Today’s news in brief – 22/09/23

Comptoir Libanais reported revenues of £14.8m for the six months ending 2 July, a 2.1% increase. However, adjusted EBITDA profits were down 73.7% from 2022 levels to £1m due to challenges in the trading environment. Like-for-like sales increased by 6%, with dine-in sales growing by 8.1%. Delivery sales declined in H1 compared with the Covid-affected years. Despite challenges, the group opened a new site in Ealing and agreed to terms for two more, including a flagship restaurant set to open in 2024.

JD Wetherspoon has listed 11 pubs for sale across England and Wales. The pubs will remain open until sold, with the company having previously sold or closed 28 pubs. Currently, 15 pubs are under offer. Savills’ Paul Breen noted that the pubs are likely to appeal to a wide range of buyers, while CBRE’s Toby Hall highlighted their established and proven trading locations. JD Wetherspoon is also investing in refurbishments, redevelopments, and new pubs and hotels, totaling approximately £100m.

Fast food business Yolk is raising capital through private equity firm Growthdeck to expand across London. Yolk, which currently operates five sites, offers sandwiches, aims to provide a “revolutionary improvement” in grab-and-go lunch options in London, targeting over 25 sites within the next three financial years. Yolk’s success as a weekend pop-up led to the expansion of permanent locations across the city, and it plans to continue growing in response to favourable market conditions.

Hydes Brewery has appointed Michaela Shaw as the head chef for The Harry Beswick, a premium dining pub set to open in Heswall in the autumn. The appointment follows Hydes’ acquisition of the historic police station in Heswall, which underwent a £2.3m refurbishment. The Harry Beswick is the brewery’s first property acquisition in over five years and is expected to create up to 40 jobs in the area.