{"id":3502,"date":"2023-05-31T12:19:35","date_gmt":"2023-05-31T12:19:35","guid":{"rendered":"https:\/\/londondrinker.camra.org.uk\/wordpress\/?p=3502"},"modified":"2023-05-31T12:19:37","modified_gmt":"2023-05-31T12:19:37","slug":"trade-news-may-2023","status":"publish","type":"post","link":"https:\/\/londondrinker.camra.org.uk\/wordpress\/index.php\/2023\/05\/31\/trade-news-may-2023\/","title":{"rendered":"Trade news – May 2023"},"content":{"rendered":"\n

CORONATION TRADE<\/strong><\/p>\n\n\n\n

Good news and bad news. I heard a report on the radio that the Coronation was predicted to bring in some \u00a3350 million to the hospitality industry, although, obviously, not all of that would be spent in pubs. High end hotels were expecting to do very well as tourists returned, attracted by the event. There were, in the end, quite a large number of Coronation beers around; too many to list here.<\/p>\n\n\n\n

WETHERSPOONS NEWS<\/strong><\/p>\n\n\n\n

JDW had record sales over the Easter holiday which was followed by their busiest ever Saturday over the May Day weekend. Sales in the three months February to April were up 12.2% compared to the equivalent period in 2022. The Saturday of the Coronation was however reported to have been quiet.<\/p>\n\n\n\n

As regards the disposals programme, the Toll Gate, Hornsey (N8 0PS) has been sold to a company called Milegate Ltd but, according to the list provided by the selling agents, this appears to be the only sale so far completed. Twelve pubs are listed as being \u2018under offer\u2019 and five are listed as \u2018available\u2019. A further site has been added, in New Brighton on the Wirral, where a project to expand an existing pub, the Master Mariner, has been abandoned. According to the Guardian (11 May) the disposals programme has generated funds of \u00a34.7 million. Three new pubs have been opened this year.<\/p>\n\n\n\n

I reported in the last edition that the City of Westminster had refused JDW\u2019s application for planning permission (change of use) to convert the former TGI Friday site in Covent Garden (6 Bedford Street WC2E 9HZ) into a pub. JDW are appealing to the Planning Inspectorate to have the decision overturned. Watch this space.<\/p>\n\n\n\n

A curious row has broken out between JDW and multinational drinks company AB InBev. It concerns the \u2018T-bar\u2019 fonts from which keg beers are dispensed. JDW made an agreement (reportedly for twenty years) with AB InBev\u2019s UK subsidiary, the Budweiser Brewing Group (BBG), that JDW would have BBG\u2019s best known brands such as Budweiser and Stella Artois on the \u2018T-bars\u2019 in all 830 plus of its outlets. As far as I can work out, BBG are unhappy about the price that JDW is paying them for the beers and they believe that not enough beers are being featured on the fonts. These are, BBG claim, \u2018material breaches\u2019 of the contract. There is also a dispute over who is responsible for the maintenance of the fonts. JDW say that it is standard industry practice for this to be BBG\u2019s responsibility while BBG say that it should be covered by a separate agreement. BBG are understood to be seeking to terminate the contract and the dispute looks likely to end up in the High Court.<\/p>\n\n\n\n

BREWDOG CLOSURES<\/strong><\/p>\n\n\n\n

We reported in the last edition that, in February, BrewDog had opened a new branch in Wandsworth. At the end of March however, they closed two existing branches in the same part of London, in Clapham Junction and Brixton. This follows the closure of three outlets in east London last September. The reason given then was that it was \u2018simply impossible to get these bars even close to financial viability\u2019, principally because of rising energy costs.<\/p>\n\n\n\n

GUINNESS GET THE GO-AHEAD<\/strong><\/p>\n\n\n\n

After much pondering, Westminster City Council has granted planning permission for the \u00a373 million Guinness development in Covent Garden. The project will involve the conversion of existing buildings and will include a microbrewery, a bar and a shop. It was reported in the Evening Standard (22 March) that some 450,000 visitors per annum are expected. It is scheduled to open in 2024.<\/p>\n\n\n\n

BLACK SHEEP MAKING PLANS<\/strong><\/p>\n\n\n\n

It was reported in April that the Masham (north Yorkshire) based Black Sheep Brewery was \u2018currently considering all options, one such option being a merger or an acquisition of the company, in whole or in part, if such a solution offers the best outcome for shareholders and other stakeholders whilst providing a stable base for the future of the business\u2019. This arose from \u2018funding issues\u2019 brought about by the current financial situation, despite sales volumes being good. Sadly, no expressions of interest were received so the plan was withdrawn and instead, on 3 May, it was announced that the company intended appointing administrators. It is possible that this is being done to facilitate a restructuring of the company and complete closure still seems unlikely. It may be significant that the company only has four tied houses, two in Leeds and two in York.<\/p>\n\n\n\n

STONEGATE NEWS<\/strong><\/p>\n\n\n\n

In what they described as a \u2018creditable performance\u2019, Stonegate\u2019s accounts for the year ended 25 September 2022 (released in March) showed sales income of \u00a31.61 billion as against \u00a3707 million for the previous year. Their adjusted profit before tax was \u00a366 million as against a loss of \u00a3320 million in 2021. Their Craft Union brand is doing well and now has over 500 outlets.<\/p>\n\n\n\n

Branded glassware has now become very popular in our pubs. In March however, Stonegate upset some of its tenants and lessees by deciding to ask them to contribute to the cost of supplying them. The plan, reportedly, was to free up funds from their marketing budget for other initiatives. Given the other problems that they are having to deal with, this did not go down well with the licensees involved and Stonegate backed down.<\/p>\n\n\n\n

FULLER\u2019S NEWS<\/strong><\/p>\n\n\n\n

Fuller\u2019s have gone against the current trend and, following a strategic review, are transferring 23 of its managed houses to tenancies. A spokesperson said, \u201cWe believe these pubs will thrive under an entrepreneurial tenant, with the support of our excellent tenanted team, and deliver a better financial return for the pub and for Fuller\u2019s.\u201d<\/p>\n\n\n\n

Fuller\u2019s held their annual Thames bridge walk on 19 April. This year, 98 members of Fuller\u2019s staff from various parts of the company walked the 21 miles from the Swan Hotel in Staines to the One Over the Ait in Brentford, which included a trip on the Shepperton ferry. They were accompanied by athletes and supporters from Special Olympics GB and \u00a320,000 was raised for the charity\u2019s work in providing regular sporting opportunities for children and adults with intellectual disabilities across England, Scotland and Wales. Some of the funds will go towards those athletes who are competing in the Special Olympics World Games in Berlin in June.<\/p>\n\n\n\n

This summer, Fuller\u2019s are once again staging their Opera in the Garden events. 24 different pubs will host performances from the Rogue Opera troupe (four singers and a pianist) during the period 18 June to 31 July. For a full list of the pubs involved (eight are in London) and to book tickets, go to the Fuller\u2019s website www.fullers.co.uk\/event-finder\/opera-in-the-garden<\/a>.<\/p>\n\n\n\n

Further to CAMRA\u2019s Plastic Pints are Rubbish campaign (see News & Views), Fuller\u2019s are also looking to replace single use plastic glasses. Working with the sustainable products company Green Goblet, they hope to avoid some 65,000 plastic glasses ending up in landfill. Once used, Green Goblet collect the glasses and professionally wash and dry them at their own specialist premises. This saves energy and water costs for the pub. They are then available for reuse and, being made of polypropylene, at the end of their life they are fully recyclable. The goblets were due to make their debut in pubs screening the Rugby Six Nations games in February. Fuller\u2019s are aiming to reach their Net Zero target by 2040.<\/p>\n\n\n\n

ANTIC CLOSURES<\/strong><\/p>\n\n\n\n

We have previously reported the closure of the Leyton Technical and the Arkstar in Holloway (because of recovery action in respect of rent arrears accrued during the Covid lockdowns. There have now been local news reports that the same has happened to the Pepper Saint Ontiod on the Isle of Dogs and the Woolwich Equitable.<\/p>\n\n\n

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\"Pepper<\/figure>\n<\/div>\n\n\n

TRG SHEDS RESTAURANTS<\/strong><\/p>\n\n\n\n

TRG (The Restaurant Group) have announced that they are to close 23 of their Frankie & Benny\u2019s and Chiquito restaurants. Happily, there are no plans to make any changes to their pubs arm, Brunning & Price, which has been trading well. B&P have over 100 outlets across the country, including seven in London.<\/p>\n","protected":false},"excerpt":{"rendered":"

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