Prezzo restaurant

Report: top 100 UK restaurant chains lost £82m in past year

Nearly half of the of the UK’s Top 100 restaurant groups are now loss making, according to accountancy group UHY Hacker Young. New figures published by the firm reveal that the top 100 restaurants made a loss of £82m in the last year, down from a pre-tax profit of £102m twelve months ago. Of the UK’s Top 100 restaurant groups, 48 are now in the red, up from 37 last year. The huge loss in profits has been caused by a number of restaurant chains’ going through radical restructuring in…

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Stack Newcastle

Independent restaurants cooking up a storm in UK cities

Looking at the challenges facing the casual dining sector, you could be forgiven for thinking that the whole restaurant market is struggling against the current headwinds. However, while many chains have halted previously aggressive expansion strategies, right now in the UK the independent restaurant scene is in fact buzzing with activity. The UK is not saturated with restaurants, as many might believe. It’s saturated with too many of the same restaurants at a time when consumers want variety and are seeking new experiences. As a result of the casual dining…

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Artist impression of long-awaited Northern Gateway cinema complex, Colchester

Colchester: “Brexit has delayed” new cinema complex

COLCHESTER’S long-awaited Northern Gateway cinema complex scheme has been delayed…by Brexit. A commercial property firm tasked with marketing the site next to Colchester United’s stadium said it has struggled to attract restaurants to take up units. Developer Turnstone Estates had originally said construction would start by the summer with the complex due to open late next year. But it has now been confirmed work will start towards the end of this year with the scheme opening in 2021. Turnstone was chosen by land owners Colchester Council to take on the…

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