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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Dec- 2022 -23 December
Grind coffee losses widen despite turnover rise
Grind coffee has reported turnover of £16.9m, up from £8.2m but has seen its pre-tax losses increase to £3.4m from £2.5m. In results submitted to Companies House by its parent company Grind Holdings ltd, for the year ended April 2022, the company reported gross profits of £9.9m compared to £4.7m.…
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23 December
TRG amends and extends debt package to £340m
The Restaurant Group has announced that it has amended and extended its debt facilities to £340m. The revised debt package comprises a £220m term loan facility and a £120m Revolving Credit Facility (RCF) with its existing lenders. This also represents a £21m early repayment of its previous facilities, as the…
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23 December
The Inn Collection opens The Angel Inn following refurb
The Inn Collection Group opened The Angel Inn today (23 December) just before Christmas for food and drinks only, following renovations that began in October. The Angel Inn will be hosting its first overnight guests from 27 December. The inn, which is located on Helm Road in Bowness-on-Windermere, Cumbria, has…
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23 December
Chopstix opens 26th site of 2022 in Exeter
Chopstix has opened its new Exeter site this week, its 26th and final opening of 2022. Located on Exeter High Street, this latest restaurant opening brings the total estate up to 90 sites. Having announced the appointment of the company’s first franchise director this year, the opening of the first…
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22 December
Business energy bills to be capped under new gov scheme
The government has unveiled a new plan that is set to cap wholesale energy bills for businesses for an initial six-month period from 1 October. The Government Energy Bill Relief Scheme, unveiled today (21 September) by business secretary Jacob Rees-Mogg, will reportedly bring support for households, businesses and public sector…
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22 December
Top 10 UK casual dining brands to expand presence in 2022
According to the latest data from the Lumina Intelligence Operator Data Index, the top 10 UK casual dining brands are forecast to grow their combined outlet count by +1.1% to 5,566. This growth is set to be driven by Pret A Manger (+7.5%), Nando’s (+4.0%) and KFC (+2.1%). In contrast,…
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22 December
Benihana to open £2m Covent Garden restaurant
Benihana International has announced that it will open a new restaurant site at 31/32 Maiden Lane, Covent Garden, in spring 2022. The new site follows the closure of its Benihana Piccadilly site last month, which was open for 27 years. Some £2m is being invested into the new Covent Garden…
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22 December
Tuk Tuk opens second Edinburgh restaurant
Tuk Tuk Indian Street Food has opened its second Edinburgh site, on Drummond Street, in the city’s Old Town. Drummond Street is the third Scottish addition to the Tollcross (Edinburgh) and Sauchiehall Street (Glasgow) restaurants. The 90-cover restaurant which features a 35-cover group has a particular focus on vegetarian and…
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22 December
Hospitality real terms sales behind pre-pandemic levels
Hospitality turnover for the year ended September 2022 increased 1.3% to £135bn but this is a real terms decrease compared with 2019, according to data from CGA. Inflationary pressures have meant that even though a 1.3% increase is the first time a full-year figure has been above pre-pandemic levels, it…
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22 December
The Breakfast Club to partner with Redefine Meat in January 2023
The Breakfast Club will be partnering with Redefine Meat in January 2023 to offer vegan and vegetarian dishes across all restaurants. A new Redefine Meat menu will also be launched to coincide with Veganuary. All sites will get two new Veganuary specials, the works, a veggie and vegan fry-up, and…
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