Business
Eden Project’s losses more than double as visitor numbers fall
The Eden Project has revealed tumbling visitor numbers and losses more than doubling after a difficult year that saw the attraction axe jobs.
The Cornish ecological centre reported a 10% drop in visitors in the year to March 31, to 543,000 compared with 604,000 the previous year, as it faced “more challenging trading conditions in South West tourism”.
The group slumped deeper into the red with pre-tax losses of £3.5 million, against losses of £1.5 million the previous year, according to the latest set of filed accounts.
It said it carried out a “major restructuring”, which led to 75 jobs being cut.
“The purpose of this was to implement some operating efficiencies and to reduce employment costs,” the group said.
The firm, whose attraction is based near St Austell in Cornwall, warned over job cuts in January as it looked to cut its wage bill by around 20%.
In its latest accounts, it flagged the “general inflationary impact of the UK Government budget 2024 and specifically the increase in the costs of national insurance contributions from April”.
The Eden Project in Cornwall is famed for its bubble-like structures and giant domes that house thousands of plant species.
It was designed by architect Sir Nicholas Grimshaw, who died earlier this month at the age of 85.
Despite the tough year for trading, the Eden Project said that for many, it is “seen as a ‘must visit’ location as well as ‘doing something new/out of the ordinary’”.
“Therefore, as in previous years, we saw a large proportion of first-time visitors along with welcoming back seasoned visitors,” it added.
The group said restructuring efforts have helped put the business on a more stable footing for the year ahead.
Andy Jasper, chief executive of Eden Project, said: “Proactive measures we took in 2024-2025 enabled us to stabilise our business through restructuring and control of costs.”
As it heads into its 25th year, he said 2026 will be “pivotal” for the group as it also looks to make the “long-awaited” start to construction of its new eco attraction, Eden Project Morecambe in Lancashire, which is expected to open in 2028.
Many in the UK who unwrapped a new drone this Christmas may face a rude awakening next week, when they will have to take a theory test before being allowed to fly outdoors.
From 1 January, those intending to fly drones or model aircraft weighing 100g or more outside must complete a Civil Aviation Authority (CCA) online theory test to get a Flyer ID – something previously only needed for heavier drones.
The regulator believes up to half a million people in the UK may be impacted by its new requirements.
CAA spokesperson Jonathan Nicholson said with drones becoming a “common Christmas present” it was important people knew how to comply with the law.
“With the new drone rules coming into force this week, all drone users must register, get a Flyer ID and follow the regulations,” he said.
“We want people to enjoy their drones but it’s vital that they have checked the new rules and know how and where to operate their drone safely before they fly.”
The CAA’s requirements are based on the weight or class of drones and model aircraft.
Where previously a Flyer ID was only required for devices weighing 250g or more, it will soon be required to fly a drone weighing 100g or more outdoors.
In addition to completing a theory test to obtain a five year Flyer ID license, those who own a drone weighing 100g or more with a camera must also register with the CAA to get an Operator ID.
According to the CAA, the new rules are designed to be easier to understand, as well as allow for “safe expansion” of drones across the UK.
Its requirements also apply to children, but vary for different age groups.
Children under the age of 13 must obtain a Flyer ID and have a parent or guardian present when completing the free flyer theory test to get one.
Meanwhile those aged 12 or younger must be supervised by someone over 16 to fly drones, with parents also required to obtain an Operator ID.
The CAA also wants existing drone owners and ID holders to acquaint themselves with the rules, which sets out where drones should not be flown and how to protect peoples’ privacy when piloting those equipped with cameras.
It says flying a drone or model aircraft without necessary IDs is against the law, and punishable by fines or, in severe cases, with prison sentences.
But Dr Alan McKenna, a law lecturer at the University of Kent, said effective enforcement would likely be “a case of resources”.
He told the BBC while he believed most people would seek to abide by new UK requirements for flying drones outdoors, some may look to “fly under the radar”.
“You’re always going to get people who make mistakes or can’t be bothered,” Dr McKenna said – adding concerns about the impact of rising drone use on the environment, privacy and safety were “wider issues” at play.
Sol HydeWith rising rents, a tough job market and pay cheques stretched to the limit, some young Britons are choosing to build their futures overseas.
According to the Office for National Statistics (ONS), 195,000 people under the age of 35 moved abroad in the year to June.
So where are they going, what are they doing – and will they ever come home?
‘It feels much safer in Tokyo’
Ray AmjadWhen Ray Amjad graduated from the University of Cambridge a few years ago, he thought about staying in the historic city, but his head was soon turned.
The 25-year-old, from Manchester, travelled to 20 different countries, working remotely in web design, and realised he could no longer see himself living back in the UK.
He moved to Tokyo last year under a two-year visa for top graduates and hopes to apply for permanent residency there in the future.
“In my experience, the UK is losing too many talented young people,” he says.
“Japan is getting a good deal, really – we’re moving out here, fully formed, and they haven’t had to pay for our education or healthcare, growing up.”
Ray AmjadRay’s university friends have moved to Australia, South Korea and Hong Kong, with many citing the cost of living in the UK and lack of employment opportunities as factors.
“Here in Tokyo, it used to be much older people who moved out here to work, but that has changed recently,” he says.
“It feels much safer here. I can walk around and not worry about my phone being stolen. I can leave my laptop in a cafe for a while and it’s still going to be there.
“And the flat I’m renting would be three times the price in London.”
‘People dream big in Dubai’
Isobel PerlIsobel Perl started her own skincare brand from her parents’ house in Watford five years ago.
Now 30, she has decided to move to Dubai in the new year and hopes to expand her business into the United Arab Emirates (UAE).
“My sister moved to Dubai a few years ago and my parents have decided to move too, so it just makes sense,” she says.
“Sun all year round is a huge reason for me. It’s an expensive place to live but I won’t have to pay income tax.”
Isobel was among the first cohort to get one of 10,000 golden visas for content creators, which allow 10 years of residency.
Most people moving to Dubai have big ambitions and dreams, Isobel says.
“That energy is so important to be around. There is a thriving business community and it’s a very inspiring place to be.”
Isobel PerlIsobel plans to still manufacture her skincare products in the UK but will run things from Dubai and hopes in the future she can import her products and sell them in the UAE.
In January, she has to rebrand from PERL Cosmetics to Isobel Perl due to a trademark objection from another firm, leaving her with £500,000-worth of stock to clear before the end of the year.
“I have had to reduce the prices and it’s a huge financial blow,” she says.
“I really need a new start. I’m going into the new year with hopeful energy.”
She says she will miss her friends, her horse and countryside walks.
“But I’m only a seven-hour flight away,” she adds.
‘Business-friendly environment’
Three-quarters of British nationals who emigrated in the year ending June 2025 were under the age of 35, according to the ONS.
But it has recently changed how it estimates British migration, so it is difficult to compare to previous years.
An ONS spokesperson said the data was not surprising because most migrants tended to be young.
David Little, financial planning partner at UK wealth manager Evelyn Partners, believes young people are choosing to work abroad due to the “increasingly negative economic narrative in the UK”, of high unemployment, rising debt and tax burdens, and fewer graduate vacancies.
Dubai, in particular, has transformed into a global career hub, attracting thousands of British workers with tax-free salaries, low crime rates and booming job market, he says.
“Destinations like the UAE offer tax-free living, a ‘can-do’ attitude, and a business-friendly environment that feels far more optimistic and rewarding,” he says.
“Interestingly, instead of the traditional ‘Bank of Mum and Dad’ helping with a first home deposit, families are now supporting children with the costs of emigration and settling abroad.”
‘My corporate job was making me miserable’
Sol HydeSol Hyde, from Colchester, says he jumped on a plane as soon as his online business started making money.
“The same is true for almost every UK entrepreneur I know,” he adds.
The 25-year-old quit his corporate job last October, after realising it was making him miserable.
“I was waking up to darkness and cold. It was quite a lonely existence because all my friends were working so hard,” he says.
“I had no idea what to do but I just knew I needed to get out.”
Sol HydeIn January, he started his marketing consulting firm, which helps businesses grow on social media.
Sol has spent most of this year in Bali but thinks he might end up in Cape Town, South Africa.
“I wake up to the sun and jump on my motorbike to my run club,” he says.
“I meet 30 other young people building businesses and we get a coffee together. I co-work with friends all day and then we go out in the evening.”
The hardest part has been leaving his friends and family behind, he says.
“But when I had a corporate job, I didn’t see them because I was working so hard. Now I am closer to them because we actually speak more.”
He believes the UK suffers from “tall poppy syndrome” – where successful people are resented – and a negative culture.
“Success is met with criticism, rumour-spreading and general hate,” he says.
Sol currently has six employees and is taking on four more. But he believes the tax system in the UK would have inhibited his growth and ability to take risks.
“This is a medium-term solution for me, ” he says.
“I love the UK and I’m not ruling out coming back when I’m in a better financial position, but right now I’m so glad I left.”
Sol HydeA Department for Work and Pensions spokesperson said the Budget doubled down on its work to grow the economy and create good jobs by maintaining the cap on corporation tax at 25%, supporting high streets with permanently lower tax rates and making it easier for start-ups to scale and invest in the UK.
“Every young person deserves a fair chance to succeed and when given the right support and opportunities, they will grasp them,” they said.
“This government is supporting entrepreneurs to thrive – they are a key theme of our small business strategy to drive economic growth across the country – and with an 87% employment rate, graduates remain more likely to be in work than those without a degree.”
Britain’s high streets have endured a difficult year, as numerous major retail and hospitality brands closed stores, with some long-standing mainstays shutting down permanently.
This trend emerged against a backdrop of strained consumer finances, persistent inflation throughout much of the year, and escalating operational costs for businesses.
Consequently, many firms initiated restructuring efforts or entered administration.
Here are some of the major brands with closed sites across this year:
– Poundland
Poundland is among chains to have suffered over the year from pressure on shoppers despite its value proposition.
The group was sold for £1 as a result and launched a major restructuring plan.
This involved the initial closure of 57 stores in a move which put more than 1,000 jobs at risk.
The company, which was bought by investment firm Gordon Brothers, has since announced further tranches of closures and is set to have shut more than 100 sites by the start of 2026, as part of efforts to trim its estate from around 800 sites to between 650 and 700 shops.
– WH Smith
WH Smith had been a stalwart of UK high streets since its first store opened in 1792, selling everything from crime fiction to confectionery.
However, the brand disappeared from the high street after the group sold off all its UK high street retail shops to private equity company Modella Capital to focus on its travel locations, where it will still operate under the brand.
As a result, Modella revealed plans to rebrand the chain as TGJones.
As it pushed forward with efforts to sell off the high street arm, the group pushed forward with the closure of 20 stores.
– Claire’s
The UK arm of fashion accessories business Claire’s tumbled into administration this year after its US owner entered bankruptcy.
Modella Capital once again appeared in the picture, striking a deal to save 156 stores.
However, 145 shops – employing around 1,000 workers – were not part of the deal and closed as a result.
– Pizza Hut
In October, Pizza Hut confirmed that 68 of the brand’s UK restaurants would shut after the business running its franchise in the country entered administration.
It also shut 11 delivery sites as part of a restructuring which put 1,210 workers at risk of redundancy.
DC London Pie, the firm running Pizza Hut’s UK dine-in restaurants, appointed administrators after being impacted by a slowdown in the sector.
American hospitality giant Yum! Brands, which owns the global Pizza Hut business, bought the remaining UK restaurant operation in a rescue deal, saving 64 sites.
– Bodycare
Bodycare was among the brands to disappear from UK high streets for good after it shut all its roughly 150 stores.
The retailer was founded in 1970 in Lancashire and sold beauty products, fragrances and other bathroom items.
It employed as many as 1,000 people early this year but came under pressure from rising costs and a shortfall in funding, which also affected supplier relationships and led to stock shortages.
– Quiz Clothing
Fashion chain Quiz shut 23 of its stores after entering administration in February, in a move which hit around 200 workers.
It closed the shops despite being bought in a pre-pack administration deal by a subsidiary of the founding Ramzan family.
Quiz had started the year searching for emergency funding but fell into insolvency after failing to secure a deal.
– Leon
Leon is closing around 20 of its restaurants after launching a major restructuring in December.
The company said it will shut the doors of the worst-performing of its 71 stores.
It came after the group was bought back by co-founder John Vincent from supermarket group Asda.
– Select Fashion
Select Fashion was another chain to cease trading in 2025, after the womenswear business came under pressure from growing losses.
The business closed all its roughly 80 stores earlier this year and entered liquidation after failing to find a buyer.
– Homebase
Home improvement firm Homebase shut 65 shops between January and March after falling into administration late in 2024.
Retail group CDS, run by The Range owner Chris Dawson, snapped up the brand but was unable to save all its stores.
Bosses at Homebase have said recent years were “incredibly challenging” for DIY stores, blaming “a decline in consumer confidence and spending” after the pandemic.
– New Look
Elsewhere in retail, high street fashion chain New Look shut 15 of its stores in the UK over the year.
The group also revealed that it would exit the Republic of Ireland, shutting all its 26 shops in the country, hitting 347 workers, in the face of squeezed consumer spending.
– Starbucks
In September, Starbucks launched an overhaul which resulted in the closure of some of its UK coffee shops.
The group did not disclose exactly how many sites would shut but closed 10 locations in October as part of the process.
– Fired Earth
Upmarket tile retailer Fired Earth slid into administration in October, resulting in the closure of its 20 UK showrooms, and 133 job cuts.
Rival Topps Tiles bought the Fired Earth brand, IP, website and around £2.5 million worth of stock but could not save any of the chain’s stores.
– Brewdog bars
Scottish craft brewery and bar business Brewdog shut 10 of its sites in July, including its first-ever venue in Aberdeen.
The closure plan, which was part of a shake-up of Brewdog’s hospitality arm, put almost 100 jobs at risk.
– Monki
At the start of the year, European fashion giant H&M announced plans to close its seven stores under its Monki brand.
It said a “limited number” of these would be transformed into its sister brand Weekday but still closed a number of shops permanently.
– River Island
Retail chain River Island shut 33 shops as part of a restructuring to help support its future.
The fashion group pushed through a formal restructuring plan amid fears that the company could collapse into administration without action.
It also secured rent reductions on 71 other stores as part of the plan.
– Hobbycraft
In April, the arts and craft retailer revealed plans to shut nine of its stores, in a move it said would hit up to 126 workers.
It comes after Modella Capital bought the retail business last year.
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