06/12/2022 09:35:00
ETM Group has secured over £11m of funding from ThinCats, the alternative lender to mid-sized SMEs. This funding has enabled the Ed Martin-led group to refinance the entirety of its bank loans, as well as provide suitable working capital headroom to underpin further organic growth. ETM, founded in 2000, has transformed from a group of city gastropubs into a collection of eclectic venues across London. Pub & Bar reports that the business currently operates 12 sites.
Award-winning pubco Punch Pubs has launched a new cafe, bar and co-working space alongside one of its existing pubs in London. The new operation, FAIM, sits next to the Square Tavern near Euston station and aims to tap into demand for the hybrid working lifestyles and allow people a great space to work away from the home and office, advises Morning Advertiser. The site, which is run under the company's managed partners model, offer a social space, alongside working desk space, meeting rooms and a hot desk offer.
Pubs and breweries will face major financial losses, make no profit and many will be forced to shut if the energy bill relief scheme is not extended for them beyond 31 March 2023, new research has found. In a new report by Frontier Economics, produced for the British Beer and Pub Association (BBPA), calculations showed energy bills returning to their regular rate post-March would put pubs and brewers at a loss of 20% on average. The Caterer advises that that the report showed energy costs were the biggest threat to their viability. This was on top of cost inflation across other parts of their businesses, from food and drink to key commodities and wage rises contributing to profit margins being erased.
Lucky Voice, the pioneering social entertainment brand, has announced the opening of a new site in London's Liverpool Street as part of a major programme of growth and investment, as it looks to double the size of its estate over the next two years, reports Hospitality & Catering News. The venue - due to open on 29th January 2023 - joins Lucky Voice's popular sites in Soho, Islington and Holborn in London, as well as Brighton and Dubai, and forms part of its plans to grow to 10 owner-operated venues by the end of 2024.
The UK hotel market has continued its recovery, delivering a strong trading performance, a new report has found. This comes despite continued challenging market conditions including accelerating costs causing profit margins to decline, according to the latest UK Hotel Trading Performance Review 2022 reports Property Week.
A whopping 9.2m pints were sold across the UK last Tuesday (29 November) at the World Cup group final, according to The Oxford Partnership. This worked out to be 300 pints on average at every pub, the market intelligence business revealed. This was an extra 136 pints compared to a typical Tuesday report Morning Advertiser.