Today’s news in brief – 25/03/25
Red Engine has seen a 15% uplift in sales to £77.1m in FY24. During the year, the group’s sales combined with its franchise partners reached £118.3m. It added that EBITDA is expected to have surpassed the £12m it recorded in 2023. Over the next five years, Red Engine aims to open three to four owner-operated venues each year, and its partners have a goal of opening at least four to five Flight Club venues per year.
UKH has called for the CMA to investigate the non-domestic energy market. In a letter addressed to CMA boss, Sarah Cardell, the trade body said the criteria for a Market Investigation Reference (MIR) has been “undoubtedly met”, including reasonable grounds for suspecting competition is not effective. It comes as hospitality businesses continue to report issues with the energy market, such as being charged premiums or denied supply.
Hospitality Action has called 2024 its “most challenging year yet”, as it marked the fifth anniversary of its first Covid grant. According to the charity’s latest Impact Report, a surge in grant applications last year was driven by mounting debt, soaring living costs, unstable work patterns and declining mental health. Complex ‘Red Flag’ cases, where individuals faced homelessness due to unpaid rent, council tax or utility bills became increasingly common.
Roti King will open a new restaurant in Brighton in May, its first location outside of London. The new venue will be at 57 Ship Street in the historic Lanes, set in a Grade II-listed building that was previously home to jewellers. The 50-cover restaurant will retain as much of the original character as possible, inside there are murals inspired by Malaysian street art with artwork dedicated to the playfulness and innocence of children.
Taiwanese noodle bar Kung Fu Mama will be opening in Covent Garden on 8 April. The concept, which will be brought by Ottolenghi co-founder Noam Bar-Chang and founder of Kung Fu Mama Retail Chris Hsu, will be located on Long Acre and offer a “contemporary take” on Taiwanese flavours. There will be nine covers inside and four outside, as well as take away and delivery available locally.