News-In-Brief

Oct- 2024 -

18 October

Today’s news in brief – 18/10/24

Over 1,200 pubs will likely be closed this year, new data from CAMRA shows, compared to around 1,000 in 2023 and just over 800 in 2022. The “alarming” rate of licensee turnover in the pub trade comes as the crushing weight of unfair taxation and high operational costs leave businesses…

17 October

Today’s news in brief – 17/10/24

Deliveroo’s GTV rose 6% to £1.7bn in Q3 as the company maintains its full year guidance. Total orders increased 2%, while GTV per order was up 4% in constant currency and revenue increased 4% to £498m. In the UK&I, GTV growth reached £1bn, a 7% increase year-on-year, with order growth…

16 October

Today’s news in brief – 16/10/24

Hospitality business rates will likely hit £914m, UKH has warned, as September’s CPI inflation data will cause an additional £48m increase to business rates. As a result of this, the trade body is calling on the chancellor to introduce a lower, permanent and universal multiplier for hospitality. Just Eat orders…

15 October

Today’s news in brief – 15/10/24

Papa Johns’ UK arm has reported that pre-tax losses widened to £18.5m in FY23 from a previous loss of £2.9m in 2022. The group saw its turnover rise slightly from £95.1m to £95.9m during 2023 in the UK. It comes after the group revealed earlier in March 2024 that it…

14 October

Today’s news in brief – 14/10/24

Revolution Bars has officially changed its name to ‘The Revel Collective’ from today (14 October), as the board decided that it would “better reflect the make-up of the group”. The Revel Collective has also strengthened its board, having appointed Gavin George and Charlie McVeigh as non-executive directors effective from today.…

11 October

Today’s news in brief – 11/10/24

Boxpark has had its new location in Birmingham greenlit. Located in Digbeth, Boxpark has signed a 15-year lease in the Floodgate Street Arches. The new opening, which will see the group invest roughly £5m into the local area, is expected to create around 200 new jobs upon launch in 2025. …

10 October

Today’s news in brief – 10/10/24

UKH has called for a consultation of the government’s Employment Rights Bill to avoid “unintended negative consequences”, saying the changes are not without cost. While the trade body welcomes the government’s recognition of the importance of employment flexibility, it believes that protecting the sector’s access to zero hours contracts is…

9 October

Today’s news in brief – 09/10/24

Loungers’ total revenues rose 19.2% to £178.3m during H1, as it opened a total of 17 new locations. It comes as Loungers’ like-for-like sales rose by 4.7% over the period. According to the operator of brands Lounge, Cosy Club and Brightside, its performance during H1 demonstrates its ability to “consistently…

8 October

Today’s news in brief – 08/10/24

TGI Fridays has been acquired by D&D London owners Breal Capital and Calveton UK for an undisclosed sum. The sale, which is based on 51 restaurants, should secure the future of some 2,000 jobs across those sites. Breal Capital and Calveton are also hopeful that they may be able to…

7 October

Today’s news in brief – 07/10/24

TGI Fridays is close to a rescue deal with D&D London owners Breal Capital and Calveton, as they could acquire the majority of the business as early as 7 October. Sky News has learnt that the rescue deal will salvage more than 2,000 jobs and an announcement is likely to…