09/09/2025 10:12:00
JD Wetherspoon has signed a franchise agreement with family-owned business, the Papas Group, taking on 15 new sites, reports the Morning Advertiser. The first site to open as part of the multi-unit agreement will be the Hykeham Manor, located in Gateway Park, Lincoln, on the site of a former Gateway Park Brewers Fayre, which will welcome customers on Wednesday 1 October. A further three pubs are set to open in October and November. The deal expands the pub behemoth's franchise footprint, with five sites already in operations with Haven Holiday Parks alongside agreements with Newcastle and Hull Universities.
Flat Iron has secured a senior debt facility from OakNorth bank to support its future expansion, writes The Caterer. The steak restaurant chain is poised for growth after being acquired by investment firms McWin and TriSpan last month. Flat Iron was founded in 2012 by Charlie Carroll and has grown to 18 restaurants across London, Manchester, Leeds and Cambridge. McWin also backs restaurants including Gail's, Sticks'n'Sushi and Big Mamma Group. TriSpan has made the investment through its Rising Stars Programme which also backed Pho, Mowgli and Rosa's Thai.
Adnams has cut its debt to £11.7m at the half-year, down from £18.2m a year earlier, as the Suffolk brewer and pub operator pushes ahead with its turnaround strategy. The company expects debt to fall further to around £8m by the end of September, supported by the disposal of non-trading assets and a small number of pubs, with trading arrangements maintained where possible. Group revenue for the six months to 30 June fell 5.7% to £30.1m, with performance affected by site disposals and wider market pressures. Operating income before gains on disposals was flat year-on -year at £1.5m, writes Morning Advertiser.
BrewDog lost nearly £37m last year as sales growth ground to a virtual halt, capping a rocky period in the wake of its founder James Watt's departure as chief executive. On Thursday afternoon, BrewDog's shareholders - who it calls "punks" - received an update outlining the company's financial position. Sales growth was up by less than 1% to £357m, a marked slowdown for a brewer that has been noted for the meteoric growth it racked up as it took on - and often matched - large global beer corporations. While pre-tax losses narrowed from £59m last year to £36.6m, BrewDog still fell £34.5m into the red after tax. It also revealed that its largest shareholder, a private equity investor called TSG Consumer Partners, has agreed to lend it a further £20m. That is on top of high-interest loans that the brewer took out in 2022 and 2023 on an interest rate of up to 18%. The increase in debt helped push up BrewDog's annual interest payments by £4m to £17.3m, reports The Guardian.
Providence Hotels has completed the lease acquisition of four Mercure-branded hotels, strengthening its presence in key UK markets, advises Hotel Owner. The deal covers the Mercure Exeter Southgate, Mercure Daventry Court, Mercure Blackburn Dunkenhalgh and Mercure Haydock. The leases have been secured alongside a franchise agreement with Accor, enabling the sites to continue operating under the Mercure brand. According to Providence, the move forms part of its long-term growth strategy, with a focus on operational performance and guest experience. Providence Hotels is a UK-based management company specialising in leased hotel properties, with a focus on strategic expansion and consistent guest service.
On Premise suppliers and operators pulled close to real-terms growth in the first half of August, CGA by NIQ's latest Daily Drinks Tracker shows. Average sales in managed venues in the week to Saturday 16 August were 3.2% ahead of the equivalent week in 2024 -- only marginally short of the UK's current rate of inflation of 3.8%, as measured by the Consumer Prices Index. This result came on the back of a solid seven days to 9 August, when average sales were ahead by 2.4% year-on-year. It continues decent momentum for the On Premise after a return to modest increases in mid-July, reports CLH News.
The Lord Roberts, a landmark pub in Scunthorpe affectionately known to locals as Bob's, is closing after 125 years of trading, reports the BBC.