December delivers growth for hospitality groups after late festive surge for pubs: Britain’s leading restaurant, pub and bar groups achieved solid year-on-year sales growth of 3.2% in December 2024, the latest CGA RSM Hospitality Business Tracker reveals. The like-for-like figure is the tracker’s highest point since May and is just above Britain’s general rate of inflation. It represents a solid performance for the sector over the crucial month of December, which brought a surge in consumer spending in the final fortnight. The tracker shows total sales growth in the month was notably higher at 5.2%, reflecting a steady stream of new managed restaurant, pub and bar openings over the last 12 months. Pub groups enjoyed the best December, with like-for-like sales were 4.7% ahead of December 2023, while restaurants’ growth was more muted at 1.6%. Elsewhere, bars bounced back from soft trading throughout most of 2024 to post growth of 1.3% while the on-the-go segment dropped 1.2%. December trading in London comfortably outpaced the rest of the country, with managed groups’ sales inside the M25 up 4.6% year-on-year, while venues further afield rose 2.8%. Karl Chessell, director hospitality operators and food EMEA at CGA by NIQ, said: “After a modest performance through most of 2024, real-terms growth in December was a big relief for the hospitality sector. The late festive sales show people remain eager to celebrate special occasions in pubs, bars and restaurants, and provide a welcome buffer for the much quieter months of the year.” Kate Nicholls, chief executive of UKHospitality, added: “December is the most important month of trading for most hospitality businesses, and was even more critical in 2024 as the sector faces £3.4bn in added cost in April. Real-terms sales growth as a whole is encouraging, but with performance varying quite significantly across the sector, it is unlikely to be enough to increase business confidence heading into a challenging year.”

Sponsored message – dilapidations consultancy offers financial lifeline to help deal with inflated landlord claims: A specialist dilapidations consultancy is offering a financial lifeline to commercial, hospitality and leisure tenants to help deal with inflated landlord claims. Dilapsolutions, a team of experienced chartered surveyors, said many financially pressed tenants are too quick to accept and pay out on dilapidations claims, and has formulated a unique offer to help save what could be hundreds of thousands. Dilapsolutions managing director Paul Raeburn said: “Dilapidations claims often come as a surprise to tenants at the end of a lease and cover the costs of any remedial works landlords claim they’d need to spend to make the property rentable again. Because of complex diminution in value rules, properly assessing these claims requires both a building and a valuation survey. On new claims over £50,000, Dilapsolutions will only charge the tenant in addition to the initial survey if the final agreed settlement is more than 10% lower than the claim. As well as offering both types of survey, we also have a low-cost fixed fee should tenants prefer that option. It’s the toughest time we’ve known for tenants trying to earn an honest living, The last thing they need is an inflated dilapidations claim. That’s why we’re offering a helping hand with this unique offer.” To find out more, click here. If you have a sponsored story you would like to see featured in this newsletter position, email paul.charity@propelinfo.com.

 

Propel 500 report – franchising set to grow in 2025, with 24-hour trading on the rise: Franchising is an ever-growing element of the food and beverage scene and shows no signs of slowing down in 2025, writes Propel’s Tim Street’s in the introduction to the Propel 500 report showcasing the UK’s 500 leading hospitality operators ranked by turnover. This is just one article in a report that is delivered in two parts: an introductory PDF, featuring deep dives into the top 25 companies and 6,500 words of insight from Propel’s expert writers, and a fully searchable Excel sheet, offering easy access to all the data. Together, the Propel 500 companies generate more than £30bn in turnover across 51,000 sites and the report spans seven key segments: pubs and bars, hotels, quick service restaurants (QSR), casual dining, cafe and bakery, experiential leisure and fine dining. A list of these operators can be discovered now by visiting the Propel 500 page on Propel’s website. This comprehensive report provides more than 90,000 words of analysis, delving into company histories, leadership structures, site numbers, and financial performance, making it an essential resource for industry professionals. Further analysis includes Mark Wingett examining the mergers and acquisitions shaping the future of the Top 500 and Phil Pemberton’s insights into experiential leisure as a hospitality cornerstone. Katherine Doggrell examines developments in UK hotels, while Mark Bentley, business development director at HDI, identifies emerging growth sectors, and Maria Vanifatova, founder of Meaningful Vision, analyses trends in QSRs. Propel 500 is available now for £595 plus VAT. Existing Premium Club members can purchase it for £395 plus VAT. Premium Club members will receive the report for free on Friday, 28 February at 9am. Order the Propel 500 report today by emailing: kai.kirkman@propelinfo.com.

 

Next Who’s Who of UK Hospitality to feature 129 updated entries and 18 new companies, released on Friday: The next Who’s Who of UK Hospitality will feature 129 updated entries and 18 new companies when it is released to Premium Club members on Friday (24 January), at midday. The database now features 876 companies, and this month’s edition includes more than 237,000 words of content. 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 Excellence in Pub Retail (May 2025) and discounts on specialist sector reports such as the Propel 500. 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.

 

Luke Johnson – allow any entrepreneur to occupy a single-shop business rates-free for three years: Serial sector investor Luke Johnson has set out ten ideas to “start the growth engine” in London, including allowing any entrepreneur to occupy a single shop business rates-free for three years. Writing in The Standard, Johnson said: “High rates mean occupation costs can be prohibitively expensive for early-stage companies. Currently charities generally pay zero property rates – which explains why there are so many charity shops in our high streets. But these operations make it harder for retail start-ups to obtain sites. We should allow innovators better access to vacant stores to revive run down parades and shopping centres.” Johnson also called for planning regulations to be streamlined, with developers and landlords “forced to start construction quickly, so growth is boosted quickly. He also suggested reducing train and bus fares by 75% on Mondays and Fridays to encourage people to come and work and/or spend time in London “on the days that have suffered most from working from home”. Johnson said entrepreneur visas should be granted to overseas leaders of “genuine start-ups that will invest and employ people” and these ventures would need to pass a qualitative test. He added while an Innovator Founder Visa scheme exists, it is “strict, complex and bureaucratic”. Johnson said roadworks should, wherever humanly possible, be done overnight, “as happens in other countries”, with utility companies, contractors and councils incentivised to carry out repairs much more quickly and during non-working hours. He also suggested forming a database and a group of experts “to examine why and how London’s best regeneration schemes – like Kings Cross, Canary Wharf, Stratford, Battersea Power Station and Paddington Basin – have worked, and so learn lessons to deploy in other parts of the city in need of reinvention”.

 

New taskforce launched aimed at securing growth in the UK’s £74bn tourism sector: A new taskforce has been launched aimed at securing growth in the UK’s £74bn tourism sector. The Visitor Economy Advisory Council, which met this week for the first time, aims to boost collaboration between the government and the tourism industry. The council will inform the government’s forthcoming National Visitor Economy Strategy and work towards Downing Street’s ambition for the UK to welcome 50 million international visitors per year by 2030. UKHospitality chief executive Kate Nicholls is a member of the council, which is co-chaired by tourism minister Sir Chris Bryant and Karin Sheppard, IHG Hotels & Resorts’ managing director for Europe. “The UK is one of the most visited countries in the world and domestic and international tourism are a key part of our economy,” Bryant said. “I want to build on this success and enable even more visitors to experience our fantastic culture and landscape. That is why I want to increase cooperation between the government and the tourism sector so that we can make the UK the best destination that it can be.” At its first meeting, the group discussed the sector’s performance across domestic, international and outbound markets and how the council can support the government’s growth mission. A key part of the government’s growth strategy for the sector is increasing visitor numbers outside of London.

 

Job of the day: COREcruitment is working with a facilities management service provider that is seeking an operations director for the Midlands. A COREcruitment spokesperson said: “This role is focused on catering, cleaning and security so experience in these areas is a must. The key drivers will be managing client and stakeholder relationships and nurturing a cohesive and service-led culture within the sizable team. The operations director will drive and review business performance and growth, motivating the teams to deliver their best to clients and customers every day, be innovative and strive for service excellence, develop and deliver strong leadership to their team of managers and support them in their development and performance through growth.” The salary is up to £80,000 and the position is based in Nottingham. For more information, email dan@corecruitment.com.

 

Exclusive – new vehicle Cherry Equity Partners completes Cabana acquisition, sees it ‘as a time to grow’: Ed Standring has completed the management buy-out of the Latin America-inspired concept Cabana via a new investment platform, Cherry Equity Partners, backed by an international family office, Propel has learned. Propel revealed earlier this month that Cherry Equity Partners was close to acquiring Cabana, which is set to continue trading at its existing three sites in Covent Garden, Westfield Stratford and at the O2 Arena, as well as the Saudi franchise business, following a transaction that safeguards the jobs of all 72 restaurant employees. The company said the deal marks a “pivotal moment for the brand”, putting in place a “sustainable financial platform on which to invest and drive future growth”. Cabana has been working with its advisers to explore investment options that support its ongoing operations and expansion plans. It said the sale process, which was managed by Interpath, attracted interest from a range of potential buyers. Standring, chief executive of Cherry Equity Partners, said: “We are delighted to have completed the acquisition of the Cabana business and are confident that this new investment will enable us to focus on growing the brand and unlocking its full potential. This is the first acquisition by our new Cherry Equity Partners investment platform and, while the year ahead is going to be tough for the sector, we do see it as a time to grow.” Ravi Patel, of Interpath, who advised on the transaction, added: “We are pleased to have guided Cabana through what has been a challenging period for operators right across the hospitality sector. This deal secures jobs, continuity, and puts in place a solid foundation for future growth under new ownership. We wish Ed and the team at Cabana all the best as they embark on this exciting new chapter.” Cabana features in the UK Food & Beverage Franchisor Database, the latest edition of which was sent to Premium Club members last month, featuring 50 new entries and now has a total of 330. 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.

Chaiiwala – we think the potential for the brand in the US is 1,000-plus stores: Sohail Ali, founder of Indian street food franchise Chaiiwala, has told Propel that the business thinks there is potential for a revised total of more than 1,000 stores under the brand in the US, complimented with a “fully-fledged UK potential of 400-plus stores”. Propel reported earlier this week, the business, which was founded in Leicester in 2015, is gearing up for its planned expansion into the US and had begun actively seeking “experienced franchise partners, distributors, supply chain specialists and real estate professionals to join us on this journey”. The US would be a third international market for the circa 115-strong brand, which has 15 sites in Canada and three in the UAE, as well as closing in on 100 UK locations. Ali, who said last September that the bran was targeting 900 US locations, told Propel: “We think the potential Stateside is 1,000-plus stores, complemented with a fully-fledged UK potential of 400-plus stores. Our plans for entry to the US are initially across five states: New York, Michigan, Illinois, California and Texas. We are looking for seasoned franchise operators as well as franchise operators who have the capability to act as a master franchisee, handling supply chain and distribution for their state as well as cross-country. In the UK, we are looking for food and beverage veterans who have a proven track-record and appetite for three to five stores in various clusters across the UK. Franchisees who have existing property portfolios that they can leverage to accelerate rollout is a plus, but not essential.” 

 

Mosaic Pub & Dining CEO – 2025 will be a ‘good time of opportunity’ but bottom-line growth ‘nigh on impossible for most operators’: Mosaic Pub & Dining chief executive James Watson has told Propel that 2025 “will be a good time of opportunity” but bottom-line growth “will be nigh on impossible for most operators due to the tone-deaf measures taken by the government”. It comes as the group continues to reorganise its circa 20-strong estate following the acquisition of a majority holding in three Birmingham sites from Young’s in the second half of last year. Mosaic acquired a majority holding in The Button Factory, The Distillery and The Frederick Street Townhouse. Late last year, Mosaic also sublet Arthur’s in Twickenham, south west London, to Morgan Pub Collective, which is operating the site as Arthur’s Pizza. Mosaic will also surrender the lease of the Chapter pub in Canterbury in Kent at the start of next month. Watson, who leads the business with Pete McDonald, told Propel: “We continue to selectively acquire and dispose of assets as we look to continue to increase average site turnover and harmonise our estate. We also increased our bank facilities last year to increase the war-chest as we see 2025 and beyond a good time of opportunity, notwithstanding bottom-line growth will be nigh on impossible for most operators due to the tone deaf measures taken by the government, which will inevitably take the sector backwards.” Paul Tallentyre, of DCL, acted on the Arthur’s deal.

 

Ennismore to open Hoxtons in Edinburgh and Dublin among global 2025 pipeline of 25 hotels and more than 35 F&B destinations: Gleneagles and Hoxton hotels owner Ennismore will open new Hoxtons in Edinburgh and Dublin as part of a global 2025 pipeline of 25 hotels and more than 35 food and beverage destinations. Opening in mid-2025, The Hoxton Edinburgh, located in the Haymarket neighbourhood, will encompass 11 Georgian townhouses with an open lobby, restaurant and event spaces. Marking a first for the brand, there will also be several three-bedroom, self-contained apartments. Opening in late 2025 for the brand’s Irish debut, The Hoxton Dublin will restore the former Central Hotel, and its iconic Library Bar, in Exchequer Street. Once restored, the hotel will have more than 120 rooms, an open lobby, a café and wine bar, a restaurant and a late-night music venue – another first for the brand. The restaurant, Cantina Valentine, will offer a modern interpretation of traditional Peruvian dishes. Ennismore chief executive Gaurav Bhushan said: “Following a remarkable year of openings in 2024, we eagerly anticipate another bold year of hotel and restaurant openings across all regions. This year marks several significant milestones for Ennismore and our brands, and we are excited to bring our unique experiences to new destinations and guests worldwide.” Founded in 2011 by Sharan Pasricha, Ennismore is a joint venture with Accor in which Accor holds a majority shareholding. The joint venture operates 170-plus open hotels, with 120-plus in the pipeline, more than 15 brands, and in excess of 500 restaurants and bars.

 

Cornish Bakery reveals target locations as it looks to expand across south of England and Wales: Fast-growing independent brand Cornish Bakery has revealed its target locations as it looks to expand across the south of England and Wales. The 65-strong business has appointed retail and leisure property advisor Alma to find new prime sites in and south of Birmingham, as it looks to grow to towards a previously stated target of “at least 100 locations”. It is primarily seeking sites in affluent seaside towns, market towns and cities, outlet centres and tourist locations. Size requirements are 1,400 to 2,500 square feet (high street), 1,800 to 3,000 square feet (outlets) and 300 to 2,000 square feet (tourist). Target towns and cities include Brighton, Bristol, Guildford, Kingston, Tunbridge Wells Cambridge, Oxford, Manchester, Birmingham, Cardiff, Edinburgh, Chester, Lincoln, Durham, Southampton, Nottingham, Shrewsbury, Bath, St Albans, Windsor, Wells, Petersfield and Ringwood. Target tourist locations include Broadway, Bournemouth sea front, Betws-y Coed, Aldeburgh, Tenby, Woodbridge, Holt, Poole Harbour, Whitstable, Salcombe, Perranporth, St Davids and Woolacombe. Target outlet locations include York, Cheshire Oaks, Livingston, East Midlands, West Midlands, Bicester and London Excel. “This is not an exhaustive list and other locations will be considered,” the company said. “While the lists don’t include all targets, we think they give a good representation and a basis for further discussion with active leasing contacts.” Cornish Bakery said at the end of last year that it had lined up ten new sites for opening in 2025, and that its latest launch, in Milton Keynes’ centre:mk, had been its most successful ever.

 

Creams CEO – savoury range has secured new customers and opened up new dayparts, launching digital sales software as prelude to loyalty programme: Everett Fieldgate, chief executive of fast-growing dessert parlour operator Creams, has told Propel the company’s savoury range has secured new customers and opened up new dayparts. Creams launched the savoury hot pockets range in November, saying at the time that it was “creating the opportunity for franchise partners across the business to reach a broader audience and exploit a new daypart”. Fieldgate said: “October and early November were positive and strong. Then there were two storms that came two weekends in a row, so we were negatively impacted in late November. However overall, we’re really pleased with winter trading. Our winter strategy balances out the gap with summer trading and we’re seeing that coming through really strong. What we found was that out of a group of four, five or six people, one will not necessarily have a sweet tooth, so the savoury range is designed to satisfy everyone’s needs. We have also found people will come in for a hot pocket and have a milkshake or gelato with it, so we’re seeing some fantastic sales momentum. During the trial, we saw 20% of transactions were with people who had never been to Creams before but were enticed in by the hot pockets. What we’re also seeing is 50% of savoury sales are before 4pm, whereas our business has very much been a 2pm to midnight or 2am proposition, so we’re bringing that initial daypart forwards. Also driving the pre-4pm sales is the recent launch of Grumpy Mule coffee in our stores, and we’ve seen a more than doubling of our coffee mix through that. With 50% of those coffee sales before 4pm, we can have our stores open longer than before and still being commercially viable. We brought in a coffee partner as we wanted to be famous for our pastries, cakes and desserts while having great coffee produced by someone else, rather than trying to compete ourselves. We will be looking to expand the savoury range in the future.” Fieldgate also said Creams will be launching digital points of sale into its stores this year “to drive sales, reduce costs and improve the guest experience”. He said: “We can then introduce loyalty programmes on the back of this. We also have a huge project around delivery from being something that we do, to a much more dedicated business platform for us to move forward on. One of the areas we’re working on with regards to this is finding the right offers to put in place in individual locations rather than one offer for the whole country. Each delivery zone has a different customer base and demographics with different needs.” In terms of partnerships, Fieldgate said Creams’ relationship with Tesco is going “really well, so we can see that moving forwards”. The link-up with Park Garages, which launched Creams into garage forecourts, has not grown as rapidly, but Fieldgate said it was a case of “wait and see”. He added: “The stores we have are doing well, and we continue to work with it and have a good relationship with it. It’s just a matter of finding the right opportunities as we move forwards. We’re certainly not walking away from it.”

 

Domino’s franchisee opens brand’s 1,300th UK store: Domino’s franchisee Racz Group has opened the pizza brand’s 1,300th UK store. Racz Group has opened the outlet in Herbison Square in Ballymena – one of seven stores it has launched in Northern Ireland in the past 70 days. One of the others – which opened in Ballymoney in November – produced the second highest opening day sales since Domino’s came to the UK 40 years ago, as previously reported. Owner Mike Racz said: “We are delighted to bring the nation's favourite pizza into further locations across Northern Ireland, including the opening of Domino’s 1,300th store in the UK and our second store in Ballymena. To have numerous new stores open in Northern Ireland, allows us to deliver our delicious menu of handcrafted pizzas to even more loyal customers, as well as welcoming new team members into our Domino’s family.” A Domino’s spokesman added: “We’re thrilled to announce the launch of Domino’s 1,300th UK store, located in Ballymena, Northern Ireland. This milestone is more than just a number; it represents the exciting growth potential for our brand and the meaningful opportunities we’re creating for our customers, all made possible through our strong collaboration with franchisees and dedicated store teams.” Racz Group was founded in 2004 by Racz, who started out as a Domino’s delivery driver after coming to the UK from Hungary. As well as circa 70 Domino’s sites, Racz Group also operates18 Costa Coffee stores around the Lake District and Cumbria, as well as the Black Olive restaurant and bar in Hartlepool Marina. The company also operates 16 Anytime Fitness gyms, five sites for beer and barber concept Head Quarters, and opened its first Grounded Kitchen franchise in 2022, in Gateshead.

 

M&B lines up first conversion for Pesto concept: Mitchells & Butlers (M&B) has lined up the first conversion for its Italian restaurant concept, Pesto. Last May, M&B completed the acquisition of Pesto, which operates ten restaurants across the north west and Midlands and was founded by Neil and Sara Gatt. M&B now plans to transform the White Swan in Wythall, which borders Solihull and Birmingham, into the 11th location for Pesto, with the restaurant set to open early in the spring. Sara Gatt said: “The White Swan represents a fantastic opportunity for us to bring our Italian-inspired dining concept to a new community.” At the time of the acquisition, M&B chief executive Phil Urban told Propel that he saw Pesto growing to up to 80 sites. Earlier this month, he said he was “very pleased” with its performance and added: “Pesto will do one to three sites [this year], but the real programme will start at the end of 2025.”

 

Kent McDonald’s franchisee returns to profit as it reports record turnover of more than £125m: McDonald’s franchisee PA Crocker, which operates 21 restaurants across Kent, returned to profit in the year to 31 December 2023 as it reported record turnover of more than £125m. The company turned a pre-tax loss of £892,382 in 2022 into a profit of £5,023,646. Turnover rose from £114,038,995 in the previous year to £125,551,884. Dividends of £1,000,000 were paid (2022: £1,280,000). Director Peter Crocker, who ran several petrol station businesses before becoming a McDonald’s franchise in 1995, said: “As a result of the 2023 menu and marketing strategy, alongside the execution of incremental price rises, the company has seen increased sales growth as the company continues to operate against the backdrop of significant macroeconomic challenges. Sales for the year amounted to £125.55m, an increase of £11.51m from 2022, giving an overall sales increase of approximately 10.10%. The growth in sales is predominantly due to the continued growth in delivery sales and price rises. The gross profit margin was 65.87% compared with 64.96% in 2022 and is in line with expectations. The financial position of the company is healthy, with the balance sheet showing net assets of £13.43m, compared with £9.44m in 2022.”

 

Flat Iron confirms opening in London’s Southbank: Flat Iron, the Piper-backed affordable steak concept, has confirmed it is to add to its London estate with an opening in Southbank. Propel revealed in September that Flat Iron had secured a lease on the ex-Canteen site at Royal Festival Hall for an opening in the spring. Flat Iron has now confirmed details for the venue, which will have more than 220 covers in total, including a large terrace. The restaurant will be the Tom Byng-led business’ 15th site in the capital – and 18th overall. Flat Iron’s head of beef, Fred Smith, said: “We are so humbled to be able to open Flat Iron in such a historic and culturally vibrant London landmark. We have conscientiously designed the interiors to reflect the building's rich history.” In November, Flat Iron reported record sales as it confirmed the appointment of City advisors to review its strategic options. Turnover increased 38% to a record £49.6m in the 12 months to the end of August 2024, with underlying profits rising to £5.7m, from £3.8m in 2023. Propel revealed in October that Flat Iron has appointed Houlihan Lokey to assess its options, which are understood to include third-party investment or a possible sale of the business. Flat Iron, which was founded by entrepreneur Charlie Carroll, started life in 2012 as a pop-up above the Owl & Pussycat pub in Shoreditch, east London, and opened its first restaurant later that year in Beak Street in London’s Soho. The company is understood to have a well-developed pipeline for 2025, both in London and the regions, where it has opened sites in Cambridge, Leeds and Manchester.

 

Yard Sale Pizza hires Sarah Hiraki as new chief marketing officer: Yard Sale Pizza, the restaurant and delivery business that has sector investor Paul Campbell as non-executive director, has hired Sarah Hiraki as its new chief marketing officer, Propel has learned. The 13-strong company said Hiraki brings a wealth of extensive digital and creative experience from her previous role at Smartly, an artificial intelligence-powered advertising technology platform where she was head of creative, working with brands like Nike, Amazon, Sainsbury’s, Just Eat and Deliveroo. The company said Hiraki’s appointment follows an “extremely strong year” as it enters its 11th year of trading. Her appointment will also see Sam Briggs, the company’s current marketing director, stepping into a non-executive role in a few months’ time. The company opened its latest site, at 73 Tower Bridge Road in Bermondsey, east London, in September, which it said broke its eight-week opening sales record. Yard Sale has also secured a site in Earlsfield, south west London, for its next opening, later this quarter. Hiraki said: “2025 is already off to an amazing start for Yard Sale, and audiences can expect to see more exciting collaborations, big brand moments, big developments in digital and local flavour both inside and outside the pizza box.”

 

Camino to launch new pintxo bar in Covent Garden: Spanish restaurant and bar group Camino, which acquired two Iberica sites out of administration at the end of last year, is to open a new pintxo bar in London’s Covent Garden. The circa 30-cover site will be located in the Covent Garden piazza’s arches and will include “small affordable bites the Basque country is famed for”. Camino co-founder Richard Bigg told Propel: “It will be Basque pintxo bar, with only Basque drinks. Our executive chef Nacho del Campo, who I have worked together with for 17 years, is from the region's capital Vitoria so of course knows its cuisine perfectly. I genuinely can't wait for the place to open as I have visited the area more times than I can remember. It will be fun, lively and informal, and though the food will just be the delicious small affordable bites the Basque country is famed for, the quality will be high.” Propel revealed at the start of the year that Camino paid a total consideration to acquire two Iberica sites – in London’s Farringdon and Victoria. This followed Iberica appointing RSM UK to assist in the disposal of the business that operated sites in Leeds and London’s Farringdon, Victoria, Canary Wharf and Great Portland Street. The group will reopen the Farringdon site as a Camino later this month, with the Victoria restaurant set to rebrand as a Camino in mid-February.

 

Petersham Nurseries – rent levels were causing concern nine months before crunch talks, sales momentum failed to continue into 2024 after reporting first profitable adjusted Ebitda: The family behind Petersham Nurseries has said its rent levels were causing concern nine months before this month’s crunch talks. Earlier this month, Propel reported that the threat of closure is hanging over The Petersham and La Goccia restaurants, in London’s Covent Garden, following a row over rent. In Petersham UK’s accounts for the year to 24 December 2023 – the company that operates the restaurants – director Heather Ann Stokes said: “We had a concessionary rent period that ended in April 2023. We have been in dialogue with our landlord since that point about a further discounted period to continue to help bridge our way to sustained profitability. While there have been notable concessions, we have yet to agree a position that is acceptable to us.” Stokes said the company’s sales momentum of 2023, when it reported profitable adjusted Ebitda for the first time, failed to continue into 2024. She said. “While undoubtedly impacted by the colder weather in the first half of 2024 versus 2023 (which disproportionately affects our restaurants due out reliance on outdoor dining), the continued trend since the weather has been more comparable shows that the sales pressures are no longer being counteracted by underlying momentum. While cost controls remain strong, our profit margins have been impacted (primarily due to the lower sales). To try to offset the above and navigate through to a period of strong consumer spend, we have restructured our sales and marketing team to put even more focus on the levers we continue to learn are the most effective.” It comes after the business, which was founded in 2016, reported its first profitable adjusted Ebitda, and that despite ongoing cost pressures, 2023 was “a relative success for the company”. She added: “Boosted by a full year of the enhanced leadership team, the company’s adjusted Ebitda grew by £473,000 from last year and made adjusted Ebitda of £140,000. This was the first year since trading the company made a profitable adjusted Ebitda. This was driven by a combination of trading (food and beverage sales across all units grew by 8.3% while restaurant Ebitda grew by 18% and exceeded the £1m threshold for the first year since trading) as well as the disposal of legacy loss-making channels and costs (such as e-commerce).” The company’s turnover for the year was £7,492,529, up from £7,014,403 in 2022, while pre-tax losses narrowed from £1,262,780 to £405,440.

 

Waitrose brings back free coffee deal: Waitrose is to bring back free coffee for shoppers – even if they do not buy anything in its supermarkets. The company emailed customers to say it was changing the MyWaitrose terms and conditions from next week. The message said: “You’ll be able to get your free hot drink without buying anything in store first. Don’t forget your reusable cup!” This will replace the current terms which require something to be bought first. The MyWaitrose scheme, which was introduced in 2011 and has nine million members, originally offered a free tea or coffee without a purchase. This propelled the supermarket into the second-largest provider of coffee in the UK. But its policy was changed following long queues and complaints from regular shoppers, who claimed that it was attracting freeloaders rather than genuine customers. The supermarket said: “Some of our MyWaitrose members like to have the free coffee before they shop or during the shop rather than afterwards, so we are just offering a bit of flexibility in response to customer feedback.”

 

Patara reports turnover boost as losses widen: Fine Thai dining group Patara, which operates five restaurants across London, reported a turnover boost for the year ended 31 December 2023 as its losses widened. Patara, which is backed by Beninha and Corbin & King owner Minor International, saw its turnover rise from £3,608,371 in 2022 to £4,282,943. The company’s pre-tax loss of £407,963 grew to a loss of £510,095. Patara’s restaurants are in South Kensington, Knightsbridge, Oxford Circus, Soho and Wimbledon.

Investment opportunity for trio of freehold pubs marketed for £4.2m: A collection of three freehold public house investments, located in the commuter belt of Greater London and Surrey and let to Twickenham Green Taverns, has been brought to market, with offers in excess of £4.2m sought. The freehold investments, which are being marketed by AG&G, are connected to the Abercorn Arms in Teddington, The Royal George in Walton-on-Thames and The Rising Sun in Epsom. The asking price of £4.2m for the group of freehold assets represents a net initial return of 6.9%, a low capital value of £341 per square foot. Each pub is let to Twickenham Green Taverns, forming part of the Morgan Pub Collective. Each lease runs to 2043 and there is a combined base rent of £308,688.

Former Hub Box head of food opens second site for Cornwall premium burger concept: Luke Taylor, former head of food at Hub Box, the south west burger and barbecue business led by Richard Boon, has opened a second site for his Cornwall premium burger concept. Taylor, now head of operations at Philip Warren Butchers (PWB), launched Native Burger in a former PWB branch in Launceston last year. He has now opened a second site, at Unit 5 in The Piazza, Crockwell Street, Bodmin. The 90-cover site has 46 covers inside plus 44 on a large outdoor terrace. Taylor has also introduced a drinks and dessert menu into the Native Burger offering, including Native’s own pilsner. Signature dishes, starting at £7, include The Workout (double beef patty, pulled beef brisket, bacon crumb, lettuce, Native barbecue sauce and mayo – £14), Twisted Fire Starter (beef patty, pepper jack cheese, lettuce, jalapeño, onion and sriracha mayo – £8), and Tequila Slammer (barbacoa pulled beef, beef patty, pickled red onion, Cornish slaw and chipotle tequila mayo – £11).