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ZERO – Net UK restaurant openings
Pub company Mitchells & Butlers (MAB) says net restaurant openings across the industry were flat over the last year, easing competitive pressure in the dining market.
That compares to 1,700 new restaurants, net of closures, opened in the year to June 2015, according to chief executive Phil Urban. Cost pressures because of a July 2015 increase in the minimum wage is the main reason for the slowdown in the sector and Urban says the new sector dynamic may help the operator of chains including Toby Carvery win back back market share.