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Story of the Day - 12 November 2025

The Coconut Tree placed into administration

Sri Lankan street food operator The Coconut Tree, which this summer was set to be wound up after defaulting on its company voluntary arrangement (CVA) over an unpaid £1.6m tax bill, has been placed into administration, Propel has learned. It is thought that Forvis Mazars have been appointed administrators to the seven-strong The Coconut Tree, which continues to trade from sites in Cheltenham, Bournemouth, Bath, Reading, Oxford and two in Bristol.

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Propel Exclusive Report

Propel's Experiential Leisure Report is available now

Experiential Leisure 2025
The 2025 Experiential Leisure Report, the second year of Propel’s exhaustive report on the fast-growing experiential leisure market, is now available. The report profiles the current shape of the experiential leisure market – including brands, estate size, trading type and geographical location and future trends.
 
It includes opinion from leading players Juliette Keyte, marketing director at Red Engine, Richard Beese, co-founder of We Do Play, and Lisa Boden, partner at investor Edition Capital, and provides a detailed list of UK experiential leisure companies including key staff and Companies House information. The report includes 197 companies, marking a 10% growth in the sector since last year’s study, with 3,700 sites.
 

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Propel’s Experiential Leisure report is available now for £595 plus vat. Premium Club members receive the report for free.

Order The Experiential Leisure Report today by emailing: kai.kirkman@propelinfo.com

In-depth insight into the UK hospitality market: two essential reports from Propel
Further reports available from Propel include: The International Brands report, featuring the 100 leading international brands in UK hospitality by site number, is available to order now. This comprehensive 30,000-word report covers company histories, leadership structures, site numbers and turnover figures – an essential resource for industry professionals. The top 100 features fast-growing brands from major international markets, including the US, Canada, Europe, Australia and Asia.
 
The Top 500 Report ranks the UK’s largest operators by turnover – totalling £30bn across 51,000 sites. It features company histories, leadership structures, financial performance, and sector segmentation. It is delivered as an in-depth PDF and searchable Excel file. These reports offer more than 125,000 words of analysis – providing operators, investors and suppliers with comprehensive insight into the structure and direction of the market.

12 November 2025

Fuller's the Half Moon

Fuller’s managed like-for-like sales up 4.6%

Fuller’s has this morning reported a 4.6% increase in like-for-like sales across its Managed Pubs & Hotels in the six months to 27 September 2025, with total revenue up 7% to £207.5m (H1 2025: £194.1m). It said that adjusted pre-tax profit for the period increased by 28% to £22.5m (H1 2025: £17.6m), while statutory pre-tax profit stood at £21.1m (H1 2025: £29m), with the prior period reflected book profit of £17.2 million arising from the disposal of The Mad Hatter hotel. 

12 November 2025

Chairs and Stools Stacked on Tables in an Empty Closed Restaurant

Hospitality job crisis deepens ahead of Budget

The sector’s job crisis has deepened ahead of this month’s Budget, UKHospitality has said, as it again called for urgent government action. The trade body said 13 consecutive months of falling employment “underline the devastating and lasting impact of last year’s Budget on hospitality and the wider economy”.

12 November 2025

Costa Coffee

Costa attracts takeover interest from backer of China’s Luckin

Centurium Capital, the private equity backer of fast-growing Chinese chain Luckin Coffee, is considering a bid for Costa Coffee. Bloomberg reports that the investment firm has been evaluating whether to make an offer for Costa, which is being sold by Coca-Cola Company. 

12 November 2025

Thwaites

Thwaites – ‘our trading performance is holding up, tax burden on community pubs has reached its limit’

North west brewer and retailer Daniel Thwaites has said its current trading performance is “holding up” but the tax burden on community pubs has “reached its limit” – particularly for landlords running smaller tenanted community pubs. It comes as the business reported turnover for the six months to 30 September 2025 was up 5% to £66.7m (2024: £63.5m).

12 November 2025

Yolk

Yolk undergoes CVA, ‘stronger and more focused than ever’

“Good bites only” business Yolk has told Propel that it is “stronger and more focused than ever” after undergoing a company voluntary arrangement (CVA) with 98% creditor approval, which has led to the closure of three of its sites in London. The business has closed its sites in High Holborn, New Oxford Street and The Strand, with founder Nick Philpot telling Propel that the now seven-strong company had learned some valuable lessons about site selection through the restructuring process.

12 November 2025

Ask Italian

Azzurri Group – QSR concepts expected to contribute 25% of revenue, catering driving Coco di Mama growth

Azzurri Group – the hospitality investment platform that operates ASK Italian, Zizzi, Coco di Mama, Boojum and Dave’s Hot Chicken UK – expects its quick service restaurant (QSR) concepts to contribute 25% by the end of its current financial year. Earlier this week, Steve Holmes, chief executive of Azzurri, told Propel the pace of openings for US brand Dave’s Hot Chicken in the UK had increased to one every three weeks, with the debut site in London’s Shaftesbury Avenue currently the brand’s second highest grossing site in the world.

12 November 2025

Captain D's

Captain D’s – UK debut site marks ‘major step in brand’s international expansion’

US fast-casual seafood brand Captain D’s has said the group’s debut site in the UK, which recently opened in Broadstairs in Kent, marks a major step in the brand’s international expansion and is just the beginning of its “journey across Europe and the globe”. The brand, which was founded in Tennessee in 1969 and has grown to some 530 restaurants across the US, has opened in the Westwood Cross scheme.

12 November 2025

Noodle Inn

One Vision Management plans Noodle Inn roll out, secures second site, 200 Degrees co-founder advising

One Vision Management – the vehicle led by Alex Xu, which operates the Happy Lemon bubble tea business and Taiwanese dessert parlour Meet Fresh – has secured a second site in London for Noodle Inn, its hand-pulled noodles concept, with plans for a further roll out, Propel understands. One Vision Management, which operates 20 sites under a number of concepts across five cities, launched Noodle Inn last September in Soho’s Old Compton Street.

12 November 2025

Chococo

Chocolate shop and cafe concept Chococo gears up for UK and global growth in 2026

Chocolate shop and cafe concept Chococo is gearing up for UK and global growth in 2026, Propel has learned. Founded in Swanage, Dorset, in 2002 by Claire and Andy Burnet, Chococo has grown from a small coastal start-up to operate four “chocolate houses” in southern England and is set to make its London debut.

12 November 2025

Mecca Bingo

Grosvenor Casinos owner hires new chairman

Rank Group, which owns Mecca Bingo and Grosvenor Casinos, has hired John Ott, a business consultant with more than 40 years of experience, as its new chair, with effect from Monday (17 November). Ott is currently a senior advisory partner at Bain & Company UK, having joined the company in 2006, alongside being a founder, investor and board member for two private businesses, a data and technology services business and a global fractional ownership business.

12 November 2025

Megan’s

Megan’s hires Jay James as marketing and sales director

Megan’s, the all-day, neighbourhood restaurant concept, has hired Jay James, formerly of Rosa’s Thai and Prezzo, as its new marketing and sales director. James joins the 21-strong Megan’s after a four-month contract stint as marketing director at Gordon Ramsay Restaurants.

11 November 2025

Nightcap – Adventure Bar Group

Exclusive – Nightcap returns to like-for-like growth as full-year revenue increases to £57.5m, ‘strengthened belief’ The Piano Works has ‘national and international roll-out potential’

Nightcap – the owner of The Cocktail Club, the Adventure Bar Group and the Barrio Familia group of bars – has returned to like-for-like growth as it reported a full-year increase in turnover and record site Ebitda, Propel has learned. With investment in people, systems and artificial intelligence to streamline operations and enhance efficiency across the business, Nightcap said it enters its 2026 financial year “stronger, more agile and well-positioned for continued expansion”.

November 2025 ~ Premium Club

Available at 9am on Friday 21 November –  videos from the Propel Multi Club Conference – Growth in an era of big challenges. Premium readers receive the videos from Propel conferences each year – around 100 in total. A great way to keep your team abreast of what’s happening in the sector. Andrew Ball, senior hospitality partner at haysmacintyre, talks to Harry Goss, partner at McWinLuke Johnson, co-founder and partner of Risk Capital PartnersYasha Estraikh, associate partner at Piper Private EquityLizzie Ryan, managing partner at Imbiba, and David Roberts, partner at CMS, about the current investment market, where the buyer activity is centred and what is the current investment criteria in a volatile market. Jesse Jenkins, founder of plant-based cookie concept The After School Cookie Club, in which John Vincent, co-founder and former chief executive of Leon is an investor, discusses expanding across London, its strong community focus, and the role of social media in its success. Bubala founder Marc Summers talks about the creation of the Middle Eastern vegetarian concept, its launch into the competitive London market, the future for the business and the vegetarian restaurant category. Jonny and Charlotte Heyes, founders of Nell’s, the north west New York-style pizza business, discuss the concept’s three-year growth strategies, including becoming a regional standout performer and now looking to spread its wings in new territories. Alex Reilley, chairman of Loungers, talks to Mark Wingett about the company’s return to the private world, maintaining consistency of offer, what the expansion runway looks like for the business, and saving the high street. Industry veteran David Page, the former chairman of Franco Manca, owner of Fulham Shore, ex-chief executive of PizzaExpress, and who is set to become chair of Wildwood operator Tasty, talks to Propel’s Mark Wingett about his return to the sector, why now and what does he make of the current landscape and opportunities for growth. Michelle Hazlewood, partner at leading sector licensing firm John Gaunt, will examine all the key legal developments that have impacted multi-site operators in 2025, set out the latest legislation affecting the industry, and analyse the immediate and long-term legislative commitments the government must consider if it is to aid the sector’s return to growth. Aaron Mellor, founder and chief executive of Tokyo Industries, the UK’s largest private operator of bar and nightclubs, alongside multiple international operations in Los Angeles, Palm Springs, New York, Palma, and Ibiza, talks about the late night market, developing a new West End theatre, operating mid-century hotels in California, trading in Palma and Ibiza, operating multiple festivals, building skyscrapers in Manchester and buying a shopping centre in Hull. Matt Snell, chief executive of Boxpark, talks about moving from casual dining into operating an all-day, multi-brand, multi-purpose operator, the evolution of the business and how it chooses who to work with. Mike Spencer, McDonald’s UK & Ireland vice-president of development, discusses the brand’s large-scale reimagining programme across its estate with a target of 200-plus stores refreshed a year as it looks to unlock capacity to drive future growth, how it is looking to open 40 new sites a year, and its approach to the customer journey. Tom Molnar, co-founder of the fast-growing Gail’s, talks to Propel’s Mark Wingett about the hard-won lessons from scaling a craft bakery into a nationwide success without sacrificing quality or creativity, and the mindset shifts, growth strategies, and leadership principles that have helped the business thrive as it celebrates its 20th year.

By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.

November 2025 ~ Premium Club

The 2025 Experiential Leisure Report, the second year of Propel’s exhaustive report on the fast-growing experiential leisure market, was published on Friday, 1 August. The report profiles the current shape of the experiential leisure market – including brands, estate size, trading type and geographical location and future trends. It includes opinion from leading players Juliette Keyte, marketing director at Red Engine, Richard Beese, co-founder of We Do Play, and investor Lisa Boden, partner at investor Edition Capital, and provides a detailed list of UK experiential leisure companies including key staff and Companies House information. The report includes 197 companies, marking a 10% growth in the sector since last year’s study, with 3,700 sites. Katherine Doggrell, Propel’s editorial advisor and the report’s author, said: “The experiential leisure sector is a major growth driver of the hospitality sector, with the market maturing into overseas expansion and franchising as it continues to build and inspire the rest of the market. With trends such as padel keeping the segment fresh, this report hears from operators and investors as they try to anticipate the next innovations. This report delivers an exhaustive overview to all those interested in this influential sector.”  The report was released on Friday, 1 August and is available for £595 plus VAT to pre-order now. Existing Premium Club subscribers can receive it on Friday, 1 August for £395 plus VAT. 

By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.

November 2025 ~ Premium Club

Premium Club Opinion provides weekly insights from industry leaders. In this current edition, Katherine Doggrell, Propel’s editorial advisor and founder of NewDog PR, critiques government mismanagement and broken promises impacting hospitality. At the Propel Multi-Club Conference, industry leaders condemned rising taxes, regulation, and labour challenges but highlighted the sector’s resilience, investor appeal, and social importance. Despite political frustration, optimism endures that hospitality remains vital, innovative, and undervalued by policymakers. Graham Smith and Craig Rachel, who lead the corporate finance and M&A advisory team at AlixPartners, discuss how investor focus in hospitality is shaped by inflation, wage pressures, and supply chain resilience. Despite cautious consumers, demand for food and experiences remains strong. M&A activity is buoyant, driven by scalable, value-led brands. Scale, efficiency, and strategic consolidation underpin growth, with continued deal momentum expected over the next year. Meanwhile James Hacon, managing partner at Think Hospitality Consulting, considers how experiential leisure, led by UK brands, thrives on millennials’ and Gen Z’s preference for social experiences over material goods. However, single-activity venues risk short lifespans, driving a shift to multi-activity formats. As global competition grows, innovation and diversified, experience-led offers are key to sustaining the sector’s momentum. Meanwhile, Jonathan Lawson, chief executive of Butcombe Group, formerly Liberation Group, discusses how the hospitality sector urges government support after a damaging Budget, highlighting its economic and social value. Despite challenges, Butcombe Group sees growth through boutique inns, daytime trade, data-driven loyalty, diverse events, and moderation trends, proving modern pubs remain innovative, adaptive, and central to community life. Lastly, Victoria Searl, founder and chief executive of DataHawks, likens private equity’s impact on hospitality brands to a parasitic wasp consuming its host. Rapid, unsustainable expansion erodes brand identity and customer loyalty. Data-driven, customer-focused growth—rather than short-term profit extraction—is essential to sustain both brand health and long-term investor returns.

By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.

November 2025 ~ Premium Club

READ PREMIUM CLUB'S DIARY FOR INSIDER SECTOR GOSSIP

Mark Wingett’s Premium Club Diary delivers insider sector gossip every week to Premium Club members. In this current edition, at the Propel Multi Club Conference, hospitality veteran David Page reflected on his 50-year career spanning PizzaExpress, Gourmet Burger Kitchen, Franco Manca, and now Bow Street Group, the owner of Wildwood and Dim T. He admitted to missing out on early investments in major success stories like Dishoom, Deliveroo, and Hawksmoor, while outlining plans to build his “fourth enterprise” in the restaurant industry. In another major development, John Vincent, co-founder of Leon, has bought back the brand he sold to EG Group in 2021—reportedly for under £30m—with ambitions to make it “the earth’s favourite fast food.” Since stepping away, Vincent has explored sustainable ventures, including a plant-based cookie concept and a clothing collaboration with All Saints’ co-founder Stuart Trevor. He’s also formed a band, Return of the Human, symbolising his renewed creative energy. Meanwhile, JKS Restaurants and Dominic Jacobs have rebranded their pub division as Ardent Pub Group, following success with sites including The Hound and The Cadogan Arms, though earlier acquisition interest fell short of valuation. Finally, The Ivy Collection, nearing 50 sites, continues its rapid expansion into new cities. However, managing director Laura Mills has exited after six years, leaving owner Richard Caring to directly oversee operations during the brand’s ongoing sale process.

By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.

11 November 2025

John Vincent – buying Leon was for ‘emotional and purpose reasons’, first step is to stop the company losing cash at the level it is

John Vincent, co-founder and former chief executive of Leon, who bought the naturally fast-food brand back from Asda last month, has told Propel he came back to the business “for emotional and purpose reasons” and said there are five key pillars he will work on to get the company back to its previous level. Speaking on Propel’s podcast series, In Conversation, Vincent said: “The percentage play is not to take on a situation like Leon, but I do think it’s an entrepreneur’s job, by definition, to defy the odds.”

11 November 2025

Greggs

Greggs trials smaller shop format

Food-to-go retailer Greggs is trialling a smaller shop format named “Bitesize Greggs”. The company said the format enables the group to offer its products to more customers in high-footfall, prime locations that are constrained by space.

11 November 2025

McDonalds

McDonald’s UK to roll out ‘order ahead’ app feature nationwide

Following a successful trial launch, McDonald’s UK is rolling out its brand-new app feature, ‘order ahead’ across its restaurants nationwide. The business begun trialling the new app feature, which it said would give customers a “smoother, faster experience” when ordering, last month.

11 November 2025

Marugame Udon UK cuts losses, evaluating potential new sites

Marugame Udon, the international udon noodles and tempura restaurant brand which signed a UK master franchise agreement with Karali Group to accelerate the brand’s growth earlier this year, reduced its losses in the year to the end of 2024, “reflecting tighter cost control and operational efficiencies”. The nine-strong company said turnover for the period ended 29 December 2024 was £15.9m, a decrease of £1.2m (7%) compared with the prior period (2023: £17.1m).

11 November 2025

PizzaExpress

PizzaExpress hires Inji Duducu as new chief people officer

PizzaExpress has hired Inji Duducu, formerly of Poundstretcher and Morrisons, as its new chief people officer. The company said that Duducu, who will take up her new role next month, brings a “wealth of people leadership to the brand”.

11 November 2025

Dominus

Dominus hires new CFO as it scales its UK hotel platform

Real estate developer, owner and operator Dominus has hired Andrew MacDonald as its new chief financial officer as it scales its UK hotel platform. MacDonald joins Dominus from Sellar, where he was head of joint ventures and investment, responsible for investments, partnerships and capital raising.

11 November 2025

European hostel brand to make UK debut with trio of launches across three major cities

European hostel brand SmartRental Group is to make its UK debut with a trio of launches across three major cities. SmartRental Group is bringing its Malacuna brand to Manchester, Liverpool and Birmingham – with its venues to include rooftop bars, live music, comedy nights, skate ramps, tattoo studios and cinema rooms, reports Insider Media.

11 November 2025

Marston’s launches UK’s first hospitality training academy in women’s prison

Marston’s has opened The Hope & Anchor, the UK’s first commercially led hospitality academy inside a women’s prison, which it said will provide offenders with a pathway to employment following their release from custody. The company said that the industry-first training initiative, based at HMP Styal in Cheshire, sets a new standard for “inclusive recruitment within the UK hospitality sector”.

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