Restaurants
The latest news and updates on restaurants, 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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Mar- 2018 -23 March
Prezzo to shut 94 restaurants affecting 500 jobs
Italian restaurant chain Prezzo has signed a deal agreeing to shut 94 of its 300 outlets across the UK. The company approved the company voluntary agreement (CVA) in a shareholder meeting today. The CVA proposal was backed by 88% of the company’s creditors, and will see the outlets close in…
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23 March
Restaurant industry experiencing ‘significant increase in financial distress’
New research has shown that subdued consumer spending and ‘fierce’ promotional activity in the UK’s restaurant industry has contributed to a significant increase in financial distress across the sector over the past year. Experts also warned that some restaurant owners may struggle to afford the commercial rent payments due on…
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23 March
Carluccio’s seeks private equity buyer following profit drop
Italian restaurant chain Carluccio’s is looking for a private equity buyer after appointing advisers KPMG to assess its options. The Financial Times reported that KPMG had approached Wagamama owner Duke Street and Pret a Manger owner Bridgepoint over a possible buyout. It has also sought turnaround specialists and private equity…
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21 March
Restaurants back One Planet Plate campaign
Restaurants are backing the Sustainable Restaurant Association’s One Planet Plate Campaign. The Sustainable Restaurant Association campaign is due to launch on 24 March to coincide with WWF’s Earth Hour, and encourages participating restaurants to serve special sustainable dishes. Each dish will highlight a sustainability issue and address it by offering…
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20 March
Jamie Oliver refutes claims restaurant CEO is ‘an incompetent failure’
Celebrity chef Jamie Oliver has denied claims that his brother-in-law and CEO is ‘a bully’ and ‘incompetent’. An article published in The Times, stated that an insider had informed the paper that morale had collapsed since Hunt had been appointed and that he is ‘a bully who is destroying his…
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20 March
35 of the UK’s Top 100 restaurant groups are loss making
35 of the UK’s Top 100 restaurant groups are now loss-making, up 75% from just 20 last year, new research shows. Chartered accountants, UHY Hacker Young, found that trading conditions have become increasingly difficult for restaurant chains dealing with oversaturation in the market as well as rising costs. Casualties include…
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19 March
Former Locanda Locatelli chef enlisted for new Italian restaurant
Louis Korovilas, a former chef at London’s Michelin-starred Locanda Locatelli, has taken on the head chef role at a new Italian restaurant in Covent Garden. Korovilas has also previously worked at the Michelin-starred French restaurant Pied à Terre. The new eatery, called Bancone, will focus on fresh pasta and is…
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16 March
Marco Pierre White to open second Chophouse restaurant in Manchester hotel
Marco Pierre White is to open a new Chophouse brand restaurant at Manchester’s Velvet Hotel in April. Called Mr. White’s English Chophouse, the restaurant is to open following an agreement between Black & White Hospitality, which owns the franchise rights to five of White’s restaurant brands, and the hotel’s management…
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16 March
Vegan, alcohol-free restaurant launches crowdfunding campaign
London-based vegan, wheat and alcohol-free restaurant Redemption Bar has launched a £300,000 crowdfunding campaign on Crowdcube to open two new outlets. Developed by former brand director of Virgin, Catherine Salway and New Zealand restaurateur and raw vegan chef, Andrea Waters, the company already has two restaurants in Shoreditch and Notting…
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16 March
Northern restaurant and bar scene dominates London
New analysis by Northern Restaurant and Bar, trade show for the Northern hospitality industry and hospitality data and insight specialists, CGA has shown that the “M62 corridor” spanning Liverpool, Manchester and Leeds has become a hotspot for new restaurants and bars. The number of city centre outlets within those locations…
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