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City Pub Group eyes expansion after ‘encouraging’ outdoor reopening May 11, 2021, 12:59 pm City Pub Group has said it is optimistic after an encouraging reopening for outdoor trading (City Pub Group/PA) City Pub Group has said it hopes to more than double its estate to 100 pubs as its bosses struck an optimistic note despite the heavy toll of the coronavirus pandemic. The company, which owns 45 drink-focused pubs and four development sites, tumbled to a £5.1 million loss for the year to December after the impact of months of enforced closures. However, the group said it is still positive about the future and saw “encouraging” early sales after venues reopened beer gardens and outdoor areas a month ago. ....
The City Pub Group has said it is on the hunt for new premises to expand its business as a further easing of Covid restrictions looks set to push sales back to pre-pandemic levels over the summer. The owner of the Brighton Beach Club said current trading since reopening outdoors had been extremely encouraging, with 24 of its pubs currently open trading at 77 per cent of 2019 levels. Expecting business to boom, the group is currently assessing investment opportunities on a very selective basis as it looks to snap up struggling smaller pubs at cheap prices. Summer cheer: The group expects big sports events like the European 2021 football finals and the return of tennis at Wimbledon to boost sales over the summer ....
(the City Pub Group , the Company or the Group ) FINAL RESULTS FOR THE YEAR ENDED 27 DECEMBER 2020 The City Pub Group is pleased to announce its audited results for the 52 weeks ended 27 December 2020. The Group currently operates a predominately freehold estate of 45 wet-led pubs and a further four development sites in London, Southern England and Wales. Enhancements made during lockdown · Significant investment in our pubs to optimise them for outdoor trading and take advantage of the strong pent-up demand and expected boom in staycations · Streamlining of operations across the estate to improve the customer experience and enhance margins · Improved City Club app which now has over 100,000 active members ....
Northern pubco the Inn Collection Group has added a 21 st site to its portfolio in the form of art deco site the Park Hotel at North Tyneside’s Longsands beach. The growing pub group – which boasts sites in Northumberland, County Durham, Teesside, Yorkshire, Cumbria, Lancashire and Wearside – completed on the 53-bedroom venue in an undisclosed deal. “We are absolutely delighted to be welcoming the Park into our pubs with rooms family,” managing director of the Inn Collection Group Sean Donkin said. “With its location alongside one of the UK’s most popular beaches and proximity to Newcastle-upon-Tyne, it’s a great fit with our brand, offering customers stunning places to eat, drink, sleep and explore from in outstanding locations across Northern England. ....
FTSE 100 closes a shade lower as US GDP figures send ripples On Wall Street, benchmarks were mixed, with the Dow Jones losing around 15 points but the broader based S&P 500 adding nearly a point FTSE 100 closes down by a whisker US markets mixed 5.05pm: FTSE finishes in red FTSE 100 index closed a tad lower on Thursday as first quarter GDP figures from across the pond sent negative ripples through markets. The UK s top share index finished down around two points, or 0.03%, at 6,961. On Wall Street, benchmarks were mixed, with the Dow Jones losing around 15 points but the broader based S&P 500 adding nearly a point. ....