Recession
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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
Arinza Star Hotels - owner of two hotels in Derbyshire and Lancashire - has been placed in administration. The administrator, financial advisory and investment banking firm Duff & Phelps, has appointed Legacy Hotels and Resorts to operate the two hotels.
Posted: 26 January 2012 | 18:05
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
Insolvencies in the hospitality and leisure industry have rocketed 30% in the last quarter of 2011 compared with the last quarter of 2010. Analysis of Government insolvency statistics by PricewaterhouseCoopers (PwC) showed that there were 375 insolvencies in the hospitality and leisure sector...
Posted: 10 January 2012 | 13:27
Pub and casual dining groups have welcomed plans from retail guru Mary Portas to strengthen the high street, as part of her report on the issue, published today. But they warned that restaurants and pubs should not be forgotten in the equation. Portas's recommendations included: improve the management of high streets with new "town teams"...
Posted: 13 December 2011 | 17:12
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
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
Bars have been particularly badly hit by a sharp rise in the number of administrations in the hotel and licensed trade sector. The number of businesses in the hotel and licensed trade that fell into administration in the third quarter of 2011...
Posted: 04 November 2011 | 11:38
Pub group JD Wetherspoon has blamed the squeeze on consumers' income for a 0.2% drop in operating margins to 9.3% for the first quarter of its financial year. Like-for-like sales rose 1.1% and total sales were up 7.3% over the 13 weeks to 23 October 2011...
Posted: 03 November 2011 | 12:41
The impact of the London 2012 Olympics upon the hospitality industry is to come under analysis at a forthcoming event, HOSPACE 2011. Against a background of economic turmoil in Europe and the United States...
Posted: 02 November 2011 | 11:03
The UK's high rate of VAT is one of several barriers to the growth of the hospitality industry, a new report from the British Hospitality Association (BHA) has warned. The report, entitled Hospitality: Driving Local Economies, is aimed at highlighting the critical role the sector plays in the economic and social life...
Posted: 13 October 2011 | 09:46
Tied publicans are much more likely to say they are struggling financially and also earn significantly less than non-tied operators. That is one of the conclusions in a report by the Institute of Public Policy Research (IPPR)...
Posted: 30 August 2011 | 11:59
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
George Osborne's Budget announcement today offers some good news for small businesses but there are concerns that it doesn't go far enough to kick-start consumer confidence. And plans to increase personal tax allowance by...
Posted: 23 March 2011 | 16:10
The Government is now 'changing gear' to start implementing its Tourism Strategy launched earlier this month. That's the message from Tourism Minister John Penrose, responsing to criticism from British Hospitality Association chief executive Ufi Ibrahim that the Strategy was...
Posted: 16 March 2011 | 13:36
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
Trading announcements suggest some of the best known names in the eating-out and pub sector are making headway, despite the economic climate. Chris Druce reports.
Posted: 16 September 2010 | 15:26
Hoteliers in Liverpool and the North East are likely to suffer the most from planned cuts to Government spending. That's the warning from PricewaterhouseCoopers, which last week predicted that a 25% slashing of public sector budgets would drag down nationwide growth...
Posted: 12 August 2010 | 11:20
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