Sector bosses write to RMT urging for resolution to ‘damaging’ train strikes: Sector bosses have written to Mick Lynch, secretary-general of the Rail, Maritime and Transport Workers union (RMT), to urge for a resolution to the train strikes “devastating” the sector. The bosses said they are already seeing signs of an impact on festive bookings as a result of the action. Union bosses unveiled plans on Tuesday (22 November) for strikes on 13, 14, 16, and 17 December, as well as several days in January. The letter states: “As the chief executives of hospitality businesses with more than 30,000 team members, we write this letter with them in mind. That is more than 30,000 people affected by RMT’s proposed strike actions in December; more than 30,000 people who rely on the boom from festive trading for working hours, pay and tips. As we’re sure you’re aware, train strikes during the Christmas party season disproportionately impact front line hospitality workers – costing our hard-working team members hours and highly valuable Christmas tips. The four weeks prior to Christmas account for a large percentage of our team members’ annual income – so the proposed strikes have a huge impact on their earnings potential. Since your recent announcement regarding strike action in December, we are already seeing signs of an impact on our Christmas bookings – bookings for the first Christmas since 2019 that aren’t affected by covid. If these strikes are not called off imminently, this impact will be devastating. We admire your dedication to support your workers. But we hope you understand our need to do the same for our team members. We need a quick resolution to these strikes. And we need it right now. We are calling on all parties to resolve this quickly and we hope that you, in your prime position, will do your bit to bring this dispute to a resolution as quickly as possible.” The letter has been signed by Simon Emeny, chief executive of Fuller’s; Simon Longbottom, chief executive of Stonegate Group; Charlie Gilkes, co-founder and chief executive of Inception Group; Rob Pitcher, chief executive of Revolution Bars Group; Nick Pring, co-founder of Urban Pubs & Bars; Ed Martin, co-founder of ETM Group; Jillian MacLean, chief executive of Drake & Morgan; Clive Watson, chairman of City Pub Company; and Simon Dodd, chief executive of Young’s.

Nando’s reduces losses by more than half amid ‘bounce back’ in customer demand: Nando’s has reduced its losses by more than half amid a “bounce back” in customer demand over the past year. However, the business said its return to profit was slowed down by wage inflation, higher goods costs and disruption across the firm’s supply chain. Chief executive Rob Papps said the company expects 2023 to be “another volatile year” as the economic backdrop continues to weigh on consumers. It came as the chain, which has 898 restaurant sites, unveiled its annual accounts for the past year across its key global markets, excluding South Africa. Nando’s revealed revenues jumped to £1,066,250 for the year to 27 February 2022, up by 60.3% from £664,966,000 the year before. It said it returned to “near pre-pandemic” levels despite continued closures through the year driven by staff isolation or product shortages. As a result, the company heavily cut its losses but remained in the red as rocketing costs weighed on the restaurant sector. Nando’s reduced its pre-tax losses to £99,493,000 for the year from £241,797,000 the previous year. The loss was primarily driven by interest expenses of more than £98m for the year, causing pre-tax losses to swell from an operating loss of £1.2m. The accounts also highlighted the company held more than £1bn in loans and borrowings at the end of the financial year. Papps said: “The 2022 financial year saw a significant bounce back in customer demand following a return to eating out since the peak of the pandemic. Nevertheless, ongoing restrictions across many of our markets still impacted our sales performance and we also saw a meaningful increase in business costs, including wage price inflation, a rise in the cost of goods, and disruption in the global supply chain, which slowed a return to profitability. We expect 2023 to be another volatile year as a result of the macroeconomic environment, but my confidence in the strength of the Nando’s brand is higher than ever, as we continue to invest for the long term by expanding our restaurant footprint and enhancing our digital capabilities.” Nando’s also said it has been “extremely encouraged” by its performance in the months since the financial year ended. However, it added that it saw “significantly higher levels of cost inflation” over the first quarter of the year, driven by soaring energy prices following Russia’s invasion of Ukraine. The company also highlighted recent efforts to offer employment opportunities to disadvantaged young people through its UK Fuel Your Future scheme. Nando’s has donated nearly 50,000 meal vouchers and, since 2020, offered more than 150 apprenticeships, on top of placing more than 650 young people into full-time work through charity partnerships and the Kickstarter programme, it said.