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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Oct- 2024 -22 October
Michelin starred chef Rohit Ghai to open new Vatavaran restaurant
Michelin-starred chef Rohit Ghai, together with his business partner Abhi Sangwan, are set to open their new Indian dining destination, Vatavaran, on Beauchamp Place on 7 November 2024. The new opening will join the duo’s restaurant portfolio which includes Kutir in Chelsea and Manthan in Mayfair. Ghai’s culinary influence spans…
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22 October
The Revel Collective FY losses widen to £36.7m
The Revel Collective, former Revolution Bars Group, has seen its loss before tax widen to £36.7m in its preliminary results for the year ended on 29 June. The group said that the result was mainly due to non-cash exceptional impairment charges from its restructuring plan. Despite strong festive trading and…
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22 October
Big Mamma FY turnover hits £40m amid social media buzz
French hospitality group Big Mamma, which operates Italian-style restaurants, has reported that its UK turnover almost doubled from £26m in 2022 to £40m in the year to 31 December 2023. Meanwhile, pre-tax profits hit £3.7m during the period, rising exponentially since the £359k recorded for 2022. The group has attributed…
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21 October
Today’s news in brief – 21/10/24
The UK’s top 100 restaurant groups saw profits dip to £244.1m in 2024 from £246.5m, according to new research by UHY Hacker Young. The firm has called this dip in profits a “creditable performance” considering the challenges the sector has faced from the cost-of-living crisis and years of losses the…
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21 October
Hospitality insolvencies show signs of easing
Accommodation and food service insolvencies fell 16% month-on-month in August 2024, from 323 to 270, the lowest monthly figure since January 2024, according to the Insolvency Service. Furthermore, insolvencies were down 29% when compared with the same month last year. However, insolvencies in the sector increased 9% in the year…
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21 October
Top 100 restaurant groups see profits dip to £244.1m in 2024
The UK’s top 100 restaurant groups have seen their profits dip from £246.5m in 2023 to £244.1m in 2024, new research by UHY Hacker Young shows. UHY Hacker Young said that the slight dip in profits is a “creditable performance” considering the challenges the sector has faced from the cost-of-living…
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21 October
Rockwater to open new Sandbanks venue in Spring
Hospitality and lifestyle group Rockwater has confirmed that it will open a third venue, its largest one, in Sandbanks, Poole, during Spring. Positioned on the Sandbanks peninsula with views across the Jurassic Coast, the venue will be spread across two floors with an outdoor terrace. Rockwater will serve as a…
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21 October
King Pins to open third venue in Bristol in January 2025
King Pins will be launching its third venue and first out of Manchester in Cabot Circus, Bristol, in January 2025. Having launched two sites in Manchester in summer 2023 and May 2024, King Pins blends bowling with a hospitality offering. King Pins Bristol will have a variety of games and…
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21 October
170 hospitality bosses call for business rates action ahead of Budget
170 hospitality leaders have backed UKHospitality’s call for a lower level of business rates for the sector ahead of the Labour party’s first Budget at the end of the month. In an open letter to the chancellor, the CEOs of Britain’s most well-known and biggest pub groups such as Fuller’s,…
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18 October
Today’s news in brief – 18/10/24
Over 1,200 pubs will likely be closed this year, new data from CAMRA shows, compared to around 1,000 in 2023 and just over 800 in 2022. The “alarming” rate of licensee turnover in the pub trade comes as the crushing weight of unfair taxation and high operational costs leave businesses…
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