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Fri 2nd Aug 2024 - Propel Friday News Briefing |
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Story of the Day:Big Table Group CEO – I would rather buy a fast-casual business than open something new in that space: Alan Morgan, chief executive of The Big Table Group – the operator of Las Iguanas, Banana Tree, Frankie & Benny’s and Bella Italia – has told Propel that after trialling fast-casual versions of some of its brands, he would “rather buy a fast casual business than open something new in that space”. He also reaffirmed the company was “absolutely still there to do other deals”. Earlier this year, Big Table ran a short-term pop-up in London’s Victoria, trialling fast-casual versions of some of its brands, and further development into that space is on pause. Morgan said: “We took a lot of great learnings, both for our core estate and for what we would do with fast casual. I made a decision post the trial that I’d rather buy a fast casual business than open something new in that space. So, I’ve continued to run the rule over lots of businesses in that category. Fast casual, of course, popped quite quickly, and lots of people are asking for silly multiples. I am in no hurry to pay a silly multiple for a business that hasn’t proven longevity. I am now just watching carefully. I could be tempted to go and buy a chicken business right now, because fast-casual chicken is on fire, so to speak, but equally, there are so many of them popping up so quickly that by the time you buy one and open up to 20 sites, you might find yourself in a very saturated market. I have looked at, and I'm still talking to, a number of American brands as well, that are not necessarily just chicken.” Morgan added: “I’ve had a number of companies contact me to say ‘we're just testing the water with you before going to market soon’, which means they're on the market and they're just seeing if we can do an off-market deal. There are two reasons why we would buy something – if it’s a deal like a Banana Tree, which is to buy something reasonably small that has got an exciting future that I can scale up, or it's something other people can't make money out of and I can because it fits into our great back-of-house synergies. I’ve been tempted recently to look at some of the potentially next big trends to see if you can get ahead of the curve, although I’m resisting that right now because I think that’s the area that can be far riskier, and not even the most experienced minds know what the next six to 12 months will bring. We are still very fortunate in having a very strong balance sheet and we generate a significant amount of cash. We could make an acquisition with or without (backer) Epiris’ help (depending on size) but I’m not sure now is the time to be writing big cheques on big multiples. The full interview with Morgan – which includes his thoughts on the wider sector, the future of Chiquito and Café Rouge, looking at pub opportunities and Bella Italia returning to the expansion trail – will be in today’s (Friday, 2 August) Premium Club Opinion, which will be sent to members at 5pm. 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.
Industry News:Hawksmoor people and performance director Ceri Gott to speak at Propel’s Talent & Training Conference, open for bookings with 20% discount on tickets for Premium Club members: Ceri Gott, people and performance director at Hawksmoor, will be among the speakers 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. Gott will discuss how the award-winning business has dealt with talent shortages, how it keeps its teams energised, and how it finds the right people to help make match its ambition to open “world class restaurants in world class cities”. 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.
Premium Club members to receive new searchable and segmented New Openings Database next week: The next Propel New Openings Database will be sent to Premium Club members on Wednesday (7 August), at noon. The database will show the details of 268 site openings, including which company has opened a site or its plans to open one in the future. It will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published on a monthly basis and Premium Club members will also receive a 11,881-word report on the 268 new additions to the database. The database includes new openings in the quick service restaurant sector such as Korean concept CheeMC opening in London’s Elephant & Castle, Wingstop UK with its multiple openings and Burger Drop with an opening in Edinburgh. Premium Club members also receive access to five other databases: t he Multi-Site Database, in association with Virgate; the Turnover & Profits Blue Book; the UK Food and Beverage Franchisor Database; the UK Food and Beverage Franchisee Database and the Who’s Who of UK Hospitality. 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.
Propel’s exclusive report on the experiential leisure sector now available to purchase: A new report produced by Propel on the fast-growing experiential leisure sector is now available to purchase. 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 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.
UKHospitality – sector needs to see further fall in interest rates alongside business rates reform to receive ‘meaningful boost’: UKHospitality has said the sector needs to see a further fall in interest rates alongside business rates reform to receive a “meaningful boost”. It comes after the Bank of England reduced interest rates from a 16-year high of 5.25% to 5%. Allen Simpson, deputy chief executive of UKHospitality, said: “I hope this will provide some relief for businesses that are continuing to pay back covid loans, and encourage consumers to spend. Now is the time to press the accelerator on growth. We need to see interest rates continue to fall, and for the government to urgently implement its promised reforms to business rates. Combined, this will see a meaningful and much-needed boost for hospitality businesses.” Night Time Industries Association chief executive Michael Kill called the move a step forward but said further measures to support the sector are still needed. “High interest rates have placed a substantial burden on businesses within the night-time economy,” he added. “The reduction in interest rates is a positive signal that will help alleviate some of these financial strains. This move will also help to stimulate consumer spending, which is crucial for the survival and prosperity of nightlife venues, events and associated industries. While this decision is a step forward, we must remain vigilant and continue to advocate for further measures that support our sector.”
Job of the day: COREcruitment is working with a lifestyle hotel group that is looking for a general manager to join its team in Scotland. A COREcruitment spokesperson said: “You will oversee the operations of the property. The group is looking for a born leader who is ready to invest in the development of their staff to create the best experience for their guests. Along with this you will be a real networker, bringing in local business to help increase revenue.” The salary is negotiable for the right candidate. For more information, email ed@corecruitment.com.
Company News:Stonegate able to invest around £300m more after refinancing: TDR Capital, the backer of Stonegate Group, has said that following refinancing of the UK’s largest pub company and the resulting lower debt service burden, the David McDowall-led group will have close to £300m more to invest back into the business over the next three years. Earlier this week, Stonegate announced the agreement of its debt refinancing requirements. The refinancing package, which follows the announcement in December 2023 of the financing of a portfolio of 1,034 pubs, will see Stonegate’s balance sheet structure “significantly simplified and strengthened”. As part of the deal, funds managed by TDR will make a circa £250m shareholder contribution, demonstrating its “continued support and confidence in the future of the business and the Great British pub”. The refinancing comprises £2.1bn new senior secured notes and £0.2bn second lien facilities which, together with cash from balance sheet, will be used to redeem all of the £2.2bn outstanding senior secured notes, £0.4bn of second lien facilities and £0.1bn class A unique notes and pay certain costs, fees and expenses in connection with the transaction. The refinancing will extend the group’s maturities on the revolving credit facility and the senior secured notes to January 2029 and July 2029 respectively, and reduce leverage from 8.2 times to 6.5 time run rate Ebitda today. TDR said that following the refinancing and the resulting lower debt service burden, Stonegate will have close to £300m more to invest back into the business over the next three years. As such, the additional investment by funds managed by TDR will be used to support Stonegate’s continued growth. As part of the transaction, funds managed by TDR have also entered into arrangements with affiliates of Albacore Capital LLP and/or funds managed by it to exchange their commitments as a lender under the payment-in-kind facility agreement, for a non-controlling shareholding interest, with customary minority protections and the right to appoint a board director. TDR said that recent trading at Stonegate has been strong, with group profit up 7.7% in the first half of FY24. It said: “The lease and tenanted and the operator-led managed estate Craft Union businesses saw profits increase by 8.9% and 21.5% respectively. Craft Union in particular has performed well, with profits increasing to £77m up from £22m since the acquisition of Ei Group.” Tom Mitchell, managing partner, and Hassan ElGazzar, partner, at TDR Capital, said: “This successful refinancing and new equity investment marks an important moment for Stonegate as it looks to build on its position as the leading pub company in the country. Now with 4,800 sites, we will keep working with David and the whole Stonegate team, including franchise partners and tenants, to drive further growth and deliver the best value for customers.”
South west pub group Buccaneer plans to grow to 15 sites: Buccaneer Holdings, which runs nine managed pubs in the south west of England, has said it plans to grow to 15 sites. It comes as the business, which is headquartered in Cockleford, near Cheltenham, reported turnover was up from £9,633,565 in 2022 to £10,229,669. Pre-tax profit dropped from £290,496 to £262,091. The company paid £16,334 in dividends (2022: £6,334). “Energy prices continue to put pressure on profit due to supply and demand pushing up wholesale energy prices,” director Tim Ruthven said. “The company has, however, continued to control costs to ensure ongoing profitability. Shareholders’ funds have increased by £105,297.” Buccaneer Inns was started in 1974 by Michael Ruthven, in partnership with Heavitree Brewery, and built a 34-strong managed house company with a mixture of freeholds and leasehold properties spanning from Oxfordshire to Devon. In 1990, Buccaneer was sold to Whitbread, and Ruthven retained two pubs, which are both still in the Buccaneer group today. In 1993, Tim Ruthven joined his father, and with Andrew Jones, started Buccaneer Holdings, growing it to the nine sites it has today.
Jack Greenall looking to grow pub portfolio organically and spread across London and Home Counties: Jack Greenall, a scion of the Greenall Whitley brewing family, has told Propel he is looking to grow his pub portfolio organically and would love to spread outside its west London heartland and across the capital and the Home Counties. Earlier this week, Greenall added The Carpenters Arms in Hammersmith to a portfolio that now sits under the newly formed Wren Pubs, with The Surprise in Chelsea’s Christchurch Terrace and the Walmer Castle in Notting Hill. In terms of expansion, Greenall told Propel: “We are committed to organic growth with no upper limit, but we will not compromise on the sort of pub we’re looking for – historic buildings in great locations that need some love and are ready for a new chapter. We are not solely focused on west London – we would love to spread across the capital and Home Counties, with particular focus on West Sussex and Hampshire. We have a brilliant long-standing senior management team and trading is very strong with excellent, positive cash flow driving the growth. We are actively seeking our next opportunities.” Greenall, who is also a former operations manager at Upham Pub Group, also previously operated The Pheasant near Hungerford, Berkshire, before selling it to Young’s in 2022.
Tonkotsu FY losses narrow, lfl sales up 11%: Tonkotsu, which is backed by YFM Equity Partners and chaired by Sarah Willingham, saw pre-tax losses narrow in 2023, as it reported a 11% increase in like-for-like sales. The company reported turnover for the 12 months to 31 December 2023 of £13,781,615 (2022: £11,862,901), with a pre-tax loss of £212,786 against a loss of £712,271 the year before. It described its performance during the year as “good, but continued to impacted by external headwinds including train strikes, high inflation and the cost-of-living crisis”. Tonkotsu launched a new site in Clapham, south London, during the year, which “opened well”. Last month, Tonkotsu told Propel that it is “trading well” and that it is looking to add five new sites to its estate by the end of 2025. It came as the business confirmed it will open a site in Bristol later this year. As revealed by Propel last year, Tonkotsu will open in the city’s Baldwin Street in September, for what will be its 18th opening in total. It will be the brand’s third restaurant outside of London, joining its locations at Selfridges Birmingham and Brighton, which opened in 2021. Co-founder Emma Reynolds told Propel: “We’re trading well. Given the nature of the food, there is a bit of seasonal swing, and summer is usually a bit quieter, but our summer ramen range is selling more than ever, and a relatively cool July has been great, particularly at our London restaurants with bigger outdoor areas – Stratford, Battersea and Bankside. We’re on the search for another few London locations, as well as some more regional cities. The opening schedule will be property-led, and we’re looking at five sites before the end of 2025, including Bristol.”
Papa John’s hires former Wendy’s boss Todd Penegor as chief executive: Papa John’s International has hired Todd Penegor, who earlier this year stood down from leading Wendy’s, as its new chief executive and president. He will succeed Ravi Thanawala, who has served as the interim chief executive of Papa John’s since March, and will continue in his role as the brand’s chief financial officer. During Penegor’s time at Wendy’s, the company achieved substantial growth in sales, earnings and new restaurant counts, including the expansion of Wendy’s footprint to more than 7,000 restaurants worldwide, and its re-entry into the UK. Penegor said: “By consistently delivering on the “better ingredients, better pizza” brand promise, Papa John’s already has the best pizza in the industry. I am committed to providing exceptional customer experiences across all of our offerings and touchpoints to ensure we unlock the full potential of Papa John’s differentiated market position. Papa John’s has an exceptional foundation in place, and I’m confident in our ability to win in the quick service restaurant space.”
Tomahawk Steakhouse operator set to open first pub concept, sets out next pipeline of openings following Darlington closure: North east operator Howard Eggleston, who owns the Tomahawk Steakhouse brand and co-owns the Rio Brazilian brand, is set to open his first pub concept, Propel has learned. He is planning to next month open The Hawk in the site of his former Tomahawk Steakhouse in Ponteland, which closed in the summer of 2023. The concept was originally going to be in partnership with Jeremy Clarkson’s Hawkstone beer, but this changed following plans for Clarkson to open his own pub in the Cotswolds. The Hawk will still serve Clarkson’s beer but will now be run independently and operate as a Tomahawk Steakhouse with more of a pub offering. “We’ll still be pouring Hawkstone but it’s now more of a wholesale distribution deal and we’ll be doing it in a more independent way,” Eggleston said. “We wish Jeremy well in his pub venture, and we just know guests will love drinking Hawkstone both in his pub and ours.” It comes as the company closed its Tomahawk Steakhouse in Darlington, leaving it with an estate of eight Tomahawks and eight Rio Brazilians. “It was basically a breakdown in relationship between tenant and landlord, which became a bit of a mess and we decided to close the site,” Eggleston said. “Everything else is trading well. We are hoping to open Rio Brazilian sites in Sunderland and Glasgow this autumn/winter, and the next Tomahawk Steakhouse will be in Gateshead’s Metro Centre, while our Morpeth site is set to reopen this autumn.” Rio Brazilian, which Eggleston co-owns with Rodrigo Grassi, made its Scottish debut earlier this year with a launch in the former Jamie’s Italian site in Edinburgh’s historic Assembly Rooms building, in George Street.
Blank Street continues UK expansion with third Manchester site: US coffee brand Blank Street has continued its expansion in the UK with the opening of its third store in Manchester. The company, which already operates sites in the city’s King Street and Piccadilly Gardens, has opened a site in the Trafford Centre. “We’ve been met with such a warm reception in Manchester already and have been so excited to hear that Mancunians want more locations from us,” said Ignacio Llado, UK managing director at Blank Street. “We’re proud our third store in the city is at the Trafford Centre.” Propel revealed in June that Blank Street, which currently operates a further 31 sites in London, had lined up its first opening in Birmingham and is understood to be searching for sites in Edinburgh and Glasgow. It is also thought that Cardiff is on the company’s radar for future openings.
Safestay reaches agreement to exit ‘only unprofitable site’: Hostel operator Safestay, which operates 20 hostels across Europe, is to exit “our only unprofitable site”. The company is surrendering the lease of its 52-room property in Vienna to the landlord, Hotel La Prima GmbH & Co KG. In October 2018, Safestay signed a ten-year lease for the hotel, with the intention of converting the property into a hostel. Since then, the company has not been able to secure the licence required to do so and, “as a result, the hotel has not benefited from the same synergies and economics of the group's wider hostel portfolio, resulting in a loss”. In the 12 months to 31 December 2023, the hotel made a loss of £376,000 and had net liabilities of £506,000, excluding the intercompany debt. Under the terms of the agreement, the total consideration payable by Safestay is €532,000, representing historic covid-deferred rent. A new tenant for the hotel – Bosu SBS Hotel – has agreed to pay Safestay €275,000, which will be used to pay down the consideration. Safestay will pay a further €107,000 from a historic rent deposit account and €150,000 from the company's existing cash resources to settle the outstanding balance. Chairman Larry Lipman said: “While the site’s fundamentals align with our portfolio criteria, without the correct licence to become a hostel, it could never reach its potential within the group. Therefore, this is a suitable and strategic exit for us, removing our only loss-making property and enabling us to redeploy our capital to seek new opportunities with strong returns. We continue to execute against our growth strategy, with recent acquisitions in Brighton and Córdoba in Spain, as we focus on exploiting the significant growth opportunities available to us as an established international brand in the highly fragmented and significant global hostel market.”
Bewiched Coffee to open 18th site next week: Midlands cafe operator Bewiched Coffee will open its 18th site next week. The business, founded in 2010 when Matt Fountain ploughed his redundancy money into starting a small coffee shop in Wellingborough, will open the outlet on Friday, 9 August a 47 The Parade in Leamington Spa. Earlier this year, Fountain told Propel he was aiming to open five new stores in 2024, followed by a first designer village outlet location in 2025. Having launched an outlet in Market Harborough’s The Square in February, Bewiched has openings lined up in Bedford, Northampton and two in Wellingborough, including its third franchise site with Heart Of England Co-operative Society.
Firmdale Hotels reports record revenue driven by best year for London estate, set to refinance: Firmdale Hotels, which operates sites in London and New York, reported a second successive year of record revenue for the year to 31 January 2024, driven by a best year for its London estate, and is set to refinance. The company owns and operates eight hotels in London and three in New York, with the third opening in February 2024, close to the World Trade Centre. Firmdale is seeking further development opportunities in London, while plans to convert three adjacent buildings in the Bloomsbury area into a hotel as part of the Firmdale Town House collection are “well advanced”. The group said its year-end net current liabilities of £370,287,000 are driven by three sizable long-term loans maturing in November 2024, with heads of terms for the two maturing UK loans agreed, and the option to extend its US loan for a further year to be exercised. Revenue for the year was up from £192,581,000 in 2023 to £198,158,000. Of this, £125,363,000 came from the UK (2023: £120,928,000) – with growth in both rooms and food and beverage – and £72,795,000 from the US (2023: £71,653,000). Further analysis shows £133,993,000 of this came from rooms and apartments (2023: £129,630,000) and £58,455,000 from food and beverage (2023: £56,253,000). Group Ebitda showed a profit of £18.4m (2023: £20.8m) while its pre-tax loss widened from £2,480,000 to £2,888,000. Director Timothy Kemp said the record revenue was helped by international visitor numbers and spend continuing to rise. “In both London and New York, the extended strikes by both writers and actors significantly curtailed new product promotional activity by the entertainment industry,” he said. “This normally provides a steady flow of high value business, and is expected to recover substantially during 2024.” Combined average room rate in the London estate was £562 (2023: £568) a year-on-year decline of 1.0% as occupancy became the key focus for growth. Combined average occupancy in London was 75% (2023: 72%) and average rooms yield growth was 3.2%. Food and beverage revenue in London increased 3.9% while income from private events contributed 10.3% (2023: 9.7%) of total revenue.
Caribbean concept opens first shopping centre location for sixth site: Caribbean concept Jerk Junction has opened its first shopping centre location for its sixth site. It has launched in a 917 square-foot space in Manchester’s Trafford Centre, offering dishes such as jerk chicken, curried goat and lentil stew – all served with rice and peas and prepared with traditional spices. It joins the business’ locations in Chorlton, Altrincham, Wilmslow, Salford’s Media City and Sheffield. Jerk Junction founder Jake Shaffi said: “The Trafford Centre is iconic, especially its food court, but there’s a huge gap for authentic Jamaican food, so we are proud to be a homegrown concept that can really bring the heat and represent the island. Opening at the Trafford Centre is a huge achievement for us and really sets the tone for the levels we are taking Jerk Junction to. We cannot wait to reach new customers and continue our mission to make authentic Jamaican food more accessible in the UK.”
Yorkshire better burger business signs first franchisee: Yorkshire better burger business Urban Fresh Burgers & Fries has signed its first franchisee. The agreement marks the beginning of the business’ expansion through franchising, after announcing the opportunity in May this year. Husband and wife Mehmet and Meliha Candir, experienced entrepreneurs with backgrounds in the food and beverage industry, will launch their debut site, in South Yorkshire, in November. Meliha was a general manager with Urban and said: “After seeing first-hand the potential that Urban had, I knew becoming a franchisee was an opportunity we couldn’t pass up. We’re really looking forward to being a part of Urban’s expansion journey and opening our own store later this year.” Founded in 2017 by husband-and-wife team Mehmet and Zerin Kent, Urban currently operates two restaurants in Doncaster and one each in Barnsley and Rotherham, with each of the sites taking an average of £1m in their first full year of trading. Mehmet Kent said: “Mehmet and Meliha’s commitment to quality food and service aligns perfectly with Urban’s values and we’re confident their new store will be a huge hit. We’re seeing incredible demand at all our existing restaurants for dine-in as well as takeaway and we’re pleased to be able to offer new franchisees the opportunity to join our success, offering our full support to ensure they not only get off to the best start, but continue to thrive with us.” Zerin Kent told Propel in June that Urban sees potential for 200 sites and is open to opportunities across the UK.
Lisini puts Glasgow bar and restaurant on market for in excess of £1.35m as it looks to streamline operations: Lanarkshire operator Lisini Pub Company has put The Croft Bar & Restaurant in Glasgow on the market for an asking price in excess of £1.35m as it looks to streamline its operations. The venue, in Lugar Place, in the south side of the city, is being marketed by Christie & Co. Former Celtic player and founder of Lisini Pub Company, Harry Hood, established the pub in 1991, and it has remained in the Hood family’s ownership over the last 33 years. Managing director of Lisini Pub Company, Grant Hood, said: “Since our inception in 1969, Lisini Pub Company has earned a reputation for exceptional service, quality hospitality, and strong community ties. The decision to sell The Croft is part of a broader strategy to streamline our operations and invest more deeply in our venues and the development and well-being of our employees. The sale of The Croft will allow us to focus on our remaining venues – Angels Hotel, Dalziel Park Hotel and The Castle Rooms in Glasgow as well as Parkville Hotel in Motherwell – and will ensure we can continue to provide the highest standard of service and hospitality our guests have come to expect.”
Heavenly Desserts launches brunch offer: Artisan dessert restaurant Heavenly Desserts has launched a brunch offer. The menu is available daily from 10am-4.30pm at seven locations, with further restaurants to be added in early September. Brunch by Heavenly Desserts offers dishes such as Keralan spiced beans on sourdough, bacon and egg croffle, and its signature chai and pecan granola. Drinks include barista-made coffee and a selection of brunch smoothies. The seven locations offering brunch are Aberdeen, Cambridge, London’s Stratford, Manchester, Preston, Sutton Coldfield and York. In June, Heavenly Desserts’ new national operations manager Wesley Williams told Propel the brand, which operates circa 60 sites, has set a long-term target of up to 250 UK outlets. The company also operates a site in Canada, with another opening shortly, and also has launches lined up in Karachi and Lahore in Pakistan, New Delhi in India and Hamburg in Germany.
Black Rock Restaurants to open relocated The Coal Shed site in Brighton in September: Black Rock Restaurants will open the relocated Brighton site of its steak restaurant concept, The Coal Shed, to larger premises in the city in September. Owner Razak Helalat revealed in November plans to move the restaurant from Boyce’s Street to a 142-cover site in North Street in the spring. Having first opened in 2011, the move will see Helalat kickstart a new chapter for The Coal Shed. The space will feature a grand main dining room, located in a historical orangery, as well as three private dining spaces that cater up to 60 guests. There will also be an open fire kitchen, an ageing room for meat and, for the first time, a bar area with seating for up to 25 people, with a dedicated menu featuring small bites and sharing plates. The food offering at North Street will continue to champion the art of cooking over flames but with a more elevated menu, with the new restaurant also featuring an extensive seafood offering, a Sturia Caviar menu and a selection of cooked bread. The current Coal Shed Brighton restaurant will hold its final service on Sunday, 1 September. The group also owns The Salt Room, Burnt Orange and Tutto in Brighton, along with a second The Coal Shed restaurant in London.
London matcha bar concept to open third site: London matcha bar concept Jenki is to open its third site, in Covent Garden. The outlet, at 50a Long Acre, will launch on Friday, 9 August, joining its bars in Spitalfields and at Selfridges in Oxford Street. The new venue will offer the concept’s matcha menu including its iced lavender CBD matcha latte, the matcha soft serve and hot flat green. Jenki was founded in 2020 by Claudia and Otto Boyer.
New oyster bar opens in south London with second site to follow: A new oyster bar has opened in south London, with a second site set to follow. Oy Bar, which is the brainchild of Catriona Watt-Smith and Evgenly Zukin, has launched in Chestnut Grove, Balham, and is now gearing up for a Wimbledon opening later this year. The oysters can be enjoyed as an “Oy shot”, with a shot of vodka or a Bloody Mary, or customers can put together bundles that include a glass or carafe of wine. The menu also includes mushroom croquettes and a seafood platter featuring smoked salmon, crevettes, oysters and crab salad. On the wine front, there is white, red and rosé on tap. Watt-Smith told Hot Dinners: “The idea was to really get people to try lots of wine and food that they can enjoy together.”
Cornish Bakery reveals opening date for first Nottinghamshire branch: Fast-growing independent brand Cornish Bakery has revealed the opening date for its first site in Nottinghamshire. The business will open on Monday, 12 August in the former Jack Wills store in Nottingham’s Bridlesmith Gate, which closed in 2022, reports Nottingham Live. Founded in 1994 by Steve Grocutt, Cornish Bakery passed the 60-site landmark earlier this year and told Propel it planned to add ten more in 2024. In June, Cornish Bakery secured new funds to support its ambition of at least doubling its estate size in the coming years, having secured a funding package from Virgin Money. Cornish Bakery has also hired Mat Finch, formerly of Bourne Leisure, Dell and Google, as its first managing director.
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