01/11/2022
As the Government announced a two-week delay to its fiscal statement, the hospitality sector expressed varied reactions. Chancellor Jeremy Hunt announced on Wednesday 26th October that the statement detailing a plan for UK tax and spending, originally due Monday 31st October, had been delayed until Monday 17 November, leaving businesses "on the edge" once again accord to NTIA CEO Michael Kill, reports Morning Advertiser.
The Cocktail Club, formerly known as London Cocktail Club, has launched its 17th site in London's Canary Wharf, making it the 11th London venue for the Nightcap PLC-owned business. Following a rapid period of growth after being acquired by Nightcap at the beginning of 2021, Pub & Bar reports that The Cocktail Club is continuing to work on regional expansion.
Nearly 150,000 members of the public have signed a petition calling on the government to take action to save the struggling pub sector. The Caterer reports that The Long Live the Local campaign is backed by the British Beer and Pub Association (BBPA) and currently has the support of 146,000 people. The UK's beer and pub industry provides nearly 940,000 jobs and contributes £26.2b to the economy each year, but it has been hit hard by inflation and government U-turns. Earlier this month figures from Altus Group revealed around 12 pubs are closing each week due to soaring costs.
Hydes Brewery has reopened The Golden Lion in Rossett, Wrexham, following an extensive £100,000 refurbishment. Pub & Bar report that the pub has been a part of the Hydes estate since 2016. The latest refurbishment forms part of an ongoing multi-million investment programme in the Hydes estate over the next two years. Salford-based Hydes was formed in 1863 and operates over 40 pubs across the north west of England and north Wales.
More than a third of the UK's hospitality sector is at risk of business failure in early 2023 due to what is being branded the 'cost of doing business crisis'. That's according to analysis of a new survey by UKHospitality, the British Beer and Pub Association (BBPA), the British Institute of Innkeeping (BII) and Hospitality Ulster. Big Hospitality reports that the organisations' joint Q4 Hospitality Members' Survey showed that 35% of respondents were expecting to be operating at a loss or be unviable by the end of the year, with 96% experiencing higher energy costs and 93% facing food price inflation.
Due to the extraordinarily high energy prices hospitality businesses are facing this winter, UKHospitality is taking the unprecedented step of making its energy guidance publicly available, reports CLH News. The guidance, which was previously a member exclusive, covers the Energy Bill Relief Scheme, which UKHospitality was instrumental in delivering through its engagement with government and demonstration of how hard hospitality would be hit by rising energy prices.
Steakhouse group Gaucho will open its latest restaurant, in Liverpool, next month. Big Hospitality reports that the restaurant will occupy the former Grade II Listed Bank of Liverpool following a 'seven-figure' investment at the venue.