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 [...]
Nose around a central London house for the weekend with Onefinestay May 31, 2022 The weekend: For a recent milestone birthday I decided I wanted to celebrate with an intimate group of friends – but I couldn’t face hosting a dinner party at home. A gathering in the private dining room of a restaurant was an alternative but they can lack atmosphere. So when I discovered that Onefinestay allows [...]
Exclusive: M&G snags two major tenants in 40 Leadenhall – before it’s even built May 30, 2022 Investment firm M&G Real Estate has snagged two major tenants in the new development at 40 Leadenhall, City A.M. can reveal today – despite it still being under construction. The firm invested £875m to buy and develop the site – nicknamed Gotham City – in 2019. “It is the largest single transaction we’ve ever [...]
Jubilee boom for small business amid inflation worries May 30, 2022 THE EXTENDED Bank Holiday to mark the Queen’s platinum jubilee will give Britain’s small firms a much needed revenue boost. The closely-watched Barclays SME Barometer suggests three in five small business owners are expecting to see revenues higher this year than last, helped by an anticipated spending spree over the coming week. But around three [...]
TGI Friday’s owner shares plunge after revenue sinks amid diners’ tightening purse strings May 26, 2022 TGI Friday’s owner Hostmore’s share price has plummeted almost 15 per cent after the restaurant operator posted subdued revenue versus pre pandemic levels. Hostmore, which also operates the cocktail bar brand 63rd+1st, said like-for-like revenue was six per cent lower than 2019 levels. In a trading update for the 20 weeks ended 22 May, the [...]