Peachtree Group’s Post

Part of the TGI Fridays business is on the verge of being rescued after news emerged of a proposed sale of certain sites to Breal Capital and Calveton emerged over the weekend. The sale could complete as soon as Monday and sounds like it could include between fifty and fifty five of TGI Fridays restaurants which would see around two thousand jobs preserved. The future of any remaining outlets and jobs is presently unknown. It would be the latest restaurant acquisition by Breal Capital and Calveton, who recently acquired other restaurant brands from D&D London last year. If the sale does complete then it would be a very positive result out of the administration process, which is often met with such negativity whenever directors take steps to place a company into administration. I was giving a presentation a few weeks ago, shortly after the news of the administration broke, and I asked who had been to a TGI Fridays restaurant in the past twelve months. Only one person put their hand up, and that person was me and arguably that was more a result of circumstance rather than a willing decision. Arguably this highlights the challenge of revitalising the brand that any potential owner faces. Certain restaurants continue to do well and suggest casual dining is not dead, but equally if you concept and value for money falls short of customer expectations it could find itself on a similar trajectory to other casual dining brands like Byron Burger. #insolvency #businessrecovery #restructuring #turnaround #business #restaurant #casualdining #tgifridays #accountant #london

2024 has been a tough year for the New York and New Jersey restaurant industry, with an unprecedented number of closures. In New Jersey, 450 beloved eateries have shut down, and New York has seen a staggering 1,200 closures. 🌆🏙️ In our latest blog post, we dive into the key factors driving these shutdowns, including economic downturns, labor shortages, supply chain disruptions, rising operating costs, changing consumer preferences, and increased competition. 📉💼 But it's not all doom and gloom. We also explore actionable strategies for survival, from diversifying revenue streams and optimizing operations to embracing technology and adapting to trends. 🍽️🚀 Don't miss this essential read for restaurateurs navigating these turbulent times! 📖👇 🔗 Read the full article here https://loom.ly/FOKA0Hg

Learn why it's important for retailers & restaurants to strengthen power management and see how Sonic is leading by example by prioritizing surge protection Read the article ⚡ https://lnkd.in/eYwhGaDg #Retail #RestaurantMaintenaince #Restaurant Story by Samuel Hammers, Eaton

A 30-year-old, market-leading restaurant group was facing difficulties with its newly opened sister restaurant. The restaurant had opened well, but it was experiencing a nosedive in sales. The head of the company, a lifelong successful restaurateur, was stuck, scared, and unsure what to do. Using the Restaurant Reinvigorator process, I guided them through a re-focus on what the guest was asking for. The restaurant made a complete turnaround. It has experienced annual same-store growth every year since. This unit that was once on track to fail has become an expansion vehicle. Additionally, even though ownership was satisfied with the performance of their flagship unit, I showed them how much that location could be improved, too. Using the Power, Revenue Builder, and Creating Consistency processes I introduced updated management techniques at both units. The results? Record sales, profits, and a smooth transition to a new breed of management. The organization now has two more units in development and is envisioning more. Unlock record sales and profits for your restaurant. Let's talk!: https://lnkd.in/g8-EqZNx #restaurateur #restaurant #success #businessadvice

San Francisco Business Times: New downtown S.F. restaurant openings are outpacing closures, report finds In 2022 and 2023, the downtown area saw a notable increase in food and beverage businesses, with over twice as many openings as closures, based on a survey by the Downtown SF Partnership, which covers 43 blocks across the Financial District and Jackson Square. The report highlights the opening of 22 new businesses against 10 closures, indicating a positive shift towards downtown's appeal for dining and socializing post-pandemic. The survey, informed by two years of data and analytics from Placer.ai, recorded 29 new ground-floor businesses, 22 of which are in the food and beverage sector, including a variety of restaurants, cafes, and specialty food spots. Robbie Silver, the Partnership's Executive Director, expresses optimism for continued growth in dining, hospitality, arts, and culture. The report also details an initiative to transform downtown into a destination, reinforcing its potential as a nightlife hub, with sit-down restaurants and bars making up a significant portion of the area's 138 restaurants. Link to full article: https://lnkd.in/dJT3rpZz #DowntownSF #DowntownSanFrancisco #EconomicDevelopment #Report #EconomicRecovery #Hospitality #Events #Community #PublicRealm

BIG L&D news within the hospitality sector🚨🚨🚨 BURGER KING UK recently joined the likes of Pizza Express, Nando's UK & IRE, JKS Restaurants, Krispy Kreme and many more in revamping their learning strategy with Thrive Here are 3 things all hospitality brands should consider when reviewing their L&D: #Hospitality #LnD #LearningAndDevelopment

Hawksmoor Will Beckett #restaurantindustry Hawksmoor reports record year of turnover and profit: Steakhouse concept Hawksmoor has said that 2023 was a stand-out year for the business, as it saw turnover increase by more than 20% to a record £90m (2022: £73.9m). Meanwhile, its established restaurants delivered Ebitda margins in excess of 20%. The company currently operates 12 restaurants in London, Manchester, Edinburgh, Liverpool, Dublin and New York, with a site in Chicago opening later this year. Last May, the business opened a site in Dublin, which it said is hitting weekly sales highs in excess of €230,000 (£196,142). During the year, the company was also ranked number two among the World’s Best Steak Restaurants – the highest ranking of any steakhouse in Europe or the US. In what is the longest run for any hospitality company in the UK, Hawksmoor gained a 12th consecutive ranking among the top 100 employers in the UK (Best Companies) and a 13th consecutive year with a maximum three-star rating from the Sustainable Restaurant Association. Will Beckett, co-founder and chief executive of Hawksmoor, said: “2023 was a stand-out year for Hawksmoor. While it’s always fantastic to deliver great numbers, what really motivates my co-founder Huw [Gott], me, and the rest of the team is demonstrating how financially successful restaurants can be when they strive to deliver real integrity at scale. Being a B Corp and achieving great growth and profits is something we’re all extremely proud of.” Chair Dame Karen Jones added: “Hawksmoor’s results are, again, excellent. They are a testament to an unswerving focus on our customers, the quality and strength-in-depth of the management team, and to Hawksmoor’s enduring appeal as an employer of choice. These are special restaurants, and Hawksmoor is a special business.” This year, Hawksmoor will open its most ambitious restaurant to date – a 16,500 square-foot restaurant in Chicago. This is the company’s second site in the US, following its “highly successful and critically acclaimed restaurant” in New York, and further builds on the team’s international strategy and ambitions. We understand the environment that we’re in, and we feel like it’s time to start building on that momentum in the US.” 

Celebrity-backed restaurants are gaining traction in Canada, according to JLL, reported Connect CRE. "The company’s latest Celebrity Restaurants Report shows that Toronto has emerged as a top destination for celebrity restaurants in North America. Toronto, with 18, ranked sixth in North America among celebrity-backed restaurant openings between 2019 and 2024." "A total of 361 celebrity-backed restaurants opened across North America during that period. Toronto tied with Chicago and placed well ahead ahead of New York, Dallas, Miami, Washington, D.C.; and Kansas City, which posted nine openings apiece. The list includes cities in which five or more celebrity-supported eateries launched." https://lnkd.in/gnEKpYCv #canada #restuarants #celebrity

Earning a Michelin star is a dream for many restaurateurs, but a recent study suggests that not all accolades benefit business. The analysis highlights a paradox where some Michelin-starred restaurants have shuttered despite their prestigious recognition. 🌟🔒 The pressure to maintain high standards and the increased operational costs associated with Michelin accolades sometimes outweigh the benefits. What strategies might help establishments leverage such honours while maintaining their long-term viability? https://lnkd.in/g9yKhUZB #RestaurantIndustry #BusinessStrategy #MichelinStar #HospitalityManagement

Secret of SUCCESS is PLANNING and STRATEGIES 📌 The first step towards a successful restaurant launch involves creating a comprehensive business plan and assessing its feasibility. 📌 Once the business plan is in place, the next stage focuses on developing a unique and appealing concept for the restaurant. 📌 After finalizing the concept, the restaurant moves on to the product development stage, where the menu and recipes are carefully crafted. 📌 The fourth stage involves the actual construction and build-out of the restaurant space, ensuring it aligns with the chosen concept. 📌 Prior to the grand opening, the pre-opening stage involves various activities such as staff hiring, menu testing, and marketing preparations. 📌 Finally, after the restaurant is successfully launched, the focus shifts towards sustainability and potential expansion opportunities for long-term success. #restaurant #restaurantmanagement #plan #strategicplanning #businessanalysis #longterm #success #foodandbeverage #operationsmanagement