News Bites
Increasing pub closures show impact of cost increases
New figures show that the number of pubs in England and Wales fell by 239 in the first quarter of 2024. The closures came in the months immediately following the increases to business rates and wages, which increased cost burdens for hospitality businesses by a total of £3.4 billion. UKHospitality CEO Kate Nicholls commented: “It is unacceptable that 80 pubs a month are forced to shut their doors, robbing communities and costing people their jobs.”
The Burnt Chef Project unveils Change the Menu campaign
The Burnt Chef Project, a not-for-profit social enterprise, has launched it’s ‘Change the Menu’ campaign to improve mental health across the hospitality industry. This initiative is designed to encourage recruitment and direct the industry towards the Burnt Chef Project’s free services. Kris Hall, founder of the Burnt Chef Project says: “We want to drive home the message that a healthier, more supportive work environment is not just necessary but possible.”
Inflation target being met is ‘strongest signal yet’ to cut rates
UKHospitality says that inflation falling to 2% should give the Bank of England confidence to ease pressure on businesses through a rate cut. Kate Nicholls says: “It’s clear the economy is heading in the right direction, and beginning to reduce the cost burden for the sector needs to be a priority for any incoming government.”
Euros 2024 to fuel £2.75 billion spree for UK shops and pubs
Now for some good news – in the pubs sector alone, the British Beer & Pubs Association is expecting an extra 20 million pints to be sold over the four-week period – and the wider hospitality sector could see a £613.7 million boost from the first major summer men’s tournament to be held since the pandemic without social distancing restrictions.