Maguro Group set to expand regional footprint as part at least three new Bunsik openings this year after launching franchise programme: Maguro Group has told Propel it is set to expand its regional footprint as part at least three new Bunsik openings this year after launching a franchise programme for the Korean street food concept. Propel revealed last September that the group had lined up its then four-strong Bunsik business for its first foray into franchising and had plans to grow it to 20 sites by the end of 2025. It has since opened further locations in Westfield Stratford – in the fast-food court on the lower ground floor – and at 198-200 Earl’s Court Road, with a seventh location, in London’s Chinatown, to follow in September. Director Jae Cho expects there to be at least nine Bunsiks, and possibly more, by the end of 2024, including adding further regional locations to its sole out-of-London outpost, in Manchester’s Piccadilly Gardens. “Two more stores, which are already confirmed, will be up and running by the end of 2024,” he told Propel. “We are in advanced discussions on more sites that we hope will be trading by the end of 2024, and we are always actively looking for more sites across London. We are also looking to expand to Oxford. We are in advanced discussions on a site outside of London that we hope will be open and trading by the fourth quarter of 2024. While we can’t reveal the location just yet, it will be the largest Bunsik site to date! The Westfield operation has also given us the confidence that Bunsik works perfectly as a food court model. We are currently exploring various Bunsik formats that could be used for potential operations in train stations and airports.” Propel understands a Birmingham site is also being explored. Maguro Group is also behind concepts such as Maguro Sushi, Gogi, Bullgogi, Itaewon Burger & Chicken and Pochawa Grill, and Cho said his Korean barbecue concept, Bullgogi, could be the next to be franchised. He added: “We are opening the biggest Korean barbecue restaurant in the UK by the end of the year, in Manchester, which will have a simple and scalable concept.”

Panel looking at how to develop and improve culture to be held at Propel’s Talent & Training Conference, open for bookings with 20% discount on tickets for Premium Club members: A panel looking at how to develop and improve culture will be held at Propel’s Talent & Training Conference. The all-day conference takes place on Tuesday, 1 October at One Moorgate Place in London and is open for bookings. The conference will showcase examples of outstanding people culture among companies within the sector and how the industry is attracting talent. Hosted by Abi Dunn, founder of Sixty Eight People, the panel will feature Trudi Parr, of Mollies; Jo Harley, of Korero; Craig Bunting, of Bear Coffee; and Josh Light, of The Sababah Group, who will share their thoughts on all things culture and why it supersedes everything. For the full speaker schedule, click here. Tickets are £345 plus VAT for operators and £395 plus VAT for suppliers. Premium Club members get a 20% discount. Email: kai.kirkman@propelinfo.com to book places.

 

Next Who’s Who of UK Hospitality to be released today featuring 880 companies: The next Who’s Who of UK Hospitality will be released to Premium Club members today (Friday, 19 July) at midday. The database now features 880 companies and more than 236,000 words of content. The database will feature 60 updated entries and 14 new companies. 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 Club members also receive access to five other databases: the Multi-Site Database, produced in association with Virgate; the New Openings Database; the Turnover & Profits Blue Book; the UK Food and Beverage Franchisor Database and the UK Food and Beverage Franchisee Database. All Premium Clubs members will be offered a 20% discount on tickets to Propel paid-for events including the Talent and Training Conference (1 October), Restaurant Marketer and Innovator (two days in January 2025) and Excellence in Pub Retail (May 2025). Operators that are Premium Club members are also 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 supplier. Email kai.kirkman@propelinfo.com today to sign up.

 

Darden Restaurants to acquire Chuy’s chain in $605m deal: US group Darden Restaurants, the owner of the Olive Garden chain, has agreed to buy full-service restaurant operator Chuy’s Holdings in an all-cash deal, which has an enterprise value of $605m (£466m). Established in 1982 in Austin, Texas, Chuy’s runs full-service restaurants offering made-from-scratch Tex-Mex-inspired dishes. It operates 101 locations across 15 states in the US. Darden currently operates brands including LongHorn Steakhouse, Yard House, Ruth’s Chris Steak House and Cheddar’s Scratch Kitchen. Darden president and chief executive Rick Cardenas said: “Chuy’s is a differentiated brand within the full-service dining industry with strong performance and growth potential. Based on our criteria for adding a brand to the Darden portfolio, we believe Chuy’s is an excellent fit.”

 

Sacha Lord steps down from music festival and nightclub event commitments to focus on sector advisory roles: Sacha Lord, the night-time economy advisor for Greater Manchester, has stepped down from his music festival and nightclub event commitments to focus on his sector advisory roles. He has left his roles with Parklife, Europe’s largest metropolitan festival, and The Warehouse Project, which runs seasonal events at the 10,000-capacity Depot Mayfield. He has held the night-time economy adviser position since 2018 and is also chair of the Night Time Industries Association – and will now give his full commitment to those roles. “The decision to step down was not an easy one for me to make,” he told the Manchester Evening News. “But there could not have been a more perfect moment for me to step away than now – exactly 30 years since my first event at The Hacienda – and I’m so excited for what’s to come. This decision will free up my time to focus on my roles in the night-time economy and hospitality sectors, and most importantly, the birth of my first child later this year. I am very excited to watch from afar, and I’d like to wish the team the very best going forward.”

 

Job of the day: COREcruitment is working with an award-winning, multi-AA Rosette gastropub that is looking for an experienced head chef. A COREcruitment spokesperson said: “You will have complete autonomy over a fresh, seasonal menu that celebrates local produce. You will train the team to deliver exceptional, authentic, multi-rosette gastropub cuisine.” The salary is up to £55,000 and the position is based in Hertfordshire. For more information, email yasmin@corecruitment.com.

 

Promoted content – meet Samarkand Palav, the Uzbekistan street food concept freshening up London: Akbar and Sanobar, the husband-and-wife duo, recently opened their street food business Samarkand Palav with the help of McCain’s Streets Ahead Programme, celebrating the unique cuisine of Uzbekistan. If their unique story and passion doesn’t grab your attention, their food certainly will. To find out more, click here.

 

Puttshack promotes Logan Powell to CEO: Indoor mini golf experience Puttshack has promoted Logan Powell from global president and chief financial officer to chief executive, effective immediately. Powell, who has served as the brand’s global president and chief financial officer since 2019, succeeds Joe Vrankin, who oversaw the company’s growth in the UK as chief executive and subsequently brought the concept to the US in 2021. Powell and Vrankin have collaborated on this transition as Vrankin will be moving on from the company. Powell said: “I deeply believe in the Puttshack brand and am honoured to have the opportunity to grow our business and further establish Puttshack as a true leader and innovator. As competitive socialising continues to appeal to multiple generations, I look forward to working with our leadership team to further our focus on driving innovation, operational excellence, best-in-class hospitality, and sustainable growth across the US.” The company said it is “embarking on an exciting new chapter for our business, as we look to bring our innovative, tech-driven experience to Puttshack guests across the country”. Since opening its first location in 2018, Puttshack now has four UK sites and 14 sites in the US including venues in Atlanta, Boston, Chicago and Miami. A new report produced by Propel on the fast-growing experiential leisure sector will be available to purchase on Thursday, 1 August. The report profiles the current shape of the experiential leisure market – including brands, estate size, trading type and geographical location and future trends. It provides a detailed list of UK experiential leisure companies including key staff and Companies House information. The report includes more than 190 companies, 3,500 sites and a 35,000-word report. Existing Premium Club members can receive the report on Thursday, 1 August for £395 plus VAT. The report will be made available for free to existing Premium members on Tuesday, 10 September at 9am. Email kai.kirkman@propelinfo.com today to order a copy.

Arc Inspirations lfls up 79% across England games: Arc Inspirations, the premium bar operator, has reported a 79% increase in like-for-like sales across its estate on the seven days that England played during the recent Euro 2024 championships. The company said on those days, its five Box-branded venues – in Headingley, Leeds city centre, Manchester, Birmingham, and Nottingham – saw sales jump more than 300%. Total company sales – including Banyan and Manahatta – doubled, with group like-for-like sales growth of 79%. For the tournament as a whole – the five-week period to Sunday, 14 July – Box saw sales jump more than 76%, with like-for-like sales ahead 41.4%, while on the day of the final, like-for-like sales at Box were up tenfold (1,006%). Arc Inspirations chief executive Martin Wolstencroft said: “These numbers graphically illustrate the power of world-class sport when combined with world-class premium hospitality. Our Box bars have been specifically designed to host the very best matchday experiences – possibly only bettered by being in the stadium itself – and as a result, people flocked to our venues in record numbers to enjoy the Euros, and England’s run to the final, in the perfect setting. The tournament delivered the boost that we’d all been hoping for in the hospitality sector. It’s one thing getting people through the door, it’s another to make sure they have a great time, and our teams were outstanding.” Earlier this year, Arc secured £7m in extra funding to accelerate its expansion across the UK, with a £4m loan from its banking partner, HSBC UK, alongside a £3m equity injection from its shareholders, including BGF, which has backed the business since 2022. The business has ambitions to deliver at least four new openings per year over the next five years, and to eventually operate 50 bars by 2030.

 

NWTC hires Antony Doyle as regional ops director: Graphite Capital-backed pub restaurant group The New World Trading Company (NWTC) has hired Antony Doyle, formerly of Loungers and the Jamie Oliver Restaurant Group, as its new regional operations director for the south. Doyle spent almost 11 years at Loungers, including seven years as operations director of its Lounge brand. He spent his last 14 months with Loungers, overseeing the roll-out of its new roadside concept Brightside, as its operations director before stepping down in February. Before joining Loungers, he spent two years as an operations manager at Jamie Oliver Restaurant Group. Doyle replaces Ed Williams, who recently stepped down from NWTC after joining the business last summer. Williams, who previously had stints at Las Iguanas, TGI Fridays and Cosy Club, joins Leane Patching at NWTC, who is the company’s regional operations director for the north. This spring, Propel reported that NWTC saw its financial year (FY23) end “ahead of expectations”, delivering sales of more than £73m.

 

Trading Post Coffee Roasters lines up Horsham opening: Sussex coffee house company, Trading Post Coffee Roasters, is set to further build its presence in the south east with an opening in Horsham. The business, which last month opened its ninth site in Worthing, has lined up an opening on the former Specsavers opticians building in Horsham’s West Street. The business, founded by Michael Deol in Brighton in 2017, opened its sixth Brighton location in February, in Western Road. The company also has stores in Lewes and Chichester and is set to open two further sites this year, including the one in Horsham.

 

Authentic Alehouses pub sold for £285,000, price drops on other two but trading well: Former Authentic Alehouses pub The Fountain Inn in Barnoldswick, Lancashire, sold for £285,000, Propel has learned. The once seven-strong brand, which was launched by Allan Harper in 2017, entered administration in March 2019. The last update emailed to investors by Crowdstacker, in May, revealed that The Fountain had been sold, leaving just The Albert in Hull and the Ponty Tavern in Pontefract in the portfolio. The latest emailed update, which has been seen by Propel, revealed the sale price as £285,000. It also said the asking prices of the two remaining pubs had dropped but that both are trading well. “There have been costs incurred related to administration, legal, sales costs, insurance, business rates and operating costs while in administration,” the update said. “These costs total £136,000, leaving a distribution back to lenders of £148,000, or approximately 2.52% of capital. This distribution has borne the brunt of the costs incurred across all three pubs since the last sale, however, that will leave smaller costs across the final two pubs once sold. The Albert is trading well in 2024 with average weekly sales for the year so far increasing by more than 38% on 2023 figures. Replacement of the management in the summer of 2023, a refreshed entertainment offering and some basic refurbishments have all contributed to the significant improvement in performance. This has started to attract attention from various national and local operators, and we expect to see some offers put forward in the coming months. The Albert is a large old building and there are some significant dilapidations that prospective buyers are factoring into their offers, such as replacing/repairing the main roof, which require surveys and therefore a delay in receiving initial offers. The price is below the original valuation of £325,000 to factor in circa £50,000 of dilapidations. The Ponty has been managed well for several years, and this is reflected in the current and historical sales figures with average weekly sales for 2024 continuing to be in line with what was a strong trading year in 2023. Because of the strong trading figures, there has been significant interest in the property over the years. The main challenge during the sales process is that the Ponty is a high performing outlier in the area, and often prospective buyers have opted to take on cheaper nearby sites. The price has been reduced to take this, and some dilapidations, into account. The price is still above the original valuation of £445,000.”

 

Mikos Gyros makes move into grocery market: Greek farm-to-table grill brand Mikos Gyros has made the move into the grocery market. Founded by Hugo Ushida in 2017, Mikos Gyros has since grown to nine sites – seven in London plus one each in Birmingham and Manchester. “We’ve officially entered the grocery market!” he said. “Initially, there will be a range of ten Greek/gyros products launching into your local farm shops and independent retailers this year. If you know a great retailer nearby, please let us so we can get them stocked with our range of gyros seasonings, signature sauces, wrap kits, Greek pitas and chilled gyros. There will be barbecue sampling sessions at all of our stockists, so you can try it out and see why they are already becoming their best-selling products.” Ushida told Propel last year that he is targeting 50 sites in the UK before exploring international opportunities.

Pig Hotels parent company sees fall in turnover and profit in first full year under new ownership, acquires new site: The parent company of Pig Hotels, the rural boutique hotels group led by Robin Hutson, saw a fall in turnover and profit in its first full under new ownership. Denver-based private equity firm KSL Capital Partners acquired a stake in parent company Home Grown Hotels in April 2022. In the year to 31 December 2023, the company’s turnover was down to £49,8509,136 from £51,441,388 in 2022. Of this, £23,247,683 came from hotels (2022: £24,468,820) and £26,602,453 from restaurants (2022: £26,972,568). Its pre-tax profit was down to £2,291,834 from £2,512,819 and its Ebitda was down to £4.7m from £5.2m. Average room occupancy was 82% (2022: 91%) and average daily restaurant covers 1,283 (2022: 1,683). “On a full year basis, group turnover was £1.5m below 2022, which was still benefiting from the pent-up demand for domestic travel post covid,” director Tom Ross said. “2023, however, saw increases in both average daily room rate and spend per cover, which offset the impact of lower occupancy in the hotels and lower average daily covers in the restaurants. The reduction in Ebitda was primarily a result of increased indirect costs. As well as inflationary pressures on cost, which the group did not fully pass onto guests, additional cost was incurred in head office post-acquisition to prepare for future growth.” The group acquired Groombridge Place in Tunbridge Wells during the year, and a post year-end, purchased Barnsley House in Cirencester in January 2024. No dividends were paid (2022: nil). 

 

Brew York chosen to operate new food hall and events venue in Goole: Yorkshire brewery Brew York has been chosen as the operator of a new food hall and events venue in Goole. Brew York – which operates taprooms and bars at venues in York, Leeds, Otley, Pocklington, Guiseley and Knaresborough – was successful in its bid to bring its combination of craft beer and street food to Market Hall. In addition to the food and drink offering from Brew York, the refurbished market hall will also offer flexible space for local creative and craft businesses and host events. Brew York managing director Wayne Smith said: “We have been working closely with the Goole Town Deal team since the back end of 2023 to ensure that we transform the Market Hall into a hub for the town to draw more people out and create a vibrant destination for everyone to enjoy. We can’t wait to bring our experience in events and entertaining to the town and bring along our friends to serve up some of the best brews and local street food in the country.” Planning permission for the refurbishment project was granted in May and work is due to start on site later this year in preparation for it reopening as a food hall and events venue in the spring of 2025.

 

KoKoDoo opens sixth site: KoKoDoo, the Korean fried chicken concept founded by Joseph and Mary Yoon in 2006, has opened its sixth site – at Unit 3 in Market Place, Harrow, north west London. It is a fourth London location for KoKoDoo alongside its restaurant in Shoreditch, takeaway in Camberwell and food truck in Citypoint/Chiswick Business Park. Outside of the capital, it has a restaurant in Swansea and a food truck in Bristol. “Last weekend, we successfully launched a new Kokodoo branch in collaboration with Market Place UK in Harrow,” Joseph Yoon said. “This partnership provides our franchises with an effective way to reduce the upfront investment required to open in a high-footfall location with an established customer base. With our diverse portfolio of restaurant takeaways, food trucks, stadium venue catering units and now food halls, we are able to provide our franchises with a highly flexible franchise model adaptable to any location.”

Northern Ireland hotel group acquires family-owned Coleraine hotel: Northern Ireland operator McKeever Hotel Group has acquired a family-owned hotel in Coleraine. The Lodge Hotel has been run by Ivor Boyd and Norma Wilkinson, who will now retire, for 30 years, along with their third partner, the late Brian Stockman, who joined the business in 2003. Eddie McKeever, managing director of the McKeever Hotel Group, said: “We’re so pleased to welcome The Lodge to the McKeever family. This move is totally aligned with our wider growth plans, which have been supported by our banking partners, Richard Lusty and Andrew Tew, of Ulster Bank. We look forward to extending the McKeever welcome to the local team and guests in the months ahead.” The group last November unveiled its three-year strategic plan, which aims to increase turnover to £60m, along with a new leadership structure. The business, which turned over £13,567,633 in the year ending 30 September 2022, now operates six hotels.

London comfort food business launches franchise programme: London comfort food business Smoke & Pepper has launched a franchise programme. Founded by Sara Ibrahim and Suhail Mala, the business opened its first site in 2022, in Leyton, followed by a second site earlier this year, in Bow. It has now partnered with franchise consultant Paul Davies, who has worked with the likes of KFC, Haagen Dasz and Ben & Jerry’s, as it looks to expand across the UK. “Smoke & Pepper has embarked into the world of franchising, offering its fantastically developed concept that you can become a part of,” a company spokesman said. “To entice you further…return on investment between 18-21 months, current sales circa £35,000 to £40,000 a week; modernistic décor; deliciously addictive food leaving customers craving for more; capex cost from £166,000 all in.” Smoke & Pepper offers burgers, wings, wraps, grilled chicken, “loaded” boxes, sides, desserts, shakes and mojitos.

Rosslyn Coffee launches fourth site in the City: Award-winning coffee business Rosslyn Coffee has opened its fourth site in the City of London, with further openings in the pipeline. The concept, which was founded by former Caravan head of wholesale James Hennebry and Mat Russell, has opened a site at the Royal Exchange. It is thought that the company plans to open a further two sites in Central London before the end of the year. The business, which launched at the start of 2018, also operates at the Tower42 Estate, Queen Victoria Street and London Wall. 

Scottish restaurant group owned by award-winning butcher opens third site: A Scottish restaurant group owned by an award-winning butcher has opened its third site. David Stein is the third generation of a family butchers’ business with sites in Bathgate and Blackburn, which expanded into hospitality in 2013 with the opening of Cafebar 1912 in Bathgate. This was followed by Cafebar 1807 in Linlithgow in 2017, and the group has now opened Cafebar 1962 in Livingston Designer Outlet. It is a first shopping centre location for the venue-meets-cafe-bar concept that offers free live music alongside a variety of food and drink options. Spanning 3,789 square feet, it has 200 seats, private pods and fire pits. Stein said: “Opening Cafebar 1962 is an exciting new milestone for us. This prime location not only allows us to connect with a great community, but also provides a unique opportunity to showcase our passion for exceptional food within a great setting and ambiance. We’re incredibly excited to share our vision and create memorable experiences for our guests in such a unique setting.”

 

Bella Italia launches new brand campaign as ‘antidote to the stresses of life’: Bella Italia, the Big Table Group-owned brand, has launched a new national brand campaign aimed at giving it a more relevant role in culture. Called “Feel Bella”, the new brand platform will run nationally across advertising channels and social media. Bella Italia said at a time when many Brits are more stressed than ever, the campaign positions the brand as a “soothing and delicious antidote to all their woes”. The campaign features real people being soothed by giant-sized menu items from Bella Italia, such as creamy gelato and sourdough pizza. Bella Italia marketing director, Megan Trimble, said: “Over the last few years, we have been on an incredible journey at Bella Italia. We have revamped our menu offering to be better than ever before. Yet, despite all this change, one thing has always remained true at Bella. We have always been masters at creating great quality, comforting food that helps anyone feel a little better when they dine with us. Our new campaign brings this truth to life like never before.”

 

North east coffee and artisan doughnut cafe concept to open third site: North east coffee and artisan doughnut cafe concept Deep North is set to open its third site. The company, which has outlets in Tynemouth and Newcastle, is taking space at the new Sheepfolds Stables development in Sunderland. Deep North will launch its Wearside venue in one of two new-build kiosks at the grade II-listed stables. Owner Phil King, who launched Deep North with business partner Tom Clark in 2022, said: “We can’t wait to bring Deep North to Sunderland. Having seen the growth and development of the city over recent years, we have been looking for the right opportunity for us and Sheepfolds Stables fits perfectly for us. We have popped up at markets and events in Sunderland over the last 12 months and we’ve loved how well we have been received.” In February, the business received investment from the North East Small Loan Fund as it looks to find further locations across the region. The investment also enabled Deep North to expand its kitchen equipment, meaning it can grow in capacity.

 

Grind partners with British Airways: Grind has partnered with British Airways (BA) to offer its coffee on short-haul flights from London Heathrow and London Gatwick airports, offering speciality, café-quality coffee to millions of customers on board. Grind has created three coffee blends exclusively for BA, including a flat white coffee, long black coffee and decaf black coffee, as well as its ready-to-drink iced caramel latte, which will all be available to purchase on board. Grind founder and chief executive David Abrahamovitch said: “Taking Grind into the sky with BA is an incredible opportunity for us to showcase our coffee internationally. As a company born in London, to partner with such an iconic British brand is an amazing step in our journey, and we can’t wait to see it on board.” Earlier this year, the business partnered with supermarket Tesco to offer its products in stores across the UK. Grind, which operates 14 sites in the UK and last month attained B Corp status, also has retail partnerships with companies including Waitrose, Co-op, Ocado and Selfridges.

Caledonian Leisure acquires fourth hotel: Travel and events company Caledonian Leisure has acquired its fourth hotel, in Scarborough, North Yorkshire. The company has bought the New Southlands Hotel. The 55-bedroom hotel, soon to be renamed The Caledonian New Southlands Hotel, becomes the fourth hotel to join The Caledonian Hotel Collection, joining the Caledonian Claymore Hotel in Arrochar, the Caledonian Tower in Blackpool and the Caledonian Torbay in Torquay. Graham Rogers, managing director at Caledonian Leisure, which operates under the Caledonian Travel and UKBreakaways brands, said: “The Caledonian New Southlands Hotel in Scarborough is the perfect addition to The Caledonian Hotel Collection as we continue to expand our portfolio of hotels in key UK destinations. Scarborough remains one of the UK’s top holiday destinations and one of our best-selling resorts, with customer numbers increasing year-on-year across our brands.” Following the acquisition, the hotel's general manager Ruth Janicki and the entire team has joined Caledonian Leisure. The acquisition of the New Southlands Hotel comes on the back of Caledonian Leisure reporting turnover of more than £55m for 2023, a 40% increase on the previous year.

 

Barton Grange reports rise in revenue and profit, leisure facility providing ‘respectable’ return on investment: Barton Grange, which operates leisure and entertainment venue The Flower Bowl in Preston along with a garden centre and marina, reported a rise in revenue and profit in the year to 31 January 2024 and said its leisure facility is providing a “respectable” return on investment. This facility, the Flower Bowl, opened in 2018, offering a crazy golf course, curling rink, ten-pin bowling, cinema and five food and beverage units. “After the major disruptions caused by covid, this was the second year in which the centre was fully operational,” director Edward Topping said. “Turnover increased by 4.1% and is now approaching £6m. Careful control of costs allowed the trading profit to increase by 8% to £1.65m. and now provides a respectable return on the original investment.” Overall, the group reported turnover of £24,991,032, up from £23,628,000 in 2023. Its pre-tax profit was £1,901,310, up from a comparable £1,525,371 in 2022. Including its discontinued landscaping business, which was sold halfway through the previous year, the full 2023 figure was £4,316,339. During the year, the group repaid £473,000 of its secured loan to leave the balance due at £5.4765m, and while these are due to be repaid by 2025, it is confident of the facilities being extended without further fees or increases in the rate of interest charged. “But if not, and repayment is sought, we hold sufficient funds to be able to discharge the balance in full,” the company said. Post year-end, the group said first quarter results, which “are usually good”, show trading profit of £934,000 for the first three months of 2024, 10% greater than the previous year. Dividends of £1,662,041 were paid (2023: £5,361,760).

  

East Midlands pizza concept to open in Nottingham for third site: East Midlands pizza concept Peter Pizzeria is to open its third site. The company is opening the restaurant in Nottingham’s Low Pavement next month, reports Nottinghamshire Live. The pizza bases are made from sourdough that has been fermented for 20 hours and then the pizza is cooked in an Italian wood oven for 90 seconds to make the “perfect” Neapolitan pizza, according to the Peter Pizzeria team. Peter Pizzeria also has sites in Loughborough and Leicester.

 

Gourmet deli and cafe operator Uncommon opens second site in London: Gourmet deli and cafe operator Uncommon has opened its second site in London. Propel revealed in January that Uncommon, which was founded in 2018 by Mina and Neb Dorontic and Djordje Djerkovic, had secured space at the Triptych mixed-use development in Bankside. The site has now opened offering coffee and pastries, deli style sandwiches, salads as well as its range of fresh pasta, sauces, jam, crackers and other pantry items. There is also a variety of wine. The first Uncommon site opened in Northcote Road, Battersea. Savills acted on the Bankside deal on behalf of JTRE London.