Heineken has just sold its Russian beer business for £0.86 (€1), eighteen months after it pledged to pull out of the country following its invasion of Ukraine.
The move by the world’s second-largest brewer, which also produces Amstel and Birra Moretti, sees it take a huge loss with some estimating the company is down as much as £257 million as a result of the decision.
Having faced mounting criticism over the length of time it has taken the business to complete its exit from Russia, Heineken has finally sold up.
Its Russian business, which includes seven breweries and 1,800 employees, now belongs to Arnest Group and was sold for the incredibly small sum of £0.86 – despite being valued at around €300m.
Speaking on the sale, Chief Executive Dolf van den Brink refused to say why the search for a buyer has taken so long, saying only that the process had been ‘highly complex’.
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He continued: “While it took much longer than we had hoped, this transaction secures the livelihoods of our employees and allows us to exit the country in a responsible manner,” Heineken’s chief executive Dolf van den Brink said.
Dolf van den Brink also said that the company was ‘very mindful’ that Russian President Vladimir Putin recently signed a decree in July seizing Dutch group Carlsberg’s stake in a local brewer, adding: “It was key to get the vast majority of our international brands out because we didn’t want them to stay in the country.”
Heineken has also stressed that, despite the huge loss, its full-year 2023 outlook would not be affected as the business only produced around 4% of its annual income a year – equivalent to 10 million hectolitres of beer.
“It was key to get the vast majority of our international brands out because we didn’t want them to stay in the country,” Van der Brink said.
Glitzy Spinningfields bar famed for its bottomless deals shuts down
Daisy Jackson
Popular cocktail bar group Banyan has suddenly closed its glitzy bar in the heart of Spinningfields.
The restaurant and bar, which is part of the Arc Inspirations group that also operates Manahatta and Box, has shut down with immediate effect.
A sign has been posted in the window of the Spinningfields site of Banyan confirming its closure.
Banyan opened in 2018 and was the second site for the brand, which has been operating out of the Corn Exchange since 2015.
Inside, the huge 7,000sq ft space was split into spaces for drinking, dining and dancing, including a large mezzanine and a huge white marble bar.
Banyan is famed for its bottomless deals, whether that’s a classic bottomless brunch or their bottomless Sunday roast (endless Yorkshire puddings, gravy, wine, and roast potatoes).
It also offered two-for-one cocktails, all day every day.
The bar stands on the side of Spinningfields, directly opposite The Ivy and alongside The Alchemist.
Banyan in Spinningfields has shut downThe note in the window of Banyan
But now it has permanently closed its doors, thanking people for their custom over its almost-decade in Manchester.
The sign on the door says: “Banyan Spinningfields is now permanently closed.
“Thank you so much for your custom over the years, we’ve loved being part of this wonderful city and have made so many friends.
“Don’t be a stranger, we’d love to continue to welcome you to our Banyan bar in the Corn Exchange. Team Banyan.”
Bangkok Diners Club moves out of Ancoats just months after Michelin Guide win
Daisy Jackson
Bangkok Diners Club, the critically-acclaimed restaurant above the Edinburgh Castle pub, has closed its restaurant space.
The Thai restaurant was added to the Michelin Guide last October, not long after taking over the upstairs of the popular pub.
It also received a rave review in The Guardian from restaurant critic Grace Dent, who said it would be ‘one of Manchester’s hottest dining tickets’.
But now Bangkok Diners Club has decided its time in Ancoats is up, and has closed its beautiful restaurant space with immediate effect.
In an email sent to customers with reservations, they wrote that Bangkok Diners Club ‘sadly won’t be returning to Edinburgh Castle’.
Owners and husband-and-wife team Ben and Bo Humpheys aren’t leaving things there though, announcing plans to move into the Exhibition food hall on Peter Street.
Co-owner Ben Humphreys outside Bangkok Diners Club. Credit: The Manc GroupThe food earned them a place in the Michelin Guide. Credit: The Manc Group
They’ll be joining MoreJoy and pasta concept Anatra in the space, but bidding farewell to their own dedicated restaurant for now.
The email sent to customers reads: “We have just noticed that the system has allowed you to make a reservation during a time that we are closed. We apologise that this has happened.
“Ben and Bo are cooking at Exhibition during 2026 and Bangkok Diners Club sadly won’t be returning to Edinburgh Castle.
“Sincerest apologies for all the inconvenience caused.”
Georgina Pellant -
30th August 2023 
