Chris Hargroves

Today, I reflect on the unfolding story of Hostmore, the company behind the UK arm of the TGI Fridays chain, which has plunged into administration. With 4,500 jobs and 87 outlets at stake, this dire development underscores the deeply challenging environment for hospitality businesses in the UK. Hostmore's struggle is emblematic of broader trends affecting high streets and dining practices. Despite drastic measures such as cost-cutting, pausing expansion, and even selling outlets, the burden of heavy losses and soaring debts proved insurmountable. The ambition to secure a deal with its US parent company eventually fell through, adding to the distress. However, there remains a glimmer of hope—the chain is up for sale, aiming to keep the 87 restaurants open and save thousands of jobs. In a rapidly changing retail landscape marked by the allure of online shopping and the lingering effects of the COVID-19 pandemic, companies like Hostmore have faced an uphill battle. Regrettably, this situation highlights that even well-known brands are not immune to operational and financial challenges. As this chapter in TGI Fridays UK unfolds, it offers a sobering reminder of the resilience required to navigate today's economic landscape. If anyone needs any support do reach out to me on [email protected] #UKBusiness #HospitalityIndustry #EconomicChallenges

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The sun is out and so is our Summer Menu ☀ 🍹 Thinking summer event? 😊 [email protected] #franchises #franchise #franchising #franchiseopportunities #franchiseopportunity #franchisor #franchisebusiness #franchisesuccess #franchisenetwork #franchisemarketing #coffee #coffeetime #coffeebreak #coffeepeople #businessnetworking #innovation #digitalmarketing #technology #creativity #future #futurism #entrepreneurship #careers #markets #startups #marketing #socialmedia #venturecapital #leanstartups #socialnetworking #branding #advertisingandmarketing #personaldevelopment #investing #money #sustainability #personalbranding #hiringandpromotion #business #startup #growthhacking #businessowner #businessgrowth #businessstrategy #startuplife #businessideas #businesstips #startupbusiness #businessnews #businessopportunity #businessmanagement #startupstories #startupcompany #businessplan #businessinsider #JobOpportunity #businessbranding #advertising #marketgrowth #coffeetrike #instagram #instagrammarketing #instagramgrowth #tiktok #tiktokmarketing #instagramforbusiness #tiktokforbusiness #vintage #vintagecharm

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The British Beer & Pub Association, has today sent an open letter to Rishi Sunak Keir Starmer and Edward Davey stressing the important role pubs and breweries play in communities across the UK. The letter has been signed by Young's Pubs and over 80 leading pub and brewing companies. The British beer and pub sector is one of the most historical, culturally significant, economically successful and dynamic components of British identity generating over 930k vital jobs in every part of the UK. It is imperative that the next government provides a sustainable and proportionate fiscal and regulatory framework that allows the sector to do what it does best; invest in our businesses and teams, embrace changing consumer tastes, and provide the community hubs that are the crucial and often invisible glue to social cohesion. Please ensure you share this open letter with your local Member of Parliament and let’s get the pub and brewing sector back to doing what it does best! https://lnkd.in/e32jCnpB #pubs #people #brewing #BBPA #uk #GB #community #beer #hospitality #reform #businessrates

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How long will it take to sell your business? This article from Hornblower will answer this burning question and help make the journey smoother: 🔍 Is it easy to sell a business? The ease of sale depends on various factors like business preparedness, market conditions, valuation, and your business broker's quality. Learn how to enhance these aspects for a smoother process. 🕰️ How quickly can you sell a business? Get insights into the time it takes to sell a business—typically, 70-80% sell within 12 months, with 30% completing in just 6 months. Discover the sector dynamics influencing the speed of business sales. 💰 How do you know how much to sell your business for? Unravel the complexities of business valuation. Prospective buyers consider location, revenue, contracts, management, and your role in the business. Learn how to position your business for an attractive deal. 🏃‍♂️ Which buyers act quickly? Explore the types of buyers that facilitate a smooth sale process. Cash-reserved buyers are key for efficiency, while others relying on bank loans or institutional processes may take more time. 📊 Availability of information Discover the pivotal role of up-to-date management information in a smooth sale. Having clear, detailed information readily available builds buyer confidence and streamlines due diligence. ⏳ Take time to find the right buyer – but keep the momentum Finding the right buyer is crucial for the best deal, but maintaining momentum is equally important. Learn how experienced business brokers can guide you through this delicate balance, ensuring a successful sale. #BusinessSale #Entrepreneurship #ExitStrategy

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The only thing I will say about todays budget is this: I really hope that consumers, the everyday pub goer and working person, is ready for what will likely be the single biggest retail sale price increase in our sector probably ever. If you think prices have gone up a lot over the last few years you’ve no idea how much of that cost has just been absorbed by operators. Look around and take stock of the impending cost increase of simply having people to serve you, and how those same costs will impact the supply chain. This isn’t simply 10p on a pint, it’s going to be seismic unless other ‘new’ measures are announced and not simply continuation of existing ones like rates relief. #ukhospitality #hopsitality #budget

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