Today’s news in brief – 20/12/24

Drake and Morgan reported that turnover rose 5% to £45.5m for the year to 31 March. Alongside this, the company’s adjusted EBITDA rose to £4.4m, up from £4.1m the previous year. It comes as the company has stated that Christmas bookings are set to eclipse last year’s record across its estate.

UKH has expressed disappointment in the BoE’s decision to hold interest rates at 4.75%, which came after a recent hike in both inflation and wage growth. According to the trade body, a rate cut could have helped incentivise economic growth and relieve the pressure of high interest rates on hospitality businesses. 

Cornish Bakery’s new site in Milton Keynes has “surpassed all expectations”, taking a record-breaking £40k within its first week of trading. At 200 sq metres, the new Milton Keynes bakery is the largest opening for the independent chain this year and occupies a “key cornerstone” location within the “premium, style-driven” centre:mk shopping destination. 

Restaurant Six by Nico will open its first Bristol venue in February 2025 at Quakers Friars. Six by Nico is best known for its ever-evolving six-course tasting menu concept that changes every six weeks. Each menu is inspired by a destination, memories and creative storytelling. The Six by Nico journey began in Glasgow in 2017.