Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Business English Pub

Historic pubs are threatened by the energy crisis (photo by Mark Kerrison/In Pictures via Getty Images)

By Tyler Hummel Leaders Staff

Tyler Hummel

Tyler Hummel

Tyler Hummel is a news writer for Leaders Media. He was the Fall 2021 College Fix Fellow and Health Care...

Full bio


Learn about our editorial policy

Sep 8, 2022

British Pubs in Danger 

Some of Britain’s historic pubs may not survive the ongoing energy crisis. 

Key details
British pub culture is facing an existential threat due to skyrocketing energy costs and rent hikes. Landlords are experiencing energy increases of 500% to 600% and are passing those costs along to tenants. 

The average cost of a pint could increase from £4 (US$4.59) to £24 (US$27.52), Metro reports. 

“Once a pub closes it very rarely comes back,” says non-profit Campaign for Real Ale CEO Tom Stainer. 

“What you can say with surety is you can’t possibly pass on these energy increases and you can’t increase the pint by 500%. You’d be talking about pounds of pounds added on to the average cost per pint—and we already know because we did a survey this summer that more than 50% of the British public now believe the cost of a pint is already unaffordable.”

Why it’s important
Britain is being hit hard by the ongoing European energy crisis. As we previously reported, England and the rest of Europe are struggling with energy shortages due to the ongoing war in Ukraine. Household energy prices in the U.K. are predicted to be triple their typical rates this winter. England is also facing a crippling inflation crisis, with economists warning that the United Kingdom could be facing 22.4% inflation rates in 2023.

Pubs are just one area of the economy that is suffering, but the cost is coming at the expense of many of the oldest operating small businesses in the country. 

Ye Olde Fighting Cocks is a pub that opened in the year 793 and was forced into insolvency due to the effects of COVID. It is unsure if it will survive the winter.  

“It has… survived the English Civil War, 17 recessions, two World Wars, and five pandemics including the Black Death,” says Metro. 

As many as three-fourths of Britain’s pubs are at risk of closing this winter. 

Notable quote 
“Our energy bills so far are three times higher than in May of this year… Standing charges on our electricity have increased from 14p/day to around 40p/day. In real terms, it means we have gone from paying around £9,000 a year for electricity to over £25,000. It’s worth bearing in mind that this is just electricity. In terms of how it will impact our business, well who knows. It could quite literally be the difference between closing the pub and staying open,” says James Skinner, owner of the Rose and Crown pub in Bebington, Wirral.

Home / News / British Pubs in Danger 
Share
FacebookTweetEmailLinkedIn

Related Stories

BP Backs Away From Renewables

by Savannah Young Leaders Staff
Business

4 hours ago

“At the end of the day, we’re responding to what society wants,” says BP CEO Bernard Looney as the company shifts away from renewable energy to focus on gas and oil.

BP is slowing down on the switch to renewable energy as oil continues to be the main profit driver.

Key Details

  • BP said it's slowing down on renewable energy and focusing most of its spending on oil and gas production.
  • The company reported a record profit of $28 billion for 2022 as it capitalized on soaring energy costs leaning away from renewable energy.
  • “At the end of the day, we’re responding to what society wants,” says BP CEO Bernard Looney.

Go deeper

FacebookTweetEmailLinkedIn

Google Announces ChatGPT Rival 

by Tyler Hummel Leaders Staff
Tech

5 hours ago

Google

Alphabet CEO Sundar Pichai has revealed his company’s alternative to the revolutionary artificial intelligence (AI) chatbot ChatGPT—Bard.  

Key Details

  • Alphabet and Google have scrambled in the past few months to prepare their alternative to Microsoft and OpenAI’s ChatGPT AI chatbot. 
  • The company was put on the back foot by the success of Microsoft’s $10 billion investment in OpenAI, which threatens to turn Bing into the most cutting-edge search engine on the market. 
  • The Financial Times reports that the company has invested $300 million into a 10% stake in Anthropic, an AI research and safety company with its own AI model called Claude. 
  • In a Monday blog post, the company finally revealed Bard—a propriety chatbot being tested that will be integrated into Google’s search engine.

Go deeper

FacebookTweetEmailLinkedIn

Amazon Reaps Gains Of Media Investments

by Hannah Bryan Leaders Staff
Entertainment

6 hours ago

amazon prime

After several years of investing in high-budget movie and show content on its Amazon Prime platform, Amazon says the investment is beginning to pay off.

Key Details

  • Since 2020, Amazon has steadily increased its budget for original video and music content from $11 billion to $16.6 billion last year.
  • In a fourth-quarter earnings call, CFO Brian Olsavsky told investors that the high-budget content drew more subscribers to Amazon’s Prime services. 
  • Amazon’s total sales last year were around $289 billion, an enormous number compared to the amount spent on content last year. 

Go deeper

FacebookTweetEmailLinkedIn
Innovation

7 hours ago

The A.I. Battle Of the Giants

by Hannah Bryan Leaders Staff
Former FTX CEO Sam Bankman-Fried was the Democrat Party’s second-largest donor and now the company is asking for donations back
Cryptocurrency

24 hours ago

FTX Asks For Donations Back

by Savannah Young Leaders Staff
After continued downfalls in the cryptocurrency sector, policymakers in Washington, D.C., have turned hostile on crypto, and many fear an oncoming crypto crackdown
Cryptocurrency

24 hours ago

Washington’s Crypto Crackdown

by Savannah Young Leaders Staff

Recent Articles

Wealth

9 hours ago

How to Pay Sole Proprietorship Taxes and Avoid IRS Penalties

Sole proprietorship taxes include income taxes and self-employment taxes.

Entrepreneurs

Feb 6, 2023

Here’s a Step by Step Guide on How to Start a Podcast

Eliminate confusion, create a podcast in 15 detailed steps

Wealth

Feb 3, 2023

The Most Landlord-Friendly States in 2023

Invest in landlord-friendly states to make more profits

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com