26/04/2023 10:12:00
Like-for-like sales at Britain's leading managed restaurant, pub and bar groups in March were 1.4% ahead of last year's levels, the new Coffer CGA Business Tracker shows. The tracker, which is produced by CGA by NIQ in partnership with the Coffer Group and RSM UK, has been in year-on-year growth for six successive months. However, March's rate was the slowest of the first three months of 2023 and substantially below the rate of inflation. Pressure on consumer spending, mixed weather and rail strikes all contributed to the challenges facing operators over the month. The Caterer reports that pubs achieved like-for-like sales growth of 2.4% in March, while restaurants were 2.5% ahead of March 2022. The bars segment had a third consecutive month of negative figures, with sales down 13.2%.
Popular with Bredbury Blues Manchester City supporters, The Crown has been acquired by Red Oak Taverns during an off market sale brokered by leisure property specialists Fleurets. The Crown, which sits prominently in the residential area of Stockport Road in Bredbury, had been owned by the previous owners for over 10 years before they decided it was time to sell. Previous vendor, Jane Poulton added, "We contacted Lesley at Fleurets in confidence, in relation to the sale of our public house. We really had no idea how to go about selling the property and Lesley could not have been more helpful and professional. She worked extremely hard and managed to secure a sale, providing contacts including an excellent solicitor. We really could not have done it without her."
Pubs are set for a "much-needed" coronation boost after facing a challenging start to 2023 amid soaring energy bills, according to the boss of Greene King. The pub giant, which runs 1,600 managed sites across the UK, has said the coronation bank holiday "provides a great opportunity" for pubs to show why they are at the heart of British communities, reports the Evening Standard. Nick Mackenzie, chief executive of the Suffolk-based business, said it comes amid a "challenging backdrop" for the industry, with consumer finances also coming under pressure. It came as research for a new report from Greene King showed that more than a quarter of people (27%) aged 18-34 expect to go to the pub during the coronation weekend. The group expects to pour around 1.8 million pints across its pub estate over the bumper weekend.
A Midlands-based independent pub company has revealed ambitious plans for expansion following new investment. Derbyshire-headquartered the Pub People Company is aiming to acquire up to 60 freehold venues across the East Midlands, Lincolnshire and Yorkshire. The move is being financed by investment manager Downing, which has committed to the group's expansion after acquiring the business last year, advises The Caterer.
Food market operator Mercato Metropolitano is launching a new initiative that will see one lucky entrepreneur offered a three-month, rent-free tenure at one of the group's London outposts, reports Restaurant.