Prezzo
Coverage tracks the trading performance, estate strategy, and brand repositioning of one of the UK’s longest-standing Italian casual dining chains. Reporting includes restaurant closures, CVA processes, delivery and takeaway development, new menu formats, pricing strategy, and brand updates under current ownership. Insight is tailored for operators and suppliers monitoring mid-market high street dining, turnaround plans, and consumer appetite for affordable, family-friendly Italian concepts.
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Jul- 2018 -3 JulyBusiness
Restaurant CVAs rise by 143% over six months
New research has found the number of restaurants entering a company voluntary agreement (CVA) has increased by 143% over the last six months compared with the previous period. Data analysed by law firm Linklaters shows that there were 12 CVAs in the first quarter of this year. This compares to…
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Jun- 2018 -27 JuneCafes and Coffee Shops
Costa Coffee sales dip 2% in Q1
Coffee chain Costa has reported a fall in like-for-like sales at the start of the year, blaming a lack of shoppers on the high street. Although total UK sales grew by 5.2% due to new store openings, according to Costa owner Whitbread, the UK’s biggest coffee chain revealed a 2%…
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21 JunePeople
Prescott and Conran falls into administration
The restaurant group founded by Habitat owner Sir Terence Conran – Prescott and Conran – has fallen into administration. The three remaining London outlets of Prescott and Conran – Parabola in Kensington, Lutyens on Fleet Street and Albion in Clerkenwell – have shuttered putting 168 jobs at risk The restaurant…
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7 JunePubs and Bars
Mardi Gras pub in doubt as annual rent doubles
JD Wetherspoon’s Mardi Gras pub in Trafford Centre in Manchester faces an uncertain future as a rent review has shown an annual increase of almost 100%. F&B chains that took sites at inflated rents led to the increase, said Tim Martin, JD Wetherspoon’s chairman and founder. His firm had initially…
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May- 2018 -17 MayBusiness
Carluccio’s to address CVA rumours ‘this afternoon’
Italian restaurant chain Carluccio will issue a statement this afternoon regarding rumours of a potential company voluntary agreement (CVA), Catering Today can reveal. Accountancy firm KPMG is rumoured to be overseeing the restructuring of the business and did not deny the rumours when asked by Catering Today. The work would…
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15 MayRestaurants
Number of restaurants in England up 13% since the recession
The number of restaurants in England has increased by 13% since the recession – from 22,230 in 2009 to 25,070 in 2018, says peer-to-peer lending platform, Lendy. Lendy says the sharp rise highlights just how intense competition in the UK restaurant market has become, as recent years have seen rapid…
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3 MayBusiness
Pizza Express turnover up by 6.3%
Pizza Express has announced a turnover of £534.2m for the year, a 6.3% increase on last year’s results. Like-for-like sales for the group, which exclude new store openings and store closures, also increased, by of 1.4%. The pizza chain opened 27 new restaurants of their own overseas last year, with…
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Apr- 2018 -24 AprilPeople
Prezzo CEO steps down after closing a third of outlets
Jon Hendry-Pickup has stepped down from his role as the CEO of Prezzo, following the chain’s CVA agreement. Hendry-Pickup joined the group in 2016 and Karen Jones will take over his position, following her appointment as executive chairwoman. Jones was the former chief executive of pub company Spirit Group. In…
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19 AprilAdvice
How to retain personality as your brand grows
Despite the volatility in the F&B market, casual dining brands are still on the rise. The UK diner has become well accustomed to chain concepts, as operators have effectively ‘cut and pasted’ proven formulas all over the UK. The consumer knows just what to expect on every visit. But how…
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16 AprilBusiness
High street collapse down to higher business rates, says Colliers
Fifteen major retailers or restaurant groups have gone into CVA or administration in the twelve months since the April 2017 Business Rates Revaluation, according to Colliers International, the global commercial real estate agency and consultancy. Ten of those have happened since the beginning of this year – in the last…
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