Propel Newsletter Archive Page

Exclusive – KFC franchisee Adil Group to acquire 40-strong former Caskade restaurants estate: KFC franchisee Adil Group will acquire 40 former Caskade restaurants, adding to its portfolio of 73 existing KFC restaurants across the country, Propel has learned. Adil Group has been a KFC franchisee since 2004, when it acquired 11 restaurants from an existing franchisee. It currently operates 73 KFC restaurants across the UK, from Scotland to Cambridge, including the largest KFC drive-thru in the UK, and has played an important role in the fast-food brand’s growth over the last 20 years. The group, which was founded in 1969 when Mohammed Adil opened his first Wimpy restaurant, currently also operates circa 35 Taco Bells and 17 Burger Kings. It is understood that the Caskade business, which was founded in 1984, has been experiencing challenges. Last October, the business reported a “reasonable” trading performance as turnover increased, but profit dropped in the year to 31 December 2022. Turnover was up from £43,889,927 in 2021 to £46,091,254 but its pre-tax profit fell from £4,637,000 to £394,976 as costs rose by almost £3.5m. However, it is thought that Adil Group will be acquiring some strong performing sites in the south of England with real growth potential. A spokesperson for KFC UK & Ireland told Propel: “With its track record and ambitions for sustainable growth, we believe existing KFC franchisee Adil Group is the right long-term partner to take on Caskade’s KFC business. We look forward to continuing working with Adil Group to serve up the nation’s favourite fried chicken and unlock value for our people and the communities we operate in.” KFC remains the leading chicken brand in the UK, currently operating over 1,000 restaurants across the UK and Ireland and employing 27,000 team members. The UK and Ireland remains one of KFC’s strongest international markets, with revenues now close to £2bn. Since 2018, KFC has opened 200 new restaurants across the UK and Ireland and the brand’s ambition is to open a further 500 restaurants across the region by 2030. Adil Group and Caskade both feature in the UK Food & Beverage Franchisee Database, the latest edition of which was sent to Premium Club subscribers last month. The database now has 140 entries and more than 60,000 words of content. 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 a supplier. Email kai.kirkman@propelinfo.com today to sign up.

Industry News:

Lina Stores MD Eadaoin McDonagh to speak at Propel summer conference and party, three free places per company for operators: Eadaoin McDonagh, managing director of Lina Stores, will be among the speakers at the Propel Multi-Club Conference and summer party on Thursday, 5 September, at the DoubleTree by Hilton Oxford Belfry. The all-day conference will focus on “new ideas and directions in an era of strong headwinds” and will be followed in the evening by the summer party, with a barbecue and four hours of live music, including the UK’s best Ed Sheeran Tribute Act, The Ed Sheeran Experience; the UK’s top Robbie Williams and Gary Barlow tribute acts joining forces, Scott Borley and Daniel Hadfield; and the famous house band at Piano Works. McDonagh will discuss how the restaurant and deli concept is leading a new generation of pasta-led operators in redefining the category. For the full speaker schedule, click here. There are up to three free places per company for operators but Premium subscribers can have up to four places. To book, email jo.charity@propelinfo.com. A room can also be booked for the evening. For more details, email jo.charity@propelinfo.com.

Propel’s next Multi-Site Database to be released tomorrow with seven category segmentation including 524 operators from the café and bakery sector: Premium Club members are to receive the next Multi-Site Database tomorrow (Friday, 28 June) at midday. The next Propel Multi-Site Database, produced in association with Virgate, provides details of 3,161 multi-site operators and is now searchable in seven main segments. The database features 927 (29%) operators from the casual dining sector, 771 (24%) pub and bar operators, 524 (17%) cafe bakery operators, 433 (14%) quick service restaurant operators, 254 (8%) hotel operators, 198 (6%) experiential leisure operators and 54 (2%) fine dining operators. The database is updated each month and this edition includes 40 new companies. Premium Club members also receive access to five additional databases: the New Openings Database; 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 Club members will be offered a 20% discount on tickets to Propel paid-for events including Social Media for Profit (18 July), the Talent and Training Conference (1 October) and Restaurant Marketer and Innovator (two days in January 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.

Experience-led businesses contribute £134bn to UK economy, set to grow 2.6% over next three years: Experience-led businesses contribute £134bn to the UK economy, which is projected to grow by an average of 2.6% to reach an estimated contribution of £146bn by 2027, according to modelling from Barclays and the Centre for Economics and Business Research. It said the UK’s “experience economy” encompasses all businesses that provide consumers with unique and memorable experiences such as holidays, live entertainment and sporting events. Much of the growth will be fuelled by rising consumer appetite for experiences, it said, with 90% of the hospitality, leisure and retail businesses who took part in the research saying consumer demand for memorable experiences is growing faster than demand for physical products. A similar proportion (91%) said consumers still prioritise spending on memorable experiences even when money is tight. To capitalise on this behavioural shift, 27% of business said they are launching new products that provide customers with memorable experiences, while those that already have said it resulted in a median average revenue increase of 15%. In the hospitality and leisure sector, 41% are expanding the options for customers to personalise their experience, while 40% are hosting themed events and special nights. It comes as Barclays consumer spend data revealed that annual consumer spending on entertainment and travel has risen by 6.5% and 11.6% respectively year on year. Six in ten consumers said they would rather spend money on a good experience than on buying material possessions, up five percentage points on 2018, and nearly two thirds would rather tell people about something they have experienced rather than something they have bought. However, a fifth of Brits said they have higher expectations of experiences now compared with previous years, and more than a third said they expect better value for money as events cost more than they used to. Rich Robinson, head of hospitality and leisure at Barclays, said: “Brits are increasingly swapping shopping bags for shared moments, and experiences now make a heavyweight contribution to the UK economy as a whole. Yet as experiences become even more central in consumers’ lives, their expectations are set to soar even higher.”

Father’s Day bookings up 44% on last year, NPS in line with Mother’s Day: Father’s Day bookings this year were up 44% on 2023, according to guest feedback service Feed it Back’s Father’s Day Report. This follows a 27% increase from the previous year. Gift card sales were up 56% year-on-year, according to insight from hospitality tech partner Zonal, with a 14% increase compared with Mother’s Day 2024. Net promoter scores (NPS) were also up compared with last year and are now in line with Mother’s Day, showing operators did a better job on the day in 2024. The NPS was driven up by significant improvements in speed of service, the study found – having been the biggest source of frustration in 2023 – but value continues to be a challenge, with ratings there improving at a slower rate. Casual dining and pub dining are the segments that saw the biggest advocacy improvement year-on-year – casual dining leading the way with 38% of volume by segment, followed by all-day dining (22%) and premium casual (18%). Negative aspects included unclear communications and operations teams not delivering on offers, which with demand for offers being strong – especially in value-conscious family groups – there is a risk of damaging the brand. Olivia Fitzgerald, managing director of Feed it Back, said: “Let’s face it, traditionally, we haven’t been as good at looking after dads as mums. But all that’s changing as hospitality ups its game on Father’s Day to close what we’re calling the ‘Happy Dad Gap’. Father’s Day booking levels have grown exponentially in recent years, and promotional activity for Dad’s Big Day has also hugely increased. So, getting it right on the day is a big deal. The great news is that Father’s Day 2024 has seen the hospitality industry deliver increased customer satisfaction, bringing it in line with Mother’s Day this year.”

First Universal theme park in Europe to generate ‘£50bn of economic benefits for UK’: New details have been unveiled for Universal's first UK theme park – including plans for the attraction to be open 365 days a year. Universal Destinations & Experiences plans to build Europe’s largest theme park on land near Bedford with millions of visitors per year, as well as a 500-room hotel and dining area. Sky News reported that Universal’s economic impact analysis suggests the attraction will generate nearly £50bn of economic benefits for the UK. It said the net economic contribution of the potential project for the UK was forecast to be £35.1bn over the construction period and first 20 years of operation. Up to a further £14.1bn was expected to be generated in extra taxes for the exchequer over the same period. The analysis suggests the project will generate 20,000 jobs during the construction period which, at its peak, will see 5,000 workers on the site. Universal has acquired 500 acres for the site, with an option to buy up to a further 200 acres. The new park would have a construction period of around six years. “I can tell you it’s going to be a world-class park with all experiences that people will love based upon the most popular films, video games and stories that people have enjoyed for decades,” said Page Thompson, the company’s president in charge of new ventures. “We’ve spent the last decade looking all over Europe and the UK for locations, and we think this is the best we’ve ever seen.” Universal Destinations & Experiences currently has five theme parks around the world – in the United States, Japan, China and Singapore. Thompson said that over time, she would expect the number of hotels to grow, and that the theme parks will host a whole series of special events, “like Hallowe’en Horror Nights and carnival parties”.

Job of the day: COREcruitment is working with a high-end venue that hosts an array of events and is looking for a music and entertainment manager to join its team. A COREcruitment spokesperson said: “You will be responsible for the daily music programming. Therefore, you need to have extensive knowledge of the music industry and artists, with a keen eye for current trends. Some of the responsibilities will include the booking and management of music artists at the venue; supporting DJs and managing the music for all daily events; supporting the creation of the weekly and monthly music programming; working with design and technical staff to plan each live performance; creating playlists for special shows and events; monitoring record charts, radio playlists, and trends; and more.” The salary is up to £70,000 and the position is based in London. For more information, email marlene@corecruitment.com.

Company News:

Exclusive – Bone Daddies to bring South African concept Kleinsky’s to the UK: Bone Daddies Group – which comprises the eponymous ramen restaurants as well as Shack-Fuyu and Flesh & Buns – is to introduce South African bagel concept Kleinsky’s into the UK, with a debut site set to open in London’s Mayfair, Propel has learned. Opened in 2014 in Cape Town by brothers Adam and Joel Klein, Kleinsky's “blends traditional recipes with the best local ingredients to bring a slice of New York to Cape Town”. The first UK site for the concept will open later this summer at 39 North Audley Street, with a second site already lined up in the City. Bone Daddies managing director Steve Hill said: “We are excited to bring Kleinsky’s to London. It’s a beautiful New York-inspired bagel diner and delicatessen currently operating two sites in Cape Town. The Klein brothers created the concept and know everything there is to know about bagels – it’s a deal that works well for both parties. Kleinsky’s is somewhat of an institution in Cape Town, with our first site in Mayfair and a second coming in the City.” News on Kleinsky’s comes as Hill said that business was “positive” for Bone Daddies Group at the moment “especially on the back of record top and bottom lines”. He told Propel: “While it’s well documented the challenges hospitality faces, we are well positioned to adapt as things hit our radar. The team remains the driving force overcoming any obstacles we face and continues to improve the guest experience. This year we are on track to beat our recently published results and have just brought a fantastic concept to the UK.” Bone Daddies, which currently operates seven sites across the capital under its eponymous core brand, saw revenue in the period from 1 October 2022 to 24 September 2023 (FY23) increase 4.04% to £18,018,894, up from £17,319,850 the previous year. It reported a pre-tax profit of £26,884 in FY23 compared with a loss of £348,378 in FY22, while Ebitda climbed from £779,596 to £950,327 over the period. The group said it is “actively seeking” new sites for its three existing brands to add to its openings pipeline. Describing it as a “record result” for the group, Paul Black, Bone Daddies’ head of finance, said the results represented a “strong year of trading achieved despite significant challenges across the hospitality industry”. During the period, the group opened a new Bone Daddies site in London’s Leicester Square.

Coffi Lab – our sites are busier than ever with ‘double-digit comparable store sales growth’: Coffi Lab, the dog-friendly coffee shop concept that was launched in 2021 by Coffee#1 founder James Shapland, has told Propel that its sites “are busier than ever, with double digit comparable store sales growth”, as it closes in on two additions to its opening pipeline. Shapland told Propel that the nine-strong business is “performing very well”. He said: “The integration of the Coffi Lab Bakery and Roastery has been a highlight of the last six months. We now feel confident that our values are aligned across all areas of our customer experience. Our ‘Labs’ are busier than ever, with double digit comparable store sales growth. We have several exciting openings planned over the next 12 months. It’s nice to have ‘Labs’ ten and 11 in legals before we turn three years old.” Last November, Propel revealed that the business, which operates seven sites in Wales plus sites in Marlborough and Portishead, had reached the £5m turnover mark. Shapland, who previously founded Coffee#1 in 2000 before selling it 11 years later to SA Brain, also told Propel he has a long-term target of 50 Coffi Labs over the next five years.

Sky News – F1 Arcade close to completing £100m financing round to aid expansion: F1 Arcade, the Formula 1-licenced experiential brand from Kindred Concepts, is close to completing a £100m debt raise to fund its expansion in a financing round backed by the sport’s owner. Sky News reported that F1 Arcade is close to finalising the new debt facility with Liberty Media, the British challenger bank OakNorth and Cheyne, an investment fund. Propel revealed last month that F1 Arcade, which recently opened its debut US site in Boston Seaport, was working with advisors Houlihan Lokey on the debt raise as it looks to open 30 locations globally by the end of 2027 – including further openings in the US and UK, as well as in Australia, Europe, the Far East and the Middle East. City sources said on Wednesday (26 June) that the deal was expected to be completed within the next week. One banking source said F1 Arcade was now valued at about £200m. The brand, from Puttshack and Flight Club co-founder Adam Breeden, launched in London’s St Paul’s in November 2022, followed by a second site, in Birmingham’s Paradise Estate, in November 2023. A second US site is due to open in Washington DC’s Union Market District this autumn. In June last year, Kindred Concepts secured £30m of new funding to fuel its next phase of its international growth. It has also recently partnered with York-based consultancy The Franchising Centre to find potential international partners. Last year’s fundraising was led by Liberty Media and Formula 1, with participation from sector-focused investment firm Imbiba. There was also support from names across the F1 paddock, including McLaren Racing chief executive Zak Brown and Formula 1 drivers Lando Norris and Logan Sargeant.

Anglian Country Inns sees like-for-like sales up 3% at start of new financial year: Gastro-pub operator Anglian Country Inns (ACI), led by James Nye, has seen like-for-like sales increase 3% in the first few months of its new financial year. The company, which this week opened its tenth site, is also “looking for other opportunities to grow the business”. Nye told Propel: “Considering we didn’t have Easter this financial year [which began in April] and the dismal weather, we have been trading at 3% up on a like-for-like basis, which is encouraging. The recent sunshine has certainly had a very positive impact on trade. We are focusing on getting the new site up and running at the moment and looking for other opportunities to grow the business.” The company has relaunched the White Horse in Holme-next-the-Sea in north Norfolk for its tenth site. The grade II-listed pub, which ACI acquired the freehold of in October last year, has been refurbished and offers 70 covers.

Prezzo launches breakfast offer: Prezzo, the Cain International-backed Italian dining group, has launched a breakfast offer in just under a third of its estate following a successful trial in the circa 95-strong brand’s King’s Cross site. The offer, which will generally be available from 9am to midday, has been rolled out to 25 further sites across the UK. The Dean Challenger-led business will roll out the offer to tourist-focused sites over the summer, such as Torquay and Bournemouth, and others before the end of the year. The company said: “The pizzulata is our signature product supported by Italian twists on the English breakfast, meaning diners can enjoy the bringing together of Italy’s favourite dish and a traditional English breakfast.” Each pizzulata is filled with ricotta, rocket and house Calabrese ketchup, with diners able to choose fillings from a range of options including egg, bacon, sausage, avocado and ricotta. There will also be sweeter options such as banana, ricotta and Nutella. Also on offer will be the Full Italiano and kids’ Bambini Breakfast range. Olly Smith, chief culinary and brand officer at Prezzo said: “With our mission to share the joy of Italian dining, we were inspired to bring together Italian breakfast – consisting of espressos and plenty of conversation – with traditional British breakfast staples, and pizzulatas are a great example of that.” Restaurants serving up breakfast are: St Martins Lane, Glasshouse Street, Euston, Northumberland Avenue, Kings Cross New Brighton, Cheshire Oaks, Milton Keynes, Hinckley, Lincoln, Gainsborough, Huntington (York), Lakeside, Romsey, Eastleigh, Canterbury, Thame, Cambridge, Bury St Edmunds, Street, Salisbury, Bath, Exmouth, Glasgow and Mumbles.

Isabel Mayfair launches first overseas site as part of ‘ambitious expansion plans’: Isabel Mayfair, the Mediterranean restaurant in London’s Albemarle Street, has launched its first overseas site as part of its “ambitious expansion plans”. The brand, led by chief executive Scottie Bhattarai, will this summer open its first global outpost in Riyadh, Saudi Arabia. Bhattarai, who joined Isabel Mayfair in 2017, said: “This is an incredibly exciting chapter for the Isabel Mayfair team as we look to bring our brand to new global markets. We’ve seen incredible demand for our unique restaurant and bar offering, especially from a globally connected, international audience seeking luxury dining experiences. We intend to continue the spirit of Isabel Mayfair in new territories, bringing our unique vibe of warm and stylish Mediterranean dining, interpreted with modern European elegance.” Bhattarai – who was previously operations director at Petersham Nurseries, a partner and director at The Columbo Group’s flagship site Paradise by Way of Kensal Green site and restaurant director for Soho House Group’s – launched solo restaurant venture Maya in Manchester earlier this year.

Creams co-founder to open second site and first franchise location for his new seafood concept next month: Creams co-founder Balil Aqil will open the second site and first franchise location for his new seafood concept next month. Aqil, who co-founded Creams in 2008 and grew it to more than 100 sites before selling his shareholding in 2021, founded Shrimp Shack last year with Danny Caratella, Rish Gola and Raf Adam. Shrimp Shack’s debut site opened in December in Streatham, south London, which has seen weekly revenues week-on-week 66% above the original forecast. The founders are now set to double up with a launch in Unit 2 at 10 Jamestown Road in Camden, north London, in July through its first franchise partner, Bluewater Wealth Management, run by Dubai based property investor Mussa Patel. Danny Caratella, managing director at Shrimp Shack, said: “We knew the Shrimp Shack concept would be a success, but the way people have embraced our vision, concept and food has been incredible. Following this, we wanted to open a second location so we could bring our bold and interesting flavours to more people, and Camden felt like the perfect fit. With Balal coming from Creams Café, which in itself is an incredible case study for the franchise model. This was always the aim for Shrimp Shack. We wanted to run the Streatham location ourselves in order to get under the skin of the business and understand what works, what doesn’t, and the customers, however embedding the franchise model into Shrimp Shack from essentially the beginning will be, with think, one of the foundations for success. This is just the beginning, and we have our sights firmly set on expansion through franchise partnership into different areas in London and other major UK cities in the future.” While the concept’s menu showcases all things shrimp, it also offers serve a range of alternative fish, meat and vegetarian options. Aqil told Propel last month that he can see Shrimp Shack eventually growing even bigger than Creams and that he is targeting 50-70 stores within five years. He added that he intends to grow into the Home Counties first ahead of wider UK expansion, and will be opening further equity stores alongside growing a network of franchisees.

The Ivy Collection to invest £8m on Belfast opening, to include an Ivy Asia: The Ivy Collection, the Richard Caring-backed restaurant brand, is set to invest £8m on an opening in Belfast, which will include an Ivy Asia. The group has begun the fit out part of the former Cleaver House building at Donegall Place. The Belfast Telegraph reported that around 70 new jobs will be created at the new restaurant as part of an overall £8m investment. The Ivy Brasserie will be located on the ground floor of the site and will seat approximately 108 people, with the bar seating area having space for 21, while the first floor will become The Ivy Asia. It’s understood the restaurant could be open in time for Christmas. It was reported earlier this month Caring is set to sell his entire stake in The Ivy Collection to a mystery buyer as sovereign wealth funds from Abu Dhabi and Saudi Arabia miss out on the business. The Times reported The Abu Dhabi Investment Authority, where Manchester City owner Sheikh Mansour is a director, is understood to have bid £700m for Caring’s Troia group of restaurants, according to City sources. Saudi Arabia’s $700bn (£550bn) Public Investment Fund, which owns fellow Premier League football club Newcastle United, was also in the running – but has since dropped out, they added. Generating £55m of annual earnings, Caring was seeking £1bn for the business with sources close to the sale pointing out the strength of the Ivy brand and the potential to open 30 more Ivy restaurants in the UK and more overseas.

Trust Inns acquires Surrey pub: Trust Inns, which is owned by the family interests of the late Trevor Hemmings, has acquired The White Hart pub in Tongham, Surrey. The property is listed as an asset of community value and will remain a tenanted pub under Trust Inns’ ownership. A spokesperson for Trust Inns said: “We are delighted with the acquisition of the White Hart, which fits neatly within our diversely located and segmented portfolio across the UK, and as an independently owned company, we will continue to buy quality inns and pubs.” Richard Wood, regional director – pubs and restaurants south at Christie & Co, who acted on the deal, added: “The pub’s proximity to the nearby Hogs Back Brewery and a new residential Bellway development promises growth in the local customer base over the coming years, and we have no doubt Trust Inns will ensure the pub prospers while remaining at the heart of the local community for many years to come.”

Old Spike Roastery opens seventh site: Social enterprise Old Spike Roastery has opened a seventh site in the capital, near London Bridge. The business has taken space in The Shard, serving coffee to the 32 companies that occupy offices over the building’s 28 floors. Last month, the business told Propel it will need to look at investment later this year in order to continue its growth trajectory. The company was founded in 2014 by Richard Robinson and Cemal Ezal, who went on to found fellow coffee social enterprise, Change Please. “For now, all new sites will be in London, with a focus and central London locations,” Robinson told Propel of its future growth plans. “This has all been self-funded to date, but we will need to look at investment in the fourth quarter this year to continue the growth trajectory.”

Shepherd Neame CEO – opening of new Champagne Taittinger winery will make Kent ‘one of the most exciting parts of wine making in the world’: Shepherd Neame chief executive Jonathan Neame has said the forthcoming opening of Champagne Taittinger’s new winery in Chilham will make Kent “one of the most exciting parts of wine making in the world”. The global champagne firm will this summer open state-of-the-art winery Domaine Evremond in the Kent village. Champagne Taittinger has already planted more than 100 acres of vineyard in Chilham. “With Domaine Evremond opening soon, this is going to make this part of Kent one of the most exciting parts of wine making in the world,” Neame said. He was speaking at the reopening of Shepherd Neame’s Woolpack Inn in the village, following a six-month refurbishment from licensees Gordon and Sharon Thompson – with Pierre-Emmanuel Taittinger, honorary chairman of Champagne Taittinger, guest of honour at the relaunch. The Thompson also run three other Shepherd Neame sites – The Abbey Hotel in Battle, with son Charles Thompson and wife Kate; The Castle Hotel in Eynsford, with daughter Elizabeth Thompson and fiancé Jacob Harper; and The White Horse Inn in Maldon, run by Gordon’s brother Malcolm and wife Kristi. Neame added: “With Sharon and Gordon and their family, this is the epitome of how the tenancy partnership with Shepherd Neame works. We are proud and lucky to have them as Shepherd Neame licensees, as they take such pride and care over each one of their businesses.”

Hotel operator Kabannas acquires first Scottish site: Hotel operator Kabannas has acquired its first Scottish site. Kabbanas was founded in 2023 and entered the market with the acquisition of three former Youth Hostel Association properties – in Newcastle, Liverpool and London’s St Pancras. It has now bought Edinburgh’s Hayweight House, at 24 Lauriston Street, from Scottish Action for Mental Health for circa £5m, with plans to develop it into a hybrid hotel. Whitebridge Ventures – which deals in acquisition, development and asset management for the hotel and micro accommodation sector – is behind Kabannas. Peter Fleming, director at property consultants Graham + Sibbald, which acted on the sale, said: “It is great to see Hayweight House sold to Kabannas. Entering a new location and bringing something new to Edinburgh’s market, we look forward to seeing the redevelopment of the building into a hotel and wish them the best.”

Chopstix adds to Essex estate: Fast-growing, quick service restaurant brand Chopstix has opened its fourth site in Essex, in Basildon. The new 52-seat site in the Eastgate Shopping Centre follows successful openings in Lakeside, Romford and Ilford for the brand. Basildon marks the company’s fifth equity opening of 2024, in addition to a number of sites opened with new and existing franchise partners, including Haven and Welcome Break. The company said that with more than 175 Chopstix Group sites across the UK, it boasts a strong pipeline of new sites, through both company operated and franchise ownership models. Jon Lake, managing director at Chopstix, said: “We’ve been keen to grow our presence in Essex for some time, so we’re delighted to open in Basildon, and Eastgate was the perfect location as the brand continues to show up well in shopping centres.”

Cambridgeshire café concept closes crowdfunding campaign after raising more than £180,000 to support expansion: Stir, the Cambridgeshire cafe and bakery concept, has closed its crowdfunding campaign after raising more than £180,000 as it looks to add to its five-strong estate. The business, which was launched by husband-and-wife team Judith and Matt Harrison in 2015, was looking to raise £100,019, with a pre-money valuation of £3.2m. The campaign on Seedrs has now closed with £181,760 raised from 76 investors. Since its launch, Stir has grown to five outlets – two in Chesterton, plus sites in Histon, Fulbourn and Green Street, Cambridge – and a large-scale craft bakery unit, growing more than 50% over the last 18 months and delivering diversified revenue streams in excess of £3m per annum. Stir plans to use the new funding to open more sites, launch an e-commerce platform and expand its wholesale capabilities. The company said: “Our mission remains the same: to bring our simple yet brilliantly executed offering of bakery delights, brunch favourites, and premium coffee to neighbourhoods across Cambridgeshire.”

Market Taverns adds Nigel Parson to board: Consumer analyst Nigel Parson has been appointed as a director of Market Taverns as the London-based pub company continues to strengthen its board. The 14-strong Market Taverns said that Parson brings a wealth of expertise, with his combination of business and City experience. He began his career with Grand Metropolitan, running tenanted pubs in London, and spent 14 years in operations, marketing and strategy before moving to the City as a brewing and alcoholic drinks analyst at Charterhouse Tilney Securities. He then joined WestLB Panmure, where he led the consumer team delivering a pan-European consumer strategy. More latterly, he held director positions with Canaccord and finnCap, and he currently acts as consultant analyst at Cavendish. Market Taverns owner Rolf Munding said: “Nigel joins the board at an exciting time as we look to grow the Market Taverns estate. His rare combination of hands-on licenced trade and City experience brings a combination of expertise, knowledge and insight to the board. We look forward to working with him in his new role.” Parson’s appointment follows the recent appointment of Suzanne Baker, formerly of JD Wetherspoon and current director at Stonegate Group, as a non-executive director.

Multiple operators take on third pub with Greene King: Multiple operators Lisa Salter and Lee Montgomery have taken on their third pub with Greene King Pub Partners, the leased, tenanted and franchise division of Greene King. The pair will reopen The Swan, previously known as The Anthology, in Wilmslow, Cheshire, after a joint £170,000 investment with the pub group. The Swan Inn, which has been renamed as a nod to the site’s history as The Swan Hotel and its location in Swan Street, has had an upgrade to the main bar as well as a new booth seating area. Outside, what was the pub’s beer terrace has been transformed into a full beer garden, providing an extra 40 covers, along with booth seating and TVs. Salter and Montgomery opened their first pub in partnership with Greene King Pub Partners in 2018 and also operate The Dog & Partridge in Didsbury and The Crown in Heaton Moor in partnership with Greene King. Dan Robinson, managing director of Greene King Pub Partners, said: “I’m delighted to continue our successful partnership with Lisa and Lee as we help them to grow their pub business. The £170,000 investment in The Swan Inn will enable them to deliver their vision for the pub and I look forward to more success with them in the future.”

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