Recession
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Moorgate Taverns has become the latest victim of the economic downturn after trading at a loss and breaching its banking covenants. Administrator RSM Bentley Jennison has been appointed to assess Moorgate Tavern’s 10-strong estate within Hertfordshire, Oxfordshire and the ...
Posted: 15 September 2009 | 08:00
When his restaurant business went into administration at the beginning of the year Antony Worrall Thompson must have been tempted to sit back and rely on his TV and writing work. In fact, he's back in the kitchen seven days a week. Janet Harmer reports.
Posted: 11 September 2009 | 10:22
InterContinental Hotels Group (IHG) has combined its Latin American and Caribbean regions under the leadership of Alvaro Diago, in its latest cost-saving manoeuvre. Diago, who was previously area president for Latin America, is now chief operating officer...
Posted: 10 September 2009 | 13:00
One hotel company goes bust every other day despite 'staycation' Britons taking more holidays at home, it was revealed today. There were 53 hotel insolvencies in the April-June 2009 period, according to figures from accountancy firm Wilkins Kennedy. Overall, there were 6,588 company insolvencies ...
Posted: 08 September 2009 | 09:00
Jason Harding, general manager of the Lowry in Salford, Manchester, and a Master Innholder, is remaining positive about the future. Here, he discusses how the economic climate should be viewed as a learning and challenging experience.
Posted: 07 September 2009 | 07:00
Entrepreneur David Heeley, president of Hi-Life Diner's Club which he co-founded in 1985, explains how it has grown to become the UK and Ireland's largest two-for-one dining club, with 100,000 plus members and a network of more than 2,500 restaurants.
Posted: 01 September 2009 | 08:00
An unprecedented combination of factors has resulted in record numbers of community pubs closing - but what of the individual publicans who are struggling to keep their businesses afloat? Through the experiences of two such operators we can begin to understand the human side of a market in decline. Emma White reports.
Posted: 28 August 2009 | 17:08
UK hotel general managers are increasingly positive about their hotel’s trading performance for the latter half of 2009, according to the latest Hotel Confidence Monitor by TRI Hospitality Consulting.
Posted: 18 August 2009 | 12:19
Restaurant operators must tighten the purse strings for the rest of the year even if they see an upturn in trade, research has warned. Market analyst Horizons has warned that even if the economy improves, corporate spend is likely to remain low...
Posted: 18 August 2009 | 11:35
Yorkshire brewery Tetley’s is under threat of being closed down, with 170 jobs having been put at risk. Brewer Carlsberg has announced plans to shut the Leeds-based brewery due to financial pressures.
Posted: 17 August 2009 | 09:00
Celebrity chef Gordon Ramsay has spoken out about how the restaurant industry has suffered during the recession because it became too arrogant and forgot that customers are king. Gordon Ramsay was recently forced to publicly admit that his restaurant business came close to collapse earlier this year.
Posted: 14 August 2009 | 07:00
The international hotel market is doing a good job in restructuring and adapting to the current global economic squeeze, concludes the latest biannual hotel survey from travel group Hogg Robinson.
While most regions have seen hotel room rates decline in local currency terms ...
Posted: 13 August 2009 | 09:00
The economic downturn is giving emerging operators the chance to flourish as larger chains pull back on expansion plans, research has found. According to a report into the branded restaurant sector by property agent Christie + Co, many of the UK’s leading restaurant operators have delayed expansion ...
Posted: 10 August 2009 | 14:41
Luxury hotel group Mandarin Oriental’s profits have been hit exceptionally hard in the first six months of 2009, falling by almost $35m (£20.6m). The company reported profits of just $1.1m (£0.64m) after tax for the first six months of the year, compared with $35.7m (£21.03m) for the year ended 31 December 2008.
Posted: 06 August 2009 | 12:28
The historic Aerodrome hotel in Croydon, which claims to be the world’s first airport hotel, is now up for sale for £9m after entering administration. The 109-bedroom hotel, which has recently undergone an extensive refurbishment, went into administration in June after current economic conditions ...
Posted: 05 August 2009 | 10:00
A preferred bidder has been selected for the £3m luxury Ellington hotel in Leeds with a deal expected to be completed within weeks. The 35-bedroom Ellington, which only opened in September last year, was previously managed by Pantin Hotels and put up for sale in March after its owner City Retreats ...
Posted: 04 August 2009 | 10:00
The closed hotel in York that was formerly operated by buy-to-let firm Owner Hotels has been reopened under a different management company after Owner entered administration. The Jorvik hotel on Marygate in York, which was closed earlier this month, has now been reopened under the newly-formed ...
Posted: 28 July 2009 | 07:00
Suppliers and creditors are being urged to give leeway to restaurant owners as the recession tightens its grip, or see more businesses go to the wall completely. John Cullen, insolvency practitioner at Harris Lipman chartered accountants, said the sector as a whole has severe problems.
Posted: 27 July 2009 | 07:00
Celebrity chef Antony Worrall Thompson could be the subject of an embarrassing legal battle from two disgruntled former employees, The Independent has reported. Richard de Wet, who helped Worrall Thompson found the Windsor Grill, claimed he and his wife were owed £5,000 of holiday pay ...
Posted: 23 July 2009 | 08:00
The British Hospitality Association has urged restaurants to be open with customers in its first code of practice on discretionary tips and service charges.
The code, produced in conjunction with the Department for Business and issued this week, urges restaurants and hotels ...
Posted: 20 July 2009 | 17:32
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