Confidence among Britain’s hospitality leaders has plunged as sector challenges deepen, with CGA by NIQ’s latest Business Confidence Survey revealing worsening sentiment amid squeezed margins and reduced consumer spending.
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Failure to tackle some of their most pressing concerns have left trade bodies and operators frustrated. James Bayley rounds up their thoughts.
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Glynn Purnell’s Michelin-starred restaurant, Purnell’s, has shut its doors after 17 years. The Birmingham-based restaurant served its final guests on 12 October, with Purnell citing economic challenges and pressures on the hospitality sector as key reasons for the closure.
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The licensed sector has shrunk by nearly 10,000 sites from pre-Covid levels, the new Market Recovery Monitor from CGA and AlixPartners has revealed.
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Costs resulting from ongoing supply chain issues are likely to be passed onto the customer this autumn, CGA has predicted, with three-quarters of hospitality businesses admitting that they are likely to raise prices as a result.
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David Kermode takes the measure of Champagne, which managed to add some sparkle to its sales in 2020 despite the loss of celebratory drinking occasions.
Retail sales slowed in May to the lowest annual growth since April 2013 as shoppers begin to feel the impact of price inflation, according to the late Retail Sales bulletin from the Office for National Statistics.
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