Cost Of Living

Three Joes confirms closure of Chichester and Fareham restaurants

24-Apr-2024 By James McAllister

Sourdough pizza brand Three Joes has confirmed the closure of two sites including its original restaurant in Fareham as the group grapples with cost pressures.

UKHospitality: Recession a ‘huge concern’ for industry

15-Feb-2024 By James McAllister

UK hospitality businesses face a further knock to consumer confidence after new figures show the UK economy fell into recession at the end of last year.

Cost of living ‘hinders’ performance at Boparan

10-Jan-2024 By James McAllister

Boparan Restaurant Group (BRG) has said the cost-of-living crisis has hindered its post-Covid performance despite it reporting a rise in turnover in its latest accounts.

BrewDog drops commitment to Real Living Wage as it looks to cut costs

10-Jan-2024 By James McAllister

BrewDog has dropped its commitment to the Real Living Wage as it looks to cut costs amid ongoing losses.

‘Challenging’ trading environment pushes Revolution Bars to close eight sites

05-Jan-2024 By James McAllister

Revolution Bars Group has announced it will shutter eight of its ‘least profitable bars’ in order to reduce future losses.

Michelin-starred Aberystwyth restaurant SY23 to close

18-Dec-2023 By James McAllister

Michelin-starred Aberystwyth restaurant SY23 is to close its doors at the end of the year, with its owners blaming 'the unprecedented challenges of the current financial climate'.

Restaurant groups see 'solid' November sales

13-Dec-2023 By James McAllister

Britain’s leading hospitality groups achieved year-on-year sales growth of 4.0% in November, the new CGA RSM Hospitality Business Tracker reveals.

Debt pile grows for top restaurant groups leaving some 'in a precarious position'

04-Dec-2023 By James McAllister

The collective debt burden of the UK’s top restaurant groups has broken through the £3bn mark for the first time, new research by UHY Hacker Young shows.

'Macro pressures' force Neat Burger to halve its UK estate

22-Nov-2023 By James McAllister

Neat Burger, the vegan fast food concept backed by Lewis Hamilton and Leonardo DiCaprio, is to close half of its UK estate amid large-scale financial pressures.

UK restaurant market growth remains behind pubs and fast food as outlet decline hinders recovery

15-Nov-2023 By James McAllister

The UK restaurant market is forecast to grow by 5.2% to a value of £18.7bn in 2023, the latest Lumina Intelligence Restaurant Market Report shows.

Rising costs and reduced footfall force Liverpool restaurant Lu Ban to close

14-Nov-2023 By James McAllister

Liverpool restaurant Lu Ban has permanently closed its doors after four years of trading, with a combination of rising costs and reduced footfall cited as being behind the decision.

‘Challenging year’ leads to erosion of profit margin for Rick Stein’s group

17-Oct-2023 By James McAllister

Rick Stein’s restaurant group has blamed the rapid increase in supply chain costs, particularly the rise in fish and oil prices, for contributing to an erosion of its profit margin.

‘Challenging trading environment’ hits profits at Comptoir Group

22-Sep-2023 By James McAllister

Comptoir Group has seen a decrease in profits amid a ‘challenging trading environment’ compounded by macroeconomic pressures.

Restaurant spending declines in August

05-Sep-2023 By Finn Scott-Delany

Restaurants saw a further decline in spending in August (-5.8%) from July (-2.5%), according to the latest figures from Barclaycard.

Investment demand in hospitality and leisure space remains low

03-Aug-2023 By Shwetali Sapte

Investment demand is currently at just 13.9% across the hospitality and leisure space, dropping as low as 7.5% in the North East, according to analysis by property finance specialist Sirius.

Muted sales rise for restaurants in May as pubs benefit from bumper bank holidays

21-Jun-2023 By James McAllister

Britain’s leading managed restaurant, pub and bar groups achieved an eighth consecutive month of year-on-year sales growth in May 2023, the latest Coffer CGA Business Tracker shows.

Consumer appetite for hospitality holds steady amid cost of living crisis

07-Jun-2023 By James McAllister

New research from CGA by NIQ reveals consumer demand for Britain’s pubs, bars and restaurants has held steady during months of rising household bills.

QSR occasions rise as diners seek inexpensive meal options

31-May-2023 By James McAllister

QSR occasions have increased by 1.3 percentage points (ppts) year on year, according to new data from Lumina Intelligence, as consumers seek inexpensive meal options amid the cost-of-living crisis.

Rising cost pressures force Cardiff restaurant Bully’s to close after almost 30 years

09-May-2023 By James McAllister

Family-run Cardiff restaurant Bully’s has permanently closed its doors after almost 30 years as a result of rising cost pressures.

Cost pressures force closure of UK's first 'robot-themed' restaurant

14-Mar-2023 By James McAllister

Robotazia, dubbed the UK's first 'robot-themed' restaurant, has permanently closed its doors because of rising cost pressures.

Scottish hospitality pleads for more support amid ‘tidal wave of economic challenges’

31-Jan-2023 By James McAllister

Hospitality representatives in Scotland have called on the country's government to provide the sector with more financial support after three quarters of operators warned they may not last the year.

Harriet Mansell to 'diversify' business with launch of wild food bakery

13-Dec-2022 By James McAllister

Lyme Regis-based chef Harriet Mansell is to overhaul the site currently occupied by her tasting menu restaurant Robin Wylde and launch a bakery within the same space next year.

Rising cost of living to hit spend in foodservice in 2023, says report

25-Nov-2022 By Restaurant

Nearly 90% of consumers will be looking to save money when eating out next year as discretionary income falls, according to new forecasts from IGD’s Eating In Vs. Eating Out report.

Consumers to reduce food and drink spend over festive season

23-Nov-2022 By Shwetali Sapte

Nearly half of UK consumers expect to spend less over the festive season, compared to 22% for the same period last year, according to the latest EY Future Consumer Index.

Larkin Cen's Woky Ko shutters two sites amid 'unviable price pressures'

26-Oct-2022 By James McAllister

Larkin Cen's Bristol-based Woky Ko group has permanently closed its restaurants on Queens Road and at the city's Cargo development, with the chef citing rising price pressures.

Hospitality sector faces 'hundreds of thousands of closures' unless Government acts on energy crisis

08-Sep-2022 By Restaurant

Hospitality leaders are piling pressure on the Government and newly-appointed Prime Minister Liz Truss to act on spiralling energy costs, saying that hundreds of thousands of businesses will close if it doesn’t.

"It's time to bring back the ‘too good to be true’ offer": Tom Kerridge launches £15 menu

02-Sep-2022 By Restaurant

Tom Kerridge has responded to the rise in the cost of living with the introduction of a £15, two-course set lunch across three of his restaurants.