Today’s news in brief – 10/02/25

Red Engine has unveiled its 2025 global expansion plans as its Q4 sales rose 24% to £25.3m. The hospitality group behind Flight Club and Electric Shuffle saw its sales combined with its franchise partners reach £38.4m, spelling a rise of 23% year-on-year – with like-for-like sales increasing by 4%. 

Britain’s late-night hospitality sector saw a reduction of 2.8% of venues in 2024, meaning that by December there were a total of 2,264 nightclubs, late-night bars and casinos. Nightclubs have borne the brunt of these closures, with numbers having dropped 33.2% following the impact of Covid lockdowns, high inflation and pressure on consumer spending. 

Cornish Bakery is looking to expand as FY24 net turnover rose 24.05% to £29.4m. At the end of the year ended May 2024, the group had 61 bakery locations across the UK – five more than a year prior – including six locations under a franchise agreement with Roadchef Motorways. Staff retention was also “at an all time high” across the group.

The challenges facing the hospitality sector are “far from over”, Price Bailey has warned, after the decision to reduce the base rate on 6 February was an attempt to simulate economic growth. According to the firm’s recent research, some 21% of pubs and bars, and just over a fifth of licensed restaurants, are now technically insolvent.