UK’s Cornish Bakery issues record profits, a wake-up call – and a revelation

As the bakery-café chain slams the UK government over business rates, has it also hit on a fundamental hospitality market shift?

Cornish Bakery Founder and CEO Steve Grocutt didn’t mince his words when he roundly laid into the UK government’s hospitality strategy.

“This rates situation is a complete disaster… The current trajectory for our wider industry under this government is simply unsustainable. It does not need to be this way,” he wrote in a no-holds-barred press release.