Today’s news in brief – 24/04/24

Tortilla revenues rose by 14% to £65.7m in the year to 31 December 2023, as it built on the momentum from the previous year’s record. During the period, the group opened six sites in the UK as well as one franchise site, taking the total to 87 locations. According to the group, trading so far in 2024 is in line with expectations.

Pret a Manger co-founder, Sinclair Beecham, will return in an advisory role, as the group reshuffles its board. Olivier Goudet, who has been chairman since JAB’s acquisition in 2018, will step down and be replaced by his colleague Konrad Meyer. Furthermore, Larry Billett, Pret’s chairman from 2003 through 2011 and a board member until 2018, will return as a non-executive director and chair of the audit committee.

Redemption Roasters has closed its latest £2.7m investment round as it is set to treble revenue over the next three years to help drive expansion and increase impact in London and across the UK. Launched in 2017, Redemption Roasters has recorded over 60% year-on-year growth since 2019 with annual revenues forecast to exceed £25m by 2026. 

The Scottish hospitality industry will be hit by new immigration rules, according to Fragomen. According to the law firm, businesses looking to hire overseas talent are facing a “new hurdle” after the government implemented the new salary threshold in early April.