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Glasgow Times
a day ago
- Business
- Glasgow Times
Mikaku in Glasgow city centre to close doors after seven years
Mikaku, a much-loved Japanese bar and restaurant on Queen Street, will shut on September 14, 2025. Known for its immersive 'slice of Tokyo' experience and colourful interiors, Mikaku opened in 2018 and welcomed thousands of guests through its doors. (Image: Image: Newsquest) The decision comes as the team behind Mikaku has decided to shift focus to their next chapter – the launch of Clydeside Containers. The Clydeside Containers will be a new riverside street food and drink destination opening on Glasgow's waterfront. Nathan Sparling, director of Mikaku, said: 'Closing Mikaku was not an easy decision. "It has been a truly special place for both our team and our guests, and we are incredibly proud of what Mikaku has achieved. From celebrating Ramen Week with £1 bowls, to launching one of Glasgow's most innovative cocktail menus, to introducing a real Robata Grill to the city for the first time – Mikaku has been about bringing something bold, different, and authentic to Queen Street, seven days a week. The memories created here, and the community that has grown around it, will always be a huge source of pride. "But like so many venues in Glasgow and across the UK, we've faced the well-documented challenges in hospitality – from rising costs and staffing pressures, to shifts in consumer behaviour. The recent rise in National Insurance contributions has added even more pressure, strangling independent operators like us at a time when the sector is still recovering. These wider challenges have been a significant factor in the decision to close, allowing us to refocus our efforts and resources on the exciting opportunity ahead at Clydeside Containers.' (Image: Image: Newsquest) It comes after Nathan told the Glasgow Times back in April this year, that he only had 30 days to try and save his business as it faces "unsustainable pressures". He said skyrocketing costs, unreliable public transport, city centre parking issues and the Employer National Insurance rise have piled on and are affecting restaurants across the city. Nathan also said that Mikaku had to put prices up in the last year because of rising supplier costs. He said changes like the LEZ has meant suppliers had to change their vehicles in order to be compliant with the cost being passed onto the customer. READ NEXT: Iconic TV quiz trio announce Glasgow show as part of 2026 reunion tour Mikaku will adjust its opening hours for the final weeks of service. From August 20, the restaurant will open Wednesday to Sunday, before moving to a Thursday to Sunday schedule from August 28 until the final day of service on September 14.
Scottish Sun
11-08-2025
- Business
- Scottish Sun
Supermarket giant WILL hike prices across UK stores following Rachel Reeves' tax raid in big U-turn
We reveal which other retailers have warned of price rises TAXING TIMES Supermarket giant WILL hike prices across UK stores following Rachel Reeves' tax raid in big U-turn Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR supermarket chain has said food prices will have to rise over the next six months following the Government's Autumn Budget. In recently published accounts, Iceland blamed Rachel Reeves' tax raid for hiking its suppliers' costs. Sign up for Scottish Sun newsletter Sign up 1 Iceland has said it will have to increase prices across stores by up to 5% Credit: Getty Employer National Insurance contributions and the national minimum wage rose in April, with some suppliers passing these added cost onto supermarkets. It comes after Iceland's boss Richard Walker told the Telegraph in January companies should stop "wallowing" and complaining about the measures announced in the Budget. Iceland said it was "doing our utmost" to offset rising costs caused by suppliers, but would "inevitably have to pass some of these on to consumers, where we can do so without weakening our own price position in the marketplace". It added: "In consequence, we expect UK food price inflation to peak at some 4-5% in the next six months." The warning comes after the Bank of England (BoE) estimated food prices will rise to around 5.5% by the end of the year. The central bank said food inflation was surging due to increased business labour costs and obligations on retailers to reduce packaging waste. Swathes of retailers and chains have increased the price of products or warned of future hikes after the Government's Autumn Budget. Employer National Insurance contributions were bumped up from 13.8% to 15% and the threshold at which they are paid lowered from £9,100 to £5,000 in April. The national minimum wage was also increased to £12.21. But the hikes have piled pressure on retailers, with some saying they have to pass the added costs onto customers. Four ways to save money on your weekly shop in Iceland The British Retail Consortium (BRC), which represents retailers, cautioned in July prices will keep rising. Helen Dickinson, its boss, exclusively told The Sun last month: "Retailers are doing everything they can to shield consumers from the worst of the inflationary pressures. 'However, with £7billion in additional costs from the last Budget still filtering through, rising inflation is becoming inevitable." She warned that if the Government loaded more costs onto the retail sector at this year's Autumn Budget, food inflation could rise even more with "hardworking families" having to pay higher prices at the tills. Two-thirds of 52 leading retailers surveyed by the BRC in January said they were considering raising prices due to the Government's tax raid. Which retailers have warned of price hikes? The boss of M&S said the supermarket would have to pass on extra costs due to the National Insurance and minimum wage hikes. Stuart Machin said any price rises would be 'small and behind the market' but did not say how much they would go up by. Meanwhile, Sainsbury's warned the Budget would cost it an extra £140million. Its CEO Simon Roberts warned that the chain would need to work with its suppliers to minimise the impact on customers. Next also warned its costs would increase by £67million, some of which would need to be passed on to shoppers. It warned that sales growth would pull back sharply until the end of 2025, 'as employer tax increases, and their potential impact on prices and employment, begin to filter through in the economy'. RETAIL PAIN IN 2025 Chief consumer reporter James Flanders explains what could happen to retailers this year. The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." It comes after almost 170,000 retail workers lost their jobs in 2024. End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker. It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date. This was up 49,990 – an increase of 41.9% – compared with 2023. It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns. The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker. Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020." Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Yahoo
29-07-2025
- Business
- Yahoo
SME Construction data casts doubt on UK ability to hit 1.5 million homes
The number of struggling construction firms has risen further despite heavy pressure on the sector to deliver hundreds of thousands of new homes. The number of firms in critical distress – a measure of firms nearing bankruptcy – rose 15.8 per cent in the second quarter of 2025, according to Begbies Traynor, while the number of construction firms in critical and significant financial distress topped charts in the first quarter, at 6,830 and 97,603 firms respectively. 'SMEs are grappling with a range of cost pressures, including strict environmental regulations and burdensome taxes on employers. These cost pressures are making it increasingly harder – not easier – to build,' Steven Mulholland, CEO of the Construction Plant-hire Association (CPA), said. The industry was the slowest growing sector of the UK economy in the first quarter of 2025, and total construction output stagnated in this period – ending three consecutive quarters of growth as activity across real estate softened. 'Employer National Insurance hikes have already hit jobs and investment. Now, looming changes to Business Property Relief risk being the final blow – threatening 200,000 jobs and £15 billion to the economy, and punishing the very firms Britain needs to deliver growth, infrastructure and homes,' Mulholland added. 'Without urgent reform, we won't just miss housing targets – we'll lose the wider supply chain capable of building the vital infrastructure Britain needs,' he said. Construction firms in 'a difficult position' Kelly Boorman, National Head of Construction at RSM UK, has warned that the combination of high financial distress in the industry and the government's housing push puts the sector in a tough place. The government has pledged billions to support housebuilders, something which has been largely helped by the industry, but Boorman warned business could fall into an 'overtrading trap'. 'There's the risk [they]… take on more work than their supply chains and operational capacity can support,' Boorman said. 'Mandatory housing targets and expectations to commit to large infrastructure projects could result in businesses being unable to meet demand, despite the government's commitment to investment, training and pipeline visibility,' she added. Experts have warned that there are still significant planning and delivery challenges that developers are facing alongside cost pressures, including skills shortages – despite recent investments – wage inflation, raw materials shortages and inflation.
Business News Wales
11-07-2025
- Business
- Business News Wales
Retailers 'Need Support to Deliver Investment into Welsh Stores'
The Welsh Retail Consortium is calling for more support for the sector as footfall figures fell in June. The organisation said that rises in the National Living Wage and Employer National Insurance had contributed to a 'hammering' for the retail sector, adding that retailers needed support to deliver investment into stores. It said it wanted to see a positive outcome to business rates reform in Wales to avoid an even higher tax burden for retail. According to WRC-Sensormatic data, Welsh footfall decreased by 3.3% in June (YoY), down from -0.4% in May. Shopping centre footfall decreased by 5.1% in June (YoY), up from -5.4% in May. Retail park footfall decreased by 0.7% in June (YoY), down from 1.2% in May. In June, footfall in Cardiff decreased by 4.0% (YoY), down from -2.1% in May. Sara Jones, Head of the Welsh Retail Consortium, said: 'June footfall figures failed to ignite a summer shopping renaissance, with numbers down across all retail destinations. Shopping centres across Wales were hit particularly badly by the decline in footfall, with a notable fall of 5.1%. 'With July seeing Wales' women's football team in action in the Euros, and with big name concerts and events across the capital and Welsh cities and towns, retailers will be hoping that last month's figures will be buoyed up by a return to our high streets. 'Whilst retailers are working hard to deliver vibrant, engaging shopping experiences that attract customers and boost footfall, they can't sail a solo recovery to help boost the Welsh economy. Given the hammering the industry has taken over recent months, with increased business rates and hikes to Employer National Insurance and the National Living Wage, the Welsh Government should consider what more can be done to boost the sector and support retailers to deliver investment back into Welsh stores. All eyes are now on the plans for Welsh business rates reform and ensuring this doesn't further dampen retailer confidence and lead to a higher tax burden over the next 12 months.' Andy Sumpter, Retail Consultant EMEA for Sensormatic Solutions, said: 'June delivered heatwaves, storms, and what could be the hottest June on record – but even the sunshine wasn't enough to spark a retail revival. Total UK footfall was down -1.8% year-on-year, a gentler drop than the -2.3% seen in June 2024, but still a decline on last year's decline. Wales saw a steeper decline of -3.3%, reflecting the broader regional challenges. UK High Streets fell -3.0%, while Retail Parks and Shopping Centres dipped -1.1% and -1.6% respectively. 'One year on from the General Election, with footfall still in the red, it appears that consumer confidence has yet to find its feet. That said, the rate of decline at a UK level is easing, and with summer now in full swing, retailers have an opportunity to turn seasonal footfall into sustained momentum – especially those who can deliver value, experience, and convenience in equal measure.'
Fashion United
01-07-2025
- Business
- Fashion United
UK: Non-food remains in deflation as prices rise elsewhere
Over the period June 1 to 7, shop prices returned to inflation as costs imposed by last autumn's Budget began to kick in. Overall inflation rose to 0.4 percent year-on-year in June, against a decline of -0.1 percent in May. This also came above the three-month average of 0.1 percent, according to the British Retail Consortium (BRC). Food inflation drove the increase, rising 3.7 percent YoY. This contrasted non-food prices, which remained in deflation at -1.2 percent, reflecting a marginal increase on May's -1.5 percent. The figure came above the three-month average of -1.4 percent. In a statement, Helen Dickinson, chief executive of the BRC, said non-food goods 'remained in deflation as retailers cut prices across product categories, especially DIY and gardening, so customers could make the most of the sunshine.' Dickinson added: 'Retailers have warned of higher prices for consumers since last year's Autumn Budget and the huge rises to Employer National Insurance costs and the National Living Wage. 'We predicted a significant rise in food inflation by the end of this year, and this has been accelerated by geopolitical tensions and impacts of climate change. To limit further rises, the government must find ways to alleviate the cost pressures bearing down on retailers. The upcoming business rates reform offers such an opportunity, and the government must ensure no shop pays more as a result of the changes.'
