Exclusive – RedCat completes £61m refinancing, giving business ‘stability required to invest for growth’: RedCat Pub Company, the investment vehicle founded and chaired by Rooney Anand, has completed a £61m refinancing, giving the business “the stability required to invest for growth”, Propel has learned. The refinancing of its current debt facilities comprises debt funding from Barclays Bank and further equity from the group’s existing investors, including funds managed by Oaktree Capital. The company said the deal “demonstrates a vote of confidence in the strategy, team and future success of the business”. RedCat group chief executive Richard Lewis said: “This is a hugely positive step forward for the business, with backing from a major high street bank, alongside further support from our partners at Oaktree. The refinancing provides the business with the stability required to invest for growth. The deal will enable the team to build on the successes we are already seeing with recent investments in our portfolio across both RedCat and the Coaching Inn Group, while enabling us to look to the future with even greater confidence and excitement.” The group reported turnover increased to £120,488,826 for the year ending 3 April 2023 compared with £62,790,800 for the previous 64-week period from when the company was incorporated in January 2021. Adjusted Ebitda stood at £3,584,251 (2022: £7,203,215) while pre-tax losses rose to £31,033,990 from £3,203,557. In September 2023, the group received £25.0m in additional funding from Oaktree Capital, £10m of which was used to repay part of its external borrowings. Following the period end, the group cancelled the undrawn portion of its facility totalling £45.8m, leaving total drawn facilities of £62.5m. RedCat was founded in February 2021. In March, Propel revealed that RedCat plans to exit more than a fifth of its 114-strong estate after a strategic review of its business. Alongside RedCat Leased Pubs, the ten-strong subsidiary that was placed into administration in March, it is looking to exit a further group of five sites within its managed division, taking the total potential number of managed sites being exited to 14. This takes the total number of sites the group plans to exit to 24.

Premium Club members to receive two new databases this week: Premium Club members are to receive two new databases this week. The next Propel New Openings Database will be sent tomorrow (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. Premium Club members will also receive the next Turnover & Profits Blue Book on Friday (9 August), at midday. The database will feature 59 updated accounts and 13 new companies for a total of 958. Of these, 602 are in profit and 356 have reported a loss. Premium Club members will also receive a 11,881-word report on the 268 new additions to the database. Premium Club members will also receive the next Turnover & Profits Blue Book on Friday (9 August), at midday. The database will feature 59 updated accounts and 13 new companies for a total of 958. Of these, 602 are in profit and 356 have reported a loss. Premium Club members also receive access to four other databases: the Multi-Site Database, produced in association with Virgate; 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.

 

Just Eat for Business – office orders up 25%, midweek period accounting for majority of deliveries: Just Eat for Business has said office orders are up 25% compared with the same period last year, with the midweek period accounting for majority of its deliveries. This rise has been driven by a rise in popularity of plant-based and healthy options, plus buffets and platters for communal eating, the company’s 2024 half-year food trends report said. It added Tuesdays, Wednesdays and Thursdays emerged as the most popular days for office food deliveries, accounting for 72% of total orders, reflecting a stronger midweek office attendance for UK employees. Vegan and vegetarian orders rose 15% over the last year, showing a broader trend towards more sustainable eating habits, while a surge towards healthier food options has also been observed, with restaurant partners such as Salad Kitchen seeing a 44% growth in orders on the platform compared with the same period in 2023. Buffets and platters are also more popular than ever, with both offerings increasing by 21% since the same period last year, “as office workers value communal dining on the days they venture into the office”. American (37%) remains the most popular cuisine, followed by Italian (21%), Mediterranean (15%), Japanese (14%) and Thai (13%). Matt Ephgrave, managing director at Just Eat for Business, said: “Our latest trends data clearly shows the vital role that food continues to play in the workplace, not just for sustenance, but as a means to improve employee well-being and social dynamics. It’s exciting to see the growing trend towards typically healthier options, and workers’ desire to enjoy a diverse range of cuisines at the office.”

 

Job of the day: COREcruitment is working with a growing purchasing business specialising in procurement for premium hospitality clients that is looking for a senior buyer. A COREcruitment spokesperson said: “You will be responsible for maintaining and nurturing relationships with existing suppliers while seeking opportunities with new suppliers to enhance the business position across all buying categories. This is a fantastic opportunity for a talented senior buyer to join a brilliant business that can offer an enjoyable working environment and genuine progression opportunities.” The salary is up to £70,000 and the position is based in London. For more information, email mikey@corecruitment.com.

 

Exclusive – Individual Restaurants FY turnover tops £74m, lfl sales up 6%, plans Chichester opening: Individual Restaurants, which comprises 32 venues across its Restaurant Bar & Grill, Piccolino, Piccolo and Riva Blu brands, saw turnover for the year to the end of March 2024 top £74m, as it saw like-for-like sales increase 6% and gears up to open a new site on the south coast later this year, Propel has learned. The Andrew Garton-led business, which is backed by Sir Malcolm Walker and Tarsem Dhaliwal, reported sales of £74.1m in the year to the end of March 2024, a total sales growth of 13%. The business served just under two million guests throughout that period. Garton said the business made a profit during the year and improved its Ebitda by £6m year on year. He told Propel: “2023/24 was a year of building the foundations, reaffirming our individuality as an organisation and that was built on four key pillars. Firstly, improving our food and beverage offer. The second thing was about service and the way we serve our guests. The third thing was around infrastructure. That was a huge piece of work which we conducted last year, all the way through from reaffirming our brand positioning, introducing a new CRM system, through to building new websites and launching a new loyalty program and reservation system. Future proofing our business and that transformation program was a huge piece of work and has built us into a business that’s now got strong operational capability for today, but also for growth. The fourth part of last year was about people, and that was about making sure that we were a business that engaged with our teams better. There was a clear strategy across all key roles of the business, and ultimately making sure the senior leadership team goes from strength to strength.” This saw Garton promoting David Carroll to chief business officer and Mark Window to group executive chef, as well as hiring Selena Green as commercial and insights director. The business invested between £5m and £6m last year on its estate, and has this year seen the opening of a new Piccolino in Henley and the conversion of its Restaurant Bar and Grill in Marlow to a Piccolino. Garton said: “As an organisation, we are not interested in a race for space. We’re not making a commitment to say we are going to open ten new sites this year. We are focused on opening sites that are right for our business. We’ll continue to keep investing in our organic estate. We’ve also got a very interesting pipeline of improvements to make across the estate as we go forward. So, we’re clear with our plan. It’s working. We will open more sites, but in the right place and that are right for us. We’ve just opened a fantastic new site in Henley, which is going especially well. We’ve converted the Restaurant Bar and Grill in Marlow, which is doing exceptionally well for us. We are also opening a new site in Chichester (on the former Three Joes site), which will open in the first week of November. Looking ahead, we’ve probably got a pipeline of four to five sites for next year.”

Istanbul-based burger concept that partnered with Alan Yau set to make UK debut this month: Zula, the Istanbul-based burger concept that partnered with Wagamama founder Alan Yau to launch in the UK, will open its debut site here this month. The concept, which is the brainchild of Üryan Doğmuş and Cihan Kıpçak, will launch in a 1,750 square-foot site at 5 Old Quebec Street, just off Oxford Street, offering “crafted burgers and comfort food”. Founded in 2017, Zula Burgers has since expanded from one stall at Harbiye to five outlets in Istanbul and plans to open further sites in London. The business partnered with both Yau – the founder of Hakkasan, Busaba Eathai and Yauatcha – and Reha Arslan, of Yamabahce, to realise its UK ambitions. Yau launched Yamabahçe, the concept centred around Turkish flatbread, in Marylebone, in 2018. 

 

Bubbleology launches new mobile kiosk format as it looks to roll out to high footfall locations in new regions: Bubbleology, the bubble tea bar operator, has launched a new mobile kiosk format as it looks to roll out to high footfall locations in new regions across the UK. Called “Airstream”, the first of its mobile vans opens in Westfield Stratford this month, marking its second site at the complex. “The new Airstream is the start of an innovative and versatile new trading style for the bubble tea brand, as it targets new site locations alongside its rapidly growing retail range,” the company said. “Following the success of the long-standing Bubbleology flagship site at Westfield Stratford, the Airstream expands the brand’s presence within the shopping centre and is situated outdoors in one of the shopping centre’s highest footfall walkways. Bubbleology will look at rolling out the new Airstream format at additional high footfall locations including other shopping centres, festivals and corporate and leisure events.” Kitted out to deliver the core Bubbleology drinks menu, plus a new pink marshmallow candy floss offering, customers can create and customise their bubble tea and bobas from the new Airstream location. Bubbleology founder Assad Khan added: “We’re delighted to unveil our first Airstream site and start this new format of trading as we continue to expand our presence nationwide. With this new versatile and mobile serving platform, we hope our latest opening in Westfield Stratford will lead to this being expanded to other regions across the country to further cement our position as the frontrunner in the UK bubble tea market, both in and out of the home.” As well as operating from 34 sites across the UK, Bubbleology has retail partnerships with the likes of Tesco, Asda and B&M.

 

Whitbread opens first combined Premier Inn and hub by Premier Inn hotel in London: Whitbread has opened its first combined Premier Inn and hub by Premier Inn hotel in London. The 369-bedroom hotel at Paddington station is in a former office building. Set over five storeys, the hotel offers latest format Premier Inn bedrooms above the ground floor reception and restaurant spaces. Compact hub by Premier Inn bedrooms are located in the basement, where “cutting-edge” lighting technology is installed to mimic the effect of natural daylight in the bedrooms. The opening completes Whitbread’s network plan for the Paddington catchment, where it has invested heavily in recent years. There are now more than 1,000 Premier Inn and hub by Premier Inn bedrooms across four hotels in the area, which collectively employ more than 200 people. Jonathan Langdon, senior acquisition manager for Central London, said: “We saw the potential of the Paddington area to be transformed by the opening of the Elizabeth Line and the wider investment that was happening in this area. We seized on the opportunity to expand our network in the catchment, and since spring 2022, we have opened more than 1,000 new guest bedrooms across four new large and easily accessible hotels, and by bringing two of our market leading hotel brands together into one building, we have demonstrated once again how flexible we can be for the right location.” Valerie Graham, operations director at Premier Inn, will be part of a panel discussing the challenges around career development in a fast-moving, broad sector 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. 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.

 

Loungers to strengthen Somerset presence with Nailsea opening: Café bar operator Loungers is to strengthen its presence in Somerset with an opening in Nailsea. The company is launching Livro Lounge in Nailsea, in the former library building, on Wednesday, 14 August. The opening will be its 230th Lounge site, reports Somerset Live, joining other sites in the county including in Frome, Weston-Super-Mare and Yeovil. Last month, Loungers, which also operates Cosy Club and Brightside, said it was opening a site, on average, every ten days.

 

PizzaExpress launches school and college leavers programme to find future leaders: PizzaExpress has launched its school and college leavers programme to find its future leaders. Running placements across England and Ireland, the initiative provides a fast-track training programme to becoming a general manager, on top of a level six degree apprenticeship. Once hired, PizzaExpress’ future leaders will go through a three-year programme at one of the brand's pizzerias. All applications are being submitted via Vizzy, a platform that allows applicants to use an interactive, personalised digital pinboard consisting of videos, infographics, insights and images to “bring their application to life”. Candidates can share their aspirations, ambitions, industry knowledge, skills and expertise on their bespoke profile. Kate Hetherington, chief people officer at PizzaExpress, said: “We are excited to have launched our school and college leavers programme to help us find our future leaders. We have incredible stories of progression at PizzaExpress with many people having grown through the business. We are always on the lookout for people with flair and passion for our brand.”

EL&N opens its first Deli & Bakery site: Cafe and lifestyle brand EL&N has opened the first site for its new Deli & Bakery concept. It has opened on Shaftesbury Capital’s historic pedestrianised Piazza within London’s Covent Garden. The 650 square-foot site offers seating for 14 diners inside as well as over 50 covers on the al fresco terrace. The venue features EL&N’s signature brunch classics such as smashed avocado and egg focaccia, brown sugar and sesame pancake, and burrata and truffle croissant. These are available alongside a range of new menu items, including freshly prepared, artisanal bakery products such as folded pizzas, mini pizzettas and 72-hour focaccia that has been finished in the pizza oven and topped with fresh Italian produce. There will also be a brand-new menu of special iced matcha lattes, a selection of speciality teas and an assortment of cakes available by the slice. The business currently operates circa 40 sites across 12 countries, with new territories under consideration are thought to include the US, Japan, India and further parts of Europe. In the past month, it has launched in Berlin, Cambodia and Malta.

 

Wingers set to open in Derby for 12th site: Buttermilk fried chicken restaurant concept Wingers is set to open in Derby for its 12th site. Although a location has not yet been confirmed, it will be a second Wingers restaurant in the region, alongside its site in the West Bridgford suburb of Nottingham. Wingers has further locations in Watford, Telford, Leamington Spa, Aldridge, Worcester, Wolverhampton, Hednesford, Lichfield and Birmingham International train station, alongside its first taproom concept, in Harborne. “Happy to share that the 12th Wingers franchise will soon be opening, in Derby,” said Amran Sumner, who founded Wingers with dad Bill and brother Dylan during the pandemic. “It’s mad to think that four years ago we were working on recipes in the family kitchen during covid, and now the 12th shop is opening. Our franchisees are the lifeblood of the Wingers business, and it’s important that they all have the tools and support they need to make their business a success. It’s been a lot of fun helping Amaneek Choongh get her shop ready for launch over the last few weeks, and she is Wingers first solo female franchisee. Starting a business always has its risks, which is why opening a franchise under a business that’s done it before can be a great way to get things off the ground as an entrepreneur. I can’t wait to see Amaneek smash it in Derby.” Sumner said earlier this month that Wingers has targeted 20 sites by the end of 2024, as it looks to expand further north and into Scotland, and that it is exploring further travel hub opportunities following the success of its Birmingham International site.

 

Nottingham McDonald’s franchisee returns to profit as turnover hits record £45m, closes one ‘underperforming’ site: McDonald’s franchisee Blades Restaurants, which operates ten restaurants in and around Nottingham, has reported turnover increased 4% to a record £45,044,127 for the year ending 31 December 2023 compared with £43,138,916 the previous year. The company, founded by Jerry Nicholls in 2008, posted a pre-tax profit of £533,544 compared with a loss of £243,664 the year before. During the period, the business closed one “underperforming” store. In his report accompanying the accounts, Nicholls said: “In common with many other similar businesses and industries, food, labour and utility costs increased considerably, along with overheads. Notwithstanding this, the company still recorded an operating profit of £641,058 compared with a loss of £243,664 the previous year. We believe the trading environment in which the company operates will continue to be challenging but remain optimistic regarding future trading and will continue the company’s reinvestment programme.” A dividend of £360,000 was paid (2022: £200,000).

Atis set to open seventh site: Atis, the London salad brand co-founded by former Noble Rot sommelier Eleanor Warder, is set to open its seventh site in the capital. It will open at 15 Eastcheap on Tuesday, 27 August for its second new site of 2024, following its launch at 295 Regent Street earlier this summer. It will offer customisable salad bowls, protein plates and a new summer specials menu, featuring the Japaleño Taco (tricolour quinoa, chopped romaine, cherry tomatoes, charred corn, pink slaw, spring onion, coriander, tortilla shards and a plant-based jalapeno caesar dressing) – all designed to be eaten at large communal tables. Warder, who co-founded the business with Philip Honer in 2019, said: “It’s super exciting to be opening a new site in the historic City of London in Eastcheap. The new opening is in line with our commitment to powering the capital with real and delicious food in a welcoming and community environment.” Atis is also located in Old Street, Belgravia, Notting Hill, Canary Wharf and Borough Yards. The new City store will offer delivery via Deliveroo and click and collect services, as well as kiosks for ordering in-store.

 

Northern Ireland hotel group gearing up for future growth following three-year plan to quadruple turnover: Northern Ireland operator McKeever Hotel Group has said it is gearing up for future growth following its three-year plan to quadruple its turnover. The group, which owns six hotels following the acquisition last month of The Lodge Hotel in Coleraine, unveiled a strategic plan in November 2023, which it said aims to increase its turnover to £60m. The company’s accounts for the year to 30 September 2023 showed turnover of £15,220,434, up from £13,567,633 in 2022. Pre-tax profit dropped from £1,928,867 in 2022 to £1,373,905. The company received £99,285 in grants (2022: £496,480) and £44,489 in commissions (2022: £39,591). Dividends of £70,000 were paid, the same as in the previous year. “The group is developing internal processes and procedures in order to grow the group of companies,” director Eugene McKeever said. “A well¬ established head office function is in place to facilitate any future projects and plans that the directors have identified as part of their three-year plan. The directors have considered the results for the group for the year and the financial position at the end of the year to be satisfactory and to have been achieved in a challenging time for the industry with rising costs.” Upon unveiling the group’s three-year plan, Eugene McKeever, who established the business in 1993, moved from managing director to chair, while his son Eddie, who was formerly operations director, replaced him as managing director.

 

North west sushi restaurant concept Unagi opens fifth site: North west sushi restaurant concept Unagi has opened its fifth site, in Salford Quays. The restaurant has 225 covers, a Tokyo 7 cocktail bar, an outdoor terrace and a sushi bar in the centre of the venue. Owners David and Jo Vanderhook have converted their sports bar, Lime Bar, which is between the Quayside MediaCityUK shopping centre and The Lowry theatre, to Unagi, which also has venues in Altrincham, Wilmslow, Cheetham Hill and West Didsbury. David Vanderhook told the Manchester Evening News: “I think, after 24 years old, Lime was getting a bit tired. Did we take our eye off the ball? Yeah, I guess we did, but it was a sports bar that catered to a certain amount of people who liked it. Luckily enough, we had a sushi concept up our sleeves ready to take over.” As well as sushi, the Unagi menu also includes curries, poké bowls and ramen. The Tokyo 7 concept, which is new for the Salford Quays restaurant, offers a range of cocktails, as well as Japanese spirits, sake and beer. The Vanderhooks also operate the Con Club in Altrincham and George Charles restaurant and bar in West Didsbury. 

 

Peel Hotels pays £2.5m to settle future rent liability on its derelict former hotel in Scotland: Peel Hotels has paid £2.5m to settle any future rent liability on its derelict former hotel in Scotland. The King Malcolm Hotel in Dunfermline closed in December 2020 after the company effectively wrote it off as “worthless” following a performance that had been “problematic for some years”. In its accounts for the year to 21 January 2024, the group said it had “settled all future rent liability on the hotel by paying the landlord a sum of £2,500,000, which has significantly impacted on our results”. The group’s results were also impacted by the sale of two hotels for £9.5m, which, as previously reported, left it debt free in April 2023. Turnover of £12,895,099 in 2023 (including £4,379,060 from discontinued operations) was reduced to £9,895,053 (including £644,427 from discontinued operations). A pre-tax profit of £1,077,505 in 2023 (including £381,942 from discontinued operations) turned into a loss of £1,672,857 (including £125,941 from discontinued operations). The group said if the added costs of selling the two hotels were stripped out of group administration charges (£195,444), and ignoring the exceptional expenses and profit on disposal, it was profitable. Ebitda decreased to a loss of £1,079,196 from a profit of £2,147,320 in 2023. As well as the future rent liability, other exceptional items included a £195,444 loss on disposal of fixed assets, £14,178 provision for unpaid rent payable for Strathdon in Nottingham and King Malcolm hotels, and £14,111 insurance income proceeds deficit regarding the Caledonian Hotel in Newcastle. The 2023 results also in included £1,928,273 received in insurance claims (2022: nil). Revpar was up 9.9%, with occupancy up 6.9% and average room rate up 2.9%. Administration expenses increased 18.8% from the added cost of selling the hotels. At the year-end, net debt stood as a credit of £196,057 (2023: £5,809,393 debit) representing zero loans (2023: £6,076,019) less cash at bank and in hand £196,057 (2023: £266,626). Capex of £845,201 was spent during the year (2023: £438,096), of which £378,979 applied to the two hotels that were sold. No dividends were paid (2023: nil). As well as the Caledonian, the company now operates the Bull Hotel in Peterborough, the Crown & Mitre in Carlisle and the George Hotel in Wallingford.

 

Japes opens first franchise site: Deep dish pizza concept Japes has opened its first franchise site. The business, founded by Aleksandar and Jovana Aleksic, secured its first partner in March – T4 bubble tea franchisee Ajmeet Singh. The entrepreneur has now open Japes’ third location overall, at 24 Parkway in London’s Camden Town, in a unit formerly occupied by Masala Zone. The site joins the Japes outlets that opened in Soho in 2018, and in Greenwich in 2023. “Japes’ Camden franchisee just opened, and it is already killing it with 56 five-star reviews,” said franchise consultant Matteo Frigeri. “Japes does not require hard-to-recruit, expensive pizza chefs, uses half the capex of a normal pizzeria, and everybody loves its delicious Chicago and Detroit- style pizza, which you can do without extraction. Look no further if you want to build your pizza empire.” Aleksandar Aleksic told Propel in March that the concept “can definitely open more than 50 locations in the UK”. The Serbian national, who was previously a professional kayak athlete who competed at London 2012, also said he believes being an Olympic sportsman gave him the discipline and mentality to succeed in business.

 

Hotel group sees turnover grow but profit dip: Hotel group Lowy Group saw its turnover grow but its profit dip in the year to 30 September 2023. The group, which operates three hotels in Brighton alongside a portfolio of serviced apartments, guest rooms and suites across London, reported an increase in revenue from £18,096,462 in 2022 to £18,963,752. This included £7,237,818 from hotels (2022: £16,923,652), £825,776 from serviced flats (2022: £722,810) and £900,158 from management fees and rent (2022: £450,000). Pre-tax profit dropped from £1,024,505 to £700,992. No government grants were received (2022: £18,000). No dividend was paid (2022: nil). Director Peter Lowy said: “The directors are satisfied with the performance of the group. The serviced apartment division enjoyed another extremely strong year, with record annual revenue and Ebitda being achieved across its portfolio. During the year, we signed an agreement to lease a block of ten apartments in Central London, which were launched in June 2024. Despite the challenges that the hospitality and leisure sector continue to face with significantly increased utility bills and the labour shortage, the increased cost of debt and the impact the cost of living is having on domestic demand, the directors consider the group to be well positioned with its geographical spread between London and Brighton as well as its different markets to drive profitability.”

 

Glasgow better burger business set to open third site in the city and plans expansion across Scotland: Glasgow better burger business Chilo’s is set to open a third site in the city and plans further expansion across Scotland. Founded In 2020 by Honk Kong national Afran Mahmood, Chilo’s has stores at 480 Paisley Road in Kinning Park and 88 Main Street in Uddington. It is now preparing to open in the former One Shot coffee shop at 488 Great Western Road in the city. The business also has stores in Kilmarnock, Bridgeton, Edinburgh and Stirling “coming soon”, according to its website. Mahmood said he got the idea for the business after moving to the UK, and having worked as a truck driver, encountered a “lack of quality food around Glasgow”. His aim, he said, was to offer fresh ingredients and all-natural, non-processed foods. Chilo’s serves a range of burgers, steaks and shakes, with “towering burgers” such as the King Kong burger, the Mad Angus and the Big Mama among the menu highlights.

 

Cardiff chef set to open third site: Cardiff chef Tommy Heaney is set to open third site in the city. The former Great British Menu contestant opened the eponymous Heaney’s restaurant in Romilly Crescent in 2018, followed by oyster and wine bar Uisce next door a year later. He has now partnered with Dave Killick, previously head chef at the Heathcock pub in Cardiff’s Bridge Street, for an as-yet-unnamed new venture, on the opposite side of Romilly Crescent. The 50-cover venue is set to open in September, offering nose-to-tail cooking using a lot of game, hand-rolled pasta and charcuterie, as well as cocktails and a curated wine list. “Dave and I have been friends for years and have always supported each other’s ventures,” Heaney told Wales Online. “I’d love to tell you this was a well thought out dream of ours, but in reality, we were having a drink in the pub, one thing led to another, and here we are. The opportunity came up and we couldn’t say no, it’s literally across the road from my restaurants. It’s completely different to what we do at Heaneys and Uisce. Come to think of it, it’s a new concept for Cardiff.” Heaney’s currently holds the British Restaurant Awards’ title of the best restaurant in Wales.

 

Hotel and wedding venues group reports fall in turnover and profit as rising costs and inflation ‘erodes consumers’ purchasing power’: Hotel and wedding venues group Heritage Rocks reported a fall in both turnover and profit in the year to 31 December 2023 as rising costs and inflation “eroded consumers’ purchasing power”. The business operates Manor By The Lake in Cheltenham plus Woodhall Manor and Seckford Hall – both in Woodbridge, Suffolk. The company was founded in 2010 by Tammy Madge and Michael Chittenden, as they set out to restore “beautiful heritage properties back to their former glory”. The group’s turnover dropped from £8,938,750 in 2022 to £7,575,453 during the year, while its pre-tax profit was down from £1,590,104 to £65,101. Ebitda was also reduced from £2,530,311 to £1,172,330. “The decrease in revenue and profit compared with 2022 reflects the impact the increases in inflation, interest rates and energy costs have had on the industry at large,” Chittenden said. “The rise in inflation has eroded consumers' purchasing power, ongoing increases in interest rates have raised the cost of borrowing for both consumers and businesses, reducing disposable income and investment capacity. Moreover, persistently high energy prices have driven up costs. These economic factors collectively have impacted the group’s performance. Turnover decreased 15.25% in the year as the UK economy struggled with inflation and interest rate rises. Operating profit and Ebitda reduced significantly in the year as expected, following the cessation of various government grants and local authority concessions, and due to the significant inflationary cost pressures in the UK particularly in relation to supply chain costs and energy costs.” A final dividend of £150 per share was recommended, with a total distribution for the year of £150,000 (2022: nil).

Market Place set to welcomes six new vendors across three venues: Food hall concept Market Place is set to welcome six new vendors across three of its four venues. As revealed by Propel last month, Korean fried chicken concept KokoDoo is coming to Market Place’s Harrow site for its sixth location. It will be joined at Harrow by Greek cuisine specialists Original Souvlaki, offering skewers served in a pita wrap or in a salad box. Gourmet burger brand Burger Nine, whose offer includes a chilli smash burger using their homemade house pimento sauce, will be coming to Market Place Peckham, along with Neapolitan-style “wallet” pizzas from Wallet Pizza. A third new arrival at Peckham is Tropikazo, offering South American coffee and sweet treats, while London’s only 100% gluten-free fish and chip shop, Wicked Fish, is taking a place at Market Place Vauxhall. Market Place managing director Blake Henderson said: “September marks our second anniversary operating as a brand, and we feel these new vendors showcase why Market Place is so successful. Through our knowledge of the UK food scene, our own data and by keeping our finger on the pulse, we pride ourselves on bringing the very best of British street food to each and every one of our locations.” Market Place is also understood to be planning a new central London site, at 150 Cheapside.