Wenzel’s insists no redundancies or store closures expected after winding up order issued: Wenzel’s has insisted it expects to make no redundancies or store closures  after a winding up order was issued against the company. The Daily Mail reports that a hearing, which currently has no set date, will decide whether the winding up order will be granted. Wenzel’s currently has 109 stores in the UK, mainly in London and the Home Counties, with some as far afield as Dorset. It comes just over a year after the firm, which was set up in London 50 years ago, announced plans to expand by opening new stores across southern England. But since then, it has seen profits drop, with its most recent published accounts revealing a £4m decrease. Its accounts for the year to 31 March 2023 showed a pre-tax profit of £1,644,728, down from £5,584,034 in 2022. Its turnover had risen from £55,919,493 in 2022 to £61,431,678 but costs rose by more than £3m and administration expenses were up by more than £6m. In his statement accompanying the accounts, director Peter Wenzel said: “In order to meet increasing demand for our products we have opened 13 new shops this year taking our total number of shops to 102 at the year end. During the year we invested into our Head office and Bakery in order to be able to service the opening of more shops in the coming years. The directors are pleased with the results for the year, as reported in these financial statements, with increases in KPIs.” Since those accounts were published, three company directors have left the firm. The company has until March 31, 2025, to submit its latest annual report and financial statements. Karl Spinks, chief operating officer at Wenzel’s, told the newspaper: “The winding up notice is in relation to ongoing discussions with HMRC regarding an outstanding balance. However, we are actively engaged with HMRC and expect this matter to be resolved shortly. We do not expect any redundancies; we do not expect any store closures.” In April 2024, Wenzel’s said it had lined up new openings across southern England as it looks to grow further nationally. Spinks said at the time: “This is an exciting time for Wenzel's as we continue to grow and bring our fresh, quality products to more locations across the UK.” The expansion plans came as the company rolled out a campaign of price drops and multi-buy offers, including a baguette meal deal for £5.85, a hot drink paired with a sausage roll at £2.99, and a hot drink with a doughnut for £2.99.

Cake Box completes Ambala Foods acquisition: Cake Box, the specialist retailer of fresh cream cakes, has completed its deal to acquire Ambala Foods – a leading manufacturer and retailer of Asian sweets. Cake Box earlier this month announced it has agreed to acquire Ambala for an aggregate consideration of £22m. The deal price consists of £16m for Ambala and £6m for Ambala’s manufacturing facility located in Welwyn Garden City. The company said the deal has now completed. Ambala currently operates 22 stores, with 19 owned stores and three franchised stores, and has been family-run since inception. Sukh Chamdal, chief executive of Cake Box, said at the time of agreeing the deal: “We are pleased to announce the acquisition of Ambala Foods Ltd, a leading manufacturer and retailer of Asian confectionery in the UK since 1964. This strategic acquisition represents a significant opportunity to leverage the strengths of both brands to expand our market presence and accelerate our growth. Ambala’s rich heritage and established customer base complement Cake Box’s values and commitment to quality and innovation. By adding Cake Box’s expertise and resources to Ambala, we aim to create a unique blend of traditional and contemporary delicacies that appeal to a diverse audience, ultimately driving growth and profitability. We are confident that this acquisition will resonate with Cake Box’s existing customer base and to its commitment to quality products and customer service.”

Sir Andy Murray’s hotel narrows losses: A hotel owned by Sir Andy Murray and his wife has narrowed its losses. One of the former world number one’s post tennis ventures is Cromlix, a luxury hotel located near the area of Dunblane, where the two-time Olympic gold medallist and Wimbledon champion had grown up. Murray and his wife Kim purchased the Victorian country house in 2012 for £1.8m and immediately set about renovating the hotel to its former glory, reports the Daily Mail. Situated on 34 acres in the Stirlingshire countryside, the destination now boasts ten bedrooms, five suites and a one-bedroom lodge, along with a private chapel, tennis court, pickleball court and an on-site restaurant – with stays often costing in excess of £700 per night. According to its latest accounts, Cromlix LLP posted losses of £369,045 for the year to 31 March 31 2024, compared to £919,572 in 2023. The company told the newspaper: “Cromlix had another exceptional 12 months in 2024 following the hotel’s total refurbishment the previous year. The hotel continues to enjoy high occupancy rates throughout the year and a busy restaurant and events business. Cromlix was also the recipient of a number of high-profile accolades including a Michelin key, AA Hotel of the Year Scotland 2024 and Independent Hotel of the Year in the Scottish Excellence Awards 2024. There has been continued investment throughout 2024 which will not only drive continued growth of the business, but future-proof it as it expands against the many challenges facing the hospitality industry.”

 

Martinis shaking things up in London’s cocktail scene: For most people, the martini will forever be associated with James Bond. But while the drink may feel like something from a bygone era, it is making a comeback in London’s cocktail scene. Drinks experts say the martini is reaching new audiences because drinkers are getting tired of “fruit-laden cocktails that take forever to make”, reports The Times. Such is the revival in interest that The Dover in Mayfair has introduced a martini-only menu. Martin Kuczmarski, who runs the venue, says people have become “tired of loud, overcomplicated bars”. They want something that is simple, quick and can be trusted but still feels glamorous, elegant and has a sense of ceremony about it,” he told SheerLuxe magazine. His martini menu includes multiple variations of the drink including the Gibson, which is garnished with pickled onion, as well as the Hot and Dirty, which is mixed with chilli and olive brine. Other bars are also experimenting with different styles of martini to cater to the demand. The Three Sheets bar in Dalston serves what it calls an Aegean Martini which contains lemon, fig leaf and Picpoul, while the martini at the Kol bar serves its marining with pine distillate and cucumber. Olivier Ward, the founder of Everglow Spirits, a consultancy firm, says cocktail culture is moving towards “drier, spirit forward” drinks. He said: “This plays into what the martini delivers in every sip, and part of the reason it’s resurging. So does the fact that people want less but better with all of their booze choices. Smaller serves but higher quality seems to be the direction of travel.” Cameron Attfield, who was named bartender of the year in 2019, added: “Discerning imbibers are no longer looking for big, bold flavours but more of a simple well-defined approach focusing on high quality, minimal interaction and clean flavours. A well-done martini can be the cleanest, most refined drink, which can be enjoyed pre, post or even with dinner.”

UK workers spending average of two days a week in the office: Five years on from the first coronavirus lockdown, workers in the UK are spending two days a week on average in the office, according to a survey of conducted by property agent JLL. That is about half as many days as before the pandemic but is still more than most Brits would like. On average UK workers want to be going into the office about 1.5 days per week, the survey found. Filipino workers, the most office-shy in the world, are going in 1.4 days per week, on average, while Kuwait is leading the way in the post-pandemic return to the office, with staff working from their company’s offices for 4.2 days a week. “Over the past few years, we had achieved a reasonable equilibrium in the workplace – a balance between employer expectations and employee flexibility,” Sue Asprey Price, JLL’s European head of work dynamics, said. “However, the recent emphasis on stricter return-to-office policies means this balance is now being re-examined by many employers.” JLL’s survey shows that globally the youngest workers, those under 24, are more likely to be in the office more often than their older colleagues, going in 3.1 days a week on average. There is little difference between other age groups, with most other employees working from the office about 2.5 days per week. Asprey Price said the findings show that a “significant generational divide has emerged”. She added: “Lockdowns shaped a whole generation of younger workers who spent their later education and early working lives without the cultural, social and professional benefits that being with other people can bring. We’re now seeing a big reaction from that generation, with being in the office key to their experience of happy and fulfilling work.”