21/09/2022
Leaders of trade bodies representing pubs, brewers, bars, restaurants, and hotels have written to the Chancellor ahead of the fiscal statement later this week warning that a lack of clarity on energy could be fatal for businesses. In a letter to Kwasi Kwarteng, representatives from across the hospitality industry called for urgent clarity on the energy cap for businesses and wider support and a long-term plan to secure the future of the sector and save businesses and jobs across the UK. The Caterer report that they warned that business owners were making decisions now about whether they could survive the winter, and simply could not wait any longer to understand whether they should sign new contracts or not.
The British Institute of Innkeeping (BII) has launched a campaign to call on pubs and their customers to write to MPs, repeating calls for Government support for the sector amid warnings of a threat to businesses' survival if the Government does not intervene to tackle rocketing energy costs. It is urging pubs and customers alike to write to local MPs, asking them to raise the need for wide-ranging support for the sector, ahead of new Chancellor Kwasi Kwarteng's rumoured mini budget in the next few days reports Morning Advertiser.
Pub group Fuller's has said it expects its total gas and electricity costs this year to be around £18m, compared to £8m last year, advises The Caterer. In a trading update for the 25 weeks to 17 September, the group said the global energy crisis was causing "significant increases" in expected costs for gas and electricity.
A late-night levy on pubs and bars in Nottingham is to be revoked from next month in a bid to ease financial pressure on local businesses. The authority confirmed the levy would be revoked from 31 October, advises the BBC. Members of the Business Improvement District (BID) had previously been given an exemption, but it has now been decided that the charge should be scrapped completely.
Insolvencies of pubs, bars and restaurants have increased 59% in the past year, according to data from the Insolvency Service, amid rocketing energy prices. Big Hospitality report that figures show that 2,156 of hospitality firms became insolvent in the past 12 months, compared to 1,354 business before the year. The number of operators filing for insolvency was particularly acute in August with 216 insolvencies of pubs, bars and restaurants registered, up 37% from 158 in July.
Leicester City Council has unanimously approved Leicester City Football Club's plans to boost the capacity at King Power Stadium by 8,000 seats, and to develop a new hotel and business centre, merchandise store, events arena and residential flats report EG News.