17/01/2023 15:58:00
According to Peter Harden of Harden's Top 100 Best UK Restaurants, there is a growing discomfort among diners towards those restaurants whose prices are perceived to outweigh the value of the experiences they provide. We're really seeing some pricing push-back in the comments being submitted.
McDonald's franchisees:- A&L Restaurants saw revenue almost double. Manor Restaurants turned a first profit in five years as turnover passed pre-pandemic levels. Fun & Fries reported an 88% increase in turnover. A&S Restaurants reported 50% sales increase. MCD reported a 63% increase in turnover and Lonetree saw a 52% increase in sales.
KFC UK & Ireland saw a 27.7% year-on-year sales growth in the year to 26 December 2021, as turnover reached £292,915,000. KFC franchisee Kefco Sales reported a 43% increase in turnover which far exceeded pre-pandemic levels.
The average price of freehold pubs sold in 2022 increased by 54.6% to £711,000 as a result of a similar increase in the quality of pubs being transacted. Closed pubs and pubs sold without accounts, saw a 15% increase to £373,712. Full Report
Tristar Foods has acquired 12 of the 21 sites. The buyer is owned by the co-founder of Calveton which is the parent company of Famously Proper which trades as Byron. The remaining 9 restaurants have been closed. It comes only hours after Claire Winder and Chris Pole, from Interpath Advisory, were appointed joint administrators to Famously Proper. Immediately following their appointment, the joint administrators concluded a sale of the business and certain assets to Tristar Foods.
The Vegan fast-food operator is understood to be reviewing its options, which could include a sale of the four-strong business. The company is understood to be working with FRP Advisory on its funding options going forward.
In the year to 14 August 2022 it continued to rebound from the impact of Covid-19. The circa-1,270-strong business is looking to add to its management partnerships estate which comprises around 330 (c26%) pubs.
Energy support costs for sector will be reduced from April.Under the new scheme, firms will get a discount on wholesale prices rather than their costs being capped as under the current one. Heavy energy-using sectors such as manufacturers will get a larger discount than others. The new scheme will run until the end of March 2024 and represents a significant reduction in the level of support currently being given to the sector.