Taco Bell ‘on fire’ as Mexican fast-food chain gears up for 100th UK site June 16, 2022 “We’re on fire” is how Taco Bell International’s president Julie Felss Masino described the Mexican fast food chain’s rollout to CityA.M. After launching 50 sites in the UK over the past decade, the US-based firm has expanded by another extra 50 sites in just the past 18 months. The chain, a subsidiary of Pizza Hut [...]
From banking to baking: How Austrian cuisine came to Islington June 15, 2022 Burn-out often leads to career change. So it was when Hubert Zanier tired of being an investment banker and instead dedicated his working life to schnitzels, strudels and other Austrian classics. He now runs Islington’s Austrian restaurant and patisserie Kipferl (German for croissant). “Kipferl started life as a small delicatessen near Smithfield. It quickly gained [...]
Revolve brings a buzzy brasserie to bustling Broadgate Circle June 15, 2022 Imagine Magaluf but populated entirely by people who work in finance – that’s Broadgate Circle on a balmy summer evening. It’s a mad, sweaty cauldron full of pink-faced men drinking lager and gently glistening in the heat. Take a step back from the epicentre and you’ll find a second, slightly elevated circle of bars and [...]
A struggle to get credit: Bank lending to hospitality nosedives following end of Covid loans CBILS and BBLS June 14, 2022 Outstanding bank lending to small businesses in the hospitality sector has fallen by more than £1.4bn since the end of CBILS and BBLS loans schemes. According to new data shared with City A.M., bank lending dropped to £14.6bn in April 2022, down from £16.08 billion in March 2021. With the cost of living crisis eating [...]
What it’s actually like in Qatar ahead of the World Cup 2022 June 14, 2022 Before I touched down in Qatar, I assumed it was a nation of falconry, beauty pageants for camels, and endless amounts of money. Save for a sprinkling of snazzy, FIFA-approved stadiums, little suggests Qatar plays football. When I arrive I see no goal posts in parks, locals playing, or even “No Ball Games” signs like [...]
Delivery kitchen operator Peckwater Brands raises £15m in funding round led by pub giant Stonegate June 13, 2022 Delivery kitchen operator Peckwater Brands has clinched £15m in a Series A funding round, which was led by the country’s largest pub company. The funding round was led by Stonegate Group, with the pub chain taking a minority stake in the firm, for an undisclosed sum. Peckwater Brands helps restaurant chains build virtual brands that [...]
Top dining chains see losses swell as inflationary pressures hammer the high street June 13, 2022 The country’s top restaurants have seen losses swell considerably in the past six months, surpassing the £800m mark. According to analysis from accountancy firm UHY Hacker Young, losses at the top 100 restaurants swelled 24 per cent from £673m to £832m in just the past six months shows a new study by UHY Hacker Young, [...]
Franco Manca owner says restaurants in office locations struggling to return to pre-Covid trade June 8, 2022 The owner of pizza chain Franco Manca has said its restaurants situated nearby office hubs “still have a way to go” with returning to pre-pandemic levels. However, Fulham Shore said that its small number of restaurants situated in worker hotspots were “showing continued improvement” as demand recovers after Covid lockdowns. Footfall was down 15 per [...]
Welcome (back) to Ibiza, as the Balearic prepares for its biggest summer yet June 7, 2022 The pandemic hit every tourism-focused economy hard, but few places felt the effects of Covid more starkly than Ibiza, an island that specialises in squeezing lots of hot and sweaty people into enclosed spaces. Two years of closures and uncertainty took their toll – almost half of the island’s GDP comes from tourism and visitor [...]
All sizzle and all stake: Salt Bae’s restaurant owner to sell stake to Qatar wealth fund May 31, 2022 Internet meme and meat seasoner Salt Bae’s steakhouse owner is in talks to sell a 20 per cent stake to Qatar’s $450 billion wealth fund. Dream Group, owner of restaurants including the Nusr-Et steakhouse – which was founded by Turkish butcher and salt sprinkler Nusret Gökçe, who later became an Instagram sensation – confirmed discussions [...]