Time Out confirms negotiations for new London market almost two years after abandoning previous plans: Time Out Group has confirmed it is in negotiations for a new food market in London – almost two years after scrapping plans to open a site in the capital. It comes after EG Radius reported that Time Out was nearing a deal with the Crown Estate for a site at 10 Piccadilly. The grade II-listed building has stood at the heart of Piccadilly Circus for nearly 100 years. Constructed in 1925, the building was first home to the Swan and Edgar Department Store before it was the flagship store for Tower Records in the 1980s. The existing building was internally re-modelled in the 1980s and has in recent years continued to offer office and retail space. The Crown Estate is planning to refurbish the building “to ensure that it is fit for the future”. The website states: “As well as providing modern office space that supports the West End economy through increasing job opportunities, the development will also deliver new outstanding food and drink outlets, including a food hall.” Time Out Group stated: “Time Out Group notes recent media speculation regarding a potential new Time Out Market in London. Time Out confirms that the company is in negotiations in relation to a potential London market as part of a pipeline of further global locations in the ordinary course of business. The company has not entered into any legally binding arrangements in relation to any London market and there can therefore be no certainty that the current negotiations will result in a subsequent opening. Further announcements will be made as and when appropriate.” In February 2023, Time Out Scrapped plans to build a food market in Spitalfields, east London, following a six-year-long dispute over planning permission with Tower Hamlets Council. At the time, Time Out said the failed proposals, which would have created a venue with 12 permanent kitchens on Commercial Street, cost the business £1m. In March 2021, Time Out abandoned plans to build a food market at London Waterloo due to the impact of the covid-19 pandemic. The group had been planning to open a new market under the former Eurostar platforms at the train station.

Greene King expands training scheme for prisoners: Brewer and retailer Greene King is opening two new kitchens to train up former prisoners to work in hospitality. Building on its first kitchens at HMP Grampian and HMP Thameside, Greene King is opening a new facility at HMP Perth and will open another at HMP Onley next month to train up inmates in replicas of its pub kitchens. The kitchens allow up to 60 inmates every year to train in food preparation, food safety and time management and help “provide prison leavers with the employment and skills they need to build long-term careers in hospitality and successfully rehabilitate”. At HMP Onley in Northamptonshire, the company has created a restaurant-style environment with tables so trainees can learn customer service as well as back-of-house jobs. Greene King launched its Releasing Potential programme in May 2019 to support those leaving prison to find employment with the company following their release from prison. So far Greene King has hired 260 prison leavers through the programme, with the aim of hiring a total of 400 by the end of 2025. Greene King has teams that go into prisons and work alongside the Ministry of Justice and the New Futures Network, a specialist part of the prison service that brokers partnerships between prisons and employers in England and Wales, to identify the right candidates. Greene King chief executive Nick Mackenzie said: “The opening of our two new training kitchens in HMP Onley and HMP Perth is a really important part of our continued commitment to offering opportunities to everybody, regardless of their background. With pubs at the heart of local communities across the country, we are in a unique position to provide a range of jobs nationwide. The new kitchens are a vital next step in our Releasing Potential programme that is helping to provide prison leavers with the employment and skills they need to build long-term careers in hospitality and successfully rehabilitate.” Greene King features in the Premium Club Turnover & Profits Blue Book, which features 994 companies. Greene King’s turnover of £2,375,400,000 for the year ending 31 December 2023 is the fourth highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. 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.

Inception Group founder – ‘end of rates relief will obliterate many businesses’: Charlie Gilkes, founder of London hospitality group Inception Group, has warned the end of business rates relief “will obliterate many businesses and stall future growth for others”. Speaking ahead of the Budget on Wednesday (30 October), Gilkes said: “With the end of business rates relief for hospitality looming, we face a devastating financial burden. The quadrupling of rates will obliterate many businesses and stall future growth for others. While office occupancy is now the highest since the pandemic, helping to boost footfall on our high streets, this momentum is at risk without a sustainable solution. I fully support UKHospitality’s call for a permanent, lower business rates multiplier for our sector—this is the only viable path forward. Any reform must tackle the disproportionate burden hospitality carries compared to other sectors such as online retailers, which chancellor Rachel Reeves’ proposed ‘Amazon tax’ needs to address. However, this alone is not enough. A rebalanced tax structure is essential to protect jobs and keep our communities thriving. 30 October will be last orders for many pubs if action isn't taken.”

Chapel Down abandons sale plans: Britain’s biggest winemaker Chapel Down has abandoned a planned sale after warning over a poor harvest and declining sales. Chapel Down, based in Tenterden, Kent, said it would call off attempts to sell the company after failing to receive a suitable offer. The business, which is backed by the finance tycoon Lord Spencer, kicked off a proposed sale in June as it sought £30m for expansion plans. However, in a statement to investors it said the board had concluded that there were “no transactions” on the table that would “create superior long term shareholder value” compared with remaining listed on the stock market. The company has warned of a weaker harvest caused by difficult weather conditions over recent months, which led to reduced crop yields – although it insisted this would not impact the quality of the wine produced. “Although our vineyards were not impacted as heavily as other regions in England, late season weather has led to some pressure from mildew and consequently reduced yields, given our strict focus on quality,” it said. As a result, its 2024 harvest was expected to come in at about 1,875 tonnes – the equivalent of about 1.7 million bottles – roughly half the 3,811 tonnes in 2023. The smaller harvest, combined with the cost of the strategic review, meant it would book a non-cash charge of up to £850,000 – pushing the company to a loss before tax for the full year. Shares in Chapel Down fell almost 20% on Friday afternoon (25 October) in the wake of the sale about-turn. Its shares are down more than 40% over the past six months. Chapel Down was founded in 2002 and has grown to become England’s largest winemaker. It has been publicly listed since 2003. Former Conservative Party treasurer Lord Spencer holds a 26% stake and acts as a non-executive director for the company. Last month chief executive, Andrew Carter, said he would step down ahead of taking up a new role leading Yorkshire brewer and retailer Timothy Taylor in 2025.