7.7% sales upswing for M&B
Mitchells & Butlers (M&B) has reported like-for-like sales growth of 7.7%, according to a trading update for the 15 weeks to 13 January 2024.
Archives for January 18, 2024
North Brewing files NOI to appoint administrators
North Brewing Co has reportedly filed a notice of intention (NOI) to appoint administrators in a bid to seek “additional investment” into the business.
Number of pubs expected to decline in 2024
The total number of pubs in the UK will “continue to decline” as more than a third of freehold sites sold in 2023 no longer operate as pubs, according to the Fleurets Survey of Pub Prices January 2024.
Pint prices jump 10% YOY
The Government “must act to secure the future of pubs” as the average cost of a pint of draught lager in the on-trade soars by more than 10% year-on-year (YOY).
City Pub Group acquisition by Young’s set to complete in March
The acquisition of City Pub Group by Young’s is expected to complete on 4 March following shareholders voting strongly in favour of the transaction.
Cost of a freehold pub £150k down in 2023 vs 2022
The average sale price for a freehold pub was almost £150,00 lower in 2023 than the previous year, the Fleurets Survey of Pub Prices January 2024 has revealed.
‘Bumper Xmas trading doesn’t resolve ongoing challenges’
Managed pubs saw like-for-like sales growth of 9.6% in December, according to new research, but this doesn’t solve the sector’s continuing challenges.
JD Wetherspoon credited as a UK Top Employer
JD Wetherspoon (JDW) has been recognised by the Top Employers Institute as a Top Employer United Kingdom 2024.
UKH Cymru calls for more business rates support
UKHospitality (UKH) Cymru is urging the Welsh government to raise its business rates relief from 40% to 75% using allocated funds from the UK Government.