Food and drink firm announces plans to more than double size
A hospitality and food and drink company announced its recovery from pandemic restrictions and plans to expand.
Since May 17, City Pub Group plc has seen sales at above 90 per cent of 2019 levels, with further improved trade in city centre sites since the beginning of September as return to work gathers pace.
The group has also acquired two new sites to its already 50 existing establishments “signalling confidence in expansion.”
The firm has also recovered thanks to the staycation boom. The firm has let out its more than 200 rooms to paying customers throughout the summer.
The executive chairman of The City Pub Group, Clive Watson said: “We have traded well since May and are emerging strongly with a streamlined and more profitable business. We have continued to implement a relentless focus on cost control and we are capturing cost savings identified and negotiated over the last year.
We are emerging from the pandemic in a good shape, well prepared for the challenges facing our industry.
With our good trading and strong balance sheet we have begun to look to expand again recently making two significant acquisitions. Our ambition is for the estate to be in excess of a 100 pubs.“
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