All MCA Insight articles in July 2023 – Page 12
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News
End to alcohol tax freeze could see pub numbers fall further
Pub numbers could be set to decline as they brace themselves for an end to the freeze on alcohol tax, says finance specialist RIFT
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News
Loungers increases ambitions to 600 sites
Loungers continues to scale up operations with 34 sites planned for the current year, as CEO Nick Collins reveals it sees scope for 600 in total
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News
Openings of the week
MCA rounds up this week’s biggest openings stories, featuring Sexy Fish, Tortilla, Chopstix and more
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News
UKH pushes government on energy bills support
UKHospitality CEO Kate Nicholls has urged business secretary Kemi Badenoch to work with the British Business Bank to change CBILS terms
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News
Brewdog: ‘Our roots will always be in hardcore craft beers’
Brewdog CEO James Watt has revealed his vision to create a top five global beer brand, but says its roots will always remain in craft beer
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Interviews
MW Eat looks to go beyond London
The Indian restaurant group will likely expand its Masala Zone concept outside the capital in the next three years, while looking for opportunities to go international, chairman Ranjit Mathrani tells MCA
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News
Majority of households reduce spend on eating out
According to a report by IGD, 76% of lower income households are reducing spend on eating and drinking out, with 68% reducing the amount of food and drink consumed
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News
Women’s World Cup set to bring £115m to sector
Pub, bars and restaurants will generate £70.1m in drinks sales alone as the 2023 FIFA Women’s World Cup kicks off on 20 July, according to research by VoucherCodes
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News
Tampopo’s David Fox: ‘Standing still is not an option’
A constant focus on evolution in response to customer demand is the key to keeping a restaurant business moving forward, Tampopo founder David Fox tells MCA
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News
C&C Group reports ‘encouraging performance’
The premium drinks company has issued an update ahead of its AGM today, with net sales revenue for its branded business up 10% in early FY24
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News
Hakkasan Group reports post-pandemic recovery
Revenue rose 121% to $71.8m vs 2020, with the group saying “a strong focus remains on the UK market” alongside global expansion
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News
Late night levy extension ‘damaging blow’ for sector
The extension of the costly levy will be detrimental to the late night economy, according to UKHospitality.
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News
Domino’s appoints CEO
Andrew Rennie will take over from interim CEO Elias Diaz Sese as chief executive, with effect from 7 August
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Interviews
Loungers’ share price ‘obviously frustrating’
CEO Nick Collins speaks to MCA about the mystery of the group’s disappointing valuation, why seaside towns are thriving and how the group is “back at the top of our game” on food innovation
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News
Restaurant insolvency rate reaches decade high
A total of 3,347 eateries have been unable to pay their debts in the two years to March 2023, according to data from the Insolvency Service
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Interviews
Bone Daddies reports ‘consistent demand’
The group, operator of Bone Daddies Ramen, Flesh & Buns, and Shackfuyu, posted £17.3m in revenue for the year ended September 2022
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Analysis & Insight
Consumers increasingly embracing tech in hospitality, report finds
Research from Zonal and CGA finds 71% of people now prefer to use tech, either exclusively or in tandem with human interaction
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Interviews
Wetherspoon: ‘Big city centres are really rocking’
Chairman Tim Martin tells MCA that city centres have been major contributors to recent strong trading, along with food being an “ever bigger contributor” to sales
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Interviews
FB Taverns: Wet-led pubs ‘very resilient’
Speaking after FB Taverns acquired a package of 27 tenanted pubs from Cameron’s Brewery, co-founder James Maizels says there’s a good opportunity to enter the pub market “from a value perspective”
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News
McMullen’s: Our London pubs are booming
McMullen’s co-managing director Heydon Mizon tells MCA that business is booming in the capital, after reporting the group’s highest annual turnover to date.