Mitchells & Butlers: All Bar One owner toasts ‘record year’ despite battling high costs November 30, 2023 All Bar One owner Mitchells and Butlers (M&B) said that like for like sales grew to a record 9.1 per cent during the full year, as the chain toasts a strong performance. The no frills dining and pub chain, which also owns Toby Carvery, said that adjusted operating profit increased by 17.6 per cent, despite [...]
Oxford Street: Derelict House of Fraser site to get £132m revamp – with new offices and a swimming pool February 15, 2024 House of Fraser’s former flagship site on Oxford Street is set to undergo a £132m transformation, which will bring new offices and a swimming pool to the retail drag.
Exclusive: Tao Group to open its first UK venture at new Marylebone hotel June 6, 2023 Hakkasan owner Tao Group Hospitality will launch its first new UK restaurant at the new The BoTree hotel in Marylebone, which is set to open its doors this summer. The hospitality offering will include flagship restaurant Lavo, which will serve “coastal Italian fare” as well as a more casual dining option and bars. New York-based [...]
Loss-making Dim T and Wildwood restaurants to close as owner Tasty bids to avoid collapse April 9, 2024 Tasty plc, the restaurant group behind the Dim T and Wildwood brands, is looking to close 20 of its sites and secure new funding in order to avoid collapsing.
Wetherspoon boss Tim Martin slashes prices in tax battle with supermarkets September 4, 2023 Tim Martin has warned that the biggest threat to the hospitality industry is the “vast disparity” in tax treatment
Hammerson: Shopping centre giant secures refinancing for leading Dublin retail hub August 14, 2024 Shopping centre giant Hammerson arranged a €350m (£300m) loan for one of Ireland’s leading retail destinations, Dundrum Town Centre. The deal has been agreed with Pimco Real Estate, with its existing loan due to mature next month. Hammerson’s share of the new loan, which is repayable by September 2031, was €175m (£150m) with lenders for [...]
Wagamama owner enjoys sales rebound but warns of ‘uncertain’ consumer environment September 8, 2022 The owner of the Wagamama restaurant group has seen sales surge in its half-year results, as an “uncertain consumer environment” looms. The Restaurant Group said total sales hit £423.4m in the 26-week period to 3 July, versus £216.8m in 2021. Diners returned to the group’s restaurants and pubs after the easing of Covid restrictions, with [...]
Gaucho boss: Restaurant menus featuring more seasonal produce could be ‘silver lining’ of high inflation September 12, 2022 Restaurants shifting to more seasonal menus may be the “silver lining” of sky-rocketing food prices, Gaucho boss Martin Williams has said. Hospitality venues have been forced to grapple with heightened prices for vegetables and proteins this year, in addition to energy bill increases that bosses say pose an existential threat to the sector. However, the [...]
Wetherspoon boss Tim Martin lashes out at ‘vast disparity in VAT treatment’ between pubs and supermarket alcohol sales January 25, 2023 Wetherspoon boss Tim Martin has launched a scathing attack on the government, saying the biggest threat to pubs is the “vast disparity in tax treatment” compared to restaurants and supermarkets. The outspoken chain boss said he was “cautiously optimistic” for the financial year ahead, as the firm published its like-for-like sales in the 25 weeks [...]
Gail’s owners plot to put posh coffee shop on the market March 24, 2024 Owners of posh coffee shop Gail’s are preparing to hire advisers for a sale which would value the business well over the £200m price tag it sold for three years ago.