaurant group Dishoom is eyeing a roll out of its new all-day café concept, Permit Room, with sites in Cambridge and Oxford under consideration, Propel has learned. Dishoom launched the first stand-alone Permit Room in Brighton last November. Propel now understands that Dishoom is working on opening a second site under the concept on the former Strada site in Cambridge’s Trinity Street. The site had previously been earmarked by Hostmore for an opening under its 63rd+1st concept. At the same time, Dishoom is understood to have applied to open a Permit Room on the ground floor of North Bailey House in New Inn Hall Street in Oxford. The debut Permit Room, which launched in Brighton’s Lanes area, draws inspiration from the “beer bars and drinking holes” that flourished in post-prohibition-era Bombay. It is named after the official term for all Bombay drinking establishments, in which, according to the Bombay Prohibition Act of 1949, only permit-holders may consume alcohol. Talking about the launch of the stand-alone Permit Room to Propel last November, Dishoom managing director Brian Trollip said: “It will be an all-day experience where you can come and have some amazing cocktails in the evening, then we’ll cure your hangover with an amazing breakfast, and you could still be there three or four hours later with your laptop and a cup of chai.” The first Dishoom opened in Covent Garden in 2010 and the business now has seven restaurants in London, one in Edinburgh, one in Manchester and one in Birmingham, plus a dozen delivery kitchens and an online store. The company opened its first Dishoom site in south London, in Electric Boulevard next to the Battersea Power Station development, last December. The 235-cover site also houses a Permit Room bar.

 

Wagamama to up openings target, plans ten new sites this year: Wagamama, The Restaurant Group-owned brand, is to up its openings target for this year, with ten new openings in the UK planned. The brand has opened its first new site of the year in Bentley Bridge, Wolverhampton, and said it plans to increase the number of sites this year as “demand continues to grow for its iconic benches and nourishing bowls”. The expansion plans will create more than 500 jobs including kitchen porters, hosts, chefs and general managers. Wagamama will open its fourth site in Glasgow, in the city’s St Enoch shopping centre on Monday, 19 February, offering 130 internal covers and creating 57 jobs. It will be the brand’s 161st UK restaurant and will be followed by openings in Epsom (March), Doncaster (April), Chatham Maritime (May) and Woodside Leisure Park Watford (May), with others to follow in the second half of the year. It comes after the brand opened six new sites last year. Thomas Heier, chief executive of Wagamama, said: “We’re proud to be opening ten new sites in the UK in 2024. The past year has been an exciting year for us where we’ve evolved the brand through innovative new menu launches while also launching new brand collaborations such as our slow fashion uniform partnership with Pangaia. Our teams have done an excellent job in continuing to elevate our guest experience and we very much look forward to welcoming more guests to our benches in 2024.”

 

Chopstix continues transport hub rollout with London Victoria site: Fast-growing, quick service restaurant brand Chopstix has opened its second equity site of the year, and further increased its transport hub presence, with an opening in London’s Victoria. The brand has launched in Victoria Place, the shopping and eating destination above Victoria station, following an opening in Basingstoke’s Festival Place shopping centre in January. The new Victoria Place site is located on the shopping centre’s first floor food terrace and the company said its marks another important strategic step in growing the brand’s presence at high-profile transport hubs. It said this has proven highly effective at not only driving revenue but also supporting the brand’s uplift in awareness. The brand’s portfolio of sites at travel hubs includes motorway service area units, rail and tube sites, as well as London Luton airport, its first airport location, which launched last summer. Jon Lake, managing director of Chopstix, said: “Operating in high footfall transport hubs not only drives revenue, but also grows brand awareness, so we’re delighted to have secured such a high-profile location at Victoria Place. Our transport hub sites play an important strategic role in our expansion plans. However, it is clear our success is not restricted to one format or location, with shopping centre sites, high street stores and locations at holiday resorts all delivering excellent returns. It’s going to be another big year for Chopstix and opening two fantastic equity sites is exactly how we wanted to start 2024.” The business, which said it has a strong pipeline of new sites through both company operated and franchise ownership models, currently operates more than 100  Chopstix sites, in addition to ten Yangtze outlets and 25 franchises operating under the Chozen Noodle brand.

 

Caffe Concerto plans second Covent Garden site: Patisserie chain Caffe Concerto is planning to launch a second site in London’s Covent Garden. Propel understands that the business, which currently operates 20 sites in the capital, plus one in Birmingham, is set to take on the former Le Pain Quotidien site in The Market. Caffe Concerto already operates a site in Long Acre, Covent Garden. Last year, the company said it would open a second site outside of London, at the Victoria Leeds shopping centre. Caffe Concerto also operates two sites in Saudi Arabia and one each in France and Qatar. 

 

JD Wetherspoon boss hits backs at TimeOut article, brands claim of ‘ongoing decline’ as ‘absurd’: JD Wetherspoon boss Sir Tim Martin has hit backs at a TimeOut article about the business and branded as “absurd” the media outlet’s claim that the pub chain is experiencing an “ongoing decline”. Sir Tim also hit back at claims regarding the company’s acquisition of historic buildings, furlough payments to its staff and his own views on immigration in the article, which was published on 31 January. But the first point he addressed concerned a statement that “…given the number of people that rely on Spoons for a £4.79 burger meal or a £1.99 pint of Greene King IPA, the company’s ongoing decline is no joke”. “The statement that the company is in ongoing decline is demonstrably false,” a company statement said. “Like all pub companies, Wetherspoon was unable to make a profit during the pandemic. However, in its last financial year, ended July 2023, Wetherspoon made a pre-tax profit of £42.6m. Sales in the current financial year, as publicly available documents demonstrate, are at record levels. To characterise a very large recent improvement in financial performance as an ongoing decline is absurd.” The article went on to say that Wetherspoon had been criticised for turning grand premises such as former cinemas, theatres, banks or bingo halls into identikit pubs. The company countered that refurbishments had been carried out with the approval of English Heritage, “retaining and upgrading historic features wherever possible”, and had won a significant number of awards for design. The company next addressed a claim that during the pandemic, Sir Tim “initially refused to offer staff furlough payments, before public outrage caused him to backtrack”. Wetherspoon said this is “entirely fictitious” and Sir Tim had “at no stage said the company would not pay its furlough payments”. The statement added: “All staff were paid weekly/monthly throughout the pandemic – not one payment to employees was missed or delayed.” Finally, the company took issue with a statement that “Sir Tim was even forced to sidestep his anti-immigration views and call for a new visa scheme to allow hospitality workers to enter the UK”. Wetherspoon said Sir Tim has never expressed anti-immigration views and that immediate corrections are being sought from TimeOut. Sir Tim said: “Even though Wetherspoon has received enough corrections and apologies from the media to fill a magazine in respect of the sort of misrepresentations contained in the TimeOut article, they continue to be repeated – and to be believed, as a result, by a percentage of the public. By this process, the lie becomes the truth.”

 

New World Trading Co opens first The Botanist in Liverpool: Graphite Capital-backed pub restaurant group The New World Trading Company (NWTC) has opened the first restaurant and bar in Liverpool under its the Botanist brand. The business has converted its the Club House site at Chavasse Park leisure terrace in the Liverpool ONE scheme to its core brand. Propel understands that the company is also looking into converting its The Canal House site in Birmingham to The Botanist name. The Liverpool-based The Botanist joins Loretta’s Parkside Tavern on the terrace and will soon be joined by a flagship Flight Club site. The 6,400 square-foot restaurant features the brand’s carefully curated food menu and crafted cocktails, with live music also planned. It follows Liverpool ONE reporting its strongest start to a year in more than half a decade, with a 9% increase in visitor numbers during the first three weeks of January 2024 versus 2023. As previously reported, Fulham Shore is also set to launch a new Real Greek restaurant there on Sunday (11 February) – also a city debut for the brand.

 

Chickpea Group set to launch new pub concept in Salisbury for seventh site: Chickpea Group, the hospitality business founded by siblings Ethan and Jordan Davids along with Tommy Tullis, is set to launch a new pub concept in Salisbury. In a departure from their tried and tested rural pub-with-rooms formula, The Market Inn will launch a new line of pubs focusing on “great food and drinks”. Located in Salisbury’s historic market square, the pub, which dates to 1904, will have 60 covers inside and a further 80 outside, spilling on to the square. Using local suppliers, a pared-back menu overseen by executive chef Harry Russell will offer handmade pies, “proper fish and chips” with curry sauce, and bar snacks including scotch eggs and Westcombe cheddar and cider rarebit. The bar will serve local ale, a concise wine list and lager from Rude Giant Brew Co, which Ethan Davids co-founded last year. The pub, which is currently being renovated, sits next door to another Chickpea Group venture, pizza restaurant Nole on the Square, with guests able to order pizza to take into the pub to eat. “I’ve always loved the Market Inn,” Ethan Davids said. “It’s been on our hit list since we opened Nole on the Square, so when the opportunity presented itself, it was a no brainer. This is a slightly different model to the pub we are used to opening because most of our pubs are destination food spots in the countryside. We love taking a punt on opportunities, getting our hands on places that would otherwise be closed, and we hope a pared-back approach to our normal pub food offer will be well received.” Chickpea Group, which was founded in 2019, last year opened its sixth pub with rooms, the Silver Plough in Pitton. Ethan Davids also last year launched the Rude Giant Beer House as part of his new brewery venture, plus The Wellington Arms in Marlborough, a third site for his wet-led vehicle Great Boozers.

 

Floozie Cookies opens first UK franchise site for regional debut, franchisee eyeing multiple sites: Floozie Cookies, the all-vegan stuffed cookie concept founded by Kimberly Lin in 2020, has opened its first UK franchise site. The concept, which is backed by Game Changers Investments and launched in London’s Covent Garden in December 2020, revealed plans in November 2022 to expand internationally and in the UK under a franchise model. It has now opened a food truck at Bicester Village through its first franchisee, HSD Capitol, which led by Harnek Dharar, a young entrepreneur who comes from a family with years of experience in operating franchise stores. It is also a first UK site outside of London for the brand, which has opened international sites in Expo City Dubai and Riyadh’s Al Mamlaka dining hall. Lin said: “It’s been a rollercoaster of a journey since we launched in 2020, and it’s exciting to see the brand being taken nationally to Bicester Village. With our original store situated in Covent Garden Market, we know that our offering is ideal for shoppers who are looking for an on-the-move treat, so when the opportunity arose to open our first franchise in Bicester Village, we knew it was going to be a success.” Dharar said: “Having come from a family that have been franchising and investing in hospitality brands, I’m excited to take on my own venture with Floozie Cookies. The launch of the truck has been hugely successful so far, and so we’re looking to scale up and take over multiple sites with Floozie Cookies.” Floozie Cookies said last year that it is aiming for 180 stories worldwide by 2027, including 35 in the UK. It also last year secured a US and Canada franchise deal with Oakscale and has targeted 100 sites there over five years.

 

Wendy’s franchisee looks to double up in Hull: Square Burger, which became Wendy’s first franchise partner when it relaunched in the UK in 2021, is looking to open a second site in Hull. The business opened what was declared as the world’s largest Wendy’s, in Hull, in December, taking over the former site of Papas Fish & Chips at Kingswood Retail Park. It has now applied to open a site in the city centre in an empty shop unit in Jameson Street. Wendy’s, the third-largest quick service restaurant chain in the US, currently operates circa 30 sites in the UK. Talking to Propel in November, Michael Clarke, senior managing director – Europe for Wendy’s, said that the “quick service restaurant burger market offers huge growth potential in the UK”, and that the business digital sales “are approaching more than 90%” here.

 

Ennismore set to open new Indian restaurant in London’s Notting Hill: Gleneagles and Hoxton hotels owner Ennismore is set to open a new Indian restaurant in the Notting Hill area of London. Hotel Dalhousie, named after a picturesque hill town in northern India, will open this summer at 226 Westbourne Grove, with a menu focusing on tandoor-cooked specialities. These will include burra kebab (mutton chops marinated in yoghurt and cream with spices and peppers), ajwaini prawns (tandoor king prawns with carom seeds, coriander and cumin) and patrani macchi (sea bass coated with coconut, green chillies, coriander, garlic and mint). It will join venues including Tandoor Chop House in Covent Garden and Notting Hill brunch cafe Eggbreak in Ennismore’s restaurant division. The kitchen will be led by chef Kundan Rawat, who has been at Tandoor Chop House since it opened in 2016 and will now oversee both restaurants. During the week, Hotel Dalhousie will open early for breakfast with a lighter menu, and at weekends, there will be a “mighty thali feast” on offer for brunch. It will also feature a separate bar on the ground floor, with Indian-inspired cocktails and a dedicated bar snack menu.

 

Pub snack brand overfunding on £200,000 crowdfunding campaign: Pub snack brand Serious Pig, which is backed by James Watt, co-founder of Scottish brewer and retailer BrewDog, is overfunding on a £200,000 crowdfunding campaign to help its on-trade growth. The London-based business, led by George Rice, has already raised over £210,000 from more than 400 investors, with 25 days remaining. It is offering investors equity of 1.26%, giving it a pre-money valuation of £16.5m. It will also use funds for a sales campaign for its snacking cheese – an oven baked pure cheese snack made in Italy. It comes after the business reported end of year results of £1.8m in 2023, up 73% from 2022. “2022 was a tough year as we faced a cascade of challenges, but we survived and that’s testament to our amazing team and loyal customers,” Rice said. “It was crucial to get back on track as quick as possible, and in 2023 and we managed to do that against the odds, but it’s really important to keep the momentum now, which is why we’re returning to Crowdcube. The last two years have been a massive test as hospitality has struggled and snacks have become less of a priority for buyers. But where craft beer showed us the way in terms of changing consumer demands, Serious Pig has followed, and still more and more pubs and bars want to offer a higher quality and more innovative range of snacks, so we’re the perfect fit. With new investment we can reach more craft beer led customers up and down the UK.” Serious Pig has more than 3,300 shareholders and 29,000 Club Seriously members. 

 

North east operators acquire third site: North east operators Craig and Stacey Wright have added a third pub to their portfolio. They have acquired the lease of The Big Jug in Durham, which belongs to Heineken-owned Star Pubs & Bars. The Wrights are undertaking a major £400,000 upgrade of the pub in Claypath with Star Pubs & Bars. The pub will reopen mid-March. The Wrights already run the City in Durham city centre, another Star Pubs & Bars leased pub, and The Green in Billy Row Crook, a freehold site 20 minutes west of the city. The revamp of the grade-II listed The Big Jug will see covers increase from 37 to 69 and a new live performance area will be created. Grab-and-go style food such as pizza, paninis and sharing boards will also be offered. Craig Wright said: “There aren’t many places in Durham that host regular live music. Our other pub, The City, is one of the few other places. As well as giving customers a reason to come out, it’s important that pubs continue to nurture grass roots music. Our existing pubs are performing really well – the village pub sells around 600 covers a week and The City sold 77,000 pints in 2023. When I first started out working in pubs 18 years ago, people wanted regular drinks; now it is premium products that are selling.” Star Pubs & Bars business development manager, Lance Green, added: “Craig and Stacey are experienced and successful pub operators with a detailed knowledge of the Durham market. They have turned around their other two pubs and will do the same with The Big Jug.”

  

The Arts Club returns to profit with ‘higher than anticipated’ Ebitda, repays CBILS and bank loans: The Arts Club in London’s Dover Street returned to profit in the year ending 31 December 2022, with “higher than anticipated” Ebitda. Post year end, it has repaid its £1.4m Coronavirus Business Interruption Loan Scheme (CBILS) loan, plus an additional bank loan, in full, the latter being replaced by a new £2m facility that has since been fully utilised. It comes after the business turned a pre-tax loss of £498,270 in 2021 into a profit of £2,118,068. Adjusted Ebitda grew from £4,602,498 to £5,664,164 while turnover was up from £21,683,359 to £29,724,098. Director Pritam Waney said: “The Ebitda is higher than the directors had anticipated. The food and beverage activity, despite the temporary closure of the first floor for almost six months, managed to increase revenue by more than £6.1m over 2021. The higher performance, along with a rigorous restructure of the costs and expenses started back in 2021, and despite no further government benefits received (2021: £851,061), the food and beverage division made an 18% profit – a record since opening. In the same way, membership revenue exceeded the 2021 results by £2.2m due to a steady and continuous Inflow of renewals. It is worth mentioning that the resignation ratio of the existing members has been quite remarkably low compared with the period pre-pandemic (steady at 4% versus 9%), which suggests that the club can count on a very strong base of loyal members.” Waney added that to combat staff shortages, the business has enhanced its fringe benefits packages and raised salaries 8.3% across all non-managerial positions, as well as introducing a loyalty award programme “to further incentivise and reward employee dedication”. The company also said, even with its positive operating Ebitda, it has applied a “substantial” impairment against an intercompany loan, with the additional loan amount of £1.75m being “fully set aside as a provision”. The impairment charge was down from £2,922,837 in 2021.

 

James Watt-backed Yum Bug to open debut permanent restaurant: Yum Bug – the cricket-meat company backed by BrewDog co-founder James Watt and Holly Branson, chief purpose and vision officer at Virgin – is to open its first permanent site. The north London start-up, pioneered by entomologist Aaron Thomas and designer Leo Taylor, will launch the venue in Finsbury Park on Tuesday, 20 February. It follows a three-week pop-up in Shoreditch in the autumn. Taylor told Hot Dinners: “This time, the bugs are back for good. We’re here to prove that insects are delicious, criminally underrated and fantastic for the planet. Our new Finsbury Park restaurant will be serving innovative small plates designed by the UK’s top chefs to showcase how incredible insects actually are.” Yum Bug has taken over the site in Fonthill Road which was previously occupied by chicken and beer concept Coqfighter, which relocated in August last year. The menu at Yum Bug – which includes dishes designed by Jay Patel, founder of Legare, and MasterChef winner James Nathan – features caramelised onion and cricket mince topped hummus; and sesame cricket polpette with kohlrabi, apple and pecan salad. Watt backed Yum Bug with £200,000 as part of his unicorn business funding competition last year.

 

Nando’s opens first site of 2024 with New Brighton launch: Nando’s has opened its first site of 2024 – in New Brighton, Merseyside, creating 35 jobs. The restaurant, which has 120 covers inside and 32 outside, has opened at Unit 2 in King’s Parade, offering click and collect, takeaway and order via Deliveroo. Dishes include the recently launched garlic churrasco burger and peri-mac and cheese, alongside frozen cocktails and bottomless iced tea. A Nando’s spokeswoman told Propel that the business has a number of openings planned in 2024.

Bedford family-owned pizzeria set to open second overseas site: Bedford family-owned pizzeria Naughty Pizza is set to open a second overseas site. Bart Misztal opened Naughty Pizza in Bedford’s Riverside Square in 2020, having previously operated mobile catering business, Mobi Pizzeria, in the city. Last year saw a second location open and first overseas, in Dubai’s Business Bay, having previously expanded its pizza equipment business in the country. It even landed a catering concession at the Abu Dhabi Grand Prix in November 2023, serving up its pizza within the Dutch fan zone. A second Dubai site is now under construction, within a shopping mall location, although the exact location has not yet been revealed. The business has partnered with Franchise Arabia in a bid to expand further in the region through franchising but has not ruled out UK expansion either. “The brand represents quality, we have many years of experience in the industry and are working towards perfecting our gourmet product,” it told the Bedford Independent. “Maybe in the future, we’ll see more Naughty Pizza restaurants throughout the UK.”