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D&M achieves record Christmas sales

Published:  17 January, 2024

Drake and Morgan, operator of 17 premium bars and restaurants in London and Manchester, has announced record festive trading with like-for-like sales up 31.7% against the same period in 2022 (4 weeks to 31 December 2023).

The results come one month after the restaurant group, backed by Bowmark Capital, reported record bookings for Christmas 2023, up 20% across the estate on the year previous.

Both Manchester and London achieved double-digit growth in terms of sales, with the former being less impacted by the rail strikes.

Nearly all sites achieved a record sales week during the period including central London venues The Happenstance, Fable and Anthologist.

Jillian MacLean, CEO and founder of Drake & Morgan said: “After several years of disruption, we were finally able to deliver an uninterrupted festive season which is reflected in these excellent results.

“We are incredibly proud of the team whose hard work delivered not only exceptional trading but a fantastic experience for all our guests. These results are hugely encouraging for 2024 and we are optimistic for the year ahead.”

D&M’s positive results come amid a backdrop of doom and gloom for the hospitality industry. According to CGA, there were more than 10 pub, bar and restaurant closures every day in 2023. 

In the year to September 2023, the number of licensed premises in Britain fell by 3.6% from 103,682 to 99,916 – the first time the figure has dropped below 100,000.