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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Jul- 2022 -25 July
The White Cross named Great Pub Awards finalist
The White Cross in Lancaster has been shortlisted as a finalist in the ‘Best Young Pub Chef’ and ‘Pub of the Year Award’ at the Great British Pub Awards 2022. The White Cross is set within a refurbished cotton mill warehouse, which was transformed into a pub in the early…
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25 July
91 M&A deals delivered in hospitality sector in last year
Some 91 merger and acquisition deals were delivered during the year up to June 30 2022 in the hospitality sector, of which 77% were completed by UK buyers, according to Shaw and Co. The corporate advisory firm has launched its second annual in-depth report into the Food and Drink sector.…
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25 July
UK restaurant insolvencies surge 64%
UK restaurant insolvencies have jumped 64% year-on-year from 856 in 2020/21 to 1,406, as rising inflation, decreased consumer spending and labour shortages are driving restaurants out of business, according to new data from UHY Hacker Young. There were 431 restaurant insolvencies in the last quarter alone (in the three months…
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22 July
Las Iguanas adds two more sites to growing portfolio
Las Iguanas has announced it has added two more sites to its growing portfolio in Canterbury and Peterborough. The new 284-cover restaurant and bar on Longmarket in Canterbury will be spread over 7,000sq ft. It is set to open to the public in September. The 160-cover restaurant, bar and terrace…
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22 July
RedCat Pub Company acquires two new sites
RedCat Pub Company, an investment vehicle founded to invest in the UK pub sector, has announced its acquisition of The Meynell Ingram Arms and The Cock Inn Mugginton from Berkeley Inns Limited. The Meynell Ingram Arms Hotel was re-opened by Berkeley Inns in 2019. This historic Staffordshire pub was closed…
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22 July
Mitchells & Butlers sales slow amid inflationary pressures
Mitchells and Butlers has reported that like-for-like sales have fallen 0.9% in the 42 weeks ended 16 July 2022 (Q3), compared to pre-Covid levels in 2019, dropping from a 3.8% growth in Q2. The company said inflationary cost pressures continue to present a “major” challenge to the business and to…
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22 July
Franco Manca operator Fulham Shore returns to profit
The Fulham Shore plc has reported operating profits of £6.7m, compared with a loss of £4.8m in 2021 and profits before tax of £3.9m compared with a loss of £7.5m in 2021. During the year ended 27 March 2021, it also reported that its revenues increased 105% to £82.7m (2021:…
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21 July
Incipio Group to open The Libertine at The Royal Exchange
Incipio Group has announced the launch of The Libertine, a 7,000 sq ft venue that will open at The Royal Exchange in October 2022. The venue will comprise a large destination bar, casual drinks and dining spaces, two private dining rooms, and a main restaurant. The Royal Exchange is a…
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21 July
Chopstix continues expansion with Derby site
Chopstix has continued its 2022 expansion plan with its latest site set to open in Derby later this month. The new site on St Peter’s Street is the latest Chopstix store to open under the management of franchisee RTL who already operate five other locations across the UK, with ambitions…
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21 July
BaxterStorey and Searcys welcomes chef partner Richard Corrigan
BaxterStorey And Searcys, an independent hospitality food service, has welcomed Richard Corrigan as chef partner, to support in menu innovation and coaching. It said Corrigan is known for his “unique energy and passion” for seasonal ingredients sourced from Britain and Ireland. His restaurant, Corrigan’s Mayfair has been awarded London Restaurant…
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