More than 400 pubs closed in 2024 – as number of UK boozers reaches all-time low
MORE than 400 pubs called last orders this year as the total number of boozers reached an all-time low.
Some 412 in England and Wales — around 34 a month — shut and were demolished or converted into homes, offices and nurseries.
That was a rise of 6.7 per cent compared to the previous year and the sharpest fall in numbers since 2021, when 444 pubs closed their doors.
A total of 2,074 pubs have gone in the past five years, analysis by the commercial real estate experts Altus Group found.
The overall number of boozers in England and Wales, including those vacant and offered to let, fell to a low of 38,989 according to Valuation Office Agency statistics.
Three years ago the hospitality sector was hit by Covid lockdowns and soaring energy prices.
This year rising costs and cautious spending has also hit the sector.
The British Beer and Pub Association reckons pubs face an additional £71million bill from April when employer National Insurance Contributions rise to 15 per cent.
And Altus calculates the reduction in the level of business rates discount from 75 to 40 per cent will cost £215million.
Alex Probyn, of Altus, said: “Many publicans I speak to are extremely worried this could be their last Christmas given the combination of hiking the amount employers will have to pay in National Insurance, increases to the minimum wage and the business rates discount being slashed.
“Many pubs simply will no longer be viable, making plots even more attractive for alternative investment.”
London lost the greatest number of pubs last year, down 55 to 3,470.
The West Midlands lost 53, down to 3,851, while 47 disappeared in the East Mids, leaving 3,496.
VEND IT LIKE BECKHAM
DAVID Beckham’s media, fashion and sports empire more than doubled its profit to £29million last year, new figures show.
The ex-England skipper’s business accounts reported 2023 pre-tax profit was well up from £13million in 2022.
Becks, who retired from football in 2013, saw his Seven Global licensing and commercialisation arm cash in from deals with Adidas, Tudor, Safilo Eyewear and Coty.
His media production business Studio 99 Group saw revenues grow to £11.9million boosted by his Netflix documentary with wife Victoria.
A follow-up show is due next year.
David and Victoria’s overall business enterprises made more than £160million of sales last year. Sales at Victoria’s fashion and beauty business jumped by 52 per cent to £89million.
ON SCENT OF A FESTIVE BOOM
THE festive season helped boost sales at The Perfume Shop.
The retailer sold 2million bottles of fragrance in the four weeks to Christmas Day, with a 54 per cent rise in online gift set sales during the final week.
Personalised presents were a hit with more than 300,000 ribbons and 8,000 engraved perfumes flogged.
Dior Sauvage and Chanel Coco Mademoiselle were top hits.
Boss Gill Smith said: “2024 was a record-breaking year.”
The chain opened eight stores and modernised 32 in the UK and Ireland.
WE’RE HONOURED
SEVERAL top business chiefs have been knighted in the New Year Honours list.
Noel Quinn, HSBC boss from 2019 until September, got his for services to finance and Net Zero. Warren East, at Rolls-Royce between 2015 and 2022, was rewarded for his services to the economy and Net Zero.
And Andrew Haines, 60, chief exec of Network Rail, was knighted for services to transport and the economy.
Chanel’s Leena Nair got a CBE, as did Poppy Gustafsson, 42, co-founder of British tech security giant Darktrace.
NATIONAL GRAND
THE Grand National was the biggest global betting event of the year, according to Entain.
The owner of Coral, Ladbrokes and Sportingbet said more wagers were placed on the race than the Super Bowl or Euro 2024 final.
Eighty per cent of cash bets on the race in the UK were for £5 or less.
Fewer than one per cent were more than £20.
Overall, the biggest draw for recreational punters in 2024 was England’s run to the Euros final, with their games making five of the top ten most-betted on sports events.
CHECKING FOR UK’S ROOFERS
CHECKATRADE has introduced strict new rules for roofers in an attempt to crack down on rogue traders.
It warned roofing is one of the least regulated trades, allowing unqualified people to enter the market.
The group also pointed out customers struggle to assess the quality of the work, especially for repairs or installations that are not easily visible.
Roofers hoping to join the platform in future will need proof of a minimum six-month incorporation and trading history, with more measures set to come in the New Year.
Meanwhile the site said it is re-vetting thousands.
Boss Jambu Palaniappan, said: “The impact of rogue tradespeople is far-reaching and deeply troubling.
“Nearly three in five people in the UK have encountered a rogue tradesperson at some point in the past year, underscoring the widespread nature of this issue.”
STOKING UP PRICE
HOUSE prices in Stoke-on-Trent had the biggest growth in the UK this year, as buyers sought more affordable areas.
Prices in the Staffs town rose 17.2 per cent to an average £227,002 in the year to September 2024, said Halifax bank.
But London boroughs saw average values fall by up to 5 per cent, while Huddersfield saw prices slump 6.6 per cent.
The South East had the slowest price growth at 1.8 per cent, while Northern Ireland was top of the table with 10.6 per cent.