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.
-
Feb- 2023 -2 FebruaryNews
BoE raises interest rates to 4%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 4%, the highest level in 14 years. The increase, which is the tenth consecutive increase, was decided after the bank’s Monetary Policy Committee (MPC) voted by a majority…
Read More » -
Dec- 2022 -15 DecemberNews
Bank of England raises interest rates by 0.5% to 3.5%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 3.5%, the highest level in 14 years. At a meeting held on 14 December 2022, the Bank’s MPC voted by a majority of 6-3 to increase rates by…
Read More » -
8 DecemberBreweries and Distilleries
Wild Beer Co enters administration
Somerset based brewer Wild Beer Co has ceased trading and entered administration as a result of rising costs. The company stated on its website that Undebt.co.uk had been appointed as administrators and are managing the affairs, business and property of the company. Administrators are looking into potential acquisitions for the…
Read More » -
Nov- 2022 -17 NovemberPubs and Bars
Fuller’s revenues hit £169 in H1
Fuller’s has seen revenues increase to £168.9m in its half-year results, up from £116.3m the prior year, as trade recovered from the impact of Covid restrictions. Over the period, like-for-like sales rose by 20% compared to the prior year, with Central London sales growing by 67%. Adjusted profit before tax…
Read More » -
8 NovemberFood and Drink
Food and drink inflation nears 20% amid storm of cost pressures
Inflation in food and drink prices hit a “record” high of 18.8% in September 2022, marking the eighth consecutive month of double-digit inflation, according to the latest CGA Prestige Foodservice Price Index. After reaching 15% for the first time ever in August, the Index surged again during September, meaning that…
Read More » -
7 NovemberFood and Drink
Halloween raises weekend spirits and drinks sales
Average drink sales in managed UK venues have grown 2% year-on-year in the seven days to 29 October due to the “growing popularity” of Halloween, according to CGA by NielsenIQ’s latest Drinks Recovery Tracker, This marks the sixth week of growth in a row, although it is a dip from…
Read More » -
3 NovemberBusiness
BoE raises interest rates to 3%
The Bank of England (BoE) has raised the base rate of interest to 3%, an increase of 0.75%, as it warned that the UK is set to face its longest recession since records began. At its meeting ending on 2 November 2022, the Bank’s MPC voted by a majority of…
Read More » -
1 NovemberRestaurants
Fulham Shore H1 revenues up 35% on pre-Covid levels
Fulham Shore has reported that its revenues for the six months to 25 September 2022 (H1) have increased by 35% compared to the same period in 2019 prior to the onset of Covid-19, and revenues have also grown 25% year-on-year. Overall, the group traded in line with management expectations in…
Read More » -
Oct- 2022 -7 OctoberPubs and Bars
JD Wetherspoon posts £30.4m loss
JD Wetherspoon has reported a pre-tax loss of £30.4m for the 53 weeks ended 31 July 2022 (FY22) amid what it called “painstakingly” slow recovery recovery post-Covid and rising cost inflation. The company also announced that it is marketing 32 pubs following its long-term strategy of opening larger pubs at…
Read More » -
Sep- 2022 -22 SeptemberNews
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising from 1.75% to 2.25%. The latest announcement from the Monetary Policy Committee (MPC) comes as inflation remains at record highs for the UK, and marks the seventh consecutive rise in…
Read More »
