Cost of Living
Coverage explores the impact of economic pressures on consumer spending, staff retention, and operational costs across the UK hospitality sector. We report on inflation, wage demands, energy prices, and discretionary income trends, analysing how restaurants, pubs, caterers, and other operators are adapting pricing, staffing, and promotional strategies in response to shifting demand and household budgets.
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Jul- 2024 -31 JulyTrade Associations
UKH calls new LPC 2025 remit ‘disruptive and unhelpful’
UKHospitality has called changes to the Low Pay Commission’s (LPC) remit for 2025 “disruptive and unhelpful”, claiming that wages rates must strike an “affordable balance to help deliver growth for both businesses and staff”. Business secretary Jonathan Reynolds has ordered the LPC to factor in the future cost of living…
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8 JulyNews
Today’s news in brief – 08/07/24
Insolvencies of pubs and bars have jumped 30% in a year, according to data from UHY Hacker Young. For the year ended 30 April 2024, pub and bar insolvencies continued to rise over the last year with fewer and fewer people willing or able to pay an average of £4.75…
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8 JulyPubs and Bars
Slug and Lettuce posts pre-tax loss of £3.1m
Slug and Lettuce has reported a pre-tax loss of £3.1m for the 12-month period to September 2023 after the bar chain initially recorded profits of £2.2m in 2022. Slug and Lettuce has attributed its performance to revenues inching down from £48.6m to £48.5m due to “the impact of the macroeconomic…
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Jun- 2024 -12 JuneRestaurants
Fat Duck parent company posts pre-tax loss of £1.4m
Heston Blumenthal’s Fat Duck Group posted a pre-tax loss of £1.4m for the year ended 28 May 2023. In documents filed on Companies House SL6 Ltd, the parent company of Fat Duck and the Hinds Head pub in Bray saw a dip in turnover from £11.5m in 2022 to £9.5m…
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May- 2024 -15 MayFood and Drink
Hospitality leaders remain cautious amid rise in revenues
Britain’s hospitality leaders remain cautious amid tentative signs of improved consumer spending and relief on some costs, CGA by NIQ’s latest Business Confidence Survey reveals. The exclusive poll revealed that 34% of leaders feel confident about prospects for the hospitality market over the next 12 months—down by seven percentage points…
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Apr- 2024 -23 AprilBusiness
Gov delays tipping law until October 2024
The UK government has delayed the implementation of the tipping law from July 2024 to October 2024. The Department for Business and Trade published an updated Code of Practice on Monday (22 April 2024) on the fair and transparent distribution of tips that will have legal effect under the Employment…
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9 AprilPubs and Bars
RedCat losses widen to £31m in FY23
RedCat Pub Company has reported that net losses after tax widened to £31m during the year ending 2 April 2023, up from £5.4m in the year before. This comes despite the pub group achieving a turnover of £120.5m, up from £62.8m in 2022, and gross profits of £89.2m, rising from…
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2 AprilNews
Today’s news in brief – 02/04/24
Revolution Bars shares have been suspended after it failed to produce interim results. It follows the closure of eight Revolution bars across England in January with the company blaming the cost of living crisis. The group confirmed it was in talks with shareholders and investors, including hospitality entrepreneur Luke Johnson,…
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2 AprilPubs and Bars
Revolution Bars shares suspended amid uncertain future
Revolution Bars has had its shares suspended from trading on AIM after it failed to produce its interim financial results. The company was required to publish its results by 30 March 2023 but was unable to do so. It follows the closure of eight Revolution bars across England in January…
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Mar- 2024 -26 MarchNews
Today’s news in brief – 26/03/24
Employee satisfaction has risen, despite salaries decreasing, according to Access Hospitality’s Largest Hospitality Salary Survey 2024. The survey revealed that 37% reported earning less than £30k – an increase from 30% in 2023. Responses revealed a decrease in salaries across main job roles, with the exception of general management. However,…
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