A Week on the High Street - 22nd May

22 May 2019 by Local Data Company

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LEISURE

Pret a Manger owners JAB Holdings has agreed to buy smaller rival sandwich chain Eat JAB Holdings, who bought Pret last year has reached an agreement to buy around 90 sites that will all be turned into their vegetarian-only stores.  Veggie Pret was created following successful trials in London and Manchester in response to consumer demand for vegetarian and vegan options. 

 

KPMG have been appointed to handle the administration process for the Jamie Oliver Restaurant Group just two years after the celebrity chef put £12.7m of his own money into the business in a bid to save it.  25 restaurants are affected including 23 of the Jamie’s Italian sites and flagships Barbecoa and Fifteen.  It is understood Barbecoa St Paul’s has been bought back by a newly-created subsidiary under a ‘pre-pack’ arrangement which allows the best assets of a business to be purchased prior to administration.  The three Jamie’s sites at Gatwick airport will remain open, Fifteen Cornwall is unaffected as it operates under a franchise and similarly Jamie Oliver Holdings that operates a range of Jamie Oliver branded businesses will continue to trade as normal.

 

Late-night bar and club operator Deltic Group has announced its rebranding of the three Tiger Tiger sites that it bought from Novus Leisure last year, to its new Eden concept.  The sites, described as a ‘floral wonderland’,  will offer bottomless brunches, wood-fired grill dishes and sourdough pizzas as well as botanical-themed cocktails, craft beer and wines.  The sites will also offer three clubbing experiences, and a ‘voice of Eden’ karaoke space.  The Newcastle site will also have three private dining rooms.

 

Following last weeks’ announcement that Amazon was the ‘largest investor’ in a new £450m funding package for Deliveroo, calls have been made for the Competition and Markets Authority to investigate. Funding from the consortium, that also includes existing investors T Rowe Price, Fidelity Management and research company Greenoaks, will be used to invest in the food delivery service’s UK-headquartered tech team, to expand its delivery-only ‘super kitchen’ sites as well as other formats that will help restaurants to expand at lower risk and cost to themselves. 

 

RETAIL 

Convenience Store chain Co-op has agreed a deal with Superdrug to supply its own-brand range of food-to-go in a deal that will initially see more than 40 of its products, such as sandwiches, salads and fruit in seven Superdrug branches at transport hubs.  A Co-op ‘main’ will also be included in the meal deals with the health & beauty retailers’ drinks and snacks. 

 

JYSK, the Scandinavian-owned furnishings group has announced plans to increase its store portfolio in the UK by almost 350% by 2024.  The retailer’s global plan to reach 5,000 stores worldwide will see the UK total at 52.  There are plans to increase the UK stores from 16 to 19 by August this year with another six or seven in the pipeline for 2020.

 

Choccywoccydoodah, the Brighton founded chocolatier, has gone into liquidation as a result of ‘challenging trading conditions’.  Best known for designing and making bespoke cakes for celebrities and chocoholics alike the retailer operated from the original site in Brighton and London’s Covent Garden as well as Eastbourne.

 

PROPERTY 

Shaftesbury has signed three new dessert brands to its Chinatown estate in London: Kova Patisserie, a Japanese fusion dessert specialist will open in May in Newport Court; Taiyakiya, a new Cuppacha Bubble Tea concept that offers traditional fish-shaped taiyaki cakes will open next to Kova and Meet Fresh, a Taiwanese healthy dessert brand, will open in Shaftesbury Avenue. 

 

Sports Direct subsidiary Sportsdirect.com Retail is in advanced negotiations to sell a selection of properties in Derbyshire in a deal worth £120m.  The properties, at Brook Park East in Shirebrook, that includes Sports Direct’s headquarters, a distribution hub and retail space will be sold to KWAA Logix Sportivo and on completion the retailer will take a 15-year lease of the properties to continue to use them for their current purposes.  

 

East Kilbride Retail Park in South Lanarkshire has been bought by Corum Asset Management from Aberdeen Standard Investments for £12.25m.  The site, that is located next to Kingsgate Retail Park, covers 59,400 sq ft and has existing tenants including The Range, Pets at Home, Currys PC World and Halfords.

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