Exclusive – bulk of Bistrot Pierre business acquired out of administration for £2.73m: The bulk of Bistrot Pierre, the French restaurant group, was acquired out of administration earlier this month by Cherry Equity Partners, the new investment vehicle led by Ed Standring and backed by an international family office, for a total consideration of £2.73m, Propel has learned. Propel revealed earlier this month the deal, which was undertaken via a pre-pack administration process, ensured ten Bistrot Pierre sites around the country will continue to trade, safeguarding 394 jobs. The process saw eight restaurants close immediately, resulting in 158 redundancies. Propel understands the Cherry Equity Partners deal also included working capital of £1.5m to be made available to the new company. The report from administrators Interpath said: “Since 2020, Bistrot Pierre has struggled to return to pre-pandemic revenue levels. Additionally, the business was impacted by macroeconomic pressures including high levels of inflation resulting in a material cost base increase, increased energy prices and a general downturn in consumer confidence and spending. In light of these challenges, the directors implemented several cost-saving initiatives such as the closure of the master kitchen and a strategy to reduce fixed overheads per site. Despite these efforts, the trading performance of the company continued to decline resulting in liquidity pressures arising in 2024. As a result, in December 2024, the company instructed independent advisors to undertake a debt refinance process, which yielded two offers. However, both offers were not deemed viable to the relevant stakeholders. The company was forecasting a funding requirement of up to £400,000 to continue trading outside an insolvency process.” The process led to three trade parties and eight financial parties signing non-disclosure agreements. Four parties submitted final offers, three of which were for selected trade and assets on an insolvent pre-pack basis; one offer was an offer for the purchase of the bank’s debts and for all sites to trade on an ongoing basis, predicated by the subsequent implementation of a restructuring plan or company voluntary arrangement. The report said: “The offers not proceeded with were for lower consideration or not ultimately deliverable and were therefore not executed.” In the financial year ending 30 June 2024, Bistrot Pierre’s audited annual turnover was circa £24.4m with a loss of £2.1m. NatWest provided a term loan to the company, with circa £6m outstanding at the time of the appointment of the administrators, while Livingbridge held unsecured loan notes of circa £4.1m. 

HDI business development director Mark Bentley to speak at Excellence in Pub & Bar Retailing Conference, open for bookings with 20% discount on tickets for Premium Club subscribers: Mark Bentley, business development director at HDI, will be among the speakers at the Excellence in Pub & Bar Retailing Conference. The all-day conference takes place on Wednesday, 14 May at One Moorgate Place in London and is open for bookings. Bentley will talk about the areas where the pub sector is and has been performing strongly and where the opportunities are for the sector to drive growth. For the full speaker schedule, click here. Tickets are £295 plus VAT for operators and £345 plus VAT for suppliers. There is a 20% discount for operators and suppliers who are Premium Club subscribers. Email: kai.kirkman@propelinfo.com to book places.

Premium Club subscribers to receive next Who's Who of UK Hospitality on Friday: The next Who’s Who of UK Hospitality will be released to Premium Club subscribers on Friday (21 March), at midday. Another seven companies have been added to the database, which now features 894 companies. This month’s edition will also include 52 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 subscribers 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 Club subscribers 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 International Brands report. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers 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 subscribers 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 subscribers 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.

Uber Eats GM – the temptation in food delivery is to do it all but we’re doubling down on what we do best: Uber Eats general manager Matthew Price has told Propel that “the temptation in food delivery is to do it all, but we’re doubling down on what we do best”. Will Shu, founder of fellow delivery business Deliveroo, last week said the company’s foray into grocery shopping could eventually overtake takeaway food orders. Price acknowledged that the UK’s food delivery scene has indeed “transformed dramatically” since Uber Eats launched in the UK in the summer of 2016, when it was “connecting a handful of restaurants in London with a small group of avid users”. Speaking to Propel after the company recently announced its billionth order in the UK and Ireland, Price said: “The temptation in food delivery is to do it all – grocery, retail, meal kits, alcohol and more. And while expansion is exciting, focus is key. At Uber Eats, we’re doubling down on what we do best – delivering amazing food experiences, tailored to evolving lifestyles. That means smarter recommendations, more flexible delivery options and deeper partnerships with restaurants to create something truly special. The UK’s food delivery industry is at an inflection point. The foundation has been built – now it’s time to innovate responsibly, balancing convenience with sustainability, commerce with community, and expansion with operational excellence.” Price said since 2020, Uber Eats’ small and medium-sized businesses portfolio has grown 14-fold, and today, it makes up more than half of its UK partners. “For restaurants, this is a huge opportunity,” he added. “Delivery isn’t just an add-on – it’s a powerful way to extend your brand, build loyalty and engage customers in new eating occasions and exciting ways. At Uber Eats, we only succeed when our restaurant partners do. That’s why we’re focused on innovation to consistently bring them new customers, revenue streams and technology to help them compete in an ever-evolving digital world.”

UKHospitality – fall in GDP emphasises need for action to kickstart economy and reduce costs in spring statement: The fall in GDP emphasises the need for action to kickstart the economy and reduce costs in the spring statement, UKHospitality has said. Figures showed the economy contracted 0.1% in January with the Office for National Statistics data showing the services sector failed to offset a decline in the industrial sector and maintain growth from the previous month. Kate Nicholls, chief executive of UKHospitality, said: “Increasing costs across the board are putting intense pressure on both businesses and consumers, and this will only intensify in April, when £3.4bn hits hospitality businesses. Hospitality growth had been storming ahead in November and December but, like the economy, contracted in January. This shows how vulnerable businesses are and emphasises the need for action at the spring statement to reduce costs and boost business confidence. With the right measures, namely delaying the lowering of the employers’ national insurance contributions threshold, hospitality has proven to be a sector that can react most strongly and deliver much-needed economic growth, alongside social value.” A British Beer & Pub Association spokesperson said: “The chancellor can help turn the country’s fortunes around by ensuring that brewers and pubs, who pour billions into the economy, aren’t throttled by exorbitant costs like extended producer responsibility (EPR) that will further dampen investment and growth. Our sector is already one of the most highly taxed in the country and is staring down the barrel of unfair and chaotic packaging reform costs, which will charge pubs twice to recycle the same glass bottle and drive up the price of glass beer bottles. The chaotic implementation of EPR will cost brewers and pubs upwards of £150m, dent business and hurt hardworking staff, so it’s vital government urgently reviews these fees before it damages the economy.” 

Bad restaurant reviews to be used to track food poisoning outbreaks: Online restaurant reviews are to be used to trace food poisoning outbreaks. The Telegraph reported that the UK Health Security Agency (UKHSA) conducted a study that used artificial intelligence (AI) to scour the web for restaurant reviews mentioning meals causing illness. Data showed that AI is more than 90% successful at identifying outbreaks of gastrointestinal illness and finding the source of the problem. The technology trawled reviews on the website Yelp and looked for language that indicated symptoms of gastrointestinal illness, such as nausea, diarrhoea and vomiting. “We are constantly looking for new and effective ways to enhance our disease surveillance,” said professor Steven Riley, the chief data officer at UKHSA. “Using AI in this way could soon help us identify the likely source of more foodborne illness outbreaks, in combination with traditional epidemiological methods, to prevent more people becoming sick. Further work is needed before we adopt these methods into our routine approach to tackling foodborne illness outbreaks.” The system is in its early stages and has difficulty understanding and properly processing spelling errors and slang. It is unable to determine when a person was mistaken about the source of their sickness. UKHSA researchers said there are 2.4 million cases of foodborne illness in the UK every year, which costs the economy more than £9bn annually. More than 3,000 reviews were manually assessed by human researchers at the UKHSA, and its findings were compared with AI-powered analysis. Using AI, online reviews were filtered to find relevant keywords that were then further examined for related symptoms.

Liverpool to vote on visitor levy: Liverpool hospitality leaders are set to vote on whether to adopt a proposed £2 a night charge on visitors to the city. Administered and managed by Liverpool’s Accommodation BID, the levy could be in place by June, with its initial term lasting until 2027. The ballot will open on Friday, 27 March, with the results announced on Thursday, 24 April. Annie Brown, general manager at the Municipal Spa Hotel in Liverpool, worked on the Manchester visitor levy as chair of Manchester Accommodation BID. She said: “All UK cities need additional support as funding has changed. When we look at other cities, there has been concern about a visitor levy detracting from investment, but in reality, that hasn’t happened. It’s a small gesture for tourists to pay, and it really helps the city to promote itself. In Manchester we learnt how successful it is to work collaboratively and to work with one aim.” Bill Addy, chief executive of the Liverpool BID Company, added: “Major exhibitions and events, like The Terracotta Warriors, can attract a huge audience, generating income both for the visitor economy, the tourism industry and hospitality. What we would love, as both a city and a private sector, is to be able to support so that we can hold events like this much more regularly. The investment we are proposing could really turbo-charge the city’s economy.” Greater Manchester mayor Andy Burnham has said he wants to see the city centre’s optional city visitor charge replaced by a compulsory fee, but UKHospitality warned any “tourist tax introduced there would harm the city’s visitor economy”. 

Job of the day: COREcruitment is working with a well-established leisure group that operates sites across the south of England and is seeking an operations director to steer the business forward. A COREcruitment spokesperson said: “The position will oversee all 20 sites and will require a high level of knowledge of business strategy, financing, marketing and operations.” The salary is up to £90,000 and the role is based in Kent. For more information, email stuart@corecruitment.com.

Patty & Bun set for restructuring as it files notice of intention to appoint an administrator: Patty & Bun, the better burger concept led by Joe Grossmann, which appointed advisors to explore its strategic options, is set to undergo a restructure after filing a notice of intention to appoint an administrator, Propel has learned. Propel revealed at the start of the year that Patty & Bun, which was founded by Grossmann in 2012, had engaged Williams & Partners to review its options. Patty & Bun currently operates seven restaurants – six in London and one in Brighton – plus three concessions, two with Swingers and one with Lane7. Patty & Bun entered into a company voluntary arrangement (CVA) in summer 2023. With the CVA in place, the company streamlined head office costs, agreed new rent deals with several of its landlords and divested itself of four non-profitable restaurants and closed its prep kitchen. Propel understands that while Patty & Bun continues to operate at a high level of execution in terms of product and standards at site level, due to a combination of covid legacy debt and a constantly inconsistent trading environment, it is unable to continue to make payments into the CVA. Consequently, it is understood that Williams & Partners had been engaged to market the business and assets with a view to a sale by a subsequently appointed administrator. Grossmann told Propel in January: “Following on from the CVA completed in September 2023, we’ve worked hard to strengthen the business. However, the combination of the current macroeconomic environment and the cash flow ‘drag’ from the CVA is proving extremely challenging. In the circumstances, we’ve begun to explore our strategic options.” 

JD Wetherspoon to swap in gourmet range for steak, mixed grills and gammon, new London Bridge site to open this summer: JD Wetherspoon is set to introduce a new “gourmet range” of menu items in May, which are being swapped in for some less popular dishes. The Big Smoke, Buffalo, and Cheese Meltdown burgers will arrive in the group’s pubs on Wednesday, 14 May. It comes as steak, mixed grills, and gammon are scrapped from the menu. As well as a new choice of gourmet burgers, Wetherspoon is offering a range of Korean-style chicken meals. Steak, mixed grills and gammon are all set to be scrapped from the menu after being branded the “biggest loss-makers”. A Wetherspoon spokesperson said: “Wetherspoon is confident its menu provides a variety of choices and value-for-money meals. We appreciate some customers will be disappointed with the decision to remove steaks and grills.” The pub group’s chief executive John Hutson told staff on Friday (14 March) steak, mixed grills and gammon would be disappearing “after much debate” in May following an increase in meat costs. Meanwhile, the company has put a summer opening date on its new site near London Bridge. As revealed by Propel last September, the pub, which will be named The Sun Wharf, will occupy the former London Dungeon space located within the arches at 50 Tooley Street. The addition of The Sun Wharf, which is slated to open on Tuesday, 26 August, will bring a second Wetherspoons pub to the London Bridge area, joining The Pommelers Rest at Tower Bridge.

Fireaway founder – ambition is to expand to 400 sites in the UK and sign further agreements abroad: Mario Aleppo, founder of the fast-growing pizza brand Fireaway has said his ambition is to expand the business to 400 sites in the UK and to sign further agreements abroad. The Times reported that Fireaway, which was launched in south London in 2017, has more than 160 shops, of which 150 are run by franchisees. Four shops are also under construction outside the UK — in the Netherlands, Portugal, Turkey and Dubai — and franchise rights have been sold in Australia, India, France, Spain and the Cayman Islands. In the early days, franchisees found the company through word of mouth, and later Fireaway started taking part in trade shows and advertising. Many of its current franchisees are former owners of Domino’s and Pizza Hut franchises, said Aleppo. In 2023 alone, 48 new shops opened and Aleppo oversaw all of them. He has now stepped back a little from the day-to-day running of the business and appointed a managing director, Anis Hadji, previously the company’s director of distribution. “I’m taking a bit of time for myself because it’s been a crazy few years,” he said. “I’m in about 150 WhatsApp groups for shop openings; I really need to come out of them.” He said the company has not had to raise significant outside investment because the franchise model is not capital intensive. A year and a half ago, however, six shop owners and suppliers each bought 1% of Fireaway, and it also sold a 2.5% stake on the Crowdcube crowdfunding platform last year to 810 small investors — an exercise that valued the business at just over £20m, said Aleppo. He has also gifted shares to four employees, leaving him with a stake of about 90%. Several of the company’s 20 head office staff are former franchisees, and among the 150 franchised shops, only about 10% have changed owners. Aleppo said he has worked hard to keep employees motivated and happy, describing his management style as “probably too nice”.

Phat Buns – ‘UAE just the beginning, we’re going global’: Better burger business Phat Buns has said its forthcoming debut international site in the UAE is “just the beginning” and the business is “going global”. Propel revealed in January that the company, which was founded in 2019 and has grown to 15 UK sites, had lined up an opening in Sharjah for its first foray on the international stage. Hussein Sacranie, who co-founded the business with Ahtesham Moosa, said more countries will be “added to the map” soon. “When we first started Phat Buns, we never imagined that one day we’d take this brand beyond the UK,” he said. “It was just an idea – something we poured our energy, creativity and passion into. And now, seeing Phat Buns go international is a feeling I can’t even put into words. Our first step? Sharjah, UAE. The countdown is on, and I can’t wait to see those first smiles, hear that first crunch, and watch people experience a real smash burger for the first time. But this is just the beginning. Let’s just say more countries are about to be added to the map very soon. Phat Buns is going global.” Phat Buns, which currently has a pipeline that will take it to 20 sites in the UK, most recently launched in Wolverhampton’s Stafford Street and is preparing to open in furthest north site yet, in Liverpool’s Slater Street.

Gaucho – with Gaucho Go the vision is for us to create a QSR brand: Mark Sansom, group marketing director at Gaucho’s parent company Rare Restaurants, has told Propel that the company’s vision for new trial concept Gaucho Go, “is for us to create a quick service restaurant (QSR) brand”. Gaucho will open the first Gaucho Go site, featuring the brand’s signature steak and chips, burgers and new dishes such as a “spin on the classic hot dog”, at the new Boxhall site from Boxpark, which will open in the City on Thursday, 10 April. Sansom told Propel that the Boxhall site is a test case, “though we very much hope it will capture the public's imagination”. He said: “The vision is for us to create a QSR brand with street food inspired by the barrios of Buenos Aires that stays true to the Gaucho identity. Gaucho Go will also be popping up at events and festivals through spring and intro summer – including BST at Hyde Park, the Big Feastival and the new launch, Labyrinth on the Thames. Our Airstream food truck will also be branded in the Gaucho Go livery to serve events around the UK. We will continue to produce pop-up restaurants under the Gaucho banner, like we did at the Cheltenham Festival last week and, for the first time this year, the British Grand Prix at Silverstone and Gaucho Go will complement these. Essentially, if the restaurant has a roof, it's Gaucho. If it's open-air, it will be Gaucho Go.” It marks the first spin-off for the Argentinian steak restaurant group since it launched the now-defunct CAU brand in 2013. CAU at one point grew to 22 sites across the UK. 

Caravan co-founder – management buyout given team wind in our sails: Laura Harper-Hinton, co-founder and chief executive of Caravan, the restaurant group and coffee roastery, has said buying out private equity investor Active Partners has given the management team “wind in our sails”. Propel revealed earlier this month that Caravan had completed a management buyout, which has seen Active Partners exit the business. The Caravan management team, led by Harper-Hinton, alongside fellow co-founders Chris Ammermann and Miles Kirby, now fully owns and controls the business again. Active Partners took a minority stake in the then four-strong Caravan at the start of 2017. Founded in 2009, Caravan currently operates nine all-day dining restaurants, three brew bars and a stand-alone coffee roastery in north London. Last year, the business opened its first restaurant and coffee roastery outside London, with a Manchester launch in the emerging area of St Johns. Harper-Hinton told The Times that taking out the seven-figure bank loan from HSBC to buy back the minority stake held by Active Partners had “helped sharpen the mind”. “The risk is now 100% with us but so is the upside,” said Harper-Hinton. The company is planning to open another UK site by the end of this year. Harper-Hinton said she’s considering further expansion in the capital, but is also looking at “amazing cities outside of London”, as well as international growth. She said the company’s banking facility from HSBC meant it did not need further investment at this time. “We’re not ruling out [taking private equity] again because there are some partners out there who would fit the business really nicely, especially ones that have international expertise,” she said. The three founders invested all of their savings — £57,000 each — in getting the first restaurant in Islington up and running. A tipping point came in 2012, when Caravan opened its flagship site in King’s Cross. It remains the group’s highest volume site, with more than 20,000 covers a month.

Fazenda MD – we believe the market is smart enough to choose the best of the bunch in challenging times: Tomás Maunier, co-founder and managing director of premium casual South American restaurant operator Fazenda has told Propel he believes the market is “smart enough to choose the best of the bunch in challenging times”, and demand across the business is strong. Maunier said “in general, trade has been good across the group, though not as consistent as we would have liked”. He said: “We had a very good start of 2024, as months progressed things got a bit harder, then a strong December and now back to grafting. It's not that much about demand, which by the way has shown some different behaviour in the last 18 months or so, but the costs that our industry has faced and above all is yet to face that are making things hard for most hospitality businesses out there. But in general, we believe the market is smart enough to choose the best out of the bunch in challenging times when it comes to where to dine, and we are pleased to say our demand is strong.” He said the business is still looking at new sites in London, including in Covent Garden. He added: “But it has to be the right site. In today's market all business leaders must be confident that new openings yield the required return on investment. With costs increasing and being absorbed by operators, any risks must be extremely calculated and decisions measured in more detail than before.” It comes as the business, which operates five regional sites across the UK plus one in London, reported turnover of £20,927,896 for the nine-month period to 31 December 2024 (for the year to 31 March 2024: £27,235,164), and a pre-tax loss of £296,564 (for the year to 31 March 2024: pre-tax profit of £814). 

Loungers acquires first site since being taken private: Café bar operator Loungers has acquired its first site since being taken private in a £354.4m deal as it strengthens its presence in its home city of Bristol. The company has added Bocabar in the Paintworks to its portfolio. The venue will shut after 21 years at the end of March and reopen in June as Miro Lounge. The Bocabar in the Paintworks opened in 2004 having grown out of owners Mel and Paul Eavis’ pizzeria and deli Bocacina in nearby Wells Road and the restaurant Bocanova in Colston Street in the city centre. Bocabar in Finzels Reach will remain. The Eavis’ said: “It will be a heartfelt wrench to close Bocabar Paintworks after so many years. Loungers now offers the opportunity for new investment in the building and to make it a sustainable space during these tougher economic times. It also makes us happy that all our lovely team have the opportunity of working at Miro Lounge when it opens. We are very excited about having more time to focus on developing Bocabar Finzels Reach further and having more time for other interests we have.” Loungers head of community, John English, said: “We’ve got big boots to fill but we’re looking forward to opening the doors of Miro Lounge in June. We share many of the values Mel and Paul of Bocabar hold so dear, including a strong sense of community and neighbourhood, excellent food and drink and a passion for top notch hospitality.” Loungers was acquired by US private investment firm Fortress Investment Group last month. Loungers has 287 sites across the UK including 247 Loungers, 36 Cosy Clubs and four under its roadside concept, Brightside.

Amorino set to open at Lakeside shopping centre: Italian gelato brand Amorino is set to open at Lakeside shopping centre, in Essex, for its 35th UK location. The site will be a fourth for franchisees Khawar Hussain and Khurram Hussain, whose 4orty business also owns Amorino locations in Greenwich and Camden in London, and Canterbury in Kent. Khawar Hussain spent the best part of two decades as a director at KFC franchisee Barack Holdings before the eight-strong business was acquired by Tahir Group in 2023. Earlier this month, Propel revealed that Amorino is set to add to its London footprint with an opening in Knightsbridge. Meanwhile, Roman Aslamzada has left his position as head of franchise at Amorino after two years with the business. He has joined Aladdin’s Pizza, which has seven sites in the Midlands, as head of operations and franchising. Aslamzada previously spent more than a decade with Little Dessert Shop in a variety of roles including head of franchise and operations, franchise development and business development.

Costa Coffee and Pizza Hut franchisee reports increase in turnover and drop in profit: Costa Coffee and Pizza Hut franchisee Acca Group has reported an increase in turnover and a drop in profit for the year to 31 March 2024. The company reported turnover of £16,527,295, up from £15,414,197 in 2023. Of this, £9,762,655 came from retail coffee outlets (2023: £8,725,071) and £5,706,089 from retail takeaway outlets (2023: £6,765,639). Pre-tax profit fell from £1,684,272 to £1,420,232. Dividends of £260,000 were paid (2023: £340,000). Director Jeetendar Singh said: “The results of the group shows turnover of £16.53m (2023: £15.41m) and costs of sales of £8.86m, generating a gross margin of 46.38% compared with 45.01% for last year. The group balance sheet shows fixed assets of £16.00m, consisting of tangible fixed assets of £5.60m, investments of £0.55m, investment properties of £10.57m and intangible a negative £0.73m. Current assets were £6.06m (including cash of £1.30m) but with current liabilities of £5.11m, net current assets were £0.94m. Long term liabilities and provisions were £9.10m, leaving group net assets of £7.84m. The directors believe the outlook for the group is strong. The losses sustained in the year, and the net current liabilities at the end of the year, are in line with expectations at this point and the shareholders are fully supportive of the directors’ plan to grow the business.” 

Former McDonald’s operations manager acquires sixth restaurant as franchisee: Former McDonald’s operations manager Haroon “Harry” Rashid has acquired his sixth restaurant as a franchisee for the brand. He has acquired the branch at 772-774 High Road in North Finchley, north London, adding to his other sites across Haringey, Enfield and Barnet. Ffion Williams, franchisee attraction manager for McDonald’s UK & Ireland, said: “Please join me in congratulating one of our amazing franchisees, Harry Rashid, on his well-deserved expansion with the handover of the North Finchley restaurant. This exciting growth further extends Harry’s presence in north London and takes his organisation to six restaurants. Harry started as a trainee manager with McDonald's in 1997, working his way through the management ranks to general manager of Leicester Square before being promoted to operations consultant. He was then promoted to operations manager in 2013 before becoming a franchisee in 2016. Good luck to Harry and his team for restaurant number six.” Rashid operates his restaurants under his Synergy Four Restaurants business, which returned to profit in the year to 31 March 2024. The company turned a pre-tax loss of £194,076 in the period 1 June 2022 to 31 March 2023 into a profit of £467,146. Turnover rose from £13,374,231 to £18,510,125 in the same period, with its sales growth driven by the opening of a new store in the previous year. Interim dividends of £123,000 (2023: £78,000) were paid during the year.

Devonshire Hotels & Restaurants sees reduced occupancy result in revenue falling below budgeted levels: Devonshire Hotels & Restaurants, which operates six hotels as well as restaurants and inns in Yorkshire and Derbyshire and a range of holiday cottages, saw reduced occupancy result in revenue falling below budgeted levels in the year to 31 March 2024. The company’s turnover dipped from £11,625,454 in 2023 to £11,570,287 while pre-tax losses widened from £847,845 to £1,543,140. Director Andrew Lavery said: “Revpar was £120.37 (2023: £121.36), which was 12% below budget (2023: 12% below budget). This decrease is a result of reduced occupancy in the year, which was a key factor in driving the revenue below budgeted levels.” No dividends were paid (2023: nil). Lavery added: “In the 2023-24 year, hospitality was still seeing a softer market place in areas such as casual dining and shorter leisure breaks due to the consumer reducing discretionary spend. Inflation within the cost base continues to be a pressure on the business. This year, we have seen some easing of the inflation on food and beverage costs. However, the pressure on the staffing costs still remains. This year has seen the business successfully move away from a reliance on agency staff and see the benefits of recently established training programmes, which have seen a number of internal promotions reducing the reliance on recruitment agencies. Our strategy to improve our existing portfolio continues, with the Cavendish in Baslow completing its full refurbishment programme. Projects to grow existing capacity continue to be developed, with additional rooms planned at the Devonshire Fell and the Devonshire Arms in Pilsley.” Post year end, in November 2024, the group acquired the Premier Inn Chesterfield West hotel and Highwayman Beefeater restaurant, located in the Derbyshire village of Eastmoor, off Whitbread for an undisclosed sum.

Cardiff Turkish restaurant concept opens second site: Cardiff Turkish restaurant concept Longa has opened its second site. Longa, which was founded in 2019 by sisters Gizem Yorgun and Simge Yalcin, now operates with three women at the helm after actress Pinar Ogun joined the business in 2023. Longa, which “celebrates the rich, diverse flavours of Turkish cuisine”, opened its first restaurant in the Whitchurch area of the capital in 2019. Now the business has added an outlet in Park Place to its portfolio. Longa’s new venture has been backed with a £120,000 finance package from BCRS Business Loans, via the British Business Bank’s £130m Investment Fund for Wales, and Community Investment Enterprise Fund, managed by Social Investment Scotland. Simge said: “Our Whitchurch Road café has been a great success and we knew it was only a matter of time before we dipped our toes into the possibility of opening a second restaurant, but we needed to find the perfect premises. When we saw the space in Park Place we knew that it was perfect, but with spiralling costs, due to changes in construction and building quotes, we needed further support to realise our dreams.”

 

The Culpeper head chef set to open wine bar and French restaurant in London’s Soho: Giacomo Peretti, head chef at The Culpeper in London’s Commercial Street, is set to open a wine bar and French restaurant in Soho. Peretti, whose recent roles also include head chef at Firebird and Temper, has partnered with Michael Searle and Josh Anderson for Marjorie’s, which will open at 26 Foubert’s Place in May. Named after Searle’s late grandmother, the venue will be split across two levels of the former Kua ‘Aina poké site (ground floor and basement), with just under 50 covers. Open every day for lunch and dinner, the venue will offer a “modern take on French cuisine” while “still respecting classic technique”, reports Hot Dinners. Dishes will include chicken liver rocher, hazelnut and morello; fried courgette, rouille and trout roe; escargot, seaweed and pine nut cream; and crab tart with crab bisque. An all-French wine list will feature contemporary and small-batch producers from across the country. “We’ve always been completely inspired by the ‘bar à vins’ of Paris’ outer arrondissements, where young Parisian chefs and restaurateurs work hard to show a contemporary edge to French cuisine,” Searle said. “There's an edge to this certain style of wine bar that offers food and wine of exceptional quality in a totally laid back, laissez-faire style, almost saying that top-quality food and wine should be a given.”

 

North Yorkshire hotel falls into administration: North Yorkshire hotel The Feversham Arms Hotel has fallen into administration. Oliver Collinge and James Sleight, of PKF Littlejohn Advisory, have been appointed joint administrators of the premises in Helmsley. The hotel continues to operate as normal under the control of the administrators, and will shortly be put on the market. All hotel staff are being retained, and no redundancies are planned. The hotel has 33 guest rooms, a luxury spa and a range of upscale dining experiences. Collinge said: “All deposits paid and bookings already made, including for events, will be honoured and will go ahead unaffected and as planned. Similarly, any vouchers that people have for use at the venue can be used as normal. The hotel will continue to take bookings for future events and sell vouchers as normal. These will be ringfenced to provide assurance to guests and customers. It’s very important to us that the hotel should continue to provide the high standards of service that guests are accustomed to. The Feversham is a stunning hotel in a beautiful location. We anticipate especially strong interest and we’re very confident of finding a buyer and securing the long-term future of the hotel and its team.”

 

London’s Sloane Square Hotel set to open 1970s and 1980s-inspired speakeasy bar in its basement: London’s Sloane Square Hotel is set to open a 1970s and 1980s-inspired speakeasy bar in its basement. The Knox will be accessed through a secret passageway and will “immerse its guests in an era reminiscent of Miami Vice and Studio 54”. Previously a nightclub, the space has been revamped into an intimate bar featuring cocktail trains, a vintage phone exchange and bartenders dressed in glittering jumpsuits. The Knox will serve classic cocktails with a twist alongside bar food and there will be a rotating residency of vinyl DJs, with plans for cocktail workshops and private hire opportunities. The Knox’s managing director, Heather Hamilton, said: “We are excited to launch our new late-night bar, bringing another layer to our offering at Sloane Square Hotel and a cool new hotspot to Chelsea.” Dating to the 1890s, the hotel was bought by hotelier John Tham, former managing director of the Clivedon Hotel, in 2005 and given its current name.