Revolution Bars has ended its formal sales process after it did not receive any proposals relating to the acquisition of the entire issued and to be issued share capital of the company. It comes just days after the company turned down what it called a “highly conditional” offer from rival Nightcap. As a result, Revolution is now pushing ahead with a plan to restructure certain liabilities. Nine in 10 hospitality operators say reduced VAT holds the key to their survival, according to a survey conducted by Interpath Advisory and the Restaurants Association of Ireland (RAI). The survey revealed t ..read more

More than nine-in-10 respondents have said that the reduced VAT rate of 9% for the food-led hospitality sector, which increased to 13.5% last September, had been critical to the survival of their business, according to a new survey conducted by Interpath Advisory and the Restaurants Association of Ireland (RAI). The survey revealed that confidence across the restaurant industry is being tested as more than half (51.2%) of respondents expect their revenues will decrease over the coming 12 months and the vast majority (90.7%) said that their profits would likely fall. The pessimism could also im ..read more

Revolution Bars has announced that it has ended its formal sales process after it did not receive any proposals relating to the acquisition of the entire issued and to be issued share capital of the company. It comes just days after the company turned down what it called a “highly conditional” offer from rival Nightcap. The company held an exploratory meeting with Nightcap regarding a range of possible transactions, including a possible offer for the entire ordinary share capital of the group. As a result Revolution is now pushing ahead with a restructuring plan to restructure certain liabilit ..read more

Red Oak has announced the acquisition of 19 tied tenanted pubs from Marston’s, marking the third transaction between the two companies in the last 15 months.  With this latest acquisition, Red Oak’s portfolio has now grown to 246 pubs. This strategic acquisition further strengthens Red Oak’s relationship with Marston’s, bringing the total number of pubs acquired from them to 26. The previous two transactions involved free of tie pubs, showcasing Red Oak’s approach to flexibly running pubs on either a tied or free of tie basis. Mark Grunnell, co-founder and chief executive of Red Oak, said ..read more

Natural fast food chain, Leon, has announced the launch of Roast Rewards, which it claims to be the UK’s “cheapest” high street coffee subscription.   For £25 a month, Roast Rewards will allow customers to purchase up to five barista-made drinks a day.  The new subscription will also offer a 20% discount on Leon’s breakfast and all-day food menu, excluding meal deals.  Meanwhile, Roast Rewards members will be racking up bonus loyalty points, which are awarded upon subscribing and on each renewal.  Leon’s launch comes as coffee drinkers “continue to seek convenience and ..read more

For most of us in hospitality: the last nine to 12 months have been very challenging indeed. One well known operator said to me recently that these were the worst trading conditions he had encountered in 40 years. My hospitality career nowhere near stretches that long, but I agree with the broad sentiment. There have been volatile trading conditions, to say the very least. If the Covid lockdowns and Brexit labour shortages were not bad enough, then along came the perfect storm of near Argentinian energy inflation, followed by interest rate hikes, and consequently, a cost-of-living crisis. Most ..read more

Top UK restaurants saw takeaway sales rise 4.5% year-on-year. CGA’s latest Hospitality at Home Tracker found that strong like-for-like trading is nearly double the country’s 2.3% rate of inflation in the year to April, as measured by the Consumer Price Index. Deliveries also attracted 57.9% of all at-home orders by volume in April. Alex Young and George de Vos will open three new hospitality venues in Islington – restaurant Goodbye Horses, coffee shop and garden Day Trip, and gelateria The Dreamery. All three sites are due to open on Halliford Street between July and August 2024.  El Ceno ..read more

El Cenote, a new cocktail bar with a food menu in Camden, has officially opened. The new venture is being led by Aima Indigo, who has worked at venues such as La Bodega Negra and Mestizo Chelsea. The kitchen is led by chef Daniel Sanchez, a native of Mexico City, where he honed his skills. In London, he has worked at establishments such as Mexcalito and Chingon Tacos and helped open Ella Canta with Marta Ortiz. The menu will offer a number of different types of tacos including Cochinita Pipil Tacos as well as various vegetarian options. Indigo said: “I am thrilled to bring the vibrancy and lay ..read more

The Dolphin, in the heart of Newbury, has secured seasoned chef Auror Kalivaci and his team as new tenants.  Kalivaci and his team are eager to infuse their expertise and passion for food into this pub and they aim to create a new dining experience that caters to the diverse tastes of Newbury’s residents and visitors. Situated in central Newbury, The Dolphin boasts not only a “vibrant atmosphere” but also letting rooms, further enriching its fame as a destination of choice for both locals and travellers.  Regarding the news, Kalivaci said: “The decision to leave the bustling city lif ..read more

The UK’s top restaurant groups have achieved year-on-year growth of 4.5% in delivery and takeaway sales in April, according to CGA by NIQ’s latest Hospitality at Home Tracker.   This strong like-for-like trading is nearly double the country’s 2.3% rate of inflation in the year to April, as measured by the Consumer Prices Index.  The tracker’s results also show the 11th consecutive month of year-on-year growth, and its highest figure of 2024 so far. The rate is also well above the separate CGA RSM Hospitality Business Tracker, which records sales across a different cohort of mana ..read more