Finance
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Nearly half of Britain’s rural pubs could be missing out on vital funds to help them weather the recession, a new report has warned. According to a survey by the Federation of Small Businesses (FSB) village businesses, including pubs, are entitled to 50% relief - and in some cases up to 100% relief ...
Posted: 07 July 2009 | 11:36
Luxury hotel group Von Essen is looking to double its portfolio after making profits of more than £10m in 2008. The group’s fifth annual report shows its turnover increased 20% from £56.8m in 2007 to over £70.6m in 2008. Gross profit jumped 24% to £60.678m, while net profit ...
Posted: 07 July 2009 | 08:30
A round-up of the weekend's news affecting the hospitality industry. News includes: Punch’s £375m shares issue narrowly scrapes through vote; no-star hotel in Switzerland slashes room rate to £5.99; McDonald's drive-through turns away tandem riders; and more
Posted: 06 July 2009 | 10:24
Most businesses are beholden to a bank in some shape or form. Here, Sara Stewart, at accountancy firm Jeffreys Henry, explains the importance of getting the basics right
Posted: 03 July 2009 | 19:08
The number of hospitality companies being made insolvent is set to rise again after a summer “lull”, consultancy KPMG predicted today. There has been an average of 350 administrations a month since the beginning of the year, but figures for May are much lower at 178,...
Posted: 03 July 2009 | 16:13
Don't leave me this way! All good things end dear readers and this is my last Friday Wrap as I’m off to pastures new. I hope you’ve enjoyed the show, which must go on, after all. Looks like it's most certainly been squeaky bum time for Gordon Ramsay recently, with global expansion ...
Posted: 03 July 2009 | 13:12
Profits at Gordon Ramsay Holdings (GRH) plummeted nearly 90% last year as the celebrity chef rapidly expanded his restaurant business across the globe.
Posted: 02 July 2009 | 15:41
More than two thirds of the UK’s hotel operators are in financial danger, analyst firm Plimsoll Publishing has warned. Plimsoll rated each of the UK’s largest 1,000 hotels companies into one of five ratings based on their overall financial performance: strong, good, mediocre, caution and danger.
Posted: 01 July 2009 | 12:54
The chief executive of Capital Pub Company today called for the business model of the major pub companies to be referred to the Competition Commission. In May, MPs on the Business and Enterprise Committee slammed the major pub companies and the beer tie ...
Posted: 30 June 2009 | 10:29
A round-up of the weekend's news affecting the hospitality industry. News includes: Gunman shoots two people in Harry Morgans restaurant; Marston's investors rebel against “spurious” rights issue; Eel, pie and mash shops under threat ; Mardan Palace hotel owner attracts fury of Russian Prime Minister
Posted: 29 June 2009 | 10:26
"In the current economic climate, consumers are much more watchful of their spending," says Tim Doran, client development manager at 3663 First for Foodservice, "and recent findings by Mintel show that 66% of consumers are now spending less on going out to restaurants."
Posted: 26 June 2009 | 13:53
Borrowers who breach their loan covenants could be putting their business in jeopardy, says Chris Lane, a partner at accountancy firm Kingston Smith.
Posted: 26 June 2009 | 13:52
British Hospitality Association (BHA) chief executive Bob Cotton this week warned that the industry needs to do more to make politicians understand the value of tourism as he delivered his speech at the BHA's annual luncheon
Posted: 26 June 2009 | 13:52
Hospitality operators have been urged to stress the economic importance of the industry to politicians and parliamentary candidates in the run up to the next general election, Speaking at the British Hospitality Association annual luncheon in London yesterday to guests including London Mayor ...
Posted: 25 June 2009 | 11:24
Piccolino owner the Individual Restaurant Company (IRC) is to raise £2.1m through a share offering to pay down debt. IRC, which is listed on the Alternative Investment Market, renegotiated its banking facilities with Lloyds in March 2008. However the extension was based on the future ...
Posted: 22 June 2009 | 16:46
O’Brien’s Sandwich Bars has placed its UK subsidiary into administration after being hit by poor trading. The Ireland-based chain, which has 109 franchised stores in the UK, said it had taken the step for the benefit of franchisees and to protect jobs.“Our first priority is to secure jobs ...
Posted: 22 June 2009 | 12:09
A round-up of the weekend's news affecting the hospitality industry. News includes: M&B faces new challenge from hedge fund investors; Punch to sell up to 1,150 pubs; one-third of pubs sold convert to alternative uses as property agents say the UK has too many.
Posted: 22 June 2009 | 10:23
Caterer Best for Business participant the Taverners pub in Godshill on the Isle of Wight has been recommended in the Guardian’s "Guide to Summer Pub"s, which isn't bad going. For all the latest in the series see our Best for Business page.
Posted: 19 June 2009 | 14:20
A restaurateur who launched a nationwide petition demanding that Gordon Brown raise the VAT limit, says he will carry on fighting despite a knock back from a Treasury minister. Over 50 restaurant owners throughout the Midlands have signed the on-line petition from Leicester curry house ...
Posted: 19 June 2009 | 07:00
Marston’s today announced plans to raise £176m through a share issue to create a warchest to speed up development of new pub sites and make acquisitions. The brewer and pub operator will use £140m of the total to acquire and develop new pubs, taking advantage of the ...
Posted: 18 June 2009 | 13:50
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