Pubs say Euros failed to lift worsening trade: 6 need-to-know business stories

Hello and welcome to our daily digest of business, financial and economic news from around Scotland.
1. Almost two thirds of Scottish pubs have said trading is poorer than last year — despite the football-related uplift of Euro 2024.
Sixty-two per cent of businesses surveyed told the Scottish Licensed Trade Association that, so far, 2024 had been worse than last year.
They said customers were generally spending less and leaving earlier, and that their costs had continued to rise.
Fifty-eight per cent believe the downturn is likely to last throughout the year, while only 52 per cent have maintained their opening hours.
The Market Insights survey has been running for a decade and takes in responses from outlets throughout the nation.
Colin Wilkinson, the SLTA managing director, called on the UK government to cut VAT at the October budget and said: “Our report identifies that 64 per cent of respondents highlighted less spend, fewer visits and less time spent in the venue.”
2. An academic has called on Scotland’s policymakers to shake off negativity surrounding the future of town centres.
Professor Leigh Sparks, who is based at the University of Stirling and is also chairman of Scotland’s Towns Partnership (STP), believes too much time has been spent trying to revive the past rather than trying to seize future opportunities.
Sparks was speaking as the STP backed Scotland Loves Local week, which encourages local spending and community initiatives, starts today.
He said: “The town centre narrative is all too often negative. But it does not need to be. There are real opportunities we can take to resolve the issues we face and reinvent our town centres.
“No one can deny there are challenges as our economy and society changes.
“Our town centres can, though, become places which are home to all manner of businesses and attractions as well as, crucially, being places where increasing numbers of people live.”
3. Cruden has started work on a £17.5 million social housing contract.
The builder has been picked by Midlothian council to deliver a mix of 75 flats and houses in Newbyres, in Gorebridge.
Cruden said the development will be heated by air-source heat pumps and insulation to make them as energy-efficient as possible.
Fraser Lynes, managing director of Cruden, said: “Scotland is facing a well-documented housing emergency, and Newbyres will make an important contribution to alleviating the need for high quality affordable housing in Midlothian.”
4. Isle of Barra Distillers has expanded its supermarket listings.
The island firm’s Atlantic Gin and Hebridean Vodka are to be stocked in Sainsbury’s stores across Scotland.
The company recently expanded in Waitrose, with the gin now being sold in 209 outlets around the UK, up from 127 previously.
The husband and wife team of Katie and Michael Morrison founded the business in 2017.
This year it raised £1.1 million through a share offer with the proceeds used to expand facilities as well as begin work on a new single-malt whisky and gin distillery.
5. A cookie bakery has extended its tenancy at the Bonnie & Wild food hall in the St James Quarter, Edinburgh.
Chulo’s Stuffed Cookies ran a pop-up trial in February and then had a temporary residence this summer.
Now they have taken up a concession on a long-term tenancy agreement.
Jordan Rankin, who founded Chulo’s with his partner, Rebecca Paterson, in 2021, said the business has expanded its team in recent months to cope with its growth.
He said: “It’s been an incredible journey since we first started trading at farmer’s markets and food fairs only a few years ago.”
Ryan Barrie, Bonnie & Wild’s managing director, said: “It’s a fantastic success story for a young Scottish food business.”
6. Shepherd and Wedderburn has expanded its employment team by adding two partners.
Tricia Walker and Andrew Knight both move from Burness Paull, having worked together for more than a decade.
The pair will be based in Shepherd and Wedderburn’s Aberdeen office.
Andrew Blain, the managing partner of the firm, said: “This latest investment in our Aberdeen presence underscores our commitment to our clients in the northeast.”