24/07/2018
Cau falls into administration and closes 22 restaurants
Gaucho Group has announced the closure of 22 Cau restaurants. The brand fell into administration having suffered negative like-for-like sales for the past three years. The Caterer reports that whilst 22 branches will close with immediate effect, 16 Cau restaurants will continue to trade while a buyer is being sought. Deloitte has been appointed as the administrator and buyers will now be sought for both the trading and closed sites.
Stonegate acquires Be At One and 15 Novus sites
Be At One has been acquired by Stonegate Pub Company. Be At One was established in 1998 in Battersea Rise and has grown into a national brand, with 33 sites across the UK, 17 of which are in London. According to The Morning Advertiser, Stonegate will continue expanding the Be At One brand, with a second venue planned for Birmingham in August as well as Chelmsford later this month. Furthermore, Stonegate has also acquired 15 London venues from Novus Leisure, taking their total portfolio to 739 venues.
Deltic Group announce 4.2% sales growth
Deltic Group, the late night bar operator, has announced their annual results for the year ending 24th February 2018. As reported by Pub and Bar Magazine, the group saw a 4.2% sales growth as well as a 4.9% increase in like-for-like sales, totalling £106.5m, up from £102.2m in 2017.
Borealis to open in Borough
Soren Jessen, a Danish-born banker turned restaurateur, is set to launch a new London restaurant in Borough. According to The Caterer, the 120-cover restaurant, Borealis, is set to open next month.
Olive Tree to launch fifth restaurant
Olive Tree, the Greek/Mediterranean restaurant brand, will launch its fifth site, in Lytham St Annes, Lancashire, next month. According to The Caterer, the 110-cover restaurant will be located on Dicconson Terrace in a former NatWest bank, which marks the brand's second venue in the town.
And Finally...
Escape Hunt, the producer of the Escape Room live experiences, has signed an exclusive five year license agreement with the BBC in order to introduce a Doctor Who-themed escape room to the UK. The concept will follow the new series launch in autumn, thus opening in December this year, with the intention to roll out across the UK over the next three years. Propel Info went on to report that Escape Room will be opening three new sites in the coming weeks as well as an additional two in this year's final quarter.