Edinburgh Fringe festival unveils plans for new venue and HQ

The planned new base will be in the former South Bridge primary school, built in 1886, which is owned by the City of Edinburgh Council.

The statement prepared by LBA on behalf of The Fringe outlines the refurbishment of 6 Infirmary Street into a “multi-purpose venue and HQ for The Edinburgh Festival Fringe Society”. (Image: Google/LBA)

The application reads: “The redevelopment seeks to be financially sustainable through the incorporation of rentable spaces such as rehearsal rooms and co-working areas, that offer services not available locally.

“This strategic planning ensures that the Fringe Headquarters not only meets current needs but is also prepared to adapt to future demands so The Society can continue its historical significance and ensure its legacy within Edinburgh’s cultural landscape.”

Read the full story here

Distiller flags 'abrupt end' to spirits boom

Scotch whisky distiller Edrington, which produces The Macallan and Highland Park single malts, unveiled a 6% rise in underlying annual pre-tax profits to £411 million as core revenues jumped 11% to £1.165 billion.

Edrington employs about 3,300 people, with slightly more than half of its workforce based outside the UK (Image: Edrington)

Chief executive Scott McCroskie voiced his belief that Edrington’s results for the 12 months to March 31 were "among the best in the spirits industry". However, mulling the outlook, he highlighted his expectations that demand would be adversely affected by economic pressures seen in the second half of the financial year to March 2024.

Read Ian McConnell' story here

BUSINESS HQ MONTHLY 

'This will not be an easy year': Scotch whisky facing major headwinds

In the long and colourful history of Scotch whisky, there have been stratospheric highs and dispiriting lows. But the events of the past four and half years have surely been as tumultuous as any since legal distilling in Scotland began around 200 years ago.

Despite the upheaval, the industry appears to remain confident about its prospects for the future (Image: Diageo)

Brexit, Covid, supply-chain disruption, geopolitical tension and war have presented new challenges to distillers who had become accustomed to continuous growth around the world over the previous two decades.

The uncertainty continues, as elections take place in major economies and conflict rages in Ukraine and Gaza, adding complexity to the business of making Scotch and shipping it to markets around the world.

Read Scott Wright's article here

Open Championship is teed up for success but at what cost?

As golf enthusiasts look forward to The Open at Royal Troon, there is little clarity about the true costs of the prestigious tournament and its impact on the game’s general finances

Read Kristy Dorsey's article here 

The all-time record attendance of 290,000 was set at 150th Open at St Andrews in 2022 (Image: Getty Images)

While all involved are keen to talk about the economic benefits of hosting The Open, its organisers are far more cagey when it comes to discussing the costs of staging the oldest professional golf tournament in the world.

First played in 1860, the inaugural British Open was a relatively modest affair with eight golfers competing over three rounds at the 12-hole links course at Prestwick Golf Club in Ayrshire. There was no prize money on offer, and for many years The Open was not the sport’s most-followed event as challenge matches between top players drew larger crowds.