St Austell managed business lfls up 10% this year, remains acquisitive with accommodation a ‘growing part of business’: St Austell chief executive Kevin Georgel has told Propel the south west brewer and pub company’s managed business like-for-likes are up 10% this year and that it remains acquisitive, with accommodation a “growing part of the business”. Georgel was speaking after St Austell reported revenue increased 9.7% to a record £229,481,000 for the year ending 31 December 2023 compared with £209,153,000 the year before. “It’s been a difficult start to the year, but with the sun coming out and the weather improving, things are building,” he said. “We need a good summer and hopefully the (football) Euros will provide a boost to trade. Managed business like-for-likes are up 10%, which positions us at the top end of market performance.” Reflecting on what drove last year’s record performance, Georgel said: “Our managed pub performance showed strong like-for-likes, with double digit growth last year, and growth right across the business. We’re winning market share across all parts of the business, in the on-trade and off-trade, and we’ve invested a lot across the business, which is paying off. With cost pressures as they are – although they’re stabilising now – we need to be at our best and delivering exceptional experiences, and that shows in the market share we’re winning.” Georgel said the business “remains acquisitive”, and while “nothing is imminent” on that front, the business has “been looking”. He said location is key, with the “best sites in Devon and Cornwall” being sought, and that accommodation is a “growing part of the business”. In terms of industry trends, Georgel said St Austell is poised to re-enter the low and no alcohol category later this year with a new product launch, probably in the fourth quarter. He added that whichever party comes to power in next month’s general election, the hospitality sector is aligned in the need for a “sustainable fiscal and regulatory framework to allow industry to do want it does best – which we don’t have at the moment”. St Austell grew its underlying operating profit by 15% to £13,163,000 in 2023 (2022: £11,426,000) and generated £20.7m of underlying Ebitda before other items (2022: £18.1m), resulting in underlying Ebitda conversion increasing to 9.0% (2022: 8.7%). Underlying profit before tax was £9,449,000 (2022: £9,360,000) and overall statutory profit before tax was £7,997,000 (2022: £19,194,000), mainly from the increase in interest rates. St Austell features in the Premium Club Turnover & Profits Blue Book, which features 912 companies. Its turnover of £229,481,000 for the year ending 31 December 2023 is the 50th highest in the database. 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.

 

Premium Club members to receive two updated databases this week: Premium Club members are to receive two updated databases this week. The updated UK Food & Beverage Franchisor Database will be sent to Premium subscribers tomorrow (Wednesday, 12 June) at midday, featuring 13 new entries, with three removed. The database now has 260 entries and more than 135,000 words of content. Among the new entries are drinks brands Yano Cha and Urban Baristas. Also featured are sweet treat concepts Nitro Treatz and Cakes & Bakes. Premium Club members will also receive the next Turnover & Profits Blue Book on Friday (14 June), at midday. It will feature 29 updated accounts and a total of 926 companies. Of these, 584 are in profit and 342 have reported a loss. Premium Club members also receive access to four other databases: the Multi-Site Database, produced in association with Virgate; the New Openings Database; the UK Food and Beverage Franchisee Database; and the Who’s Who of UK Hospitality. Plus, all members will be offered a 20% discount on tickets to Propel paid-for events including 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 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.

 

Christie & Co – pub market is polarised between sub-£600,000 price mark and premium end: Stephen Owens, managing director of pubs and restaurants at Christie & Co, has said the pub market is polarised between the sub-£600,000 price mark and premium end. Owens also said tenanted pub companies are back in the market but there is unlikely to be huge scale M&A activity until interest rates start coming down. “Large parts of the transactional market remain challenging due to the interest rate hikes and inflation,” Owens told Propel’s Excellence in Pub & Bar Retailing Conference. “We still see pricing needs to adjust but pubs continue to change hands. We saw the early part of last year was quite challenging, but as we moved through the year, activity increased, and that’s certainly carried through into this year. The market is polarised – anything under £600,000 we’re seeing really strong demand for, and equally, the premium end of the market doesn’t seem to have a shortage of buyers. It’s that middle ground that’s really quite challenging because it’s more difficult to fund. Your cash buyer under £600,000 just takes a view on inherent property value underpinning the risk, and equally, the real premium asset buyers out there just view it as a once in a generation opportunity to pick up some really good stuff. We saw as we came out of covid it was the managed operators that were acquisitive, and now it’s the tenanted pub companies. Managed operators are certainly selective in what they are buying – the pool is thin at best. We saw [overall pub] prices dip last year (down 8%), and until we see interest rates coming down and the economy performing better, that’s probably going to keep a lid on price growth.” Owens said he believes tenanted pub companies will continue to be acquisitive while managed house operators will return to the market “but they’ll be cautious”. He added: “I think we will see private equity focus on more distress and value opportunities. In terms of the pub companies and the bigger pub operators, we’ll see them rationalise their estates now they’ve seen how trading is working post covid. We’re already seeing that with some of the pub companies trying to drip feed properties into the market and potentially float packages, and that’s difficult at the moment given the market. Hopefully we’ll see cost pressures start to ease, and that will give people confidence to come back into the market.” Owens said the “really interesting thing I’ve witnessed is the growth of the franchised or the managed operator model”. He added: “It sort of has the benefits of the manged model in terms of the economies of scale and the cost control of a tenanted model, and we’ve seen that grow to something like 2,500 pubs. Historically, it was the likes of Amber Taverns that ran exclusively franchised estates, but we’ve seen probably all the tenanted pub companies now embrace this as a model, and it seems to be working well. Some of the performances of franchised pubs have taken us by surprise. However, I certainly think the tenanted leased model is not dead by any stretch of the imagination.” Owens was speaking at Propel’s Excellence in Pub & Bar Retailing Conference – all the videos from which are now available to Premium Club members. A 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.

 

Sacha Lord calls for minister for hospitality: Sacha Lord, the Night Time Economy Adviser for Greater Manchester, has called on the incoming government to urgently appoint a minister for hospitality. Speaking ahead of the publication of party manifestos this week, Lord stated he believes that many of the issues the sector has faced in recent years would have been prevented had a dedicated minister been in situ. Lord said: “I urge the incoming government to consider installing a dedicated minister for hospitality as a priority. While the business minister, Kevin Hollinrake, has done well in recent months to liaise with the sector as part of his wider business remit, now is the time for a dedicated minister who is representing hospitality as their sole focus. The sector has been left to fend for itself for far too long, and this has resulted in multiple misunderstandings around policy as well as a wide-spread ignorance among MPs as to the importance of the industry. As the fifth biggest sector in the UK, and one which directly underpins UK tourism with a £93bn economic contribution, I am constantly bemused that there is no individual speaking on behalf of the sector in parliament, helping ministers understand the plight, concerns and needs of the operators. Over 23,000 venues have closed over the past three years amid the heavy toll of the pandemic, cost of living crisis and interest rate rises, and now is the time for clear direction and dedicated support. Appointing a dedicated minister for hospitality must be one of the very first moves by the incoming government to demonstrate that finally there is an understanding and appreciation of the importance of our industry.”

Cushman & Wakefield – significant opportunity exists for further growth in the experiential leisure category: Significant opportunity exists for further growth in the experiential leisure category, with a number of regional cities under-supplied relative to their potential demand profiles, according to property advisor Cushman & Wakefield. The company said that over 1.6 million square feet of prime experiential leisure exists within central London and the “big six regional cities”, accounting for close to 60% of the sector’s national footprint. It believes that there is room for over an additional 400,000 square-foot of space across key regional cities such as Birmingham, Manchester, Leeds, Bristol, Edinburgh and Glasgow. It said that both structural and cyclical factors are likely to maintain the sector’s momentum, and that it is likely to play a key role in how cities and retail landscapes evolve. The business said: “The experiential leisure sector not only offers an asset management solution to large and persistent voids, but also provides complementary footfall through the halo and gravity effect and has the possibility to pay good levels of rent for best-in-class locations. Continued success for key experiential leisure operators will improve the sector’s perception, while new concepts and IP are likely to maintain the sector's role as the forbearer of leisure innovation. This will be twinned by growing investor interest that will allow concepts to scale, with likely significant M&A activity resulting in some key market leaders.” Matthew Englender, associate director at Cushman & Wakefield, added: “The experiential leisure sector is proving itself to be a key component of placemaking and not just an opportunistic blip which rose to prominence off of ‘soft deals’ during covid-19. Brands in the sector are demonstrating an ability to generate competitive levels of sales in off-pitch locations, while also driving footfall during quieter times of the week.”

CAMRA – Lib Dem’s new commercial landowner levy proposal to replace business rates is ‘encouraging’: Proposals by the Liberal Democrats to replace business rates with a new commercial landowner levy have been described as “encouraging” by the Campaign for Real Ale (CAMRA). In its election manifesto, the Lib Dems have proposed having the tax based on land value rather than entire capital value. Other commitments include strengthening powers to allow community assets such as pubs to be protected and introducing a dedicated minister for hospitality and tourism. CAMRA chairman Nik Antona said: “It is encouraging to see commitments to overhauling the broken business rates system in England, which is desperately needed to help save our pubs. The commercial landowner levy could see more proportionate business taxes for the hospitality sector in many parts of the country and an end to the current system that disincentives investment in pubs. It is vital that the next government radically reforms the business rates system to stop pubs overpaying by around £500m each and every year – and to make sure online businesses pay their fair share compared with bricks-and-mortar businesses like much-loved community pubs.”

Pubs and bars set for Euros boost: Almost half (46%) of UK consumers plan to watch the Euro 2024 football tournament, with two in five (40%) of those planning to watch matches in pubs and bars, CGA by NIQ’s latest BrandTrack survey has revealed. Some 79% of those surveyed said they expect to go out to pubs and bars more often while the tournament is on, while consumers watching games spend an average of 36% more than those who don’t visit pubs and bars for live sport. A vast majority (87%) of sports fans will stay longer in a venue if sport is on, and nearly as many (83%) will spend more on drink and food on these occasions than on non-sporting visits. Showing sport can also boost loyalty as 89% of sports fans are more likely to revisit a pub or bar if they know games are screened, the survey revealed. However, 44% of those who plan to stay at home are doing so because they think they will have a better atmosphere, while 21% said they’ll stay at home because they don’t want to spend too much. CGA’s trading data also shows match days at the last World Cup triggered big uplifts in trading, with lager and beer sales 14% higher on 2022 World Cup match days than on the equivalent days in 2021. Violetta Njunina, client director at CGA, said: “Euro 2024 brings some great opportunities for pubs, bars and drinks suppliers. But it’s important to remember that while many consumers are eager to watch the Euros, many are still affected by the cost-of-living crisis, while others aren’t interested.”

 

Job of the day: COREcruitment is working with a business that is seeking an experienced general manager for one of its venues, in Central London. A COREcruitment spokesperson said: “You will come in and build this operation up, working with seasonal food and great cocktails and wine lists. This group has a collection of key sites in London, Manchester and south west England. It has growth plans and is keen to meet people who want to grow with the business.” The salary is up to £62,000. For more information, email stuart@corecruitment.com. 

 

Kaleido Rolls set for international relaunch: Healthy food concept Kaleido, which specialises in salad rolls, is set for a relaunch internationally, with new openings in Holland and the US. The business, which was founded in 2017 by Denis Dahan and Laura Mimoun, closed its UK operation at the end of last year to focus on opportunities in EU supermarkets and a launch in the US. It ran a total of eight UK locations and had its best ever quarter in the third quarter of 2023 sales wise. Propel understands that site metrics remained good in most of the locations, especially in the West End, despite using only premium ingredients. However, the business found headwinds in the decline in healthy habits and inflationary pressures through the increased cost of business. Propel understands it is now set to relaunch its partnership with Dutch retailer Albert Heijn, which first began last year, with the introduction of its offer across 30 supermarkets in Holland. This longer shelf-life salad roll is planned to be subsequently launched in several supermarkets across Europe, including the UK. It has also partnered with hospitality veterans in the US to launch in four locations in Chicago this summer, with further plans to roll out in other American cities.

Snowfox Group owner launches UK debut site for ramen concept: Zensho Holdings, which acquired Snowfox Group, owner of the YO!, Panku, Bento and Taiko brands, last year, has opened the UK debut site for its Ichikokudo Hokkaido Ramen concept in London’s Soho. The concept has opened in Wardour Street. Ichikokudo is dedicated to serving “authentic Japanese ramen using only the most authentic ingredients” including select chicken, fresh vegetables, premium Hokkaido kelp and a fusion of mackerel and bonito. Zensho said that Ichikokudo is the first authentic ramen restaurant of its kind in London. It operates 59 affiliated locations across Japan and eight in Singapore under the concept. Zensho Holdings completed its acquisition of the Snowfox Group in a deal valued at $621m (£494.5m) last September. The deal made the business the single largest food service company in the world, with more than 10,000 outlets globally, trading from circa 130 companies. Emma Wright and Morris Greenberg at CDG Leisure acted on behalf of Ichikokudo on the Wardour Street deal.

Sky News – Cineworld plots sale of British cinema operations: One of Britain’s biggest cinema chains is in secret talks about a sale as part of a strategic review that could lead to a wholesale restructuring of its business. Sky News reports that Cineworld, whose parent company went through a series of insolvency processes last year, is working with advisers on a potential disposal of its UK operations. Cineworld, which trades from more than 100 sites in Britain and employs thousands of people, has begun contacting prospective bidders in recent days. AlixPartners, the restructuring adviser which handled the administration of Cineworld’s London-listed holding company last year, has been drafted in to work on the process. City sources said the sale process was expected to run for several weeks. They added, however, that the cinema giant was also expected to explore the option of a company voluntary arrangement (CVA) – a further restructuring process which could put an unspecified number of its UK cinemas at risk of closure. A spokesman for Cineworld refused to provide information about many sites the company operated in the UK or how big its workforce was. In a statement issued to Sky News, he added: “Like many businesses, we are continually reviewing our UK operations.” The sale process only relates to its UK business, according to insiders. It was unclear whether Picturehouse, which Cineworld also owns, is also part of the auction. Several financial investors are expected to examine offers for Cineworld’s UK business, while rival Vue is also likely to assess whether a bid would be viable. Last year, Sky News revealed that Vue had assembled backing for a takeover of Cineworld but was frozen out of a process that was eventually abandoned. One property industry source said that any attempt by Cineworld to pursue a CVA or other restructuring which compromised landlords was likely to be met with fierce resistance.

Slim Chickens launch in Germany to ‘accelerate expansion to other European countries’: The launch of Slim Chickens in Germany will accelerate its expansion to other European countries, a franchise consultant working in Germany with the brand has said. Propel revealed in April that Boparan Restaurant Group (BRG), the owner of the Gourmet Burger Kitchen, Carluccio’s and Giraffe brands, had signed a deal to launch the Slim Chickens brand in the country. The company signed a 20-site development plan for the country with The Foodelity Group, with the two businesses set to open the first location under the new partnership in Berlin. “We are very pleased that we are able to successfully support the large German expansion of Slim Chickens,” said Raimond Roßleben, franchise development manager for Franchise Focus. “With Max Beutler and the Foodelity Group, for the greater Berlin area, we have found the ideal area developer. The 20 Slim Chickens locations will of course be very helpful to accelerate franchise expansion in the outer areas as well as in Austria and Switzerland. Separately from this, other area developers are in the application process throughout Germany, each of whom will start at least five Slim Chickens in the next five years.” BRG currently operates 51 Slim Chickens sites across the UK, and last week, Propel reported that a Slim Chickens will be included in the newly redeveloped food court at the McArthurGlen Designer Outlet East Midlands.

 

Exclusive – Mindful Chef launches in Northern Ireland following 14% lfl UK sales growth: Healthy recipe box service Mindful Chef has launched in Northern Ireland after reporting 14% like-for-like sales growth in the UK this year, Propel has learned. Mindful Chef’s first geographical expansion since its inception in 2015 follows a £2.8m-plus increase in year-on-year sales on the mainland in the first four months of 2024. Mindful Chef will now deliver to customers in Northern Ireland every Wednesday. Founded by Devon school friends Giles Humphries, Myles Hopper and Rob Grieg-Gran, the brand’s mission is to make healthy eating easy, accessible and sustainable. It offers customers 40 fresh and healthy recipes a week to choose from, designed by an in-house team of chefs, and to date, has delivered more than 30 million meals to in excess of 400,000 UK customers. “We’re thrilled to be launching in Northern Ireland, which marks our next exciting chapter,” Humphries said. “Our mission of ‘making healthy eating easy’ hasn’t swayed since day one. Since then, we’ve seen consumers' motivations around health have gotten even stronger, with it now being the number one reason people sign-up to Mindful Chef, increasing by 55% year-on-year. That, combined with strong sales growth this year, makes it the perfect time to bring our unique proposition to the Irish market.”

 

Sourdough South closes Lincoln Three Joes site, fourth to shut in past few months: Sourdough South, operator of the Three Joes and The Stable pizza brands, has closed its Three Joes restaurant in Lincoln’s Cornhill Quarter – the brand’s fourth to shut in the past few months. In April, the company confirmed the closure of half of its then six-strong Three Joes estate – shutting its sites in Fareham, Chichester and Cambridge. With the Lincoln site now following suit, the only remaining Three Joes are in Winchester and Sheffield’s Meadowhall. A spokesperson for Three Joes told My Local Lincolnshire: “We have made the difficult decision to close our Three Joes restaurant in Lincoln. Unfortunately, like many other restaurants in the current cost-of-living crisis, we have struggled to make this venue viable. We are hugely grateful to our team who have worked so hard since we opened. We would like to take this opportunity to thank all our lovely customers of Lincoln for their support and kindness. The nearest Three Joes to Lincoln is in Meadowhall, Sheffield, and is ready to welcome our guests any time they need a delicious sourdough pizza.” Three Joes, which was formed in 2017 by Tim Hall, Emma Blackmore and Peter Bruton, opened in Lincoln in October 2022. Last week, Propel revealed that Hall is to step down as the company’s group chief executive.

 

Italian coffee house brand opens second UK site for London debut, third to follow in Bicester: Italian coffee house brand Cafè Barbera has opened its second UK site for its London debut, with a third set to follow. The company, which operates circa 40 sites across the globe – predominantly in Africa and the Middle East – was brought to the UK in July 2022 when its debut site opened in Station Road in Cobham, Surrey. Cafè Barbera has now opened at 36a The Terrace in Barnes, south west London, with a third site to follow soon in Bicester, Oxfordshire. Last summer, owner Elio Barbera told Propel he was aiming for 30 UK outlets over the next decade and was seeking area developers to build the brand through franchising. He also said a new franchisee, who is also behind the Barnes site, had taken on the Cobham location as its original owner Sania Group – which also operated 15 Pizza Hut, You Me Sushi and German Doner Kebab sites across England and Wales – had gone into administration. Cafè Barbera exhibited at the recent International Franchise Show at ExCel London and said its offers “a strong brand” and “strong operational system” as well as a menu offering “consistent and authentic products”.

 

Jason Atherton plans new bistro in London's Chelsea: Chef Jason Atherton and his wife Irha are planning a new restaurant in London’s Chelsea. In an Instagram post, the Athertons said they are set to open Three Darlings in Pavilion Road. The new venue will be a neighbourhood bistro, with Atherton describing the new concept as “seasonal, stylish, yet joyously casual dining”. Last month, Atherton announced he was to open a new brasserie restaurant in the former Aquavit site in London’s St James’ Market this summer. He said Sael would serve “affordable, no-holds-barred cooking” that celebrated all things British without “the shackles of traditional fine dining”. The new restaurant’s kitchen will be led by Dale Bainbridge, who has worked with the Athertons’ Social Company group for a decade and is currently executive chef at their Michelin-starred Pollen Street Social restaurant in Mayfair. Atherton currently operates 16 restaurants globally, including the Michelin-starred City Social and Pollen Street Social in London. 

 

Greene King opens fourth Nest Pub: Brewer and retailer Greene King has opened its fourth Nest Pub. The Friar in St Christopher Road in Colchester, Essex, was previously a Greene King Pub Partners tenanted site and has had a £265,000 investment. The Friar is being operated by Deborah Macklin, who worked at the pub under the previous operator, when it was a tenanted site. As a local herself with strong connections to the community, Macklin will run The Friar as a franchisee with the backing and support of Greene King. Nest Pubs is the second franchise format from Greene King following Hive Pubs, which Greene King launched in 2021 and now operates in more than 50 sites. Nest Pubs are wet-led pubs predominantly located in busy high streets and in communities, with franchisees earning through a percentage of the net weekly turnover of their pub, alongside a quarterly percentage of business profits and annual bonuses. Dan Robinson, managing director of Greene King Pub Partners, said: “The Friar is Nest Pub number four and we’re really pleased to be opening yet another Nest Pub in very quick succession from our previous openings. The whole team in Pub Partners have done a great job keeping up the pace as we continue to open more Nest Pubs.”

 

Stonegate adds in-app sport capabilities to MiXR network: Stonegate Group, the UK’s largest pub operator, has launched in-app sport capabilities through its MiXR network ahead of the European Football Championships (Euros), which kick off later this month. Launched through the company’s circa 450 sports pub venues, the new ‘Whatever You’re For’ campaign, developed by Pitch Marketing Group, will develop throughout the tournament, incorporating authentic fan stories through ‘pub generated content’. The creation of Together FC, a group of content creators that embody the diversity of football fan culture; and a partnership with the fan community, Goal Click; will produce organic content for MiXR channels that showcases real pub experiences and celebrates fans across the nation. David McDowall, chief executive of Stonegate, said: “With the Euros taking centre stage this summer, we’re committed to giving fans the best experience both in and out of the pub. As well as having 450 sport venues nationwide, offering fans an industry-leading viewing experience, we’ve also introduced sport to our MiXR media platform, giving our guests the ability to explore and book venues, earn loyalty points and have added value experiences through MiXR Missions during the Euros and beyond.”

 

Shake Shack to make UK train station debut today: US better burger brand Shake Shack will make its UK train station debut today (Tuesday, 11 June). Shake Shack will open the site at Unit 17 The Circle at St Pancras International, offering breakfast burgers, the signature ShackBurger, crinkle-cut fries, flat-top dogs, ShackMeister Ale and hand-spun shakes in addition to special menu items unique to Shake Shack St Pancras. Since the original Shack opened in 2004 in New York’s Madison Square Park, the company has expanded to more than 430 locations including 140 international outposts. There are 14 other Shake Shacks in London and one each in Cardiff and Oxford, as well as restaurants at Gatwick airport and Lakeside in Essex. Shake Shack is also set to further strengthen its footprint in London with an opening in Notting Hill Gate. The company is opening the venue in the former Royal Bank of Scotland premises at 78 Notting Hill Gate.

 

Bread Ahead founder – when we launch a new product on Instagram we have 200 people queueing up the same day: Matthew Jones, founder of independent bakery and baking school Bread Ahead, has said that when the brand launches a new product on Instagram, it has 200 people queueing up the same day outside its flagship south London home. Jones founded Bread Ahead in Borough Market in 2013 and has since grown it to eight locations across London and three in the Middle East, as well as operating online and in-person cooking and baking workshops. The business also last month launched the Bread Ahead Academy, a six-month apprenticeship-style baking course designed to create the “next generation of professional bakers”. Speaking to Forbes about the brand’s social media reach, which includes 359,000 Instagram followers, Jones said: “It took me a while to get it, I used to laugh at social media. My wife often reminds me how I used to say that Instagram was a waste of time when we had 10,000 followers, but it really changed during the pandemic. Suddenly, we were getting thousands of followers every day. Now, if we launch a new product on Instagram, there will be 200 people queuing up at Borough later that day. It is absolutely phenomenal.” Last year, as Bread Ahead was gearing up to make its overseas debut, Jones told Propel he was planning significant international expansion, with 40 sites set to open in the next three years. “I want a full global roll-out,” he added. “To become a global brand – all corners of the world.” The secret to the brand’s success, Jones believes, is simply giving people what they want. “From my early days in Borough, customers were always very inquisitive and had so many questions about gluten, spelt, rye and how things were made, so I wanted to create an environment where I could show people properly,” he said. “That’s how it was born. I have always enjoyed talking to people and creating that vibe and buzz around what we do.”

 

Belfast Vietnamese noodle operator set to open fifth site: Belfast Vietnamese noodle operator Madame Pho is set to open its fifth site. Madame Pho was founded by William Chan in 2020 following five years travelling in Asia, opening his first restaurant that same year in the former Eddie Rockets site in Botanic Avenue. Further Madame Pho restaurants have since opened in Longstone Street, Lisburn Road and Antrim Road, and a fifth is set to in the former Greens Pizza restaurant in Ormeau Road, reports the Belfast Telegraph. It comes two months after the Belfast Telegraph reported that Chan had sold the business to focus on his new venture, Vietnamese coffee concept Phin, named after a tool used for brewing coffee in Vietnam. The first branch of Phin opened in April in the former District coffee shop, also in Ormeau Road. Chan said at the time that he had a “passion” for hospitality after growing up in the trade, with his family owning Furama, a Chinese restaurant in Antrim, for more than 30 years. He added: “I previously had a Vietnamese restaurant in Belfast, Madame Pho, as well, and it was always our plan to open a stand-alone coffee business. Coffee culture is actually really big in Vietnam, so we wanted to bring quite an authentic experience to Belfast and really just educate people on Vietnamese coffee. We’re just trying to get this set up first, but we do have plans to open a few more. We would love to be able to bring this to different areas of Belfast.”

 

Suffolk hotel group makes £2.3m distribution in specie following group restructure, sells Southwold Pier: Suffolk hotel group Gough Hotels has made a £2.3m distribution in specie following a group restructure that led to the sale of Southwold Pier. The group sold the 124-year-old pier in March 2024 to husband-and-wife team Amy and Charles Barwick, of Surrey-based Pineapple Events Solutions, which manages attractions including Christmas markets, theme parks, music festivals and sporting events across the UK. The distribution was made in addition to a dividend of £332,053 (2022: £594,789) in the year to 31 October 2023. “Following a strategic review, it was concluded that the companies within the group would benefit from a more formally segregated structure,” the company said. “On 9 September 2023, Curious Pier exited the group following a group restructure. During the year, Curious Pier contributed a post-tax loss of £274,741 (2022: loss of £2.167,278). The net assets of Curious Pier at the time of the disposal being £2,280,027.” The company’s turnover for the period was £11,314,144 (including £2,052,659 from discontinued operations), up from a restated £10,659,891 in 2022 (including £2,126,939 from discontinued operations). Pre-tax profit was £625,314 (including £262,614 from discontinued operations), down from a restated £975,901 in 2022 (including £2,161,112 from discontinued operations). “The directors are encouraged by the ongoing level of business in the first full year of trading post covid,” said director Robert Gough. “Trading was strong following the pent-up covid demand last year. The hospitality sector remains a tough place to trade, with margins under pressure. The directors consider that in the forthcoming year, turnover levels will increase as customers look towards shorter, quality UK breaks. Repeat business is improving and the spend at the hotels for food and drink is higher. The group will continue to invest in refurbishing the hotels as part of their ongoing commitment to growing profitability and maintaining the premium level of service.”

Cornwall bakery-bar concept ‘winding down the business’ as it closes two out of three sites: Cornwall bakery-bar concept, Lawrance’s, has said it is “winding down the business” after closing two out of three of its sites. The business was founded in 2019 by Phil Lawrance and Lucy Curnow, who grew it to two sites in Truro and one in Falmouth. The Falmouth site, at Maritime House in Discovery Quay, and one of the Truro sites, at 19 New Bridge Street, have now shut, leaving just its Little Castle Street location in Truro. “You might have noticed we’ve been very quiet on here,” the couple posted on social media. “We have made some really hard decisions to start winding down Lawrance’s. With the leases of both Truro shops coming to an end, we felt naturally this would be the right time for us to start closing the doors and opening a new chapter for us both. We want to say a massive thank you to everyone who has supported us over the last five years and to all of our incredible staff who have been on this journey. It has been an amazing ride, and we are proud of what we have managed to achieve with Lawrance’s.” They added that the remaining site will also be winding down but a date for its closure has yet to be set, and that the company’s baked goods can still be bought online for delivery anywhere in the UK.

West Yorkshire bar and restaurant concept to open second site: West Yorkshire bar and restaurant concept, Treehouse Bar and Kitchen, is set to open its second site, in Otley. The concept, which is the brainchild of Frank and Rob Stott, was launched in the village of Haworth in 2021. Now the brothers have been granted a premises licence by Leeds City Council for the former Korks Wine Bar premises in Otley. The grade II-listed building in Broadgate will now be revamped and feature a new two-storey extension, along with a garden area and pizza oven.