23/04/2024 10:34:00
The London operator behind venues such as The Libertine, The Prince and Pergola on the Wharf has announced a partnership with the new Olympia development in West London. Incipio Group has said it will bring an elevated F&B offer to the £1.3bn Olympia 14-acre development that is being spearheaded by Yoo Capital and Deutsche Finance International. The project, which will open in summer 2025, sees the transformation of Olympia, a historic site that boasts a legacy of 137 years, advises Pub & Bar. Incipio Group, which previously ran Pergola Olympia in the space, will command 39,000 sq ft across the development, introducing several concepts ranging from casual 'grab and go' offers to premium dining and drinking experiences.
Loungers has accelerated its site rollout, with an opening every 10 days so far this year, reports The Caterer. The operator of the Lounge, Cosy Club and Brightside brands bolstered its senior leadership team earlier this month, with three new appointments made to support the continued growth of the business. Since the start of 2024, the group has opened new Lounges in Bromsgrove, Chepstow, Macclesfield, Westwood Cross, Bracknell, Ilkley, Sidcup and Yeovil. Each site equates to a £1m investment into the local high street with an average of 30 new job opportunities, the group said.
New data claims the number of craft breweries entering insolvency almost doubled in 2023. Surging interest rates and weak demand for premium brands led to the collapse of 52 craft breweries compared to 35 in 2022, according to accountancy firm Price Bailey, which obtained the data from the Insolvency Service under the Freedom of Information Act. The accountant said may breweries rely on debt to finance the acquisition of equipment, raw materials and day-to-day operating costs. As debt payments have risen with each interest rate hike, an increasing number of breweries have been unable to make payments on loans, pushing them into insolvency, reports Morning Advertiser.
The Lifeboat Inn and The Chequers Inn in the North Norfolk coastal village of Thornham have become the latest acquisitions for Chestnut. Hospitality & Catering News reports that the acquisitions accelerate Chestnut's foothold in the region, through the addition of a further 28 bedrooms - with the opportunity to add more. A 27% increase in the number of overnight stays going into 2023, according to data from Visit North Norfolk, highlighted increasing demands from tourists for accommodation in the area. The Group recently hired Rob Spillings as Head of Operations Norfolk to help drive the expanding business. The Maltings, Chestnut's largest development project to date - a 28 bedroomed hotel in Weybourne (near Blakeney) with a barn style restaurant and bar overlooking the sea will open in summer 2024.
A London pub group is expanding its estate with the opening of its 11th site, this time heading to north London's Camden. Marylebone Leisure Group will open the new late night pub concept Lock Inn Camden on Jamestown Road in the very near future. Overseen by founder Lawrence Santi, Lock Inn Camden joins Marylebone Leisure Group's other London sites The Princess of Wales, The Marylebone, Clerkenwell & Social, Home Marylebone and Marylebone Live, advises Pub & Bar.
The Restaurant reports that Estrella Damm is to open a UK brewery, marking the first time the Spanish beer will made outside the Iberian Peninsula in its 150-year history. The Times reports that Damm, the beer producer behind Estrella Damm, is investing €60m (£50m) in building a state-of-the-art brewery in Bedford. Details published by law firm Taylor Wessing reveals that Damm has acquired the Eagle Brewery site, which was previously owned by Carlsberg Marston. A spokesman for Damm told The Times: "The UK is the most important market for Estrella Damm outside its home country. This investment in Bedford, where we will be producing some formats, reflects our long-term commitment to the country and our devotion to UK consumers. Bedford is strategically located with the UK. Its proximity to London makes the location very attractive for us."
Gordon Ramsay firm secures court possession order for squatter-occupied pub, advises Caterer Licensee Hotelier News.