Finance - Hospitality

Drinks sales 4% ahead of 2019

16-Aug-2022 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.

Energy crisis: ‘Situation dire’ for pubs

16-Aug-2022 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.

July saw flat sales for managed venues

16-Aug-2022 By Nikkie Thatcher

Like-for-like (LFL) sales at managed pubs dropping by 0.6% in July 2022 compared to pre-pandemic levels.

Punch reopens Essex pub after £300k investment

15-Aug-2022 By Gary Lloyd

Punch Pubs has reopened the Ship after a £300,000 renovation and handed the keys to management partner Jasmine Marshall.

1 in 7 licensed venues lost in capital centre

15-Aug-2022 By Nikkie Thatcher

Licensed premises in the City of London have seen a net decline of 14% since the start of the pandemic in March 2020, new research has found.

Pubs waiting on tax rebates worth £750m

15-Aug-2022 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.

What should the new PM make a priority?

15-Aug-2022 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.

Trade bodies demand Gov act on energy costs

15-Aug-2022 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”.

Under 2 months left of paper £20 notes

15-Aug-2022 By Nikkie Thatcher

There are just 46 days left of the paper £20 and £50 notes being axed with the 30 September deadline looming.

UK sees 200 breweries open in the past year

15-Aug-2022 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.

Largest investment ever at Admiral Taverns site, Punch revamps site

12-Aug-2022 By Gary Lloyd

Admiral Taverns pub the Coach & Horses has reopened after receiving the largest investment one of the pubco’s sites has ever received of £700,000.

BrewDog pays out over £300k in Blueprint bonus

12-Aug-2022 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.

Amber Taverns acquires three new sites

12-Aug-2022 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.

Cash makes up less than 25% of on-trade payments

11-Aug-2022 By Rebecca Weller

Cash payments account for less than 25% of transactions in the majority of pubs despite a recent boom in consumer use of physical money.

Gov must bring insurance costs to 'affordable' level

11-Aug-2022 By Rebecca Weller

The Night-Time Industries Association (NTIA) has partnered with NDML insurance brokers to urge the Government to address escalating insurance premium costs within the sector.

Sunak vows to slash business rates

11-Aug-2022 By Gary Lloyd

PM candidate Rishi Sunak has vowed to slash business rates if he is elected as the next Conservative party leader.

'Petrifying' energy costs put sector on 'knife edge'

11-Aug-2022 By Rebecca Weller

Energy prices have left operators on a “knife edge” as rocketing bills “absolutely petrifying” for businesses, according to one London-based operator.

‘Rocketing energy bills killing pubs’

11-Aug-2022 By Nikkie Thatcher

Rapidly escalating energy bills are topping the list of headwinds facing pubs with operators seeing costs quadruple.

Pub property market to ‘ramp up’ this year

10-Aug-2022 By Gary Lloyd

The pub property market is set to “ramp up” during the second half of 2022 with sales of sites expected to come from Stonegate, Marston’s and Amber Taverns, according to a new report from Christie & Co.

Punch reopens Spread Eagle after £270k investment

10-Aug-2022 By Gary Lloyd

Punch Pubs has ploughed £270,000 into refurbishing and reopening the Spread Eagle pub in Brentwood and installed Drew Cook as a management partner at the helm.

Pubs adapting dishes as oil prices rise further

10-Aug-2022 By Rebecca Weller

Chefs have continued to adapt dishes and implement cost saving measures amid rising olive oil costs.

Opinion

Are we the elephant in the ‘partnership’?

10-Aug-2022 By Gav Young, the Plough and Barleycorn, Isle of Wight

It is probably because I am not an accountant or a multinational brewery that I have some issues with the recent mid-year price rise announcement from one of the big brewers.

Bath Pub Company lfl revenue up 34% v 2019

10-Aug-2022 By Gary Lloyd

Bath-based pub operator The Bath Pub Company has reported a 34% increase in like-for-like (lfl) revenue in the first half of 2022 versus the same period in pre-pandemic trading in 2019.

Fuel costs decrease but sector suffers 'uncertainty'

09-Aug-2022 By Rebecca Weller

Fuel prices have begun to slowly decrease, potentially lessening the strain on supply chains, but businesses are still suffering “uncertainty” as consumers continue to grapple with the cost-of-living squeeze.

Councils still not issuing Covid payments

09-Aug-2022 By Rebecca Weller

More than two fifths of councils have not begun making payments to businesses from the Covid Additional Relief Fund (CARF) support package, meaning thousands of businesses could miss out on £700m, research from property consultancy Gerald Eve has revealed.

Lord: crisis is more damaging than covid

09-Aug-2022 By Gary Lloyd

Night Time Economy Adviser for Greater Manchester Sacha Lord has demanded the Government return to parliament to intervene in the economic issues that are “more damaging than Covid”.

Lion sells craft brewers Magic Rock and Fourpure

09-Aug-2022 By Gary Lloyd

Australian-based drinks heavyweight Lion has sold its UK craft beer brands Magic Rock and Fourpure to Odyssey Inns.

Consumers looking to cut spending at pubs

09-Aug-2022 By Nikkie Thatcher

British consumers are looking to spend less on social occasions at pubs, bars and restaurants as the cost-of-living crisis continues to bite, research has found.

Vote now: how much of your trade comes from cash?

08-Aug-2022 By Rebecca Weller

Consumer use of cash has increased in a bid to manage household and holiday budgets, Post Office research has revealed.

Huge increase in hospitality businesses in ‘distress’

08-Aug-2022 By Georgi Gyton, MCA

There are 70% more bars and restaurants in “critical financial distress” than at this point last year, according to insolvency and restructuring advisor Begbies Traynor.

Women's Euro's boosts drink sales

08-Aug-2022 By Rebecca Weller

Average drinks sales by value in Britain’s managed pubs, bars, and restaurants in the seven days to Saturday 30 July were 0.6% ahead of the same week in 2019, the latest CGA by NielsenIQ Drinks Recovery Tracker has revealed.

William Reed acquires The London Coffee Festival

05-Aug-2022 By The Morning Advertiser

The Morning Advertiser publisher William Reed has further deepened its relationship with the Allegra Group by acquiring The London Coffee Festival.

RedCat acquires ‘most famous British inn’

05-Aug-2022 By Nikkie Thatcher

RedCat Pub Company, the investment vehicle founded by former Greene King boss Rooney Anand, has acquired a trio of pubs in the south west of England.

Action needed as hospitality leaders’ confidence plummets

05-Aug-2022 By Amelie Maurice-Jones

The confidence of pub, bar and restaurant leaders has tumbled over the second quarter of 2022 after costs soared for both businesses and consumers, according to CGA and Fourth’s second-quarter Business Confidence Survey.

Recession and soaring inflation 'final straw' for sector

05-Aug-2022 By Rebecca Weller

Looming recession and soaring inflation could be “final straw” for small businesses and the Government must “act decisively and swiftly”, according to trade bodies across the sector.

BrewDog: cash crisis could ruin more firms than Covid

04-Aug-2022 By Gary Lloyd

The cash crisis “has the potential to destroy more businesses than the pandemic”, according to BrewDog co-founder James Watt.

Nightcap announces 23.6% revenue increase

04-Aug-2022 By Gary Lloyd

Nightcap, the owner of The Cocktail Club, the Adventure Bar Group and the Barrio Familia group of bars, has reported a 23.6% like-for-like revenue increase for the final 13 weeks of its financial year, ended 3 July 2022.

45% of hospitality businesses leave equipment on overnight

03-Aug-2022 By Amelie Maurice-Jones

Almost half (45%) of hospitality businesses leave equipment on overnight, despite the majority (65%) not knowing how much energy the equipment uses, according to research from BRITA UK.