Food-led pubs help to drive new openings
Market Growth Monitor, AlixPartners and CGA Peach have released their latest set of quarterly growth figures for the UK's bar and restaurant sector, revealing that casual dining restaurants and food-led pubs are helping to drive new openings.
A decline being felt in marginal sites, particularly community pubs, is being offset by entrepreneurial food-driven businesses and pub groups' ongoing process of converting drink-led pubs into food establishments.
As of March this year, there were 123,732 licensed premises in the UK. This was 0.5% fewer than the same month last year, but 4.4% fewer than five years ago.
The growth monitor also revealed that the UK's stock of pubs and bars fell by 2.7% in the past year, and by 9.9% over the past five. Total net closures reached 5,778 in the same period.
There are now 0.6% more restaurants than there were a year ago, and 21.3% more than five years ago.
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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