West End has 109 per cent sales boost but retail leaders call for ‘urgent’ business reform October 10, 2022 West End retailers are calling for fresh support and radical reform to help continue their pandemic recovery. The organisation representing 600 outlets and hospitality firms in Bond St, Oxford St, Regent St and Mayfair announced the district is returning to pre-coronavirus levels, but that it still needs help to stop it faltering. The New West [...]
Diageo toasts ‘good start’ to year as drinkers’ thirst resilient despite economic slump October 6, 2022 Guinness owner Diageo has raised a glass to resilient demand for drinks despite a consumer spending slowdown. In a brief trading update on Thursday morning, the London-listed beverage giant said it had made a “good start” to its 2023 fiscal year. Chief executive Ivan Menezes noted “organic net sales growth across all regions” as the [...]
Tortilla anticipates shaved margins as protein prices spike October 3, 2022 Mexican fast-food chain Tortilla has warned it faces a hit to margins this year after meat prices have soared. Inflationary pressures would lead to a three percentage points reduction in gross margin for the 2022 financial year, to the tune of approximately £1.8m, Tortilla said on Monday. The restaurant brand pointed to a 40 per [...]
Exclusive: Second Los Mochis restaurant to open at 100 Liverpool St rooftop October 3, 2022 British Land Land has signed Los Mochis, the Baja-Nihon restaurant, which will open a flagship 14,000 sq ft restaurant on the rooftop of 100 Liverpool Street at Broadgate. CityA.M. can reveal that the Baja-Nihon restaurant will set up shop at 100 Liverpool St at Broadgate, opening in autumn 2023. The new venue follows in the [...]
Burger King inks whopper deal for ownership of 74 restaurants October 3, 2022 Burger King has snapped up a swathe of restaurants from its second largest franchise partner, in its largest ever franchise consolidation. The fast food chain’s UK arm said an indirect acquisition of all 74 restaurants under Karali Limited and Teresina Limited would boost its plans to expand its owned and sub-franchised portfolio. Burger King UK’s [...]
Maximilian Riedel: The 11-generation boss guiding the legendary glassmaker September 30, 2022 Walking down the street with Maximilian Riedel, the 11th generation chief of the glassware firm that bears his family name, sounds like a demanding experience – at least if you work in his sales team. “I said to Steve (McGraw, Riedel’s UK managing director), when I walk the streets of London, I tend to look [...]
Mitchells & Butlers sounds alarm over soaring energy costs September 29, 2022 Pub and restaurant group Mitchells & Butlers sounded the alarm over soaring inflation today as it reported a dip in sales in the year to September.
£277m financing deal between Quintain and J.P. Morgan to provide new homes at Wembley Park September 28, 2022 A £277m financing deal between development company Quintain and investment bank J.P. Morgan Chase will provide 769 new homes at Wembley Park. 74 percent of Quintain’s two new residential buildings, expected to be completed by early 2025, will be ‘Build-to-Rent’. Shops, cafes, restaurants and a 7-acre park are also in the works. The largest construction [...]
M Canary Wharf is both fun and elegant September 26, 2022 M restaurant has launched its newest incarnation in increasingly buzzy Canary Wharf, making the most of all the sky, steel and views over the water with floor to ceiling windows showcasing aspects and angles of the London skyline I had never seen before. Lights hang like flocks of seagulls above booths and tables designed to [...]
Revenues soar for Ten Lifestyle as banks splash the cash September 22, 2022 Interest rate hikes have boosted concierge group Ten Lifestyle’s revenues as banks with cash to splurge spend shell out on its services. Ten, whose clients include Coutts and Natwest Black, said net revenue for the year rose 35 per cent to around £46.8m yesterday, beating forecasts of £45m. The UK firm offers preferential access to [...]