, Columnist
Britain Has Too Many Restaurants
The abundance of casual dining options bodes ill for the restaurant industry.
This article is for subscribers only.
Restaurant operators have been gorging themselves on the British appetite for dining and drinking. Get ready for the diet.
Since the U.K. emerged from recession, much of the extra income in consumer pockets has gone on eating out, rather than on buying stuff. With inflation outstripping wage growth, that spending on so-called "experiences" might be reined in too. Not a happy prospect for restaurant chains in the crowded "casual-dining" market, nor the private equity groups that back many of them.