50% of Fish & Chips Shops To Shut by 2025?

📰 Industry News

• Debenhams, rescued out of administration by Boohoo in 2021, has returned to profit for the first time despite its revenue being slashed by more than 50 per cent. (CityAM)

• The wealth management company St James’s Place will make about 500 jobs redundant as part of a £200m savings drive. (The Guardian)

• The UK government has been accused of undermining the foundations of the economy with its autumn budget after business confidence plunged to its lowest level since the early months of the Covid-19 pandemic. (The Guardian)

• The amount of Guinness pubs can buy in the build-up to Christmas has been limited after demand soared. The firm is said to be working at 100% production capacity but has still placed limits on orders in Great Britain. (BBC)

• European automotive titan and owner of Vauxhall, Stellantis, has announced the surprise resignation of its chief exec, Carlos Tavares, less than a week after announcing the end of operations at its key UK plant in Luton. (Business Live)

🐟🍟 Fish and Chip Shops Are Frying in the Cost Crisis 

Fish and chip shops are more than just a takeaway option - they’ve long been a staple of British life. But the £1.2 billion-a-year industry, with 10,500 outlets nationwide, is facing a crisis. Rising costs, inflation, and changing customer habits could close half of them by 2025.

• Generational Legacy: 62% of fish and chip shops are family-run businesses, with skills and traditions passed down through generations.

• Economic Impact: Serving 380 million meals annually (167 million of those fish and chips), the industry relies on 10% of the UK’s potato crop. Losing these businesses means more than empty high streets; it’s a hit to livelihoods and communities.

• No Longer a Bargain: With cod prices soaring, energy bills staying high, and a fish supper now costing £15 or more in some places, affordability is becoming a real issue.

What’s Driving the Crisis?

• Energy Bills: Despite some easing, electricity costs are still far above pre-crisis levels.

• Food Inflation: Poor potato harvests and global fish supply issues have pushed ingredient prices sky-high.

• Wage Pressures: Rising wages add further strain to already narrow profit margins.

Can Anything Save Them?

The National Federation of Fish Friers urges Brits to buy two extra portions yearly, arguing that small gestures can add up. However, with household budgets stretched, even loyal customers are cutting back.

Without action to address soaring costs, this cornerstone of British culture risks becoming a relic of the past.

📦 Yodel Hit By Festive Parcel Delivery Crisis

As the holiday shopping frenzy kicks off, Yodel - one of Britain’s parcel heavyweights - has found itself in a seasonal pickle. Faced with a capacity crisis, the courier has reportedly asked major clients like New Look, Gousto, and eBay to shift parcels elsewhere. Yes, really - encouraging customers to go to rivals. Bold strategy, Yodel.

Here’s the details:

• Driver Drama: Yodel blames rivals for luring away their contractually committed HGV drivers with financial incentives, leaving their transport schedules in tatters.

• Capacity Crunch: Record-breaking volumes and larger-than-usual parcels have overwhelmed their manual sorting facilities, creating delays across the network.

• Customer Fallout: Big clients like New Look, Gousto, and eBay are being urged to find alternative delivery services—a logistical nightmare during peak season.

• One Rocky Year: This isn’t Yodel’s first stumble in 2024. After nearly collapsing earlier this year and requiring emergency funding, this latest crisis underscores the fragility of the UK’s delivery infrastructure.

My Hot Take: Yodel’s troubles reveal a deeper issue in the UK’s logistics sector. Persistent HGV driver shortages, skyrocketing costs, and the growing demand for next-day delivery are putting unprecedented pressure on couriers. Yodel, which delivers over 190 million parcels annually, can’t afford to trip up during the festive period - yet here we are.

If customers don’t receive their Christmas orders on time, it won’t just be Yodel’s reputation taking a hit; retailers relying on their services will also bear the brunt of consumer frustration.

For now, Yodel says they’re working "tirelessly" to clear a backlog by the weekend. Fingers crossed, because Santa’s reputation is also at stake.

📺 From Licence to Subscription? The BBC’s Future in Focus

Big changes could be brewing at the Beeb. The government has announced plans to review how the BBC is funded, sparking questions about whether the decades-old £169.50 licence fee is still fit for purpose. With viewers switching to Netflix and live TV on the decline, the broadcaster’s financial future is in the spotlight.

Why now?

1. Licence Fee Faces Scrutiny
   A government review of the BBC’s Royal Charter will explore new funding models, from subscriptions to advertising. The licence fee is safe until 2027 - for now.

2. Money Woes Mounting
   Fewer households paying the fee means the BBC is struggling to keep up with inflation and fend off competition from streaming giants such as Netflix, Amazon Prime and others.

3. What’s at Stake
   The BBC employs 21,000 people and produces everything from Sherlock to the World News Service. The review promises to “modernise” funding - but at what cost?

What Could It Mean?

This is more than a debate about TV bills. The BBC is an iconic UK cultural institution, but can it stay relevant (and solvent) without the licence fee? Expect big conversations ahead and perhaps more bold moves the new Labour government - and plenty of opinions to match.

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