Loungers, the Bristol-based cafe/bar group, has reported a 52% rise in EBITDA before central overheads to £6.7m in the year to 27 April as it invested £6.9m opening 12 sites in the period. Turnover for the Piper Private Equity backed group increased 52.3% to £33.7m with company EBITDA (before exceptional and pre-opening costs) increasing from £2.9m to £4.4m. Like-for-like … [Read more...]
Turn over a New Leaf with All Bar One at the O2
In celebration of the highly anticipated three-floor All Bar One launching at The O2 this July, the group have installed a pop-up vineyard set across the venue frontage. On display from now until the official opening on Wednesday 2 July, The O2 visitors and locals alike have the chance to unearth incredible offers and prizes exclusive to the new bar and restaurant. Under … [Read more...]
Pizza Express takes Summer On! tour across the UK
Pizza Express is going back to its musical roots. Almost half a century since it opened its jazz club on Soho’s Dean Street, which provided a stage for rising stars including Amy Winehouse and Jamie Cullum, PizzaExpress is taking the winning formula of food and music on tour. The Summer On! tour will see specially formed band, The Dough Ballers, perform in nine locations … [Read more...]
M&B acquires majority of Orchid for £266 million
Mitchells & Butlers plc, the UK's largest operator of managed pubs and restaurants, announces 16 June that it has acquired the majority of the activities of the Orchid Group, including 173 predominantly freehold pubs and the Orchid head office. The purchase price, paid entirely in cash, is £266 million. Highlights High quality, well-located estate of 173 pubs, of … [Read more...]
Gordon Ramsay presses ahead with expansion
Despite sales rising to £44.7 million in the year to August 2013, Gordon Ramsay’s restaurant empire is reported elsewhere to have suffered a significant loss for the year, the result of substantial legal costs and problems at the York & Albany pub and hotel in North London. Nonetheless, the Group is now planning to open a string of restaurants in Asia, nor is it standing … [Read more...]