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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Jul- 2023 -24 JulyRestaurants
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 JulyComment
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 JulyPubs and Bars
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 JuneBusiness
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 JuneBusiness
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 JunePubs and Bars
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 MayComment
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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11 MayNews
BoE raises interest rate for 12th time to 4.5%
The Bank of England (BoE) has raised interest rates for the 12th consecutive time to 4.5%, up from 4.25%. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by 0.25% in a bid to meet the 2% inflation target. The committee said it…
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2 MayPubs and Bars
Liberation Group expands managed pubs portfolio in Q1
Pub operator Liberation Group has revealed that for the 12 weeks to 22 April, its portfolio of managed pubs increased by 4.7% like-for-like in the UK, while food and drink increased by 4.4% and 2.8% respectively. While accommodation saw a rise of 13.9% among the group’s managed pubs, its estate…
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Mar- 2023 -23 MarchNews
BoE raises interest rates to 4.25%
The Bank of England (BoE) has announced that interest rates will be raised by 0.25% to 4.25%, the highest rate in almost 15 years, following an unexpected rise in inflation last month. The move marks the 11th consecutive increase from the BoE and follows the jump in inflation to 10.4%…
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