The Daily Telegraph
Pub group ‘We are about to be hit beyond recognition’
As a food-driven pub group – with a ninth pub opening at the end of September – we are about to be hit beyond recognition.
Energy costs of £300,000 are rising to £1.2m in October. We are targeting our variable costs, increasing prices and looking at reducing our staffing models, all of which will reduce taxes paid to HMRC. We have an internal working group who have identified multiple energy saving measures and we are reviewing our opening hours to see if we can turn kitchens off during lull times.
Offering us six months of support doesn’t do anything except for those six months. And then what? We need VAT back to 5pc and business rates relief for the next two years. Without this we won’t be able to invest in our group. We forecast an extra 150 people joining us next year. That will stop indefinitely. Sebastian Fogg, managing director, Cubitt House