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- 2024 -20 December
Drake and Morgan FY turnover rises 5% to £45.5m
Drake and Morgan has revealed that its turnover has risen 5% to £45.5m for the year ended 31 March 2024. Alongside this, the company’s adjusted EBITDA rose to £4.4m, up from £4.1m the previous year. It comes as the company has stated that Christmas bookings are set to eclipse last…
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20 December
UKH disappointed in BoE decision to hold interest rates
UKHospitality has expressed disappointment in the Bank of England’s decision to hold interest rates at 4.75%, which came after a recent hike in both inflation and wage growth. At its meeting this week, the bank’s monetary policy committee voted by a majority of 6–3 to maintain the current rate. Three…
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20 December
New Cornish Bakery site sees ‘record’ trading in opening week
Cornish Bakery’s 65th opening in Milton Keynes has “surpassed all expectations”, taking a record-breaking £40k within its first week of trading. It comes as the new bakery opened to “unprecedented” demand, causing a queue of people to block the main flow of the shopping centre. Both the centre:mk and Cornish…
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19 December
Today’s news in brief – 19/12/24
Stonegate Group has invested more than £100m in its estate throughout 2024. More than £17m went to its pub partners estate to support publicans in creating “thriving local pubs”. Meanwhile, the group also undertook significant refurbishments including the £840k development of a brand-new Slug and Lettuce Glasgow, which opened in…
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19 December
SSP Group opens Peaky Blinders-inspired bar at Birmingham Airport
SSP Group has announced the launch of a Peaky Blinders-inspired bar at Birmingham Airport. The Shelby and Co. Bar and Restaurant will be part of Birmingham’s departure lounge with space for 290 diners. The restaurant offers both waiter service as well as an order at table technology, allowing customers short…
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19 December
BoE holds interest rates at 4.75%
The Bank of England (BoE) has voted to hold interest rates at 4.75%, following a recent hike in both inflation and wage growth. At its meeting this week, the bank’s monetary policy committee voted by a majority of 6–3 to maintain the current rate. Three members voted to reduce interest…
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19 December
Chopstix to place 100 neurodiverse people into work by 2027
Chopstix has launched an employment initiative to place 100 neurodiverse young people into work in the Chopstix estate by 2027. The chain has partnered with not-for-profit organisations DFN Project Search and Mencap, and London South East Colleges, to support internships for young people with learning difficulties. This latest announcement is…
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19 December
Blanchflower to open new site in Trafford Centre
Local independent brand Blanchflower will open a new café focusing on coffee and baked goods, next February in a 400 sq ft location in Trafford Centre. Founded by Phil and Claire Howells, Blanchflower is a family-business with sites in Sale and Altrincham, and will open its third location at Trafford…
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19 December
Stonegate Group invests £100m across estate in 2024
Stonegate Group has invested more than £100m in 2024 to “enhance” its estate, including major refurbishments as well as new concept launches.As part of its overall investment activity, the company invested more than £17m in its Pub Partners estate to support publicans in creating “thriving local pubs” in 2024. Significant…
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18 December
Today’s news in brief – 18/12/24
Azzurri Group has seen profits rise from £21.3m to £41.9m in FY24, amid a year of “strong financial performance and transactional strategic progress. The Zizzi owner reported that revenues rose by 185 to £303.1m, while EBITDA more than doubled to £32.1m. It also acquired the UK&I master franchise rights for…
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