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Morning Briefing for pub, restaurant and food wervice operators

Mon 21st Oct 2024 - Propel Monday News Briefing

Story of the Day:

Hospitality bosses call for business rates action at the budget: A 170-strong cohort of business leaders from across the industry have backed UKHospitality's call for a lower level of business rates for the sector. In an open letter to the chancellor Rachel Reeves, the chief executives of Britain's most well-known and biggest pub groups – Fuller's, Greene King, JD Wetherspoons, Stonegate Group and Young's Pubs – have backed the call, alongside the bosses of high street staples like Burger King, Caffe Nero, IHG Hotels, KFC and Pizza Pilgrims. UKHospitality said that the sector has united behind the need for action to avert business rates bills quadrupling in April, if current relief ends as planned on 31 March 2025. It said that inaction would cost the sector £914m in additional rates bills. The letter says: “This Budget is the last chance to prevent bills quadrupling for high streets across the country. We are asking you to grasp this opportunity to deliver your manifesto commitment to fix business rates, and protect businesses. We propose that your government introduces a new lower, permanent and universal multiplier for the hospitality sector, to be adopted across all nations of the UK. All hospitality businesses should benefit from that multiplier, removing the cap that has acted as a disincentive to growth as employers decide that opening a second premises is simply not worth the cost.” Kate Nicholls, chief executive of UKHospitality, said: “This 170-strong cohort of business leaders across hospitality shows just how important addressing business rates is at the Budget. Inaction will lead to bills quadrupling and more venues shutting their doors for good, which will rob our towns and cities of vital community hubs. Further closures will be so detrimental to the government's growth agenda and put a dent in our sector's ability to create places where people want to live, work and invest. If we don't want to lose out on vital investment, job creation and regeneration of our high streets, then the chancellor needs to act to introduce a lower level of business rates for hospitality at the Budget.”
 

Industry News:

Next Who's Who of UK Hospitality to be released on Friday featuring 873 companies: The next Who’s Who of UK Hospitality will be released to Premium Club members on Friday (25 October), at midday. Another 20 companies have been added to the database, which now features 873 companies. This month’s edition will also include 101 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, 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 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.

Houlihan Lokey – The North American experiential leisure market is undergoing significant transformation and growth: The North American experiential leisure market is undergoing significant transformation and growth, according to Teddy Shaw, managing director of Houlihan Lokey's out-of-home entertainment practice. And while UK-based companies are making their mark, the US market is far from stagnant, with numerous homegrown innovators driving the sector forward, Writing in Propel Premium, Shaw said: “Historically, the entire out-of-home entertainment sector, not just in North America but globally, has been slow to innovate. Until recently, the experience at a local family entertainment centre or regional theme park was remarkably similar to what it was decades ago. Companies like Chuck E Cheese were still using paper tickets for arcade rewards as recently as five years ago (and tremendous credit to David McKillips and the team at CEC Entertainment for all the impressive updates to their business, which today looks nothing like it did before his arrival). This reflects an industry-wide sluggishness in adopting new technologies. However, things are changing. Innovations such as game cards, cashless systems and player tracking have become more common, signalling a shift towards a more technologically advanced and user-friendly landscape. While UK-based companies are making their mark, the US market is far from stagnant, with numerous homegrown innovators driving the sector forward.” Shaw said that the potential for further consolidation, particularly in the “eatertainment” space, is high. He said: “Many smaller operators are currently struggling to sustain and grow profitability independently, but through strategic combinations, these companies could benefit from cost synergies and increased purchasing power. This consolidation could also provide revenue synergies by allowing companies to cross-promote their brands and cater to a wider demographic, from value-driven consumers to those seeking premium experiences. As we navigate this dynamic landscape, the key for operators and investors alike will be ensuring long-term repeatability and value for consumers while balancing the challenges of inflation and market fragmentation.” 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.

‘Right sizing’ of competitive socialising landscape predicted after initial ‘gold rush’: Tim Wilks, founder of boutique bowling company Lane7, has predicted that the UK’s competitive socialising sector will see “a right sizing” in some of the busiest cities. Talking to the FT, Wilks said this will see some of the stronger players considering taking some of the smaller brands into their wider estates. Previously, there was a bit of a gold rush, as people looked around for any activity that could be combined with food and some alcohol, according to Swingers co-founder Matt Grech-Smith. But some activities “don’t sit well with alcohol and socialising”, he said. Grech-Smith said almost 40% of its business came from corporate bookings. “There’s a great priority on convening teams and companies together for social events, because they're not socialising the office, with many employees working from home since covid,” said Grech-Smith. “It used to be more acceptable for everyone to go to a happy hour and have a load of drinks. Now, companies can't be seen to be doing that in the same way.” Wilks said it was much easier to find sites now, compared with before the pandemic, which had a domino effect after department stores and shopping centres closed. “That really meant that landlords needed to fill a lot of large square footage units and we were a great option for that,” he said. “We definitely saw the market change.” At the same time, Callum McKinnon, co-founder of cricket concept Sixes said London was “like the Silicon Valley of social entertainment – you have all these American private equity firms coming over to check out all the new concepts.” Lane7 hires new marketing director – see Company News. A new report has been produced by Propel on the fast-growing experiential leisure sector. 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 to Premium Club members. Companies can now have an unlimited number of people receive access to Propel Premium 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.

Sir Tim Martin – our particular style is the melting pot, selling a million coffees and teas a week: Sir Tim Martin has said that part of the attraction of JD Wetherspoon pubs is them being a “melting pot”, which appeals to a “a large percentage of the population”.  Sir Tim, who visits at least ten of his sites a week to check the standards, told The Telegraph: “I’m a pub-goer myself. The pubs I liked in my youth have been like ours, albeit smaller. Like the Nobody’s Inn in Doddiscombsleigh in Devon – no music, old pub, lots of real ale and a wide distribution of customers. That’s what people liked about those pubs, they were melting pots.” Decades ago, when he entered the trade, Martin said “brand segmentation” was all the rage among marketeers. “Irish pubs, pubs for women, disco pubs, splitting things up like that,” he said. “It has some appeal, and is legitimate, but our particular style is the melting pot, and a large percentage of the population appeals to that. They don’t want to hang out exclusively with people like them, they’d rather go somewhere where most of society is present at one time or another. We’re not really a brand. We give pubs individual names and try to highlight the past and the building and the area, rather than the McDonald’s or Tesco approach – which I’m not criticising, we’ve just gone down the individualism route.” A future in which people don’t drink as much alcohol has also already been mitigated. “Our biggest single draught product is Pepsi, I’m almost ashamed to say,” Martin said. “But even bigger than that is Lavazza coffee. We’re selling a million coffees and teas a week, so we’re up there with some of the big coffee shop chains now.”

Jeremy King – the ‘gamble’ to return to ‘restaurateuring’ is look eminently sensible: Jeremy King, the co-founder of Corbin & King and doyenne of London’s dining scene, has said that his ‘gamble’ to return to the capital’s restaurant scene is “beginning to look eminently sensible rather than possibly reckless”. King returned to the capital’s dining scene earlier this year with the opening of The Arlington in the former Le Caprice site in London’s West End. He followed this with the launch of the New York-inspired grand café called The Park in Bayswater, and he is also set to take on Simpson’s in the Strand. King said: “As I embarked on my return to the green baize of restaurateuring, there was naturally apprehension on my part as to whether this was going to be a good gamble or not. And yet, so far, Hermes, the God of Gambling, has been kind to me and is making my instinct look much more rational and pragmatic then it did at the start of the year. And the gamble is beginning to look eminently sensible rather than possibly reckless. It is true that if these things were always sure-fired then wouldn't everyone do it? Having Robert Holland (ex-operations director at Corbin & King) back beside me is a massive fillip and we are now building and consolidating, and I am actually having fun. Rob and I were always worried that the delays in being able to open The Park would mean we were unable to build a sufficient head of steam before the onset of summer. To a degree, we were right, but have actually enjoyed a good first three months and are now experiencing a very positive post-summer growth spurt. Breakfast still has a way to go during the week, but just as we experienced at The Wolseley and The Delaunay, the numbers are increasing every week. Not a day passes without me being asked several times when Simpson’s is opening. We still haven't taken the keys yet, but we are very close, and I am hoping that, barring further setbacks, we will have the keys by the end of the month or soon after. Then it will be full speed ahead with the expectation of a May opening, I should mention here that I also get asked a lot whether there is opportunity for investment, and as we are aiming to fund through individuals rather than big institutions, there is still some availability for funding.”

BrewDog co-founder – the proposed hike in capital gains tax will be devastating for entrepreneurship: James Watt, co-founder of Scottish brewer and retailer BrewDog, has said that a proposed hike in capital gains tax will be devastating not only for entrepreneurship, but for the UK's national finances. Watt said: “An increase in capital gains tax will spark a mass exodus of our builders, our job creators and our wealth creators. Norway recently introduced a wealth tax increase, designed to increase tax revenue. Instead, individuals worth $54bn left the country leading to a net tax loss of $594m, not to mention all the other lost economic growth benefits Norway lost as these individuals left. Entrepreneurs and founders are the people who provide the bulk of the employment in the UK. These founders put their own capital at risk, they make huge sacrifices, they often work seven days a week, they often have a very low salary (for the first eight years of BrewDog I paid myself £450 per month), they pay lots of tax along the way, all while living with the very real prospect of failure – indeed, 95% of UK businesses fail within the first five years. If building a business is taxed like income, fewer people will take that leap and fewer jobs will be created. This tax hike won’t grow the tax base, it will shrink it. People will leave the UK. People will hold assets (thus no taxable events). People will be far less inclined to start businesses. The result? Less corporation tax, less income tax and less investment in the UK at a time when we desperately need it. I’m writing this out of concern for the future of our country, not myself. Over the last decade, I've gladly paid over £500m in taxes. But what I do have an issue with is a government proposal that will choke economic growth and make the UK a less attractive place to invest, build businesses and create jobs."

Job of the day: COREcruitment is working with an award-winning and established bottled and canned water company with a global presence that is seeking a national account controller to drive growth within the on-trade and in the UK. A COREcruitment spokesperson said: “The ideal national account controller will have experience growing international businesses in the UK and be able to gain market share in the national groups.” The salary is up to £85,000 and is a remote position. For more information, email mark@corecruitment.com.
 

Company News:

Auntie Anne's exploring more travel hub opportunities after making train station debut, six more stores to open this year: Pretzel brand Auntie Anne’s has told Propel it is exploring further travel hub opportunities after making train station debut and is opening six more stores this year. Propel revealed last week that the US brand, which is being rolled out here by Buckinghamshire-based master franchisee Freshly Baked, will tomorrow (Tuesday, 22 October) open its first travel hub location, at Brighton station. It will be a 39th UK site overall for Auntie Anne’s, which was founded in 1988 and has grown to more than 1,800 locations in 25 countries. “We're thrilled to bring Auntie Anne’s to Brighton railway station, offering delicious, fresh snacks on the go,” Freshly Baked managing director Max Burton told Propel. “This move reflects our commitment to being where our customers are, the first of many steps as we explore new opportunities in travel hubs across the UK and Ireland.” Having opened two stores in Walthamstow and one each in Watford, Romford and Bexleyheath in recent months, Burton said six further Auntie Anne’s stores are set to open by the end of the year, as it closes in on 50 UK sites. As previously reported, the brand is aiming to open 100 new stores across the UK and Ireland over the next decade, having earlier this year extended its franchise agreement with Freshly Baked by ten years. “We are extremely proud to be in a phase of incredible growth with a vibrant updated look, world-class marketing campaigns, and a strategy to open 100 new stores by 2034,” Burton added. “Our sales continue to rise annually, reflecting growing demand and love for our product. This exciting journey is an opportunity to introduce more people to the experience of an Auntie Anne’s pretzel – handcrafted and freshly baked, using only high-quality, natural ingredients, with a commitment to exceptional taste.” Freshly Baked also this year became the UK master franchisee for Dutch better burger brand Fat Phill’s, which is due to make its UK debut with a site in Clapham, south London.

Exclusive – Boparan Restaurant Group to open flagship Slim Chickens site in Leicester Square: Boparan Restaurant Group (BRG), the owner of the Gourmet Burger Kitchen, Carluccio's and Giraffe brands, is set to open an international flagship site for the Slim Chickens brand, in London's Leicester Square, Propel has learned. The business, which first introduced the US brand Slim Chickens into the UK in 2018 with an opening in St James Street, Marylebone, is understood to have secured the former Maison Du Mezze site in Leicester Square. BRG has grown the US brand into a circa 55-strong business in the UK through a mixture of company-owned and franchised openings. Earlier this month, Slim Chickens franchisee KK Restaurants opened the brand's first UK drive-thru, and its first outside the States, in Lisburn, Northern Ireland. BRG has also introduced the brand into Germany this year, and recently penned a deal to launch Slim Chickens in Poland. It also recently revealed to Propel that it has a 24-month development pipeline for Slim Chickens in the UK. Slim Chickens, which was founded in Fayetteville, Arkansas in 2003, currently operates circa 200 sites in the US. Brandon Elmon, of Genius1 Group, acted on the Leicester Square deal.

BGF runs rule over Blacklock:  The Business Growth Fund (BGF) is in talks to take a stake in skinny chops concept Blacklock. Propel understands that BGF, which backs the likes of Mission Mars, Arc Inspirations and Giggling Squid, is running the rule over the six-strong, Gordon Ker-led business as it looks to expand further in the UK. The business, which counts serial sector investor Paul Campbell as a shareholder, was founded by Ker in London’s Soho in 2015. It followed this with openings in the City (2017), Shoreditch (2018) and Covent Garden (2022). The company, which became B-Corp certified last October, opened its latest site in the capital last summer, in Canary Wharf. At 4,000 square feet and with 120 covers, the opening was Blacklock’s biggest restaurant yet. The business recently made its regional debut in Manchester, with an opening in the grade II-listed Freetrade Exchange building at 37 Peter Street. The new 115-seat restaurant has taken the lower ground space of Harvester House, which dates to the Victorian era and was formerly home to a textile merchant. Propel understands that the business has been working with advisors BDO on its funding options. Blacklock, BGF and BDO declined to comment.

Yorkshire KFC franchisee turnover passes £100m for first time: Yorkshire KFC franchisee Fieldrose, which also operates Taco Bell, Costa Coffee and Dunkin' stores, saw its turnover pass £100m for the first time in the year ending 31 December 2023. The Sheffield-based company, one of several operating under the banner of QFM Group, reported turnover of £109,606,037 for the year, up from £98,430,026 in 2022. But its pre-tax loss widened from £3,625,215 in 2022 to £6,991,936 as costs rose by more than £7m and administrative expenses by more than £5m. Exceptional items were reported of £1,869,011 relating to intercompany debt waived to several subsidiaries (2022: £2,335,929). Staff numbers fell from an average of 2,993 in 2022 to 2,594. No dividends were paid (2022: nil). "Turnover increased by 11.4% on the prior year, however 11.6% of the growth relates to new stores, while -1.3% relates to stores closed during the year," said director Bharat Patel. "The like for like sales growth on stores open throughout the year was 13.3%. The main reason for this is the increase in prices of products to counteract the inflation of costs brought about due to the cost-of-living crisis. The group has continued to invest heavily in new stores throughout the year with 13 (2022: 20) new stores opening across four (2022: four) brands. The group has not passed on all increases in costs to customers during the period of economic upheaval and this has resulted in an increase in the operating loss for the year. Purchases, direct costs and labour represented 64.6% of turnover (2022: 64.3%), with labour representing 26.1% (2022: 26.3%) of turnover. The group continues to invest heavily in technology and store refurbishments to drive sales, as well as improved automation of information technology, to ensure that results are communicated accurately and in real time, thus allowing operators to take quick and decisive action when required. The directors continue to look at potential options for further development either within existing stores or by identifying new sites."

Coke gets high on Costa cash: Coca-Cola has raked in more than a quarter of a billion pounds from Costa Coffee since buying the chain five years ago, despite racking up millions in losses. The Sunday Times reports that the US fizzy drinks maker has extracted the dividends since it bought Costa from the FTSE 100 hospitality company Whitbread in a £3.9bn deal, corporate filings show. Costa’s outlets have made an aggregate pre-tax loss of £23m over the same period. Costa Limited, which excludes the chain’s lucrative self-service machine operation, also benefited from an £11m aggregate tax credit and received £70m in furlough payments from the Treasury during the pandemic. A Costa spokesman said the dividends related to current and prior year’s earnings and were part of its “global cash management strategy” which does not affect day-to-day operations. Costa is the UK’s largest coffee chain, operating 2,677 stores and 14,200 self-service Costa Express machines. The company has a further 1,400 stores in 50 other countries.

Gordon Ramsay Restaurants hires new FD and marketing director: Gordon Ramsay Restaurants has hired Jacob Jull and Jay James as its new finance director and marketing director, respectively, Propel has learned. Jull joins the business after three and half years at retailer Liberty, including the past 15 months as its head of group commercial finance. Previous to that, he spent more than four years at The Entertainer, half of which as its financial controller. James joins the business after two years as marketing director at Rosa's Thai. She also spent three years at Prezzo as its director of marketing and communications. She was also at Pret A Manger for three years, including three years as its head of communications. Next February, chef Gordon Ramsay will open five new restaurants and bars at the top of 22 Bishopsgate, UK's tallest office building, in the City of London. The 60th floor of the building will have a 12-seat chef's table called High, run by the team from Ramsay's three-Michelin-starred Chelsea restaurant, Restaurant Gordon Ramsay. There will also be a Lucky Cat restaurant, a Lucky Cat terrace bar on top floor with a Japanese garden and a Bread Street Kitchen on the 59th floor below. The chef is also opening a cookery school, The Gordon Ramsay Academy, in the building. In a recent interview with the Robb Report, Ramsay gave some more detail about the thought process behind getting involved in the development. “The first time walking through that building was just breathtaking,” he said. “I could see as far as Oxford. There were helicopters below us, the Gherkin was below us, and I saw an opportunity like no tomorrow. We started off on the extreme left-hand side, overlooking Tower Bridge, with Gordon Ramsay High. There's this 12-seat table that has just the best view in the world, and an open-plan kitchen. You’ll arrive, mingle with the chefs, see the canapés put together, and it’s live...That experience is going to go on for three to three and a half hours.”

Lane7 hires Gabriele Tomlinson as new marketing director: Boutique bowling company Lane7 has hired Gabriele Tomlinson (née Barysaite), formerly of The Restaurant Group (TRG) and D&D London, as its new marketing director, Propel has learned. Tomlinson joins Lane7 after 15 months as marketing director at D&D London. Prior to that, she spent a year and a half as head of brand marketing at Hawksmoor. She also spent nearly three years at TRG as a senior brand and partnership manager, and five years at PizzaExpress, including three as a national marketing manager. She said: “As consumers increasingly seek out immersive entertainment options, Lane7 is perfectly positioned to expand its footprint. I look forward to driving our brand strategy and bringing the Lane7 experience to new markets across the country and beyond.” Gavin Hughes, managing director of Lane7, added: “This is an exciting juncture for the business as we embark on a period of rapid expansion both in the UK and Europe. Gabby’s experience in premium hospitality and digital transformation is exactly what we have been looking for and we are excited to welcome her to our team.” The 17-strong business recently opened its debut international site, at the Playce in Berlin, and its second site in London, in Camden. It has openings lined up in Cambridge, Reading, Lincoln, Milton Keynes, Dublin and two in its home city of Newcastle.

EL&N makes debut in India: Cafe and lifestyle brand EL&N has made its debut in India, with an opening in Mumbai. The business, which signed a franchise partnership with retail conglomerate Reliance Brands last year to launch in India, has opened a site at Jio World Plaza, in Mumbai's Bandra-Kurla Complex. Alexandra Miller, founder of EL&N, said: “We are thrilled to open our doors at Jio World Plaza and introduce our brand to an exciting new market in partnership with Reliance Brands. This new concept brings our signature style to life in a fun and engaging way, making it the perfect destination for families, specialty coffee lovers and those looking for an unforgettable dining experience in a beautiful setting,” Founded in London in 2017, EL&N operates 37 stores across 14 markets. Reliance Brands currently operates 19 Pret A Manger stores in India, including a site at Jio World Plaza. A Reliance Brands spokesperson added: “India’s evolving dining scene is driven by an ever-growing curiosity for new flavours, experiences and visual aesthetics. EL&N's blend of innovative culinary artistry and immersive design perfectly complements the adventurous spirit of the sophisticated Indian consumer.”

Peter Prescott part of team behind new all-day restaurant in London's Mayfair: Peter Prescott, who founded the former Prescott & Conran restaurant group with Sir Terence and Lady Conran, is a director of a new all-day restaurant in London's Mayfair. Prescott, who has most recently been chief executive of a property development company specialising in the hospitality and retail sector – spending two years developing the Pantechnicon in Belgravia – is also acting as an advisor for Silva, which is set to open next month in the former Les Platanes unit at 26-28 Bruton Place. The launch will be a first restaurant from former University of Exeter economics student Daria Grebenyuk, who began her career in the insurance industry before deciding during the covid pandemic to pursue her dream of launching her own business exploring different cuisines. Derived from the Latin word for ‘forest’, Silva's menu takes influences from as far and wide as the Mediterranean and Japan, serving breakfast, brunch, lunch and dinner. The breakfast offering will include gratinated crab and Gruyère omelette as well as soufflé pancakes with white chocolate and lavender Chantilly, while among the other dishes will be baked Isle of Mull scallops with yuzu butter and roast duck with coco beans, fennel and orange. There will also be a wine list focusing on new and young winemakers chosen by wine consultant Yulia Gurevich, head sommelier for the Pachamama group. Offering 91 covers across two floors and an outside terrace, the restaurant will also have an intimate first-floor snug bar and a private dining room. Grebenyuk said: “For me, it was important to create a space that felt like an elegant escape any time of the day or night.”

Banx Pub Group adds Stoke site to portfolio: Banx Pub Group, a family-run business with 17 sites across the Midlands and Devon, has added a Stoke pub to its portfolio. The Warwickshire-based business has taken on The Princess Royal on Carlisle Street, Stoke-on-Trent, and will jointly invest £123,000 in a revamp with Heineken-owned Star Pubs & Bars. When it opens in mid-November, the pubs will have increased from 65 to 72 covers, reports Insider Media. Star Pubs area manager Andrew Myatt said: "The Princess Royal is a very popular local. We're delighted to be co-investing with Banx Pub Group in The Princess Royal to improve the surroundings for the residents to socialise in." Banx Pub Group was founded in 2021 by Graham and Shelley Tongue.

Immersive venue operating business launches first site for its new multi-sensory social entertainment concept: Immersive venue operating business Spider Entertainments has launched the first site for its new multi-sensory social entertainment concept, Spider Box. It has launched in an 8,000 square-foot unit at DTZ Investors' Printworks development in Manchester – offering attractions such as racing simulators, immersive music quizzes, live music, karaoke and a performance area that will showcase talent from across the region. Spider Box will also offer a street food-inspired menu featuring tempura, seafood, grilled dishes and an array of vegan, vegetarian and gluten-free options. Spider Entertainment chief executive Rob Hetherington said: "Manchester is a fantastic city, one that really understands and feeds off a strong evening to late-night economy. When we made the decision to launch this new concept in Manchester, Printworks stood out for its history, appeal, point of difference and collection of like-minded leisure brands. Quality social experiences is what we do best, and with Spider Box now open, we can really showcase our expertise in immersive entertainment to an engaged and knowledgeable audience." Spider Entertainment is usually involved in the design, build and operation of immersive experiences globally, and earlier this year signed a deal to manage operations at Inverness Castle ahead of the launch of The Inverness Castle Experience in 2025. In the past, it has worked with businesses including Merlin Entertainments, Continuum Attractions, Silverstone, Center Parcs and ITV and within attractions such as Sea Life Centres, Legoland, Mary King's Close, Spinnaker Tower, Woburn Abbey and The Emirates Cable Car. Metis Real Estate Advisors and Stärka acted for Printworks while Spider Box dealt direct.

Padel-focused multi-sport and F&B concept closes crowdfund after raising more than £300,000: Padel-focused multi-sport and food and beverage concept Social Sports Society has closed its crowdfunding campaign after raising more than £300,000. The start-up, which was founded in 2022 and aims to “transform unloved land” across the country into multi-sport fitness hubs anchored by padel courts, had been looking to raise £250,000 via Crowdcube. Social Sports Society offered equity of 4.75%, giving the business a pre-money valuation of £5.4m. It has now closed the campaign after raising £306,970 from 195 investors. The funds will be used to expand its current sites and develop new ones. Its first location was a three-court community hub in London's Wembley – set to be extended with a further 20 courts – which will be followed this month by the opening of a ten-court venue in nearby Brent Cross. New sites in Stockport, Manchester and Birmingham are also due to open this autumn, with plans to also develop in Central London. Brent Cross will be its flagship location, with plans for an eventual 26 courts there, and the business aims to have 23 courts operational across four venues by the end of 2024.

Atlas Hotels reports revenue up 6.4% so far in 2024 with Ebitda 8.2% ahead, in process of refinancing £310.2m debt: Franchise hotel group Atlas Hotels has reported revenue in 2024 is currently up 6.4% on last year, with Ebitda 8.2% ahead of 2023. Occupancy for 2024 to date has increased to 78.3% compared with 75.3% for the same period in 2023 while average daily rate “has seen further improvement”. Atlas Hotels also revealed it is in the process of refinancing £310.2m of external debt that is due to be completed in advance of the 2024 redemption date of December 2024. The company said specific discussions have taken place with a large number of lenders, “which has led to a number of tern sheets to fully refinance the debt”. It added "the strong level of current trading and related cash flows would provide a very attractive debt yield in order to replace the existing financings within the group". It comes as the company – which operates 58 sites across the UK, the majority under the Holiday Inn Express brand, and employs almost 1,300 staff – reported turnover increased to £162,140,000 for the year ending 31 December 2023 compared with £143,502,000 the year before. The group made a pre-tax profit of £2,937,000 compared with a loss of £9,752,000 the previous year. In his report accompanying the accounts, director Desmond Taljaard stated: “Based on the performance of the start of 2024 and the measures taken to control costs, we are confident the full-year performance will achieve budget.” No dividend was paid (2022: nil).

Rockwater to open new Sandbanks venue next year: Rockwater Group, the Luke Davis-led business, will open its latest coastal community hub, restaurant and bar site, at Sandbanks in Dorset, in the spring in 2025. Rockwater Sandbanks will be the brand's largest venue yet and will be spread across two floors with an outdoor terrace. It will offer two dining concepts under one roof, a fine dining experience and a British-style open flame cookery area serving large cuts of fresh fish and meat. There will also be a high-end cocktail bar, and the venue will produce bread, pastries, and sauces for Rockwater's Branksome and Sandbanks venues and takeaway shacks. The Sandbanks venue will complement the nearby Branksome site, with both locations forming the Rockwater Village concept. The group also operates its original site in Hove. “We are incredibly excited to open our third Rockwater in 2025,” Davis said. “Sandbanks will be our flagship venue that will set a new standard for luxury coastal hospitality in the UK. Just as we have achieved in Branksome and Hove, our Sandbanks site will become a sought-after destination in the local area and hub for the community. Under our roof, guests will enjoy everything from beachside gourmet dining to wellness classes and live music.”

New juice and smoothie concept opens third site in five months, two more to follow this year: New juice and smoothie concept Bloom Juice Co has opened its third site in the space of five months, with two more to follow this year. The business was founded earlier this year by Jordan Dodd and Stephen Bryant, launching its debut store on Lincoln's High Street in June. A second store, in Cambridge's St Andrew's Street, followed last month, and it has now opened at Derby's Derbion shopping centre too. Further locations are planned in Leeds and Leicester before the end of the year. Bloom Juice Co offers a range of smoothies, freshly juiced drinks, iced coffee and matcha, fruit frappes, smoothie bowls and freshly baked snacks. “Coffee shops and boba tea are very full of sugar – there's no natural ingredients in what they're selling,” Bryant said. “We wanted to bring something that was affordable, fresh and, most importantly wholesome. We brought a nutritionist on board to look at how can we create a menu that is actually tasty, but also nutritious at the same time.”

Davenports to reopen former M&B pub in Birmingham this week: West Midlands brewer and retailer Davenports will open its latest pub in Birmingham this week. Davenports acquired The Crown in Kings Heath from Mitchells & Butlers in August. The pub, in Alcester Road South, will reopen on Friday (25 October) under Davenports’ My Local format and revert to its historical name – the Kings Arms, reports Birmingham Live. Davenports was established in Birmingham in 1829 and operates a portfolio of pubs across the West Midlands including The Queens Head in Birmingham city centre. The company also brews ale at its Smethwick site.

Mediterranean cake shop brand opens second UK site: Mediterranean cake shop brand Wilton Patisserie has opened its second UK site. The shop in Sutton Coldfield, in the West Midlands, is the seventh overall, with five more in owner Andy Georgiou's native Cyprus. The brand began in 1986 and the family then opened in Southgate in north London in 2008. But Georgiou always wanted to open a shop in the Midlands, and having found Sutton Coldfield had no patisseries, decided it was the ideal location. Georgiou told Birmingham Live: “I have been dealing with Brummies coming to London for years and started delivering here once a week. Even in London, I don't think there's a cake shop with the variety we have. The London shop is three times the size of the Sutton Coldfield one.” As well as the café business, Wilton Patisserie also caters for weddings and events.

Sheffield brewery becomes employee owned: Sheffield brewery Abbeydale has become an employee ownership trust. The brewery was founded in 1996 and now employs more than 50 staff, split between the brewery itself and its pub, The Rising Sun in Fulwood. Both the brewery and pub are now 100% employee-owned, with a company name chosen by the new employee owners of Sheffield Beerworks EOT. The new board of trustees comprises of Jon Conroy, who is independent chair, Pat Morton (selling shareholder), Dan Baxter (co-managing director), and two employee representatives – Finlay MacDonald, a bartender at the Rising Sun, and brewer Christie McIntosh, who represents the manufacturing side of the business. Brewery founders Pat and Sue Morton will continue to be involved. While they will step back from the day-to-day running of the business, their positions on the board of directors will remain, and they will continue to play an advisory role. Baxter said: “I could not be prouder of our team and everything we have achieved together over the years. We are a humble bunch, mentored by Pat and Sue, and a have a vast skill set among our staff at both the brewery and the Rising Sun.”

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