Trio of sites from ex-East London Pub Co business change hands for just over £9m: A trio of pubs that were part of the East London Pub Co business, which was placed into administration last November, were sold for a combined figure of just over £9m, Propel has learned. East London Pub Company, which was founded by Patrick Frawley with the launch of its first pub, the Ten Bells in Spitalfields Market, in 2014, was placed into administration last year, with Sarah Rayment and Janet Burt, of Kroll Advisory, appointed as joint administrators. Savills, on behalf of the joint administrators of East London Pub Company and Lock Tavern, was marketing the disposals of its four London properties: the freeholds of The Lock Tavern in Camden and The Saxon in Clapham, as well as the leaseholds of The Ten Bells and The Gun, which is also in Spitalfields Market. Propel has learned that McMullens acquired the Lock Tavern in Chalk Farm Road for £6,278,694. The pub, which received seven bids, was added to McMullens’ managed estate. The owners of the Rose & Crown in Clapham acquired The Saxon, which received three offers, for £2m. South London craft beer brewer London Beer Factory acquired The Ten Bells in Spitalfields, which received four offers, for £900,000. The sales price for The Gun, which was acquired by Urban Pubs & Bars, the London pub operator founded by Malc Heap and Nick Pring and backed by Davidson Kempner and Global Mutual, has yet to be disclosed. Urban Pubs & Bars acquires East Dulwich pub – see Company News

Oakman Group HR director Jill Scatchard to speak at Propel’s Talent & Training Conference, open for bookings with 20% discount on tickets for Premium Club members: Jill Scatchard, HR director at Oakman Group, 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. Scatchard will discuss how the award-winning Oakman has kept its staff retention at an all-time high, how its ongoing efforts in six core pillars of engagement – reward and recognition, information sharing, empowerment, well-being, instilling pride and job satisfaction – continue to gain it recognition in the Sunday Times Best Places to Work list, and how ensuring it provides a positive workplace and commitment to the well-being of its team, pays dividends. 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 next week featuring 878 companies: The next Who’s Who of UK Hospitality will be released to Premium Club members on Friday, 23 August, at midday. Another seven companies have been added to the database, which now features 878 companies. This month’s edition will also include 85 updated entries. 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.

Food shoppers hit by first rise in inflation for 16 months: Shoppers have suffered a rise in grocery inflation for the first time in more than a year. The Times reported that among the items responsible are vitamins, fruit juice and chocolate. Sales of cough lozenges rose sharply as people tried to keep a resurgence of covid at bay while enjoying a summer of sport. Grocery inflation was up 1.8% on an annual basis in August, from 1.6% in the previous month, the first rise since March last year, figures from Kantar, the research provider, showed. Shop prices were measured in the four weeks to 4 August. Shoppers watched the start of the Olympics over drinks and snacks, with sales of wine up by 35%, nuts rising by 60% and crisps up 10% on the Friday of the opening ceremony in Paris. Meanwhile, £10m was spent on beer on the day of the Euro 2024 final. Sales of burgers rose by 32% compared with the same time last year, while the amount spent on ice cream was 23% higher. The rise in grocery prices underscores the difficulties faced by the Bank of England in keeping inflation at its target in the coming months.

Scotland’s holiday let crackdown ‘backfires’ as black market grows ‘exponentially’: A crackdown on short-term lets in Edinburgh has led to the “exponential growth” of a black market for Fringe accommodation. The cost of accommodation during the festival has traditionally been much higher than at other times of the year, with comedians including Jason Manford expressing concern that prices were an “absolute joke”. Spare rooms are being rented for more than £100 a night on social media, and the average Airbnb booking in the Scottish capital during the festival stands at £281, according to Edinburgh Live. But a scheme for short-term lets introduced last October means anyone who wants to take bookings and receive guests now needs a licence, and includes self-catered accommodation and B&Bs. Since the scheme launched last year, the City of Edinburgh Council has granted just 168 temporary exemptions for these sorts of lettings, which last up to six weeks, according to the Association of Scotland’s Self-Caterers. Chief executive Fiona Campbell told The Telegraph: “What is unfolding in Edinburgh is an all too predictable mess, one which could have been avoided if the conflation of licensing and planning regimes had been suitably dealt with. While legitimate professional businesses are threatened with closure, the capital is awash with unlicensed properties in a flourishing black market.” The short-term let licences are granted by local authorities, which are allowed to set their own pricing for the permissions. The average application fee for a three-year licence varies from around £260 for a double room up to £520 for a short-term rental house with a maximum occupancy of ten, according to official government figures. A consultation by the council into how the licensing scheme is working in the city closes on 14 October. 

Shake Shack to use robots to deliver orders in the US: US better burger brand Shake Shack has partnered with Serve Robotics to deliver meals via Uber Eats from select restaurants in Los Angeles. Customers ordering Shake Shack on Uber Eats will receive a notification that their delivery may be brought to them via robot. Customers can then track the robot and use the Uber Eats app to retrieve their orders when the bot arrives. The all-electric and artificial intelligence-powered bots, which look like boxes on wheels, are equipped with advanced GPS technology and are designed to eliminate noise and congestion from crowded urban areas. Serve and Uber’s partnership began in 2022 as a pilot in West Hollywood. Steph So, senior vice-president of digital experience at Shake Shack, said: “In line with our vision of enlightened hospitality, this partnership highlights our commitment to leveraging innovation to enhance guest experiences both in and out of Shack.” 

Job of the day: COREcruitment is working with a high-end events company looking for an operations manager to oversee its portfolio venues across the south of England. A COREcruitment spokesperson said: “The operations manager will lead the day-to-day commercial operations of the business. This is a multi-faceted role that will require a hands-on and proactive approach, and the ideal candidate will need an exceptional eye for detail and to be a passionate self-starter.” The salary is up to £55,000 and the position is based in Surrey. For more information, email marlene@corecruitment.com. 

Individual Restaurants to discontinue Piccolo brand: Individual Restaurants – which comprises 32 venues across its Restaurant Bar & Grill, Piccolino, Riva Blu and Piccolo brands – is to discontinue the latter to focus expansion on its core formats. At the end of 2022, Individual Restaurants converted its three Gino's My Pizza and Prosecco Bar sites to new concept “Piccolo” by Piccolino. The Gino’s My Pizza and Prosecco Bar sites inside the Next stores at Manchester Arndale, Hull and Leeds all reopened under the new brand, which Individual Restaurants describes as a “small Italian restaurant with big dreams”. The company has since converted the Hull and Leeds sites to its Riva Blu brand, with the site in Manchester’s Arndale scheme set to close next month. Individual Restaurants chief executive Andrew Garton told Propel: “We are closing Piccolo as a brand. We converted two sites, one in Hull, one in Leeds, refreshed and invested in those sites and they’ve joined the Riva Blu family. So now we have six Riva Blus and then we're left with one Piccolo that closes in September, which is in Arndale and the staff are aware.” The company also operates four sites under its Restaurant Bar & Grill brand. Garton said: “The growth plan for Restaurant Bar & Grill is still there but it's a little bit more pedestrian than the one for Piccolino. Restaurant Bar & Grill has got a huge brand presence in the north west, but if we find the right site in Manchester then we would be interested in adding one there.” Propel reported earlier this month that Individual Restaurants saw turnover for the year to the end of March 2024 top £74m, as it saw like-for-like sales increase 6%. It will open a new Piccolino in Chichester, West Sussex, on the former Three Joes site, in November. On further growing the 21-strong Piccolino brand, Garton said: “Looking ahead, we’ve probably got a pipeline of four to five sites for next year.”

Taco Bell UK launches music gig initiative extending closing hours at select restaurants: Taco Bell, the Yum! Brands-owned brand, which operates circa 135 sites in the UK, is keeping its doors open later with the launch of Encore Hours, a new initiative to reward music fans at select locations. The company said with current restaurant options closing as early as 10pm, music fans often face the choice of “missing their favourite artists’ encore songs or grabbing a bite to eat”. However, it added concertgoers “won’t need to choose between tunes and tacos”. The first Encore Hours will kick off in London at Taco Bell Wembley High Road from Thursday (15 August) until Tuesday (20 August), with the restaurant remaining open until 2am. Whilst the extended opening hours will pilot at Wembley High Road, selected locations across the UK close to various venues will also be launching Encore Hours this year. The following restaurants will extend their opening hours to 2am on the specified dates: 20 September – 84 Clapham High Street, London; 4 October – 75 Southampton Row, London; 22 October – 122 Camden High Street, London; and 12 December – 95-99 Western Road, Brighton. Amy Durini, Taco Bell international chief marketing officer, said: “At Taco Bell, we believe fans should not have to choose between tacos and tunes – and that’s how Encore Hours was born. We’re excited to be extending our opening hours across selected restaurants, kicking off with London’s Wembley High Road this month. Taco Bell is committed to showing up for music fans. By extending our opening times, we’re making sure fans can enjoy the encore of their gig and not miss out on grabbing a bite afterwards.” The unveiling of Encore Hours comes after the brand’s launch of its Feed the Beat programme in the UK earlier this year. Launched in the US in 2006, the programme helps emerging musicians by picking up the bill. The programme is designed to connect upcoming bands with fans by fuelling artists on the road.

London Wendy’s franchisee opens debut site, lines up Fulham opening: GH Burgers, the new vehicle set up by Pizza Hut franchisee Alhassan Goussous, has opened its first Wendy’s site in London, with a second already secured, Propel has learned. Propel revealed this spring that Wendy’s, the third-largest quick service restaurant chain in the US, had signed up GH Burgers to be its fourth UK franchise partner. Goussous, through his MSAJ Pizza business, currently operates 23 Pizza Hut delivery sites and a restaurant and delivery outlet in Ilford. Turnover for the business has grown from £5m in 2020 to a projected £15m this year, while employee numbers have more than tripled to in excess of 400. Under its agreement with Wendy’s, the company has opened its first site in Wood Green. At the same time, Propel understands that GH Burgers has secured the Thai Square site in Fulham Broadway for a further opening later this year. GH Burgers joined Wendy’s other UK franchise partners, Square Burgers, Blank Table and JRK Restaurants. Thai Square currently operates ten sites, eight in London, plus restaurants in St Albans and Windsor. Thai Square announced its departure from Fulham last month and said it plans to relocate to Bayswater Road, with an opening scheduled for this autumn. 

 

Luxford Burgers targeting ten-strong estate as it extends agreement with Deliveroo: Better gourmet business Luxford Burgers has said it is targeting a ten-strong estate by the second quarter of next year as it extends its exclusivity agreement with Deliveroo. The six-strong business was founded in October 2020 by Alexander Galpin, starting out from a dark kitchen in a shipping container in Leith before moving to a flagship restaurant in St Leonard’s Street in Edinburgh in March 2021. During 2022 and 2023, it expanded across the UK by opening delivery-only kitchens in Glasgow, Manchester, Nottingham, Cambridge and Leeds, thanks to investment from Deliveroo and participation in its Deliveroo “Editions” model. Galpin told Propel that Luxford Burgers has focused this year on growing its bricks-and-mortar offering and its new site in the Canonmills area of Edinburgh will be launching in early September. He said: “We are actively looking for the right sites in Newcastle, Durham and Liverpool, while also expanding our delivery-only side of the business into Bristol.” Luxford Burgers has this week agreed to extend exclusivity with Deliveroo. Luxford Burgers reported 85% like-for-like year-on-year growth through the delivery app while also undergoing significant expansion across the UK. Galpin said: “We’re incredibly happy to report such strong year-on-year growth and recognise Deliveroo’s market share as a primary factor in this. Subsequently, we’re happy to further extend exclusivity with Deliveroo and look forward to achieving the same year-on-year growth this year.” 

 

The Padel Club secures £3.8m funding for further growth: The Padel Club is set for its next stage of growth after securing £3.8m of new funding. The Padel Club, which was founded by Kris Ball in 2020 and currently operates four courts, intends to use its new funding to grow to 42 courts by 2025. The company has already announced plans for a new 11-court site in Trafford City in Manchester. Of the £3.8m raised, £1.5m came from Northern Powerhouse Investment Fund II – Praetura Equity Finance, which is managed by Praetura as part of the Northern Powerhouse fund. Charlotte Kopciowski, head of finance at The Padel Club, said: “We are a north west start-up that has developed a real community at our club in Wilmslow. We are very excited to be partnering with Praetura and the expertise it can add to our already strong board and management team. This investment will help us supercharge our growth. It will enable us to capitalise on the strong pipeline of sites that we have built and speed up our site opening plan of new clubs.” A new report produced by Propel on the fast-growing experiential leisure sector was launched on 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 180 companies, 3,500 sites and a 35,000-word report. The report is available for £595 plus VAT although 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.

Urban Pubs & Bars adds East Dulwich site to growing London estate: Urban Pubs & Bars, the London pub operator founded by Malc Heap and Nick Pring and backed by Davidson Kempner and Global Mutual, has added to its estate in the capital, with an acquisition in East Dulwich. The now 44-strong business has acquired The Herne – a Victorian pub that was built in the mid-19th century and has a huge beer garden. The company has already installed a new menu. which features pub classics and a Sunday roast. This adds to the tally of Urban Pubs & Bars sites opened this year, which includes Spitalfields pub The Gun from East London Pub Co and The Red Setter located in Northcote Road, between Battersea and Clapham. The latter venue had undergone a £1m refurbishment and building programme. Earlier this year, Urban Pubs & Bars announced group Ebitda of £6.4m for the year ending 30 April 2023, an improvement of 11% versus the prior year. It reported like-for-like sales were up 17% and turnover increased by almost 60% to £52.2m. The previous financial year had been a transformational period for the group with significant new investment including the acquisition of 16 sites. The group has more than doubled in size in the last 24 months. Since the start of the current financial year, the business has successfully opened four new sites including The Red Setter, Victory at Waterloo station, Railway in Putney and The Junction in Islington, with trading exceeding expectations. Managing director Chris Hill said: “We are delighted to add The Gun in Spitalfields and The Herne in East Dulwich to our growing portfolio. These are iconic pubs and we will continue to offer the excellent food, drink and great service that Urban Pubs & Bars is famous for.”

Fireaway makes its debut in Turkey: Fireaway, the Mario Aleppo-led business, has increased its international presence with an opening in Turkey. The circa 175-strong business has opened a site in the Adnan Kahveci neighbourhood of Istanbul. Earlier this year, Fireaway opened in Lisbon for its first site in Portugal. The business, which also operates sites in the Netherlands and Northern Ireland, is set to increase its international presence further with plans to launch in Dubai later this year. In June, the company made its entrance into the petrol forecourt market with the opening of its new kiosk express format, with plans to open five more over the next year. The business partnered with Highway Shops Retail, which operates circa 15 forecourts across the south east, to launch the new kiosk format in a site in Gravesend, Kent. Fireaway has opened within a Londis convenience store at the petrol station with dual signage. The 150 square-foot site has 17 covers and offers eat in and delivery. The brand secured investment from six new backers in October 2022 and plans to have 500 sites within the next five years.

Loungers opens 230th Lounge, lines up opening on former Banyan site: Café bar operator Loungers has opened its 230th Lounge site and lined up an opening on a further former Banyan venue in Yorkshire. The Nick Collins-led business has opened its latest site, its 269th overall, in the former library in Nailsea, north Somerset. Earlier this year, the company transformed the former Banyan site in Brook Street, Ilkley, into the Vitello Lounge. The company has now secured the Banyan site in Street Lane, Roundhay, which announced its closure last month. It will reopen later this October as Hesco Lounge, creating 30 jobs in the process. The company also recently signed an agreement for a lease with Waverley Borough Council to occupy the former M & Co premises at 69 High Street, Godalming, Surrey, and secured planned permission to convert the former Burtons warehouse in St Peter’s Wharf, Ipswich, into a Lounge. Last month, Loungers, which also operates Cosy Club and Brightside, said it was opening a site, on average, every ten days. 

Carlsberg CEO – Madri is denting our sales in the UK: The rise of faux Spanish lager brand Madrí Excepcional is denting Carlsberg’s sales in the UK, the boss of the Danish brewer has said. Jacob Aarup-Andersen, chief executive of Carlsberg, said its beer was losing market share in Britain amid soaring sales of Madrí, which is brewed by rival company Molson Coors. Madrí, which was launched in British pubs in 2020, has become one of the UK’s biggest beer brands, with annual sales of £93.3m in 2023, according to NIQ. Aarup-Andersen told The Telegraph: “We’re seeing a continued high competition in world beers. It’s a fierce battleground in the UK. We have some good propositions there, but we’re also seeing a number of our competitors pushing very hard in that segment. There’s no doubt that one of the brands that is doing well in the UK is Madrí. If you look at the market share, it’s done well. I think it found a good proposition there. So kudos, kudos to it.” It comes amid a row over Madrí and other so-called world beers that are actually brewed in Britain. The boss of Estrella Galicia, which has brewed beer in the Spanish region of Galicia for more than 100 years, in June accused Madrí of “a lack of transparency” over its heritage. Molson Coors has said Madrí was created in partnership with La Sagra, a craft brewer in Spain that it also owns. As well as its namesake lager and San Miguel, Carlsberg sells the Brooklyn and Kronenbourg 1664 brands in Britain. On Tuesday (13 August), Carlsberg posted a 3.9% increase in sales to 38.8bn Danish Kroner (£4.46bn) over the first half of 2024 and upgraded its profit forecasts, but warned of weakening demand over the summer. Molson Coors declined to comment.

Focus Hotels reports all sites ‘trading well’ and seeing ‘significant reduction in costs’, further potential properties in pipeline: Focus Hotels Management, which manages more than 1,700 rooms across 11 hotels in the UK, has said its sites are “all trading well” with the company seeing a “significant reduction in costs” and has further potential properties in the pipeline. It comes as the group reported turnover increased to £18,866,433 for the year ending 31 December 2023 compared with £17,136,924 the previous year. Pre-tax profit was down to £95,316 from £268,184 the previous year. Occupancy was up to 82.3% from 69.4% with average room rate increasing to £84.56 from £85.03 and revpar growing to £69.59 from £59.01. In their report accompanying the accounts, the directors stated: “All of the hotels are trading well. The strain of utilities disappeared from October 2023 with a significant reduction in costs, which will improve the performance of all hotels, improving the profit and therefore the outlook of incentive fees for 2024 and beyond. Our Hatfield, Oxford and Cheshunt hotels have continued to provide accommodation for asylum seekers on behalf of the Home Office that sees them trade through a fixed income (and therefore in effect almost guaranteed profit) that continues until the end of 2024. The Hampton by Hilton Bristol contract was terminated on 31 August 2023. Management support continued until 31 December 2023. Hotel Indigo Exeter entered the portfolio in November 2023 following the hotel opening for trade in March 2023. The management agreement for The Bedford Hotel, Belfast, was signed in December 2023. This is a new five-star hotel in Northern Ireland due to open in the spring/summer of 2025. The Polo Club hotel in Warwickshire has also been signed and will open early in 2025. This is a boutique hotel set in 200 acres countryside. There are also a number of proposals to run new hotels in the final stages of legal review.” No dividend was paid (2022: nil).

Fatto a Mano secures Bethnal Green site: Fatto a Mano, the independent pizza concept founded in Brighton in 2015 by Rupert Davidson and Dav Sahota, is to open a third site in London, in Bethnal Green. The five-strong company’s new restaurant will open on the former Sager + Wilde site in Paradise Row this autumn. Sahota said: “We're big fans of what [Sager + Wilde founder] Michael Sager has done for the hospitality industry, and for the Bethnal Green neighbourhood in particular. We look forward to building relationships with our neighbours and the community when we open this autumn.” Last month, Propel revealed that Fatto a Mano had secured new investment, including from Middleton Enterprises, which provides growth capital to established and profitable small and medium-sized businesses. Middleton Enterprises, which also backs quick service sushi roll concept SushiDog, said its investment would help the Fatto a Mano grow its “commitment to Neapolitan pizza”, including in London. The company made its bricks-and-mortar debut in London with the opening of Fatto a Mano Pizza & Beer in King’s Cross. It followed this up with opening Fatto a Mano Pizzeria at 30 St Martins Lane, Covent Garden, at the end of last year. The business also operates two pizzerias in Brighton and one in Hove. Nick Garston, of the Found Agency, and Michael Penfold, of AG&G, acted on the Bethnal Green deal.

Irish-themed bar concept Katie O’Briens secures Leeds and Birmingham sites: Irish-themed bar concept Katie O’Briens is set to open two new sites before the end of the year. The five-strong business, which opened in Nottingham at the end of June, is understood to have secured the Bar Soba site in Greek Street, Leeds, and a site in Broad Street, Birmingham. In Nottingham, the business opened in Long Row, on the site previously home to Long Row Social and before that Pieminister. Katie O’Briens also currently operates sites in Leicester, Newcastle, Sheffield and Durham. The concept “offers a taste of Ireland, right on your doorstep”, according to its website with live music and multi-screen sports.

 

Chit ‘n’ Chaat secures fourth Manchester site: Indian street food concept Chit ‘n’ Chaat is to open its fourth site in Manchester, this autumn. The business, which also operates a site in London’s Bethnal Green, has secured a 2,000 square-foot site in the Trafford Centre. The opening will form part of Trafford Centre’s new look dining area in the Upper Orient. Sagar Modha, co-founder of Chit ‘n’ Chaat, said: “Trafford Centre is a dream location for our business. After nearly two years of planning, we are proud to achieve this milestone and look forward to welcoming customers. Our vision has always been to bring the vibrant flavours of Indian street food to new markets, and Trafford Centre provides the ideal platform to do just that. We’re eager to share our culinary heritage with our customers and look forward to the exciting journey ahead.” Kitty Vaughan, head of UK leisure and food and beverage leasing at landlord Pradera Lateral, added: “The opening of Chit ‘n’ Chaat is a highly valuable addition to Trafford Centre, reflecting our commitment to providing an exciting and varied dining experience for our visitors.”

Sport London and Arc Inspirations announce 2024 NFL events series: The official NFL sports bar partners in London, Sport London – the premium sports-led hospitality venues from ETM Group and Maven Leisure – and Box, the Arc Inspirations brand, have announced a series of events for the upcoming American football 2024 season. Throughout the season, the bars will host exclusive parties, team takeovers, giveaways and food and drink deals at 12 venues across the UK. Sport London will invite Londoners to join NFL season-long festivities at its venues including Greenwood in Victoria, Redwood in London Bridge and Beechwood in Shoreditch. Outside of the capital, Box will showcase all the action at its sports bars in the Midlands and north of England. With official NFL venues in Leeds, Manchester, Birmingham and Nottingham, fans will be able to participate in events throughout the NFL season, including the 2024 NFL London Games in October and Super Bowl LIX on 9 February 2025. Ed Martin, chief executive of ETM Group, said: “Our team cannot wait to welcome the capital’s growing number of NFL fans to our electric Sport London venues. Each of our venues is meticulously designed for sports fans, by sports fans, to ensure a premium offering and best-in-class sports facilities, providing an extraordinary NFL experience throughout the upcoming season.” Co-founder and chief executive of Arc Inspirations, Martin Wolstencroft, added: “This is an extremely exciting time of year, and we’re thrilled to be able to help NFL fans celebrate the upcoming season through a great line up of events — ensuring the best fan experience possible.”

 

Tyneside brewery collapsed owing more than £500,000: A Newcastle brewery that was saved from closure in a pre-pack deal collapsed owing more than £500,000 to creditors, documents reveal. Anarchy Brew Co has now been acquired by north east operator Northern Bar Management, 13 years after it was founded by husband-and-wife-team Simon and Dawn Miles. Business Live reported that documents filed by joint administrators at FRP Advisory show how Anarchy Brew Co fell into financial difficulties as of result of it having to pay back covid loans on top of existing financial obligations – challenges that were then amplified by the cost-of-living crisis and increases in labour, utilities and suppliers’ costs. The report said: “While every effort has been made by the directors to manage the position by negotiation with key creditors and cutting costs where possible, the position has become financially unmanageable.” Bosses at the brewery, which has 11 full-time staff plus around five casual staff to support events, have yet to file a statement of the firm’s financial affairs but the joint administrators have compiled estimates, showing the shortfall owed to creditors is £492,413. Within that figure unsecured creditors – which include trade creditors, the landlord and loans and finance agreements – are owed £261,468. HM Revenue & Customs is owed £158,016. The administrators’ report also shows that, when they started to market the business for sale, 25 interested parties asked for information, which resulted in four offers. The offer chosen – from Northern Bar Management – led to it being sold for £65,000. Last week the new owners said Anarchy Beers, a new company, has been formed to take over the brewery and that all of the staff will continue to be employed, and that investment into the business is also set to be made. The brewery’s taproom event space is set to launch new features.

South Devon hotel operator sees profit drop as electricity costs climb 280%: South Devon hotel operator Thurlestone Estates has reported turnover fell to £8,664,307 for the year ending 31 October 2023 compared with £9,459,314 the previous year. The group, which operates the Thurlestone Hotel & Spa and Mullion Cove Hotel & Spa alongside several holiday apartments, saw pre-tax profit drop to £213,386 from £1,261,360 the year before. The company said the spike in energy prices has resulted in its annual electricity costs climbing 280%, which the group has had to absorb, leading to lower profit. Occupancy fell to 52% from 65% the year before while gross margin percentage was down slightly to 46% from 47%. Net assets increased to £18,925,000 from £13,529,000. In their report accompanying the accounts, the directors stated: “Group turnover decreased £795,000, due to a reduction in demand in the year. This followed a dynamic experienced by many other holiday destination hotels in the UK, where demand has fallen following the high demand seen in the previous year, which occurred following the relaxation of covid-19 restrictions. Lower occupancy rates at both hotels and apartments reflected the reduction in demand experienced in the financial year. Room rates at a relatively high level were still achieved reflecting the high standard of product being delivered. The gross margin has decreased by 1%, which reflects the inflationary pressure on direct costs particularly on food items. Management believes the quality of service remains at a high level, and efficiency gains continue to be sought.” The group did not receive any government grants (2022: £16,000). A dividend of £183,733 was paid (2022: £183,733).

 

East Suffolk bakery plans more locations after having to close debut site: East Suffolk bakery Mama Bears Cake Bar is planning more locations after having to close its debut site. Rebecca Cockett opened her first store three years ago, in Saxmundham, after setting up the business two years prior. The bakery later expanded to a second location in Ipswich, in The Walk, which remains open. However, the Saxmundham site is set to close after the retail space was put on the market. “Our Saxmundham store will be closing later this year as the lease has come to a natural end,” Cockett said. “We will be looking for new premises for future shops. Saxmundham has been absolutely amazing over the last three years, and I can’t thank you all enough for your love and support.”