Interest Rates
Coverage examines how changes in interest rates affect the UK hospitality and foodservice sector, including impacts on borrowing costs, business investment, consumer confidence, and property finance. Reporting provides context and analysis to help restaurant groups, pub operators, and catering businesses understand the financial environment and make informed strategic decisions.
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Feb- 2024 -1 FebruaryBusiness
800 licensed premises lost in Q4
The number of licensed premises in the UK dropped by 0.8% in the fourth quarter of 2023, with a net loss of 803 in the three months, according to data from CGA. It represents an acceleration of closures from the third quarter of last year, when numbers fell by only…
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1 FebruaryFood and Drink
Various Eateries reports FY23 losses despite 12% rise in revenues
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. While total…
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Jan- 2024 -29 JanuaryFeatures
Franchises in and mid-market out: The year ahead for the restaurant industry
The last year has been a difficult one for the restaurant industry. While the pandemic was tough for a lot of businesses, many managed to hold on to dear life only to go out of business in the years after. This has meant that the market for buying restaurants and…
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26 JanuaryFood and Drink
CGA warns border checks threaten deceleration of foodservices inflation
Apprehensions are growing about a resurgence in inflation as a result of new border checks despite the recent general downward trend, CGA has revealed. The government is set to implement new paperwork requirements for EU businesses sending animal and plant products to the UK from the end of January, with…
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15 JanuaryFeatures
Why are insolvencies more likely to affect the hospitality sector?
According to PwC’s outlook for 2024, there will be a significant rise in corporate insolvencies in 2024, just shy of 30,000 with smaller businesses accounting for the lion’s share. However, it further added that industries most impacted are likely to be hotels and catering, along with manufacturing, and transport and…
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15 JanuaryNews
Today’s news in brief – 15/01/24
Drake and Morgan reported record festive trading, with like-for-like sales up 31.7% against the same period in 2022. Christmas bookings were up more than 20% on last year across its whole estate. Despite this, the company saw its adjusted EBITDA fall to £4.1m for the year ended 26 March 2023…
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15 JanuaryPubs and Bars
More than 4,500 Stonegate pubs at risk amid £2.6bn debt
More than 4,500 Stonegate pubs could be at risk as parent company TDR capital seeks to refinance £2.5bn of debt, GMB Union has warned. Gary Lindsay, boss of TDR Capital which also owns supermarket giant Asda, told the Business and Trade Select Committee on Tuesday [9 January] he was ‘confident’…
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15 JanuaryNews
UK pubs see drinks sales growth in 2024, CGA finds
Britain’s pubs and bars have started 2024 with year-on-year growth in drinks sales, CGA by NIQ’s Daily Drinks Tracker shows. Average sales in managed venues in the week to Saturday 6 January were 25% ahead of the corresponding week in 2022—though this is inflated by the inclusion of New Year’s…
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12 JanuaryPubs and Bars
Corporate buyers return to pub market in 2023
Tenanted pub companies made up 23% of freehold buyers in 2023, compared with 12% in 2022, according to data from Christie and Co. Furthermore, Christie and Co’s pub price index dropped 8.1% for 2023 as a result of interest rate hikes and a stubborn inflationary environment during 2023. Activity was…
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Nov- 2023 -6 NovemberBusiness
Closures slow after licensed premises drop below 100,000
The number of licensed premises in Britain has fallen by 3.6% over the last 12 months to 99,916 sites, according to data from CGA and AlixPartners. The total at the end of September 2023 marks the first time it has dropped below 100,000 since records began. The 3,766 drop over…
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