Majestic freezes prices for pubs, restaurants and bars
Wine retailer Majestic has frozen prices for pubs, bars and restaurants until at least the spring as rising costs continue to put pressure on the hospitality sector.
The hospitality industry is facing a key winter period amid surges in energy costs, pressure on consumer budgets and other disruptions such as industrial action.
Majestic, which serves thousands of venues through its commercial business, has pledged to freeze on-trade prices until April 2023 in an effort to combat uncertainty for business customers.
Majestic chief operating officer Robert Cooke said: “We are delighted to be able to offer frozen prices for this extended period of time, until Spring 2023, to help support our on-trade partners throughout what will be a difficult winter season.
“With a wealth of wine expertise across the Majestic business, Majestic Commercial is already helping thousands of independent pubs, bars, and restaurants around the UK level up their wine offerings – and this price freeze will help even more do so.”
It comes after the Office for National Statistics reported that food and drink inflation lifted to 16.4% in October.
Majestic also said it is offering customers the chance to win £1,000 by recommending their favourite pub to link up with the wine retailer this winter.
It comes months after the wine business, which was bought by private equity firm Fortress for £95 million in 2019, said it is targeting a wish-list of 76 potential store locations across the UK.
The retailer currently operates 201 shops across the UK.Published: by Radio NewsHub