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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Sep- 2022 -22 September
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising from 1.75% to 2.25%. The latest announcement from the Monetary Policy Committee (MPC) comes as inflation remains at record highs for the UK, and marks the seventh consecutive rise in…
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22 September
Las Iguanas to open Canterbury site
Las Iguanas has announced the opening of its new Canterbury location, taking up residence on the corner of High Street and Longmarket from 26 September, its first Kent location. The new 200-cover restaurant and cocktail bar will feature Las Iguanas’ signature tropical green plant walls, flashes of neon, lustrous Mexican…
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22 September
Comptoir H1 profits surge 150% to £11.5m
Comptoir Group, the owner and/or operator of Lebanese and Eastern Mediterranean restaurants, has announced its profits surged 150% to £11.5m for the six-month period ended 3 July 2022 (H1 FY22), compared to £4.6m in H1 FY21. Group revenues also jumped 158.9% to £14.5m, compared to £5.6m in the comparable period…
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22 September
Stoke by Radisson Red Liverpool appoints head chef
Radisson Red Liverpool, which is set to launch later this year, has announced the appointment of Paul Whitfield as the new head chef at the venue’s restaurant, Stoke. It is reported that Whitfield brings 30 years of fine dining culinary experience to his new role at Radisson Red Liverpool and…
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21 September
Hostmore revenues jump 147% in H1
Hostmore has announced that its revenues surged 147% to £98.5m for the 26 weeks ended 3 July 2022 (H1 FY22), compared to £39.9m in H1 FY21, when business was “significantly” impacted by the pandemic. The hospitality business owns brands including Fridays, 63rd+1st and Fridays and Go. Both volume and customer…
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21 September
City Pub Group trading hits pre-Covid levels in H1
City Pub Group has announced that trading volumes have returned to pre-pandemic levels in the first half of the year and remain stable despite a “very challenging” environment. In the six months to 26 June, 2022, trading was on an upward trajectory, with revenues of £26.1m, up from £8.9m the…
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21 September
Chef Kevin Dalgleish opens first restaurant
Scottish chef, Kevin Dalgleish, has opened his first restaurant and bar, Amuse, in Aberdeen, Scotland. Amuse is a 70-cover restaurant complete with a bar, private dining space, and an outdoor area. Dalgleish has used his classical training to create a menu that highlights the local and regional Scottish produce available…
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20 September
Number of hospitality company insolvencies up 59% in a year
The number of hospitality company insolvencies has risen by 59% over the past year amid spiralling cost pressures, according to figures from the Insolvency Service. The data found that 2,156 pubs, bars and restaurants went insolvent in the 12 months until the end of July, compared to 1,354 the year…
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20 September
Great Fosters to reopen Tudor Pass with new executive chef
Great Fosters has announced that the Tudor Room will be reopening as The Tudor Pass on October 1 2022, under new executive chef Alex Payne. Payne joins Great Fosters from The Thames Table at Crockers, where he was head chef. The Tudor Pass is a gastronomic restaurant with only seven…
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20 September
UK F&B sector M&A deal value falls 90%, says Oghma Partners
Corporate finance house, Oghma Partners, revealed that the UK food and beverage M&A deals are currently valued at around £270m compared to £3.9bn in the prior year, which is a decline of more than 90%. It is reported that the market activity in May to August 2022 also saw a…
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