All Prezzo articles – Page 3
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NewsPrezzo appoints advisors
Prezzo is the latest casual dining name to appoint in advisors to consider its post-coronavirus funding options.
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NewsPrezzo offers staff ‘income streaming’
Prezzo has teamed up with Wagestream so its 3,000 employees can access their furlough pay early. Wagestream offers workers early access to their accrued pay when they need it, allowing them to withdraw a percentage of their earned wages for a flat £1.75 fee. Prezzo said offering staff the income streaming service would help them cope with additional pressures bought on by the coronavirus.
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NewsDowney’s nine-month rent free proposal backed by industry leaders
Jonathan Downey’s nine-month rent time out proposal will be put to Government this week, backed by a number of industry leaders.
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NewsDishoom says “Goodbye, for now”
Dishoom has become the latest operator to close its restaurants amid the continuing COVID-19 outbreak.
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NewsYo!, Prezzo and Byron among latest casual dining closures
Yo!, Prezzo and Byron are some of the latest casual dining operators to temporarily close their doors.
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Analysis & InsightSteve Gotham: Turning up the heat and other NPD delights
New product development (NPD) is rightly recognised as a lifeblood for the eating out industry, and MCA’s Menu Tracker offers insights into the latest menu trends and influences across 150 leading operators. This review only serve as a taster, but the three courses have each been accompanied with three key summary insights.
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NewsAll’s fair in love and restaurants – how did the operators line up to fight for the Valentine’s share of wallet?
If French is the language of love, then presumably a French restaurant should be where I head with my true love on Valentine’s Day. Certainly, the leading French chains are using several seduction techniques to secure my custom – and for good reason. February is a slow trading month and an event where consumers might be more inclined to loosen the purse strings for fear of having their heart strings damaged, is well worth aiming to capitalise upon. So who offered what on the big day?
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Analysis & InsightBangkok bounce back?
Once the darling of the Thai restaurant scene, Busaba has had a tough few years, with falling profits and site closures. Now with a simplified offer and a fresh focus on the capital, it’s looking to bounce back
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NewsRetailers’ Retailer full nominees list revealed
The finalists for MCA’s Retailers’ Retailer Awards 2020 have been announced, with the cohort reflecting a diverse and vibrant range of eating and drinking out operators.
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Analysis & InsightBranded restaurants with strongest sales growth offer least promotions
Top 25 branded restaurants offer seven promotions on average per brand, but those with the strongest sales growth offer an average of three, the MCA’s latest Operator Index has revealed.
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NewsThe Highs and Lows of Promotions
In recent weeks I have looked into various elements of economising behaviour by consumers, including targeting low prices and more spending at weekends as opposed to weekdays, today’s focus is on the widely prevalent, yet potentially damaging, practice of promotional activity. Key questions asked include whether its usage is rising, who’s buying into the offers the most and what are the most popular promotion types. The core focus area is the key dinner day-part within the chain restaurant sector and the source of answers is MCA’s consumer tracking service, the Eating Out Panel.
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NewsPuttshack announces new senior appointments
Puttshack has appointed Paul Hunter as operations director and Chris Lincoln as head of learning and development as the mini golf experience prepares for further expansion.
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NewsFormer Diageo CEO joins Brockmans
Former Diageo CEO Paul Walsh has taken a stake in super-premium gin maker Brockmans.
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NewsBranded restaurant market – green shoots of recovery?
Turning tables is a long-established practice in the restaurant market, albeit perhaps one more commonly associated with times of more buoyant trading than those currently prevailing. Highlighting just how fast the fortune tables can turn in this market, I was fascinated by some recent MCA analysis looking at physical growth by branded restaurant chains across different portfolio sizes. This year, the estate bracket sub-category that is anticipated to add the most net new sites will be ‘small’ operators.
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NewsPrezzo made £29.7m loss in 2018 after CVA
Prezzo made an operating loss of £29.7m in 2018 following the CVA that saw it close nearly 100 restaurants.
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OpinionAnalysts’ corner: Mitchells & Butlers
A material re-rating should lie ahead if the business continues to executive its operational improvement and de-leveraging plans, believe analysts at Berenberg.
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NewsPrezzo appoints David Haimes to Board
Prezzo has appointed David Haimes as non-executive Director. Haimes has spent over 20 years in the food and drink industry, including CEO of Obikà Mozzarella Bars & Restaurants and MD at brands including Yum! Brands, Itsu, Luminar Leisure and Tchibo GB.
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Analysis & InsightEvolving before our eyes
The pace of change is speeding up and nowhere is this clearer than in the UK’s eating and drinking-out sector. Over the last five years, AlixPartners and CGA’s Market Growth Monitor has tracked some seismic changes across the industry – from the drinks-led renaissance to the burgeoning impact of delivery. There’s not been a dull moment, say AlixPartners’ Graeme Smith and Craig Rachel.
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NewsJamie’s suffered a death by too few cuts
The news that Jamie Oliver Restaurant Group was calling in administrators may not have been unexpected but the dramatic exit of a casual dining pioneer from the UK high street was unsettling for the entire industry. MCA editor James Wallin looks at what went wrong and whether this represents a second wave in the CVA saga that has dominated the past year.