FRP Advisory, the specialist restructuring and advisory firm, confirms that its partners Andrew Sheridan and Gareth Morris have been appointed joint administrators to Singer Inns and Taverns Limited the operator of six public houses in Devon and Somerset. Three of the Devon pubs are already being operated by new tenants which has secured ongoing employment for all 46 staff … [Read more...]
European cities’ hotel forecast 2014 and 2015: a growth story across Europe
According to PwC’s latest European hotel forecast*, the improving economic and travel backdrop has helped rejuvenate trading in almost all the 18 cities analysed. But the pace of growth varies from city to city and the challenge for hotels will be to capitalise on this improving climate while responding to the megatrends impacting their business. PwC anticipate growth in 17 … [Read more...]
Appetite for Fairtrade continues to grow
The Fairtrade Foundation is in the middle of Fairtrade Fortnight (24 February – 9 March) as well as its major new Make Bananas Fair campaign, whilst Fairtrade sales continue to grow - 14 per cent during 2013 - demonstrating continuing public and business support for Fairtrade goods. Michael Gidney, Chief Executive of the Fairtrade Foundation says: “It’s 20 years since the … [Read more...]
Jump in restaurants going out of business
The number of restaurant businesses going out of business in the UK jumped from 170 in Q3 2013 to 182* in the last quarter of 2013, according to Wilkins Kennedy LLP, the Top 25 accountancy firm. Figures show that restaurant insolvencies also jumped by 9% on the same period last year when there were 167 insolvencies in the three months running up to New Year’s Eve. Increase … [Read more...]
Union Hanover Securities new team to build £1bn hotel portfolio
Union Hanover Securities has been transformed into an investment grade hotel development and operations platform which aims to grow its current £350m portfolio to £1bn over the next five years. The re-engineered investment and development company announced a major refinancing that has enabled it to restructure and finance a series of major hires. Capitalising on the rebound … [Read more...]