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Rhubarb Hospitality appoints new executive chef of events

Rhubarb Hospitality Collection (RHC) has announced the appointment of Kieran Reilly as its new executive chef of events.  Reilly brings a wealth of experience in luxury hospitality and event catering, having most recently served as culinary director at Rocket Food.  Prior to that role, he was executive chef at Lush…

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Caffé Nero sales jump 13.6% in H1

The Nero group has reported a “record” sales growth of 13.6% for the first half of its financial year ended in November 2024.  At group level, sales reached £310m, underpinned by an 8% increase in like-for-like sales. In the UK, Caffé Nero reported sales of £185.4m for the first half…

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Today’s news in brief – 22/08/24

Punch Pubs and Co has named Andy Spencer its new CEO, effective from 27 September. It comes after current CEO Clive Chesser will be moving on to the same role at the Pure Gym Group after six years at the pub operator. Spencer has over 20 years of experience in…

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Boston Tea Party FY sales fall 5% to £21.7m

Independent café group, Boston Tea Party, has reported a 5% drop in net sales to £21.7m from £22.9m during the year to 18 October 2023.  The company has attributed its performance to the long-term negative effects on the high street, post-pandemic changes to work patterns which have impacted footfall, as…

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Loungers revenues jump 24.7% to £353.5m in FY24

Loungers revenues were up 24.7% to £353.5m during the 53 weeks ended 21 April 2024. Excluding the benefit of the 53rd week total sales were up 22.2%. This sales performance reflects both continuing “strong” like-for-like sales growth (7.5% across the 53 weeks) and the ongoing success of the operator’s new…

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Caffè Nero H1 sales rise 17% to £265m

The Caffè Nero Group has today (13 February) announced “strong trading” for the first half of 2024, including sales growth of 17% over the same period last year. At group level, the business revealed sales for H1 2024 of £265m, an increase of 10% in like for like sales. In…

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Nando’s revenues hit £1.2bn in FY23

Nando’s has reported that revenues increased to £1.2bn for the year ending February 2023 with sales for the group in excess of pre-pandemic levels.  Operating profit for the company returned to £17m for the first time since 2020 as margin on returning sales exceeded its fixed operating costs. The group…

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Loungers appoints new Cosy Club MD

The operator of Cosy Club and Brightside brands, Loungers, has announced the appointment of Lucy Knowles as the new managing director of Cosy Club effective from September.  Prior to her appointment, Knowles was the managing director of London-based bar chain Corney and Barrow, later joining SSP as group marketing director. …

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Buyout firms eye joint Subway bid

Some of the world’s biggest buyout firms are exploring the possibility of a joint bid for Subway for around $10bn (£8.3bn), according to Sky News. Advent International, Bain Capital and TPG are considering teaming up in a so-called “club deal” as the second round of bidding comes to a close.…

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Goldman Sachs amongst bidders for Subway

An arm of Goldman Sachs is amongst potential bidders to acquire Subway after the business was put on sale, according to Sky News.  Sources said that the Goldman Sachs Asset Management (GSAM) joins Bain Capital, TPG and Asda shareholder TDR Capital as potential new owners of the business, all of…

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