credit crunch
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Serial entrepreneur Luke Johnson has slammed the discount culture that remains prevalent on the high street, branding Groupon as a way to attract 'hit and run' customers. The Risk Capital Partners chairman, and former chair of Channel 4 and PizzaExpress...
Posted: 08 February 2012 | 14:12
Around one-third of hospitality businesses in London say they will not increase pay - or even try to cut wages - this year, according to a report from accountants RSM Tenon. Some 92 owners, chief executives and directors from hotels, restaurants, bars, pubs, clubs and spas took part in the survey...
Posted: 24 January 2012 | 15:46
Roadside restaurant chain Little Chef has confirmed that it will close 67 sites and shed between 500 and 600 jobs. In a statement the company said the sites had been trading unprofitably for a number of years and their closure would allow Little Chef to focus its resources on developing its more successful restaurants.
Posted: 11 January 2012 | 12:40
Little Chef is reportedly preparing to close 70 of its restaurants and cut 600 staff. The Sun reported that company bosses would break the news to staff today.
The move would mean that more than 40% of Little Chef’s outlets would be affected.
Posted: 11 January 2012 | 09:50
J&G Inns, which operates two hotels in the north of England, has fallen into administration. Its two properties, the Lord Crewe Arms hotel in Blanchland and Warkworth House hotel in Alnwick, will both be sold but will remain open.
Posted: 30 November 2011 | 10:07
The original UK Harry Ramsden's restaurant is to close after 83 years in business because it is losing money. The first branch opened in Guisely, Leeds in 1928 but the fish and chips chain said it was losing money and needed a "considerable investment" before it could return to profit...
Posted: 30 November 2011 | 09:38
An award-winning restaurant in Surrey has been forced to close after the landlord increased the annual rent by 20%. The Westerly in Reigate, which won the Remy Martin Restaurant Excellence Award in 2008...
Posted: 10 November 2011 | 16:53
An Oxford Hotels and Inns hotel in the far north of Scotland is to close its doors over the winter months for the first time. The Royal hotel at Thurso,...
Posted: 21 October 2011 | 12:40
Comet business development manager for hospitality, Nick Youle explains how funding problems can be overcome though leasing arrangements...
Posted: 12 October 2011 | 14:54
Mexican fast casual dining chain Chilango has closed its Meadowhall site in Sheffield. The move leaves the firm, run by former Skype executives Eric Partaker and Dan Houghton, with three sites in central London and...
Posted: 07 October 2011 | 09:19
British banks are failing the hospitality industry by withdrawing their support from well-run, profitable hotels, according to the Good Hotel Guide 2012: Great Britain and Ireland...
Posted: 03 October 2011 | 10:26
Hospitality is one of the sectors still being worst hit by the recession, new figures confirm. The latest PricewaterhouseCoopers (PwC) research found...
Posted: 19 April 2011 | 14:45
Consumer spending in Britain's pubs and bars has grown by 4.4% during the first quarter of 2011, according to the latest consumer expenditure index from...
Posted: 07 April 2011 | 13:50
Pub closures have slowed slightly but pubs are still shutting their doors at the rate of 25 a week across Britain. That's the warning from the British...
Posted: 16 March 2011 | 11:19
Research by KPMG has struck a warning for hospitality operators that continue to discount in the wake of rising input costs. The accountancy firm...
Posted: 02 March 2011 | 12:23
Many experienced operators in the hospitality and leisure sector are seeing this time of economic uncertainty as an opportunity to grow their business.
Posted: 10 February 2011 | 12:26
Small businesses ended 2010 less confident than they were at the beginning of the year, with hospitality firms in particular hit by the big freeze in December...
Posted: 18 January 2011 | 11:00
Consumers are bracing themselves for a freeze in household expenditure in the coming months, as job uncertainty and stalling incomes continue to hit home and affect sentiment...
Posted: 27 September 2010 | 11:21
As banks continue to support only the best business plans, securing backing remains fraught and fickle. Stuart Planner examines where to go when looking to raise finance.
Posted: 01 July 2010 | 14:52
The term “credit crunch” has gone from technical financial jargon - referring to the sudden reduction in the general availability of loans and the increasing cost of obtaining them - to become pretty much everyday language.
Posted: 17 September 2009 | 11:28
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