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.

  • Aug- 2023 -
    23 August
    Catering CompaniesCompass Group gifts £500k to fund apprenticeships in West Midlands

    Compass Group gifts £500k to fund apprenticeships in West Midlands

    Compass Group has gifted £500,000 to West Midlands Combined Authority (WMCA) to boost hospitality and professional services courses in the West Midlands region through the Apprenticeship Transfer Levy Fund. The new funded apprenticeships to WMCA will help budding chefs, restaurant front of house staff or other supporting roles land jobs…

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  • 3 August
    NewsBoE raises interest rates to 5.25%

    BoE raises interest rates to 5.25%

    The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to combat inflation. The bank’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target. At its meeting ending on 2 August 2023, the MPC voted by a…

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  • 1 August
    Pubs and BarsLiberation Group occupancy rates exceed 80% in H1

    Liberation Group occupancy rates exceed 80% in H1

    Liberation Group will be targeting becoming the “leading” provider of pub accommodation in the South of England, following the success of its Butcombe Pubs and Inns business, which has seen occupancy rates exceed 80% across the group.  During the first half of 2023, the group has grown its accommodation offering…

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  • Jul- 2023 -
    24 July
    RestaurantsBrian Maule at Chardon d’or in Glasgow announces closure

    Brian Maule at Chardon d’or in Glasgow announces closure

    Maule opened the restaurant in 2001 serving seasonal Scottish food after working alongside chefs like Michel Roux Jr and Albert Roux. In an announcement on Facebook restaurant Brian Maule announced its closure after 22 years of business. Detailing that the closure was due to the ‘financial burden of the new…

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  • 17 July
    CommentLoans repayment, inflation, staff shortages: what else we can expect from hospitality insolvencies?

    Loans repayment, inflation, staff shortages: what else we can expect from hospitality insolvencies?

    What are the potential reasons for the continued increase in the number of hospitality insolvencies we’ve seen recently? Glyn: I think it goes back to the pandemic. Covid was a big thing for the sector and rightly, both the government and HMRC stepped in to help companies with furlough and…

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  • 3 July
    Pubs and BarsDrink sales rise YOY for ninth consecutive week

    Drink sales rise YOY for ninth consecutive week

    On-premise drink sales increased year-on-year for the ninth week in a row, up 7% compared with June 2022, according to the latest figures from the CGA. The CGA tracker, which calculates average sales in managed venues, found that the 7% figure for the seven days to last Saturday (24 June)…

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  • Jun- 2023 -
    28 June
    BusinessFoodservice price inflation hits 21.6% in May

    Foodservice price inflation hits 21.6% in May

    Foodservice price inflation in the UK rose to 21.6% in May, just below the record high of 22.9% seen in December 2022, according to the foodservice price inflation index from CGA. This number is slightly higher than in April where foodservice price inflation was at 21.4%. At the same point…

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  • 22 June
    BusinessBoE raises interest rate to 15-year high

    BoE raises interest rate to 15-year high

    The Bank of England (BoE) has raised interest rates for the 13th consecutive time to 5%, the highest level in 15 years, after it was revealed that inflation remained at 8.7% in May. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by…

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  • 22 June
    Pubs and BarsHigh inflation impacting night time economy says NTIA

    High inflation impacting night time economy says NTIA

    The Night Time Industries Association has said that high inflation is still impacting the night time economy and consumer spending. The trade association believes that despite the warm weather and three bank holidays last month operating costs and consumers tightening their belts have affected the sector. This comes after it…

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  • May- 2023 -
    19 May
    CommentIs the Green Transition hospitable for hospitality?

    Is the Green Transition hospitable for hospitality?

    At a recent conference I overheard a business leader decry, “how can we go green when we’re in the red?”. If that was true for the sector in which his business operated, it’s no less true for the hospitality sector which is facing a tsunami of knockbacks ranging from the…

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