Sad news for foodies in Wales! Whitbread, the owner of Beefeater and Brewer’s Fayre, has announced the closure of several restaurants across the country. This decision comes as part of a major shake-up to tackle rising business costs like rates and national insurance. The move is also part of a five-year plan to save £250 million and transform their restaurants to a new model that’s more efficient and hotel-guest friendly.
The Welsh locations saying goodbye include:
– Beefeater: Cardiff’s Coach and Horses, Walston Castle; Llantrisant’s The Longbow; Newport’s The Coldra; Port Talbot’s Bagle Brook; and Swansea’s The Waterfront.
– Brewer’s Fayre: Swansea Vale, Aberdare, Llanelli, Ebbw Vale, and Abergavenny.
The plan involves not just closures, but selling £1.5 billion worth of their freehold properties and cutting around 3,800 jobs across the UK and Ireland. However, they hope many of those affected can find new roles within the company.
Despite these changes, Whitbread aims to expand, with plans to boost their hotel room stock to 96,000 by 2031. The company recently reported a profit dip to £298 million, marking a 19% decline from the previous year.
It’s a challenging time for the hospitality giant as the industry navigates significant financial pressures. What do you think about these changes? Let us know your thoughts!