Finance

Rocket fuel: Andrew Fishwick tells MA Leaders attendees why he started acquisition and investment vehicle Hestia

MA LEADERS

Fishwick: 'We want to add rocket fuel to businesses'

By Rebecca Weller

Andrew Fishwick wants to add “rocket fuel” to firms and champion the sector amid falling confidence from shareholders with new acquisition and investment vehicle, Hestia PLC.

Cautiously optimistic: OakNorth predicts boost to trade from June onwards in inaugural report (Credit: Getty/jpa1999)

OakNorth shares 'cautious optimism' for pubs

By Rebecca Weller

Firms should be “cautiously optimistic” with a summer of sport set to boost trade after a challenging six months, according to the inaugural Hospitality Tracker Report from OakNorth bank.

Disappointing: Drinks sales down for fifth consecutive week but brighter trading ahead (Credit:Getty/izusek)

Drinks sales down for fifth week in a row

By Rebecca Weller

Drinks sales across the on-premise have fallen for the fifth week in a row, but more “favourable” trading conditions are on the horizon.

 Boxing clever: a good relationship between pubs and suppliers is more important than ever (credit: Getty/andresr)

FEATURE – Supplier relations

FEATURE: Get a love-love relationship with your suppliers

By Nigel Huddleston

Perhaps it’s the result of successive economic shocks – most recently fuelled by the catalytic impact of the pandemic – but there seems to have been a fundamental shift in the relationships between pub operators and suppliers over the past decade or so.

Economic ambitions: Voices from across the sector share their thoughts as the UK exits recession (Credit:Getty/Richard Drury)

Trade reacts as UK exits recession

By Rebecca Weller

Industry leaders have shared hope stronger than expected economic growth will boost consumer confidence, though some warned the sector is still facing “challenges”.

Business report: JDW reveals like-for-like sales rise in the 13 weeks to 28 April 2024 (image: Getty: Poike)

JDW disposed of 18 sites in year-to-date

By Nikkie Thatcher

Pub giant JD Wetherspoon (JDW) opened two pubs and sold or surrendered to the landlord 18 sites in the year-to-date, it revealed in a trading update.

Tentative optimism: hospitality closures slow (Credit: Getty/ Richard Drury)

Closures down by half in Q1 2024 vs 2023

By Rebecca Weller

Closures across the hospitality sector slowed from eight sites a day in 2023 to four a day in the first quarter of 2024, figures from CGA by NIQ and AlixPartners has revealed.

Mixed bag: More than £50m pints pulled across bank holiday weekend but trade down vs 2023 levels (Credit: Getty/SolStock)

Pubs report mixed results for bank holiday

By Rebecca Weller

More than 50m pints were estimated to have been pulled across the May Day bank holiday (3 – 6 May), though sales were down against 2023 as pubs report mixed trading results.

Mark the occasion: Pubs hope for sales boost over bank holiday weekend (Credit: Getty/andresr)

Hopes for bank holiday sales boost

By Rebecca Weller

Consumers set to mark bank holiday occasion in the pub as operators remain hopeful for a repeat of last year's uplift in sales.

Unstable climates: NTIA shares concern as nightclub closures rise (Credit:Getty/allanswart)

NTIA shares 'concern' as nightclub closures rise

By Rebecca Weller

More than 190 night-time economy (NTE) firms went into administration between April 2023 and March 2024, data from the Night-Time Industries Association (NTIA) has revealed.

Back of the net: score big with the Euro 2024 tournament (credit: Getty/Aksonov)

FEATURE - Euro 2024

FEATURE: Know the score with the Euros

By Matt Eley

Once the final whistle is blown on the domestic football season, the attention of fans will quickly veer to Euro 2024.

Official stats: data from SIBA shows there were 38 fewer breweries in the first three months of the year compared to the previous quarter

38 fewer breweries so far in 2024

By Nikkie Thatcher

The UK brewing industry has seen a net closure rate of 38 in the first quarter of 2024, new figures have shown.

Deal done: Mondo founder and MD Todd Matteson and Hogs Back Brewery owner Rupert Thompson

City brewery and brand secures future

By Nikkie Thatcher

Brewing industry veteran Rupert Thompson has agreed an investment deal with London-based craft brewer Mondo, securing the future of the latter’s brands, brewery and taproom.

Energy update: Nationwide Energy lays out what's happening with the utility market (image: Getty/FroYo_92)

UTILITY UPDATE WITH NATIONWIDE ENERGY

Utility sector update

By Nationwide Energy

In the last week, commodity costs peaked on Tuesday and have since fallen back. Israel's striking Iran on Thursday night, maintains the risk of a widening Middle East conflict.

Flagship site: the Reading town centre taproom and restaurant will be part of the Station Hill development

Siren hits £250,000 fundraising target

By Gary Lloyd

Berkshire-based Siren Craft Brewery has hit its £250,000 crowdfunding target with the aim of using donations to build a flagship bar in Reading.

New sites: Loungers has a ‘fantastic pipeline’ (Muro Lounge in the north-east pictured)

Loungers opens eight sites since end of January

By Gary Lloyd

The rapid rollout of Loungers new site openings has reached one every 10 days since the end of January this year – bringing the total number in its portfolio to 257.

Economic hardship: Operating costs still suffocating the sector despite ease to inflation (Credit:Getty/fcafotodigital)

Sector 'suffocating' despite economy easing

By Rebecca Weller

Operating costs continue to “suffocate” hospitality firms despite a drop in food prices having helped drive the headline rate of inflation down to its lowest level in two and a half years.

Business plan: the strategy aims to return the company to profitability

Revolution Bars sets out restructuring plan

By Hannah Currie, MCA

Revolution Bars Group has revealed more details of its restructuring plan and future strategy, which it says comes in response to a series of external challenges affecting the business.