News
The latest industry news from the business journalists at Catering Today. We bring you the latest on what’s happening in the restaurants, bars and catering industry, with exclusive stories, analysis, best practice and industry comment.
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Aug- 2024 -2 August
Today’s news in brief – 02/08/24
Welcome Break has seen 2023 profits rise by 7% to £72.7m. The operator of service stations with F&B outlets and hotels attributed its performance to the peak trading of the holiday period from June to September 2023, when many sites and units broke their weekly trading records. Edinburgh hospitality will…
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2 August
The Croft pub hits the market for £1.35m
Lisini Pub Company’s The Croft Bar and Restaurant in Glasgow is up for sale for £1.35m. Located on Lugar Place, within the South side of Glasgow, The Croft has a “reputation” among locals and the wider community for its food and drink offering, as well as its sports showings and…
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2 August
Welcome Break FY profits rise 7% to £72.7m
Welcome Break, the operator of 35 motorway service stations with F&B outlets and hotels, has had a successful year to 31 December 2023 as operating profits rose by 7% to £72.7m. According to the group, the year was successful in terms of overall performance, particularly in the peak holiday periods…
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2 August
Riva Blu restaurant opens at Spring Leeds
Italian restaurant Riva Blu has opened a new location at The Springs Leeds. With food drawing on inspiration from Southern Italy and the interiors featuring plush teal accents, the latest addition to the retail park will provide guests with an open kitchen, cocktail bar and al fresco terrace area. Part…
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2 August
Edinburgh hospitality braces for sales rise as Fringe begins
Edinburgh hospitality is due to benefit from a major rise in sales as Edinburgh Fringe and other festivals have kicked off today (2 August). Last year, Edinburgh welcomed almost 250,000 people to its festivals, which helped deliver a 30% rise in average daily sales for hospitality venues in the city…
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1 August
Today’s news in brief – 01/08/24
Stonegate Group has secured a refinancing deal from TDR Capital, following strong demand from investors. This refinancing will extend the group’s maturities on the revolving credit facility and the senior secured notes to January 2029 and July 2029 respectively, and reduce leverage from 8.2x to 6.5x RR EBITDA today. Restaurant…
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1 August
Restaurant groups see ‘strong’ delivery sales amid wet weather
Managed restaurant groups in Britain have recorded the strongest growth in delivery sales since the end of the pandemic restrictions due to unseasonal weather, according to CGA by NIQ’s latest Hospitality at Home Tracker. According to the Tracker, like-for-like sales in June were 17.1% higher than in the comparable month…
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1 August
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%. The bank voted by a majority of 5–4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…
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1 August
Jerk Junction to open first shopping centre location
Caribbean street food brand Jerk Junction has announced that it is set to open its first shopping centre location in the Trafford Centre. Jerk Junction will occupy a 917 sq ft space in The Orient, located next to HOP Vietnamese. The brand was founded in Chorlton and its menu includes…
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1 August
Brother Marcus to open new restaurant in Covent Garden
Eastern Mediterranean restaurant Brother Marcus has selected The Yards, Covent Garden, to launch its largest location to date. Located at 23 Slingsby Place, Brother Marcus’ new 4,190 sq ft two-floor venue will include two terraces overlooking The Yards’ St Martin’s Courtyard and will have two bars – one on each…
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