Today’s news in brief – 01/02/24

Some 800 licensed premises have been lost in Q4, according to CGA data. This represents an acceleration of closures from Q3 last year, when numbers fell by only 0.3%. Food-led pubs have been relatively resilient, with a 7.6% drop since March 2020, while community and high street pubs have dipped by 11.8% and 11.2% respectively.

Various Eateries has reported an adjusted EBITDA loss of £2.2m, despite revenues growing 12% to £45.5m during the year ending 1 October 2023. The loss has been attributed to the board’s decision to absorb the majority of price rises in a bid to strengthen Various Eateries’ long-term prospects. The group has also had to take a “measured” approach to expansion during 2023 with the opening of two new Noci restaurants and only one Coppa Club.

Hydes has announced a raft of new environmental initiatives, which will be introduced across the business throughout the year. Pubs across the estate have also committed to recycling cooking oil in kitchens and cutting wastage.

Proper Pubs has launched its very first mid-market pub concept with Ashby Tavern in Hinckley, opening on Thursday 22 February, following a £265k refurbishment. Outside, it boasts a spacious beer garden seating up to 200 people and will be transformed to become a friendly local for all to enjoy.