Wylam Leisure is to apply for a 24-hour licence for its 1,500-capacity Glass Spider venue in Sunderland. The company, which also runs city-centre bars Tonic, Cheers and Vision, claims it wants to "test the water" with all-day opening. Wylam director Anthony Griffiths said: "I feel that somebody has to try it and it might as well be me." A previous application to the local authority for a 5am PEL licence was rejected in favour of a 1am finish.
Barvest's £598,000 half-year earnings
Barvest, the company that bought 28 Po Na Na sites in August 2003, made £598,000 Ebitda in the 26 weeks ending 26 December 2004. The company suffered an additional £340,000 in "controllable costs" during the period which have "now been brought back in line with internal forecasts". Private Equity firm Avanti Capital has an investment in Barvest worth £2.3m, comprising a 60% equity interest worth £600,000 and a secured loan note of £1.7m which carries a coupon of 37.5% per annum.
Robin Hood gets Chutney Joe's makeover
Small but ambitious Oriental restaurant chain Chutney Joe's has been on the lookout for town pubs suitable for conversion and has just snapped up a freehouse not far from Stansted Airport.
The latest acquisition, the long-established Robin Hood pub near the centre of Bishop's Stortford, is in need of improvement. Chutney Joe's is spending tens of thousands on a complete makeover and will open the doors soon.
Feeney slams major pubcos' disinterest
The former owner of Bolton's only brewery has hit out at what he calls the cynical attitude of the major pubcos towards smaller brewers. John Feeney, who sold the Bank Top Brewery to his business partner, John Sweeney, last month, said: "They are not interested in the smaller brews being made, even though they're popular."
Hoste of plans for award-winning pub
Gastro-pub operator Paul Whittome, whose Hoste Arms in Burnham Market, Norfolk, has won numerous awards, is to invest £350,000 in creating a private dining area with a view of a new underground wine cellar. He is also to create the "best toilets" in the UK with £40,000 spent on Fired Earth tiles alone. The Hoste Arms, which now has 39 bedrooms, is rumoured to take £60,000 per week.
Belhaven price omits takeover possibility'
The share price of Scottish brewer and retailer Belhaven does not take into account the possibility of a bid for the company over the medium term, according to Teather & Greenwood analyst Nigel Popham."While the smoking ban (in Scotland) is a setback, other operators may suffer more than Belhaven, which will present opportunities for expansion," he said.
More Punch pubs target family market
A growing number of Punch pubs are targeting the family market as a key for business development. A company survey of 5,000 of its retailers, showed that 80% labelled their outlet as family-friendly, compared to just 66% when asked the same question last year. Customer services director Francis Patton said: "The fact that an additional 690 outlets have geared themselves up to be family-friendly in the past year is an interesting trend."
Jennings turnover shows 5.5% increase
Lakeland brewer Jennings saw total turnover for the business rise by 5.5% in the five months to January 2005. In its pub business, like-for-like operating income increased by 5%. Geoff Morrey has been appointed director of sales and marketing. He was most recently sales director with Liverpool-based Cains.
Reform help for Robinson's licensees
Licensees across north-west brewer Frederic Robinson's 408-strong estate of tenanted and managed houses are to get expert help and guidance in drafting new licensing applications. The good news for Robinson's tenants is that the company has decided to look after every one of the premises licences in the estate, and to pay for the associated conversion and ongoing annual fees.
Table-dancing club to expand by four sites
For Your Eyes Only, the table-dance club previously owned bySFI Group, is to open four news sites this year, according to MA sister publication M&C Report. Current owner Ladhar Group, which also runs pubs and nursing homes, has secured a seventh site in Southampton. Glasgow, Manchester, Liverpool and Aberdeen have been identified as other possible sites.
Urbium aims for twice the City coverage
Urbium is to double the number of nightclubs it has in the City of London this year. It hopes to have as many as 15 outlets in the Square Mile within three years. Chairman John Conlon has claimed the City of London is a series of affluent hamlets, each in need of its own social outlet. Turnover for the year to 31 December rose from £66.7m to £75.3m and pre-tax profit hit by heavy exceptional costs the year before rose from £3.47m to £9.73m.