Restaurant company insolvencies have increased by 59% over the past year, rising from 984 in 2020/21 to 1,567 in 2021/22, according to Mazars. In the last three months alone, the number of restaurant companies becoming insolvent rose by 15% to 453, up from 395 the previous quarter. It comes as…
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The Business section on Catering Today delivers comprehensive coverage of the commercial landscape shaping the UK hospitality and catering industry. It reports on company performance, acquisitions, investments, market movements, and leadership changes across restaurants, pubs, and catering groups. With analysis of financial trends, growth strategies, and sector forecasts, Catering Today provides hospitality professionals with the intelligence needed to understand market dynamics and make informed business decisions in a competitive environment.
The CGA food price index has continued to rise with food price inflation hitting 19.9% for October 2022, making it nine consecutive months of double digit inflation. Core hospitality products like meat, fish, vegetables and fruit are now all in the 16%-to-19% range year-on-year. Food in total climbed a further…
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Sales in October 2022 for restaurants, pubs and bars rose by 1.5% when compared with October 2022, according to the latest data from CGA. Sales were also 4.3% higher than October 2019. This is the ninth month in a row that sales have been higher than pre-Covid comparatives. However, with…
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Hospitality businesses are more likely to cut trading hours in an attempt to cut energy costs, according to the ONS Business Insights and Conditions Survey (BICS). More than one in five hospitality businesses that were still trading in October 2022 reported that they had reduced trading hours while keeping the…
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Hospitality businesses will face a £3.6bn bill next April if business rates increase in line with inflation and current relief is ended, a business rates increase of £900m, on top of the £2.7bn the sector currently pays. Ahead of the Autumn Statement this week, UKHospitality CEO Kate Nicholls is urging…
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The British Beer and Pub Association (BBPA) has called on the chancellor to reconsider freezing beer duty to help keep the cost of a pint affordable this Christmas in an open letter ahead of the chancellor’s autumn statement. It is reported that the letter highlighted that the average costs for…
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Sales in UK hospitality venues during the 2022 FIFA World Cup are expected to be down by £44m compared to 2018, a new report from VoucherCodes has found. The 2022 World Cup Spending Report forecast that pubs, bars, and restaurants are set to make £395m in sales throughout the tournament,…
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The Bank of England (BoE) has raised the base rate of interest to 3%, an increase of 0.75%, as it warned that the UK is set to face its longest recession since records began. At its meeting ending on 2 November 2022, the Bank’s MPC voted by a majority of…
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Business confidence and outlook within the hospitality sector has reportedly plummeted among hospitality traders, according to new research targeting pubs, restaurants, and hotels by accountancy firm, Haysmacintyre. In light of the current economic crisis, the survey revealed that only 19% of operators are optimistic about the industry’s prospects. This figure…
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Over a third of the UK’s hospitality sector is at risk of business failure in early 2023 due to soaring energy costs and the rise in the cost of goods, according to a new survey by UKHospitality, the British Beer and Pub Association (BBPA), the British Institute of Innkeeping (BII)…
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