Today’s news in brief – 08/11/24
Krispy Kreme has seen Q3 losses widen to $16m (£12.9m), up from a loss of $2.1m (£1.7m) in the previous year, as the UK market underperformed over the period. It comes as net revenues fell by 6.8% to $379.9m (£305.9m), down from $407.4m (£328.2m). Despite this, organic sales rose by 3.5% to $376.4m (£303.0m) over the period.
UKH has called the interest rate cut “positive news in the short-term”, saying it will alleviate some pressure for those in the sector who still struggle with pandemic debt repayments and consumer confidence. The NTIA said that the nightlife industry also faces rising operational costs and declining consumer spending despite the Bank of England’s interest rate cut.
Blind Tiger Inns has acquired its 20th pub with Star Pubs, increasing its estate to 22 sites. The north west pub along with Star Pubs are currently carrying out a joint £150k refurbishment of The Stanley Arms, which is due to reopen in late November. The new venue will bring 10 new jobs to Preston.
Rick Stein has been named one of this year’s 100 Best Large Companies To Work For by Best Companies. Ranking 80th overall in the 2024 list, the family business also placed 15th in the Leisure and Hospitality Sector and 30th in the South West Regional lists. The Best Companies survey assesses leadership, personal growth, wellbeing and team dynamics.
Claro has opened in St James’s London. The Eastern Mediterranean restaurant was founded by a close-knit team of four partners, all long-time friends. Led by chef Shadi Issawy, the London kitchen offers a dining experience that mirrors the “celebrated” culinary approach of their restaurant in Tel Aviv, which has been open for over a decade.
