The amount restaurant owners are borrowing to keep their own businesses afloat has increased 12% in the past year, from £377 million in 2020/21, to over £424 million in 2021/22, says Mazars, the audit, tax and advisory firm.
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The average amount consumers spend each month in restaurants, takeaways and pubs has fallen since the start of the pandemic, with restaurants the hardest hit, new research has found.
An independent survey of 2,000 UK adults, conducted by Peckwater Brands, claims rising inflation and energy costs have reduced consumer spending, leaving hospitality businesses at risk.
Restaurants have seen the highest drop-off in consumer spending since the start of 2020, down 16% from £58.90 per person per month to £49.30. Spending in pubs fell 14.6% from £47.90 to £40.90, while spending on takeaways saw the lowest reduction, falling just 10% from £47.70 to £42.30.
While the cost-of-living crisis continues to loom large, the majority (63%) of UK adults surveyed said they still consider takeaways a treat they look forward to, with 34% intending to continually get them regularly (at least once per month) with 33% budgeting for this expense.
Ahead of Wine Paris and Vinexpo Paris in February 2023, organisers have partnered with Wine Intelligence to delve into the drinking habits of UK wine consumers.
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It seems no matter where the cost increase comes from – whether it be energy bills, business rates or fuel increases – the consumer will always pay the ultimate price.
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Italian specialist Armit Wines unveiled a raft of new wines at its London tasting this autumn, in addition to library vintages and big formats, while billing the ‘New Fine Wines of the Future’ among its new and existing agencies.
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Much is written in Harpers about alternative styles and lesser-known grape varieties, and for good reason – discovering new and exciting wines is all part of the fun in this business.
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52 Main Street, Lyddington, Oakham LE15 9LT
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Nick Gillett, MD at specialist spirits company Mangrove UK, talks challenges and opportunities for the still beleaguered on-trade.
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Less than a week before the announcement of The World’s 50 Best Bars 2021, sponsored by Perrier, 50 Best has revealed the bars voted onto the extended 51-100 list.
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The government has announced that it will extend the alcohol off-sales easement, introduced during the pandemic, to September 2023, following a campaign led by UKHospitality and other sector bodies.
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Heathrow Airport, Terminal 5, Hounslow TW6 2GA
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With the on-trade bouncing back there’s little doubt about the enthusiasm for and calibre of the UK’s sommelier fraternity if the ample nominations for Harpers Top 25 Sommeliers are anything to go by.
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Harpers is delighted to announce the launch of its Top 25 Sommeliers, designed to recognise and celebrate the leading lights in the on-trade drinks world.
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Nightjar Carnaby
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The Arber Garden
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With its menu populated by Central and South American delicacies, Paladar aptly defines itself as “the taste of Latin America in the heart of London SE1”. To match its geographical scope, the restaurant’s wine list consists of labels from Peru, Uruguay, Brazil, and Mexico. Chile and Argentina feature too, of course – South America-themed restaurants serve as their natural home. Elsewhere however, the continent’s two leading wine-producing countries tend to be relegated to the cheaper end of the wine list.
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Oz Clarke, the wine writer and presenter, waxed lyrical about the wonders of Portuguese wine during a masterclass on Tuesday, explaining to the audience why the on-trade should sit up and take notice.
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