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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May- 2023 -15 May
Pub Punch Q2 revenues hit £158m
Punch Pubs has recently reported revenues of £158.1m for the 28 weeks ended February 2023, compared to £142.6m for the same period last year. Earnings before taxes for the group were £37.5m, slightly less than the £38.6m reported the previous year. Punch Pubs has said that last year’s results benefited…
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15 May
Silures Restaurant and Bar to open in Cardiff
Silures Restaurant and Bar is set to open its door on 19 May in Cardiff. The new restaurant is the flagship venue for Andrei Maxim and Daf Andrews of the newly founded A&M Hospitality Group. The pair are also behind the Savoy Grill by Gordon Ramsay, Galvin Bar and Grill…
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15 May
MJMK breaks through £1M crowdfunding target in hours
Restaurant group MJMK has reached its £1m crowdfunding target within the first hours post launch, with the current total close to £1.2m. The campaign is aimed at raising funds to open a new concept with celebrated chef-partner Santiago Lastra (of KOL) and accelerate the expansion of the popular Casa do…
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15 May
Gordon Ramsay Restaurants posts record FY revenues of £79m
Gordon Ramsay Restaurants has revealed record revenues of £78.9m for the year ending August 2022, an increase from £26.2m the previous year. The group attributed its performance to its post-Covid recovery as it enjoyed “12 months of uninterrupted trading” in the UK after the pandemic had brought operations to a…
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12 May
Mercato Metropolitano to offer local entrepreneurs rent-free tenure
Mercato Metropolitano (MM), part of the MMovement, has unveiled a new initiative that will offer a local entrepreneur a rent-free tenure in a bid to encourage new business. The marketplace, which runs a number of sites across London and is soon to open a new site in Ilford, is opening…
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12 May
Jesmond Dene House appoints new executive head chef
Jesmond Dene House, a restaurant with rooms in Newcastle upon Tyne, has promoted chef Eddie Saint from senior sous chef to the role of executive head chef with immediate effect. Saint will be taking over from Danny Parker and will oversee all events at the house as well as the…
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12 May
Foodservice price inflation falls below 20%
Foodservice price inflation fell to 18.9% in March, the first time it has dropped below 20% in five months, according to data from CGA’s Foodservice Price Index. The fall in March is the fourth consecutive fall in year-on-year inflation. While prices increased by 0.7% month-on-month between February and March, there…
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12 May
Badiani Gelato to open branches in Essex and Brighton
Gelato brand Badiani has announced it is expanding with new openings in Lakeside Shopping Centre, Essex this May and Duke Street, Brighton, in June. The new Essex branch will be the chain’s first location outside of London and will officially open on Friday 26 May, while the Brighton site will…
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11 May
Wendy’s global sales rise by 10% to $3.3bn in Q1
Fast food chain Wendy’s has reported a 10% increase in global systemwide sales to $3.3bn (£2.6bn) during the first quarter of 2023. International systemwide sales grew by 21% to $419m (£332m), compared to $360m (£285m) for the same period last year. Revenues for the company increased by 8.2% to $528m…
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11 May
BoE raises interest rate for 12th time to 4.5%
The Bank of England (BoE) has raised interest rates for the 12th consecutive time to 4.5%, up from 4.25%. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by 0.25% in a bid to meet the 2% inflation target. The committee said it…
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