Finance

Significant pressure: BBPA calls for change ahead of Spring Budget amid static inflation rates (Credit: Getty/Zedelle)

Stagnant inflation shows need for 'vital' changes

By Rebecca Weller

Unchanging inflation rates show the Government must make “vital” changes in next month's Spring Budget to “alleviate significant pressure”, the British Beer & Pub Association (BBPA) has warned.

Future plans: The brewer is working with Alvarez & Marsal to store up its finances

Adnams instructs advisers

By Amelie Maurice-Jones

Historic Suffolk brewery Adnams has called in advisers to explore a range of options to fund its future growth plans.

Difficult trading conditions: drinks sales down for fourth consecutive week (Credit: Getty/miodrag ignjatovic)

Drinks sales down for fourth consecutive week

By Rebecca Weller

Drinks sales in Britain’s managed pubs and bars have dropped year-on-year for a fourth successive week, with train strikes adding to the challenges facing operators.

Single focus: Tim Bird wants a VAT reduction on food and soft drinks

OPINION

Are we asking the Government for too much?

By Tim Bird, owner of Cheshire Cat Pubs & Inns

The new year is now well under way in the hospitality business and with it I always feel an air of optimism.

Pubs need help: hospitality leaders have written to the Government (credit: Getty/miodrag ignjatovic)

BBPA members demand help ahead of Budget

By Gary Lloyd

Leaders of more than 80 of the UK’s pub companies and breweries – who are members of the British Beer & Pub Association (BBPA) – have written to the Chancellor to demand action at next month’s Budget on VAT, business rates and beer duty.

What's in the news 9 February

REVIEW OF THE WEEK

‘VAT cut would allow us to pay staff more’

By Gary Lloyd

The Morning Advertiser’s associate features editor Gary Lloyd caught up with Banwell House Pub Company managing director Toby Brett to get his take on the week's news, what he wants from the Spring Budget and gives a prediction for England v Wales...

Squeezed margins: importance of pubs getting lost in sea of rising costs (Clive Price pictured far right with one of the pubco's teams)

'Crucial role of pubs getting lost'

By Rebecca Weller

The “crucial role” pubs play in communities is getting lost in a sea of squeezed margins and undervaluation, Barons Pub Company managing director Clive Price told The Morning Advertiser.

No money for margin or investment: Kate Nicholls says Government demands are leaving the sector in dire straits

Kate Nicholls: Cost of doing business is too high

By Gary Lloyd

With the Spring Budget approaching, UKHospitality (UKH) chief executive Kate Nicholls has told the Government “the cost of doing business is just too high” and steps must be taken.

Brew news: the north has been most affected by independent brewery closures throughout 2023

SIBA: number of breweries down versus 2023

By Gary Lloyd

The number of active breweries in the UK at the start of the year has reduced from 2023 levels, according to new data released by the Society of Independent Brewers (SIBA).

Turbulent economic period: venues rise prices by 7.1% to combat inflationary pressures and staff shortages (Credit: Getty/NickyLloyd)

Venues rise prices by 7.1% to offset soaring costs

By Rebecca Weller

Hospitality venues increased prices by an average of 7.1% in the year to December 2023 after being left with “little choice” in the face of rising costs and staff shortages.

Rekom shuts 17 nightclubs

Rekom shuts 17 sites

By Amelie Maurice-Jones

Rekom UK has closed 17 sites across its estate following the completion of a pre-pack administration.

Huge funding: the £3.8million raised is the equivalent of £434 every hour in 2023 and could fund up to 82,353 Macmillan nursing hours

GK celebrates £3.8m raised for Macmillan Cancer Support

By Gary Lloyd

Suffolk-based brewer and pub operator Greene King is celebrating another record-breaking fundraising year for Macmillan Cancer Support after its pubs, breweries and support centres raised an amazing £3.8m in 2023.

Company history: Urban Pubs & Bars was founded in 2014

Urban Pubs & Bars ‘poised for expansion’

By Nikkie Thatcher

London-based multiple operator Urban Pubs & Bars has reported an upswing in sales and turnover in its latest trading update and is eyeing further growth.

Speaking up: Publicans can share their views in the PCA's new survey

PCA launches 2024 Annual Tied Tenant Survey

By Amelie Maurice-Jones

The pubs code adjudicator (PCA) has announced the launch of its Annual Tied Tenants Survey, calling on tied publicans to share their views on the pub company and the PCA.

Cash injection: Admiral Taverns has invested more than £20m into its community pubs in 2023

Admiral pumped over £27m into 300 pubs

By Nikkie Thatcher

Community pub company Admiral Taverns ploughed more than £27m into refurbishments and updates across its Proper Pubs and tenanted and leased estate in England, Scotland and Wales last year.

Company news: there was a significant jump in the number of insolvencies in the hospitality industry in the fourth quarter of 2023, RSM UK's Robyn Duffy says (image: Getty/Fentino)

Hospitality insolvencies up more than a third

By Nikkie Thatcher

The number of firms in the accommodation and food services sector becoming insolvent has increased by 37% on an annual basis, official statistics have found.

Stark figures: almost 23,000 firms lost since December 2022 (Credit: Getty/onfilm)

Almost 23k hospitality firms lost since 2020

By Rebecca Weller

Close to 23,000 licensed businesses across the sector have closed in the last three years, figures from the latest Hospitality Market Monitor have revealed.

Outlook for 2024: Scottish venues experienced a poor new year according to SLTA MD Colin Wilkinson

SLTA ‘deeply concerned’ over state of hospitality in Scotland

By Gary Lloyd

Three out of four Scottish hospitality operators will need government support to survive this year while 96% say the Scottish government is out of touch with business community, according to the SLTA (Scottish Licensed Trade Association).

Impact of inflation: Heineken draught wholesale prices to increase 1.73% (Credit: Getty/Jonathan Knowles)

Heineken to increase draught prices by 1.73%

By Rebecca Weller

Heineken UK is set to introduce a 1.73% price hike for its draught wholesale products from next month, though the global brewer claimed it had made “considerable efforts” to “minimise impact of inflation” for its customers.

Remain alert: new border checks could 'put momentum back into inflation' (Credit: Getty/Photo_Concepts)

New border checks risk fuelling food inflation

By Rebecca Weller

New border checks could cause disruptions to supply chains and push foodservice price inflation, the latest Foodservice Price Index (FPI) from CGA and Prestige Purchasing has warned.

Right thing to do: WSTA calls for duty cut in Spring Budget (Credit: Getty/Carlo Prearo)

WSTA: 'duty cut would offer much-needed boost'

By Rebecca Weller

The Wine and Spirit Trade Association (WSTA) has called on the Chancellor to cut wine and spirit duty to combat both falling sales volumes and reduced revenue to the Exchequer ahead of the Spring Budget in March.

Positive future: sales up 11.5% at Fuller's

Fuller's sales up 11.5%

By Rebecca Weller

Fuller, Smith & Turner has reported like-for-like sales growth of 11.5% in the 42 weeks to Saturday 20 January 2024.

Support an Independent Pub Day: London Pub Explorer urges people to support their local pub in the face of challenging economic headwinds (Pictured: Tuesday Roberts at the Northcote Arms)

EXCLUSIVE

Support an Independent Pub Day launched

By Rebecca Weller

The London Pub Explorer has launched ‘Support an Independent Pub Day’ in a bid to raise awareness of challenges and closures across the hospitality sector.

Property refurbs: this week's round-up features Brotherhood, Shepherd Neame and Inn Collection Group

PROPERTY

Brotherhood bars invests £500k into refurb

By Rebecca Weller

This week's property refurb round-up includes investments from sports bars operator Brotherhood, pub with rooms brand Inn Collection and Shepherd Neame.

Tim Martin: JDW has seen 'consistent but slow' recovery from pandemic

JDW reports 10.1% growth

By Amelie Maurice-Jones

JD Wetherspoon (JDW) has announced financial growth in its trading update for the six months ending 28 January 2024.

Spotlight

(credit: Getty/ViewApart) Experts give comment for the Beer Report 2024 The Morning Advertiser's Lock In podcast episode 78 Making the most of your ghost Competition kicked off: entry for the 2024 Great British Pub Awards is now open Hunt is under way for the Great British Pub of the Year

Property of the week

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£ 60,000 - Leasehold

Busy location on coastal main road Extensively renovated detached public house Five trade areas (100)  Sizeable refurbished 4-5 bedroom accommodation Newly created beer garden (125) Established and popular business...

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