Kevin Charity to step down as Coaching Inn Group CEO and retire, Richard Lewis to become RedCat group CEO: RedCat Pub Company, the investment vehicle founded and chaired by Rooney Anand, has announced Kevin Charity, the founder and chief executive of the Coaching Inn Group, will be stepping down from his role at the end of March and retire. Founded by Charity in 1996, the award-winning Coaching Inn Group operates a portfolio of iconic and historic coaching inns and pub hotels across the UK. Acquired by RedCat in August 2021, it has nearly doubled in scale, growing from 18 to 35 sites. RedCat said Charity has built an outstanding team and a compelling culture that delivers excellent customer service and customer experience, bringing to life these historic properties, culminating in the industry leading company it is today. Richard Lewis will step up and become chief executive of RedCat Pub Company, comprising RedCat managed pubs, leased and tenanted pubs, and the Coaching Inn Group. Lewis joined RedCat in October last year and brings a wealth of experience, having had a successful and extensive career in pubs and before that in retail; he joined Greene King as the managing director of Local Pubs in 2011, rising to become chief operating officer. Anand said: “I would like to express my sincere thanks for all the help and support Kevin has given the team since RedCat acquired Coaching Inn Group. Kevin has built an outstanding team and a compelling culture that delivers a customer service and experience second to none. Kevin's passion and entrepreneurial spirit have been instrumental in shaping the Coaching Inn Group into the thriving and winning business it is today. He leaves with our admiration, collective thanks, and sincere best wishes for the ‘next chapter’. I would also like to congratulate Richard on his appointment to the role of chief executive of the group. He’s made a terrific impact since joining us and I know he will continue to drive momentum and success across Coaching Inn Group and RedCat.” Charity added: “It’s hard to believe 28 years have passed since founding the Coaching Inn Group, as I step down as chief executive. I am grateful to have had the privilege of leading this great team and I am immensely proud of how far we have come together. I would like to thank RedCat for the support and backing given to me, helping us to enable the growth of the Coaching Inn Group into the high-quality portfolio it is today. As I hand over the reins, I am very confident that Richard, and the wider team will forge an exciting future for both the Coaching Inn Group and RedCat Pub Company.”

Mowgli founder Nisha Katona to speak at first Propel Multi-Club Conference of 2024, open for bookings: Nisha Katona, founder of Indian street food concept Mowgli, will be among the speakers at the first Propel Multi-Club Conference of 2024. More than 350 places have been booked for the conference, which takes place on Thursday, 21 March, at the Millennium Gloucester Hotel in London’s Kensington, and is open for bookings. Katona talks to Propel group editor Mark Wingett about growing into a national brand, the challenge of keeping close to the brand’s growing consumer base, and what comes next for the business both in the UK and internationally. Operators can book up to three free places per company while Premium subscribers who are operators can book up to four free places. To book, email kai.kirkman@propelinfo.com.

Premium Club members to receive Restaurant Marketer & Innovator European Summit Conference videos and next Who’s Who of UK Hospitality on Friday: Premium Club members are to receive all the videos from this year’s Restaurant Marketer & Innovator European Summit Conference on Friday (16 February), at 9am. Members will be sent 26 separate video presentations, featuring more than 60 speakers. They include Simon Potts, chief executive of the Alchemist, sharing his experience of international expansion from initial research and market studies to launching the first site, in Berlin in early 2023. They also include Joe Cripps, managing director at Feed it Back, examining the journey from traditional marketing methods towards sleek, personalised, CRM-driven strategies with Juliette Keyte, marketing director at Red Engine; Laura Lewis, marketing director at Arc Inspirations; Joanna Richardson, marketing director at Heartwood Collection; and Vikki O’Neil, global marketing director at Vapiano. Also on Friday, at midday, Premium Club members will receive the next Who’s Who of UK Hospitality, which features 863 companies. Another 31 companies have been added and this month’s edition will also include 71 updated entries and more than 230,000 words of content. The companies, listed in alphabetical order, will have their most recent results reported as well as broader information around Ebitda, plans and trading style available. The database merges Companies House information, interviews and other public information to provide an easy to reference and exhaustive guide to the sector. Premium members also receive access to five other databases: the Multi-Site Database, which is produced in association with Virgate; the Turnover & Profits Blue Book; the New Openings Database; the UK Food and Beverage Franchisor Database and the UK Food and Beverage Franchisee Database. 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.

Job of the day: COREcruitment is working with a multi-site hospitality business that is looking for an experienced finance director. A COREcruitment spokesperson said: “You will manage the day-to-day financial operations of the UK business, supporting the country managing director and group chief financial officer in UK finance legislation, law and strategies. Your responsibilities will include the overall responsibility for the whole finance department, developing and leading the finance team, ensuring that all statutory financial and taxation reporting is completed in line with relevant deadlines. You will oversee the group budgeting and forecasting processes, lead reporting on the UK business and give financial modelling and analysis, ensuring that strong cash management and cash flow forecasting systems are in place. You will contribute as required to investment appraisals and M&A/disposal activity, delivering group system strategy and reportage on a daily and monthly basis, delivering monthly UK business financial reports.” The salary is up to £120,000 and the position is based in Cardiff. For more information, email oliwia@corecruitment.com. 

 

Coco di Mama – trading rhythm in London more stable, growth focused on high-quality, seven-day-a-week locations: Azzurri Group has said that the more stable trading rhythm seen in central London in the second half of its financial year has affirmed its long-term strategy for its Coco di Mama business in the capital to be a small, high quality, well-located and profitable estate that acts as the “showroom” for the brand. It said: “Our 14 like-for-like London stores have navigated another challenging year in the wake of the pandemic as the office worker routine recovery continues, including significant trading disruption from the ongoing rail and London Underground industrial action. In the second half of the year, notwithstanding the strike impacts, trading rhythm became relatively stable for the first time in more than three years as City office workers established a more settled two-three days per week in the office on average. This has affirmed our long-term strategy for the London stores to be a small, high quality, well located (adjacent to high office density locations) and profitable estate that acts as the ‘showroom’ for the brand by being a centre of excellence for operations and brand standards, and the innovation hub for brand development. The London stores typically trade over the five weekdays, with midweek Tuesday to Thursday experiencing notably higher volumes than Monday and Friday. Where we have had the opportunity, on a store-by-store basis, we have renegotiated leases to match the current market conditions and office worker density, and where office worker density has recovered insufficiently, we have exited the lease, such as our Southbank store. Therefore, the growth opportunity for new Coco stores in London will be focused on high-quality, seven-day-a-week locations. To this end, we have opened a new London store in the heart of Canary Wharf, which has the attraction of meaningful office worker density, a new corporate catering catchment to target, a proven rich aggregator delivery zone, and seven days a week trading to capture leisure, retail and residential customers.” Last February, Coco di Mama opened its first regional standalone site in Reading. However, Azzurri Group chief executive Steve Holmes told Propel earlier this week he doesn’t think the concept is going to work in the regions. He said: “We’ve still got one in Reading, but we pulled out of doing one in Oxford. We’re working very well in Liverpool Street station – that’s been a real success. We’ve done very well in Canary Wharf, and on the roadside, where we are up to eight sites with Roadchef. Coco does very well in high footfall, high traffic type locations with people who are on the move. It’s working in railways, is working on the roadside, and I’m sure it will work in airports.”

 

Rhubarb repays more than £50m of debt following US acquisition, group ‘looking forward to a period of investing in growth’: Rhubarb Hospitality Collection, the premium international hospitality group, has repaid more than £50m of debt following its acquisition by a US entertainment group and is now “looking forward to a period of investing in growth”. Los Angeles-based Oak View Group, backed by Silver Lake, acquired Rhubarb in June 2023 in a deal believed to be worth at least £100m. In its accounts for the year ending 31 December 2022, the group said: “As part of the change of control, bank debt consisting of a unitranche facility of £35,000,000 and an acquisition facility of £8,000,000 were repaid in full. In addition, loan notes and loan note interest of £8,434,562 were repaid in full. This transaction has mitigated much of the pre-existing risks relating to going concern and the group is now looking forward to a period of investing in growth.” It comes as the business reported turnover more than doubled in the period, while adjusted Ebitda increased more than five-fold, but its losses also grew. Turnover was up from £43,315,450 in the period from 12 February 2021 to 31 December 2021 to £105,532,894 in 2022. Its adjusted Ebitda was up from £2,026,840 to £10,971,164 and its pre-tax loss grew from £7,696,778 to £11,415,970. Rhubarb Food Design contributed turnover, gross profit and adjusted Ebitda of £38.1m (2021: £11.8m), £8.7m (2021: £1.1m) and Ebitda of £2.7m (2021: loss of £1.8m), respectively. Rhubarb at Sky Garden contributed turnover, gross profit and adjusted Ebitda of £21.1m (2021: £11.9m), £9.4m (2021: £4.8m) and £4.2m (2021: £1.6m). 22 Bishopsgate by Rhubarb contributed turnover, gross profit and adjusted Ebitda of £4.5m (2021: £3.2m), £1.9m (2021: £1.1 m) and nil (2021: £0.9m). UK operations contributed £63,710,015 (2021: £26,422,415), the US £41,315,237 (2021: £16,315,450) and Europe £507,642 (2021: nil). The company received no furlough income (2021: £673,104) but did get £1,276,000 in US government assistance (2021: £349,965). No dividends were paid (2021: nil). Exceptional items in the year relate to mobilisation costs of £827,498 while exceptional items in the previous period relate to mobilisation costs of £452,343 and an accrual for potential legal settlement of £423,066. Post year end, the lease was terminated at Wild Ink, one of the group’s New York restaurants. There remains a debtor due to Rhubarb Food Design for £6,754,021 provided against the 2022 financial statements of that entity as recovery will be limited. Director Laraine Beament said: “The directors are pleased with the group’s results for 2022 and are confident that the strong performance and significant new contracts won in 2023 will provide foundations for further growth. 2022 Ebitda is ahead of 2019 pre-pandemic levels and the group has made a satisfactory return to trading post covid-19 pandemic.”

 

Honest Burgers reports 12% lfl growth in January, sees record sales in fourth quarter of 2023: Honest Burgers, the Active Partners-backed business, has reported record sales during the last quarter of 2023, and 12% like-for-like growth last month compared with January last year. The 39-strong business, which last month appointed Thomas Kelly, formerly of McDonald’s and Costa Coffee, as its new chief executive, said it served more than 1.1 million customers in the last three months of 2023, contributing to like-for-like sales growth of more than 22% in December. It said 70% of Honest Burgers sites nationwide also saw record sales weeks during the period. The company said this strong performance continued into 2024 with 12% like-for-like growth versus January 2023. Kelly said: “It has been an amazing Christmas period with sales surpassing expectations. This has continued into January, and we are looking forward to the rest of the year and working hard to exceed our customers’ expectations, with our friendly restaurant teams serving the very best burgers in the UK. There is a great sense of pride in everything we do at Honest, and it is great to see our customers recognising that.” It comes as Honest Burgers recently reported a record year of sales for the year ended January 2023, with full year sales of £48.3m – up £10.1m (26%), while adjusted Ebitda for the period was £3.5m. Last October, Honest Burgers closed a crowdfunding campaign after raising close to £3m, including £1m from Active. The campaign had a pre-money valuation of £31m and ended offering equity of 8.57%. The company plans to use the funding to return to the expansion trail and launch a new premium quick service smashed burger concept called Honest Smashed.

 

Exclusive – Gong Cha set to make Midlands debut: Gong Cha, the fast-growing bubble tea brand headquartered in the UK, is set to make its Midlands debut, Propel has learned. Launching at 109 New Street, Birmingham, in March, it will be Gong Cha’s 15th store in the UK, creating 20 jobs. Founded in Taiwan in 2006, Gong Cha operates nearly 2,100 stores in 24 countries and has plans to scale up to 10,000 stores by 2032, including 500 in the UK. Justin Goes, Gong Cha’s development director for the UK & Ireland, said: “We’re thrilled to debut Gong Cha in Birmingham, bringing Gong Cha’s high-quality and ultra-customisable offer to the Midlands for the first time. Birmingham is a unique city, with a fantastic blend of local consumers and tourists visiting to shop. This gives us an exciting opportunity to raise awareness of the Gong Cha brand, supporting our mission to make Gong Cha the go-to bubble tea brand for consumers. The global bubble tea market is soaring and expected to reach $4.3bn by the end of 2027. The new store opening in Birmingham forms part of our plans to expand our portfolio to more than 500 stores in the UK and Ireland and we’re looking for multi-site franchisees to join us on this exciting journey.” Earlier this week, Gong Cha secured its first master franchise agreement in Africa, with Mad Vision Group, its master franchisee in Belgium, the Netherlands and France, signing up to expand it into Morocco. It follows last month’s signing of a 300-unit franchise deal in Saudi Arabia with Shahia Foods Group, one of the Gulf’s biggest food companies. Gong Cha 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 Club members. The database is updated every two months and the latest version, sent out earlier this week, features 235 businesses. 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. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.

 

Company behind Forza Win appoints chair among trio of new hires to accelerate growth plans: The company behind Italian restaurant Forza Win in London’s Camberwell, and the Forza Wine bar concept, has made a trio of appointments, including Adam Walford as chair, to accelerate its growth plans. Walford has more than 20 years’ experience of helping restaurant businesses grow through his role as a hospitality focused lawyer leading Howard Kennedy’s retail and leisure sector group. He recently retired from the partnership at Howard Kennedy to allow him to spend more of his working time “indulging his passion for restaurants, and in particular businesses with strong growth potential”. Walford said: “[Owners] Bash [Redford] and Michael [Lavery] have built an iconic restaurant concept, adored by a loyal following of customers. The adoration reflects Forza’s uncompromising focus on hospitality being done right in a culture-focused environment. This, alongside the compelling and high-quality food and drinks offering, makes up all the vital ingredients to grow the business and take it to the next level.” The company has also appointed Claire Wright as operations manager. Wright previously held the role of operations director at Toklas throughout the opening in 2021. Prior to that, she held roles at both Smokestak and Manteca. In a new role for the business, Anna Robinson has joined the group as head of digits. Joining the team from MJMK Restaurants, Robinson worked as marketing manager across its sites, with the most recent opening of Casa do Frango in Victoria last summer. She previously worked at agencies Me:Mo, Gerber Comms and also at Ennismore during the opening of The Hoxton Southwark. Forza Wine operates sites on the north west terrace of the National Theatre and on top of Peckham’s Market building. The business said it is “actively on the hunt for the right spaces”. 

 

Hunky Dory Dining Group set to open Chinese restaurant in Glasgow for 12th site: Scottish operator Hunky Dory Dining Group is preparing to open a Chinese restaurant in Glasgow for its 12th site. The business, led by Paul Sloan, is converting the former Prezzo premises in St Vincent Place into Zhima, which will have 150 covers. Sloan told Propel: “Zhima is Glasgow’s first contemporary, opulent Chinese restaurant.” Hunky Dory Dining Group also owns three Topolabamba Mexican restaurants in Edinburgh and Glasgow, three Chaakoo Bombay Cafes in Edinburgh and Glasgow and Panang Thai in Glasgow. The business also operates four other sites in the north of Scotland under different concepts.

 

Freemans Events Partners to launch new F&B concept at Lord’s Cricket Ground: Freemans Event Partners, the UK-based global multi-service event partner, is set to launch a new sports stadium food and drink retail concept at Lord’s Cricket Ground later this year, building on its existing partnership with owner Marylebone Cricket Club. The new two-floor structure will bring a wide variety of food and drink options together under one roof, giving spectators increased choice and, through the implementation of self-checkout kiosks, a quicker experience with less queuing. The concept is set to streamline the purchasing process, including a bar/drinks outlet on one floor and takeout self-service food on the other. All items can be purchased in one location in one transaction. It is expected to cut 36 seconds from the average transaction time. The outlet is set to be introduced in May, ready to be used by the 500,000 visitors that come to Lord’s each season for the domestic and international cricket matches, including England men’s internationals against the West Indies, Sri Lanka and Australia, and the England women’s match against New Zealand. Simon Hanna, chief operating officer at Freemans Event Partners, said: “We are committed to providing sports fans with the best matchday experience possible, and a key part of this is focused around food and drink. This innovative new concept at Lord’s Cricket Ground is set to revolutionise how match-going fans purchase food and drink at the iconic venue, giving them greater choice and reducing queues, ensuring they can get back to enjoying the action as swiftly as possible.”

 

Hydes to make multimillion-pound investment into pub estate: North west brewer and retailer Hydes is to make a multimillion-pound investment into its circa 50-strong pub estate this year. Hydes will begin the investment programme with a refurbishment of its pub and boutique hotel, The Abel Heywood, in Manchester’s Northern Quarter. Hydes is committing a £200,000 investment to the project and will reopen the pub on Saturday, 9 March The on-site boutique hotel has a 99% occupancy rate and will remain open throughout the renovations. The investment forms part of a wider multimillion-pound programme planned for other key sites in Hydes’ portfolio including significant investments at The Boat House in Parkgate on the Wirral; The Nursery Inn in Heaton Norris, Stockport; and The Mount Inn in Chester. The investment total will run into seven figures for the year including smaller-scale refurbishments at a number of additional Hydes pubs. Last year, Hydes committed more than £4m worth of investment in its estate. Hydes managing director Adam Mayers told The Business Desk: “The Abel Heywood is a key venue and kicks off a series of investments that will see us continuing to commit to the ongoing refurbishments of all pubs in our estate. This follows significant investment programmes for the previous two years, resulting in the revitalisation of multiple sites. The Abel Heywood, with its adjoined 15-room boutique hotel, is a firm favourite in the city’s Northern Quarter and this investment will enable it to build on the success and reputation it has established since we first acquired it nearly a decade ago. Starting with The Abel Heywood, our ongoing investment in the estate not only highlights the commitment to delivering exceptional customer experience, products and services, but also underpins the integral role in the communities it serves. Investment in our pubs and our people is top priority at Hydes and this will continue throughout the coming year, strengthening our offering and enhancing the overall experience for all our customers and guests.”

 

Two Michelin-starred Cheltenham Indian restaurant plans expansion, seeking Cotswolds site and open to collaborations: Two Michelin-starred Cheltenham Indian restaurant Prithvi is planning to expand and is seeking a suitable site in the Cotswolds for its next location. Since opening in the town’s Bath Road in February 2012, Prithvi has offered “contemporary Indian cuisine and a modern gourmet experience in Gloucestershire”. It is fronted by two Michelin star-trained head chef Thomas Law, who has worked in some of the best kitchens in New York, Australia and the UK. Now its owner, Jay Rahman, is looking to expand its offering further afield and is on the lookout for any viable locations, including spaces within existing hospitality properties that would be keen to collaborate with the concept. “We’re really excited to start exploring locations for a second Prithvi somewhere in the Cotswolds, so if there are any suitable businesses in the area that would be keen to talk to us about a potential collaboration, I would love to engage with them,” he said. “Of course, I’m very open to hearing from other businesses as far afield as London that we could potentially partner with, too.” With waiting times often up to two months for weekend bookings, the restaurant offers à la carte five-course and seven-course tasting menus and also has its own sommelier. Rahman added: “We’re proud of the success Prithvi has had to this point and are now in a position to extend that further with a new establishment. We love creating spaces that allow our guests to share their most cherished moments and a second location will enable us to double that.”

 

Apollo among interested parties in Starbucks stake: US private equity firm Apollo Global Management, backer of Wagamama owner The Restaurant Group, is among the parties looking to buy a minority stake in the Middle East, North Africa and central Asia Starbucks franchise operated by Kuwait’s AlShaya Group. Reuters reported that AlShaya is looking to sell a minority stake of about 30% in the business as part of a process dubbed “Project Emerald”. Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, is also understood to be still involved in the talks. The Starbucks unit operates 2,000 outlets in 13 countries across the Middle East and North Africa, Kazakhstan and Azerbaijan. It was valued at between $4bn and $5bn in 2022.

 

Non-alcoholic brand LA Brewery to launch £1m fundraise to support growth: Non-alcoholic brand, LA Brewery, is launching a second crowdfunding campaign as it aims to raise up to £1m to support its growth. The Suffolk-based business – which includes Dishoom, Hakkasan, Itsu and Nando’s among its customers – uses fermentation to create flavour, with ingredients including white tea, rhubarb, rose petals and hop flowers. The raise on Crowdcube also follows customer research from LA Brewery that found more than a third (34%) of Brits now claim to abstain from alcohol completely and a quarter (25%) identify themselves as sober curious. LA Brewery plans to use the funds for upweighted digital marketing for e-commerce customer acquisition, as well as capacity investment in the company’s Suffolk brewery, which the B Corp business said will drive production efficiencies and accelerate new product launches. LA Brewery previously conducted a crowdfund in 2021, also with Crowdcube. Last year, LA Brewery’s revenue increased 88% and similar growth is forecast for the year ahead. Louise Avery, founder of LA Brewery, said: “Our first crowdfund enabled us to unlock our potential allowing us to invest in a lifestyle brand that has gone from strength to strength. This second raise comes at a time when the no and low industry is booming. We have an exciting 2024 ahead of us.” In September, the business appointed Meg Ellis as its new managing director. Ellis was previously commercial director at Honest Burgers, the Active Partners-backed business, and helped build the restaurant estate to 45 sites. 

 

SSP appoints Daniella Giersch as new people director: SSP Group, the UK operator of food and beverage outlets in travel locations worldwide, has appointed Daniella Giersch as the new people director for its UK and Ireland business. Giersch joins SSP after six and a half years at the Pick n Pay Group, one of Africa’s largest retailers, where she was head of HR and engagement. Prior to that, she spent seven years at executive recruitment business Odgers Berndtson. 

 

US-based seafood restaurant concept Saltie Girl closes UK site: US-based seafood restaurant concept Saltie Girl has closed its sole UK site, in London’s Mayfair. Saltie Girl – which specialises in lobsters, oysters, caviar and premium tinned seafood – made its UK debut on the former Prezzo site at 15 North Audley Street in November 2022. The concept is part of the Met Restaurant Group, which is led by US restaurateur Kathy Sidell and owns and operates five restaurants in and around Boston, including the original Saltie Girl. For the UK launch, Sidell partnered with Varun Talreja, co-founder of contemporary Greek restaurant Meraki, which opened in Fitzrovia in 2016. The opening of the London restaurant coincided with the launch of a Saltie Girl outpost in Los Angeles.

 

Aspers reports attendances up 11% but spend per head down 15%, forecasts 18% revenue rise in 2024 as it employs more staff to meet demand and moves flagship casino to 24/7 operation: Casino business Aspers has reported attendance figures were up 11% in the year to 30 June 2023 but spend per head was down 15%. It has also forecast a 18% revenue rise in 2024 as it employs more staff to meet increasing demand and moves its flagship casino to a 24/7 operation. Director Richard Noble said: “Revenue is forecast to grow by 18.8% in 2024, driven by a series of initiatives including recruitment of additional table and poker staff to satisfy proven levels of demand, moving Stratford’s opening hours to 24/7, renewing electronic roulette machines, rolling out shuffleboard and employing additional food and beverage staff.” It comes as the business reported a pre-tax loss of £8,444,000 for the period compared with a profit of £2,640,000 in 2022. Turnover was down from £64,637,000 to £61,022,000 while Ebitda dropped from £8.2m to £2.2m. Noble said: “Group trading revenues in the year reduced by 6% due to a reduction in customer spend levels resulting from the cost-of-living crisis. This led to a 15% reduction in spend levels per head. Challenges with staff recruitment further contributed to the declining revenue position with reduced numbers of gaming and food and beverage (F&B) staff resulting in fewer open tables and a less efficient F&B offering. On a positive note, attendance figures grew by 11 % against prior year, reflecting the delayed return of the leisure player to the business. Attendance was boosted by enhancing the appeal of the casino estate, including the opening of a licensed betting office at Stratford and the successful rollout of Aspers Live and delivering live music from local talent.” Noble said energy costs rising by £1.2m, plus £500,000 of inflationary related cost increases and the removal of government support worth £687,000 in 2022 contributed to a 73% decrease in Ebitda. “While revenues have dropped, attendance levels encouragingly show an upward trend,” he added. “The focus of the activities of the group will remain the Stratford casino. Growth continues to be challenging in all the land-based casinos. These headwinds are further compounded by ongoing machine number constraints in the UK. The proposals published in the government’s white paper in April 2023 will undoubtedly provide both challenges and opportunities for the group moving forwards.” As previously reported, the group obtained a further £5m facility from its shareholders in September 2023 that has been fully drawn down. It also has a fully drawn down £7m revolving credit facility in addition to £40m still owed on a long-term loan following its 2021 refinancing.

 

Everyman secures deal for proposed new cinema in Lichfield: Everyman, the independent, premium cinema group, has secured a deal to operate a proposed new cinema in Lichfield. Everyman has signed for the scheme within the former Debenhams store at the town’s The Three Spires shopping centre. The four-screen cinema will be complemented by five food and beverage units – three on the ground floor, one on the first and one on the second – reports Insider Media. An Everyman spokesperson said: “We are delighted to be coming to Lichfield within the Three Spires, opening as the only cinema within the city centre. We are confident that Everyman’s innovative lifestyle approach will be an asset to the city centre, enhancing the leisure offering. The boutique cinema experience that Everyman adopts has been a success in other places across the UK and we look forward to bringing the Everyman experience to Lichfield.” Last month, Everyman said it has lined up four new openings in 2024 and will consider further acquisitions after reporting 16.7% revenue growth for the year ending 28 December 2023. The new openings include Bury St Edmunds in the first quarter, Durham and Stratford (London) in the third and Cambridge in the fourth.

 

Gino D’Acampo opens new Manchester restaurant: Chef Gino D’Acampo has opened his new restaurant and bar in Manchester. The premium Italian restaurant and bar – Gino D’Acampo, Manchester – has open at the Innside by Melia Manchester hotel following a £800,000 refurbishment of the First Street venue, which D’Acampo’s team previously operated under the First Street Bar & Kitchen brand. The 200-seated restaurant includes two bar areas offering signature cocktails, Italian and international wine, spirits and artisan beer, plus an 80-seat alfresco drinking and dining space. The menu is separated into 11 key sections – bread and olives; sharing plates; bruschetta and antipasti; carpaccio and tartare; salads; pasta and risotto; real Neapolitan pizza; classic Italian mains plates; steaks; and a selection of side dishes. These sit alongside a number of new “at-table theatre dishes for an elevated dining experience” – such as baked whole seabass in a thyme-flavoured salt crust and flamed with grappa at the table; or spaghetti al tartufo served from a pecorino wheel at the table. D’Acampo said: “I couldn’t be more pleased to unveil my beautiful new restaurant here in the heart of Manchester. It’s no secret I have a real love for the city, and I’m excited to open with my most exciting menu to date.” The Gino D’Acampo restaurants brand is part of Upmarket Leisure, which, as previously reported, is planning a further three UK openings in 2024.