Trade associations are even better journalistic sources than talkative taxi drivers. If you want to know what’s happening in the economy of physical goods, consult a conclave of forklift truck operators; for a barometer of optimism among middle-class homeowners, mingle with managers of the nation’s garden centres. And if you want to feel the true pulse of discretionary spending, try suppliers of catering equipment. Invited to address a meeting of the latter on the inevitable topic (‘How the hell did we get into this Brexit mess?’ was my brief), I’m certain I learned more from them than they did from me.
‘Crisis in casual dining’ makes a less eye-catching headline that ‘bloodbath on the high street’ but the problems afflicting chain restaurants are almost as acute as those of retailers such as Debenhams. First came a post-recession surfeit of new eateries, fuelled by private equity competing to back scalable formats.
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