Finance

Caffè Nero reports strong first half performance

30-Jan-2023 By Restaurant

Caffè Nero has reported sales of £150m for the first half of its current financial year - June to November 2022.

Nearly 20,000 hospitality businesses under 'significant financial distress'

27-Jan-2023 By James McAllister

Nearly 20,000 hospitality businesses are reported as being under 'significant financial distress', according to Begbies Traynor Red Flag Alert report.

Casual dining a 'high risk sector' as cost of living crisis bites

25-Jan-2023 By Restaurant

The casual dining sector likely to be one of the biggest casualties of the cost of living crisis, according to an organisation of turnaround experts.

Sacha Lord demands urgent inquiry as 2,000 small businesses fail to receive appropriate energy discounts

23-Jan-2023 By James McAllister

Sacha Lord, the Night Time Economy Adviser for Greater Manchester, has called for an urgent inquiry into evidence of withheld energy support for struggling hospitality businesses.

Inflation rate for restaurants and hotels hits 31-year high

18-Jan-2023 By James McAllister

The annual inflation rate for restaurants and hotels hit a 31-year high of 11.4% last month, according to new figures from the Office for National Statistics (ONS).

Operators lean on healthier eating trends to manage inflation

17-Jan-2023 By James McAllister

Operators are capitalising on healthier eating and sustainability food trends to manage costs and inflationary pressures, according to new data from Lumina Intelligence.

Hospitality faces '£4.5bn bill hike' as Government slashes energy support

10-Jan-2023 By James McAllister

The hospitality sector 'faces a £4.5bn hike in its bills' from April after the Government confirmed it would slash the level of energy support businesses receive.

'Welcome surprise' as UK’s top restaurant groups return to profitability after four years of losses

09-Jan-2023 By James McAllister

The UK's top restaurant businesses have finally returned to profit after four consecutive years of losses, new research by UHY Hacker Young shows.

Energy support for businesses could be halved

03-Jan-2023 By Restaurant

The financial support on energy bills for businesses could be halved this year under new Government plans to cut costs to the Treasury.

Amount restaurant owners are forced to lend own businesses increases

05-Dec-2022 By Restaurant

The amount that restaurant business owners have been forced to lend to their own businesses has risen to over £424m, according to audit, tax and advisory firm Mazars.

ETM Group secures £11m of funding

01-Dec-2022 By Restaurant

Pub, bar and restaurant operator ETM Group has received more than £11m in funding from alternative lender ThinCats to help it grow.

Hospitality sector faces £900m business rates increase

14-Nov-2022 By Restaurant

Hospitality businesses are facing a £900m increase in business rates next April, if current relief ends and rates increase in line with inflation, UKHospitality has warned.

Hospitality calls for 'stable political leadership' as Sunak becomes Prime Minister

25-Oct-2022 By James McAllister

UKHospitality chief executive Kate Nicholls has called for political stability to steady the economy following the announcement that Rishi Sunak will be UK's next Prime Minister.

Cost of doing business 'completely out of control' for pubs as alcohol duty freeze reversed

18-Oct-2022 By James McAllister

Trade bodies have warned the Government's decision to scrap the planned freeze on alcohol duty has 'critically compromised' thousands of businesses and workers across the hospitality sector.

Restaurant spend continues to fall as consumers cut down on discretionary purchases

11-Oct-2022 By James McAllister

Restaurant spend fell by 12.2% in September, according to the latest figures from Barclaycard, with further pain expected as consumers cut back on discretionary purchases amid rising living costs.

50 pubs closing every month as numbers hit record low

10-Oct-2022 By Restaurant

The number of pubs closing across England and Wales has hit a rate of 50 a month, new figures show.

Hospitality 'left out in the cold' as Chancellor announces sweeping tax cuts

23-Sep-2022 By James McAllister

Industry leaders have warned that today's mini-budget, which promises sweeping tax cuts but fails to offer firms any immediate financial support, will mean 'last orders' for thousands of hospitality businesses.

Hospitality demands 'urgent clarity' on energy support as businesses face 'financial cliff edge'

20-Sep-2022 By James McAllister

Hospitality trade bodies have written a joint letter to the Chancellor ahead this week's planned fiscal statement warning a lack of clarity on energy support could be fatal for businesses.

Hospitality insolvencies rise as energy bills rocket

16-Sep-2022 By James McAllister

Insolvencies of pubs, bars and restaurants have increased 59% in the past year, according to data from the Insolvency Service, amid rocketing energy prices.

Government to set out details on business energy support at mini-budget next Friday

16-Sep-2022 By James McAllister

The Government is set to deliver a mini-budget on Friday 23 September, which will include details of Prime Minister Liz Truss's plan to support businesses struggling with soaring energy costs.

Liberation Group boosted by 'encouraging recovery' in Channel Islands

13-Sep-2022 By Restaurant

South-west based pub and brewer Liberation Group has reported strong summer of trading across the UK and the Channel Islands within its pubs, brewing and drinks businesses, including its highest ever single week of revenue during August.

The Lowdown: Liz Truss

09-Sep-2022 By Joe Lutrario

What might the appointment of the new Prime Minister mean for the beleaguered hospitality sector?

Hospitality sector calls for clarity on six-month support plan

08-Sep-2022 By Restaurant

Hospitality businesses need clarity on the Government’s six-month energy support plan for businesses or face an uncertain future, trade bodies have warned.

Itsu to increase staff pay by 13% to help with cost of living woes

07-Sep-2022 By Restaurant

Itsu is implementing its second pay rise for staff in the space of 12 months, as it commits to supporting its people with the cost living crisis.

Night time economy's future 'finely balanced' as operators demand support package

05-Sep-2022 By James McAllister

More than 6,000 night time economy and hospitality businesses have written to their MPs demanding an emergency financial package to support them through the current cost of living crisis.

BrewDog's James Watt condemns 'clueless Government' as bar group permanently closes six sites

31-Aug-2022 By James McAllister

BrewDog co-founder James Watt has announced that six of the group's UK bars are to close permanently in the face of soaring energy and cost price increases.

Six steps to opening your first bricks and mortar site

26-Aug-2022 By Hussein Ahmad

Opening your own bricks and mortar restaurant, bar or venue is a goal for many in hospitality, but it can seem daunting and overwhelming to the first-timer.

Arcade bar group NQ64 secures £2.5m to grow

22-Aug-2022 By Restaurant

Fast growing arcade bar operator NQ64 has received £2.5m in growth capital to help it expand across the UK.

Individual Restaurants reports loss in 2021

22-Aug-2022 By Shwetali Sapte

Individual Restaurants (IRC) Limited company has reported a loss after tax of £8.2m for the financial year ending 27 March 2022, down from £23m the previous year.

Bob Bob Ricard secures funds to expand

19-Aug-2022 By Restaurant

Bob Bob Ricard has secured funds from lender ThinCats to help it expand its presence in the UK as well as abroad.

Nightcap secures £10m debt facility

17-Aug-2022 By Restaurant

The Cocktail Club owner Nightcap has agreed a £10m debt refinancing facility that will be used partly to continue its expansion.

Hospitality spend sees 1.5% decline in July

10-Aug-2022 By Joe Lutrario

Consumer card spending on hospitality saw a month-on-month decline of 1.5% in July, according to the latest figures from Barclaycard.

Just Eat launches £1m support fund to help small businesses facing inflationary pressures

14-Jul-2022 By James McAllister

Just Eat has announced the launch of a £1m financial support package for its small, independent restaurant partners, designed to help businesses as they navigate rising inflation.

Restaurant spending falls but takeaways fare better

12-Jul-2022 By Restaurant

Spending in restaurants was down 3.3% in June compared to the same period in 2021, but the category saw a small month-on-month uplift of 0.8%, according to new data from Barclaycard.

BrewDog eyes blockchain

29-Jun-2022 By Restaurant

BrewDog is working with digital finance platform Globecap on options for investors to 'tokenise' their equity in the craft beer business.

Trading in city centres bounces back

27-Jun-2022 By Shwetali Sapte

Out-of-home food and drink sales grew in all 10 of the country’s biggest city centres over the four weeks to 4 June, new research from CGA and Wireless Social reveals.

Star Pubs & Bars announces energy deal to aid licensees

23-Jun-2022 By Shwetali Sapte

Star Pubs & Bars has announced a new energy supply deal with British Gas to help licensees mitigate the energy crisis.

UKHospitality: Government needs to help sector attract investment

08-Jun-2022 By Shwetali Sapte

A lack of a coherent Government strategy to tackle the cost of living crisis is negatively impacting investment in the sector, UKHospitality CEO Kate Nicholls has said.

CGA acquired by NielsenIQ

07-Jun-2022 By The Morning Advertiser

Global information services firm NielsenIQ has announced the acquisition of insight company CGA.

Sector pleads with Chancellor to 'act now' and alleviate financial pressures

26-May-2022 By James McAllister

Chancellor Rishi Sunak has been accused of being 'out of touch with the reality of cost inflation' after failing to offer additional financial support for businesses in today's Commons statement.

Bank of England governor warns of 'apocalyptic' food price risis

17-May-2022 By Restaurant

Britain faces 'apocalyptic' rises in food prices as households are hit by a 'very real income shock', the governor of the Bank of England has warned.

Modest sales growth for managed groups undermined by rising cost pressures

17-May-2022 By James McAllister

Britain’s leading managed restaurant, pub and bar groups recorded like-for-like sales growth of 2% in April 2022, the latest Coffer CGA Business Tracker reveals.

Queen's Speech 'a missed opportunity' for night time economy

11-May-2022 By James McAllister

The Night Time Industries Association (NTIA) has said yesterday's (10 May) Queen’s Speech was a 'missed opportunity' as far as the night time economy is concerned.

Restaurant insolvencies soar as Covid support is withdrawn

05-May-2022 By Restaurant

The number of restaurant businesses going out of business soared by 41% in the past 12 months, new data shows.

£330m in Omicron grants 'unspent by councils'

04-Apr-2022 By James McAllister

More than half of the grant money promised to hospitality and leisure businesses in England in the wake of the Omicron variant has yet to be distributed by councils.

Disappointment for hospitality as Sunak fails to offer fresh support for businesses in Spring Statement

23-Mar-2022 By James McAllister

Hospitality businesses have been left disappointed after Chancellor Rishi Sunak failed to offer fresh financial support in his Spring Statement to help firms weather rising cost inflation pressures.

Restaurant insolvencies jump by a fifth to highest levels since pandemic

14-Mar-2022 By Restaurant

Restaurant insolvencies jumped by a fifth in the last quarter of 2021 to reach highest levels since the Coronavirus pandemic began.

Shelley Sandzer and Gerald Edelman launch corporate finance business

16-Jul-2020 By Restaurant

Leisure property agency Shelley Sandzer and advisory firm Gerald Edelman are launching a new business venture called Shelley Sandzer Corporate Finance (SSCF).

United We Stand

What the Government's financial package means for the hospitality sector

26-Mar-2020 By James McAllister

The Government has introduced a £350bn financial package to help businesses navigate the Coronavirus crisis. But how does it work, and what does it mean for the hospitality sector?

United We Stand

Does the Government's Business Interruption Loan Scheme provide a lifeline to hospitality businesses?

26-Mar-2020 By James McAllister

The Government’s financial package made for a nice headline, but the reality is that much more support is needed if the hospitality sector is to survive the Coronavirus crisis.