Finance

Irreparable damage: sector suffering heavily as more rail strikes announced for next month (Credit: Getty/coldsnowstorm)

More rail strikes as sector 'suffering heavily'

By Rebecca Weller

Announcement of further rail strikes to take place next month “catastrophic” for the hospitality and late-night economy which are already reporting losses and “at risk of failing”.

Skyrocketing prices: Energy bills at Kendal inn set to soar (Getty/ image source)

Historic inn’s energy bill set to soar by £80k

By Amelie Maurice-Jones

A South Lakeland inn, whose annual energy bill is set to rise by £80,000, is bracing for “long-term problems” at the operator says he will do all he can to protect staff’s jobs.

Energy crisis: current climate could bring more businesses to the point of failure than the pandemic the NTIA has stated (Credit: Getty/Maki Nakamura)

Night-time economy at risk of 'collapsing'

By Rebecca Weller

The UK’s night-time economy is at risk of collapsing in the coming months amid soaring energy costs, the Night-Time Industries Association (NTIA) has stated.

Only going to get worse: leaders from across the sector urge Gov to support industry before it's too late as energy costs continue to soar (Credit: Getty/sturti)

Sector left to face energy crisis 'alone'

By Rebecca Weller

Leaders from across the sector have signed an open letter to the Government warning SMEs will close and jobs lost if immediate action isn’t taken on "unsustainable" energy bills for businesses.

Little respite: drinks sales in the on-trade return to below pre-pandemic levels (Credit: Getty/Peter Cade)

Drinks sales 1% down vs 2019

By Rebecca Weller

Drinks sales in Britain’s managed pubs, bars, and restaurants were 1% down in the seven days to Saturday 20 August compared with the same week in 2019, the latest CGA Drinks Recovery Tracker has revealed.

Too much to bear: SLTA managing director Colin Wilkinson (pictured) has called for urgent help from Gov to help sector through winter

Energy costs bring sector to 'tipping point'

By Rebecca Weller

The Scottish Licensed Trade Association (SLTA) has called for an energy cap for businesses and urgent help from the Government to support the sector through the winter as energy costs continue to soar.

Signal of more pain to come: energy regulator OFGEM confirms 80% increase to household energy price cap (Credit: Getty/J J D)

'Lights off' warning amid 'devastating' energy hike

By Rebecca Weller

An energy price cap hike has been described as “devastating” for the sector with many businesses at risk of facing “lights off” as consumers look to spend less in the on-trade.

Winter of discontent: The Morning Advertiser editor Ed Bedington fears the industry will not last without help

Opinion

I think we’re alone now...

By Ed Bedington

What will it take for this Government to wake up and face the reality of the energy crisis for business?

Talks fail: the licensees of a Hampshire pub have been forced to quit over surging costs (credit: Getty/mauro_grigollo)

Soaring costs force licensees to quit pub

By Gary Lloyd

The operators of Hampshire pub the White Horse Inn have said an emotional farewell after failing to negotiate terms with pubco Admiral Taverns to keep the pub open.

Desperate times: Operators share how they are saving energy as electricity bills skyrocket (Getty/ Klaus Vedfelt)

How can pubs save energy?

By Amelie Maurice-Jones

Training staff, switching off equipment and turning down fridge temperatures are just a few ways operators are slashing energy use as electricity bills soar.

Business growth: Rekom UK chief executive Peter Marks previously said the company was moving forward with its strategy of cluster openings

Rekom to open UK’s first Proud Mary pub

By Shwetali Sapte, MCA

Rekom will open as the UK’s first Proud Mary pub at the end of October after having acquired the former Yard Bar on Cardiff’s St Mary’s Street.

Communicating difficulties: Metro Bank advises SMEs to tell customers why price increases have been implemented (Credit: Getty/ skynesher)

Honesty crucial amid cost-of-living crisis

By Rebecca Weller

Transparency is key for SMEs in navigating price increases as the cost-of-living crisis continues for both businesses and consumers, Metro Bank has stated.

Drinks Recovery Tracker: sales in the on premise were 9% ahead of 2019 levels in the seven days to Saturday 13 August (Credit: Getty/ViewApart)

Drinks sales 9% ahead of 2019

By Rebecca Weller

Drinks sales in Britain’s managed pubs, bars, and restaurants in the seven days to Saturday 13 August were 9% ahead of the same week in 2019, the latest CGA by NielsenIQ’s Drinks Recovery Tracker has revealed.

Cashflow concerns: 98% of operators worried about their cashflow (Credit: Getty/Igor Vershinsky)

Most operators reporting cashflow worries

By Rebecca Weller

More than half (58%) of operators expect overall costs to further increase this year with 98% having reported cashflow concerns, a new survey by international business payments firm, Equals Money, has revealed.

Looking ahead: CGA director for hospitality operators and food EMEA Karl Chessell predicted further churn of opening and closures over the second half of the year (image: Getty/shank_ali)

Almost 1,000 closures in second quarter of 2022

By Nikkie Thatcher

While there were nearly 1,000 closures of licensed premises over the second quarter of this year, almost the same number opened as other businesses took their place.

Looming recession: pubs between rock and hard place as inflations exceeds 10% while consumer spending plummets (Credit: Getty/Charday Penn)

No sign of 'let up' as inflation exceeds 10%

By Rebecca Weller

Pubs are stuck between a “rock and a hard place” as inflation and energy costs has continued to soar while consumer spend and confidence plummets, according to trade bodies across the sector.

Rising costs: business leaders are also planning to increase menu prices by a further 6% over the next 12 months, according to the CGA and Fourth survey (image: Getty/NatashaPhoto)

Firms push up menu prices by 9%

By Nikkie Thatcher

Business leaders have increased prices by 9% on average over the past 12 months with plans to hike them by a further 6% in the next year, research has found.

North-east bound: The Botanist menu includes hanging kebabs, recycled banana and ginger cocktails and vegan choices

North-east opening for The Botanist

By Gary Lloyd

Multiple operator New World Trading Company (NWTC) is set to launch a new site for its brand The Botanist in Sunderland.

Welcome relief: CGA Drinks Recovery Tracker shows average sales were 4% ahead of 2019 in seven days to Saturday 6 August (Credit: Getty/Alina Rosanova)

Drinks sales 4% ahead of 2019

By Rebecca Weller

Average sales by value in Britain’s managed pubs, restaurants, and bars in the seven days to Saturday 6 August were 4% ahead of the same week in 2019, the latest CGA by NielsenIQ’s Drinks Recovery Tracker has revealed.

Spiralling prices: Rising energy costs are crippling pubs across the country, says BBPA boss Emma McClarkin

Energy crisis: ‘Situation dire’ for pubs

By Nikkie Thatcher

Trade body the British Beer & Pub Association (BBPA) has written to the two Conservative party candidates, urging them to meet with business leaders to help save pubs and other hospitality venues from closure.

Monies owed: calls made for chancellor to intervene on tax rebates (credit: Getty/RistoArnaudov)

Pubs waiting on tax rebates worth £750m

By Gary Lloyd

Pubs and bars in England are among the many UK businesses waiting on £750m in tax rebates amid calls to chancellor Nadhim Zahawi to speed up settlements.

Government decision: the result of the leadership contest is set to be announced in September (image: Getty/RichVintage)

What should the new PM make a priority?

By Nikkie Thatcher

With Liz Truss and Rishi Sunak fighting it out to become the next Conservative Party leader, we want to know what you think should be a priority for the next PM to concentrate on to help to the sector.

Out of control: trade bodies say many sites face permanent closure (credit: Getty/claudiodivizia)

Trade bodies demand Gov act on energy costs

By Gary Lloyd

Hospitality sector heavyweights have demanded urgent action from the Government as soaring energy prices have become an “existential emergency” that have put businesses and jobs at “grave risk”.

Increased demand: surge in independent breweries results in 200 new sites in the UK over past year (image: Getty/ Klaus Vedfelt)

UK sees 200 breweries open in the past year

By Rebecca Weller

Some 200 new breweries have opened in the UK over the past year following an increased demand for craft beer, a recent study from UHY Hacker Young has revealed.

Company initiative: the Blueprint was first unveiled in May this year and outlined the BrewDog's profit share scheme

BrewDog pays out over £300k in Blueprint bonus

By Nikkie Thatcher

Scottish brewer and multi-site operator BrewDog has revealed it has paid the first of its new Blueprint bonus profit share scheme to more than 1,700 bar staff.

Portfolio growth: the Engine Room in Ashton-under-Lyme was acquired from City Pub Group

Amber Taverns acquires three new sites

By Finn Scott-Delany, MCA

Amber Taverns has completed on three new sites, in Ashton-under-Lyne, Peterlee and Shrewsbury, managing director James Baer has told MCA.

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