Pubs, Bars & Clubs News
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NewsM&B axe 1,300 jobs
Mitchells & Butlers has announced 1,300 of its staff have been made redundant as it deals with the ongoing impact of the coronavirus pandemic. The 1,700-strong group, which operates brands including Harvester, All Bar One and Toby Carvery, began redundancy consultations with a number of staff last month, and has since started working with advisors CBRE to close up to 20 leasehold pubs and restaurants. The job cuts came as M&B revealed its financial results for the year to 26 September, which saw pre-tax losses of £123m, compared to a profit of £177m in 2019.
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Fuller’s CEO Simon Emeny: Staying positive
Fuller’s has said sales for the first half of the year (for the 26 weeks to 26 September 2020) hit £45.6m, down from £167.1m it made last year. It also reported an adjusted loss before tax of £22.2m compared to a profit of £17.9m last year. “The tightening of the tier system will present further challenges over the winter months, but we welcome the Prime Minister’s comments that we will see the need for restrictions fall away in the spring,” said CEO Simon Emeny. “When the current lockdown was announced, we acted swiftly to implement the lessons learned last time round and this latest closure has been made with minimal stock losses.
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M&B: Staying optimistic about recovery
Mitchells and Butlers has reported a 34.1% sales fall compared to last year, coming in at £1,475m. It made a pre-tax loss of £123m compared to a profit of £177m last year. “Throughout a very uncertain and challenging year our businesses and teams have adapted quickly, creating a safe environment for guests and putting us in a strong position to benefit when consumers are able to eat out again,” said CEO Phil Urban.
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No Christmas bubbles in hospitality venues
Families will be able to meet two other households in private homes in a “Christmas bubble”, though this will not extend to meeting pubs and restaurants.
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Defiance grows in face of Christmas rules
News that the hospitality trade would once again be the worst loser from government restrictions over Christmas has been met with a growing sense of rebellion, as pub leaders suggested they may openly defy the rules.
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Night-time sector in appeal for urgent help
Nightclub operators will meet the Business Secretary this week in an attempt to secure a potential lifeline for the sector.
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Deltic warns landlords of collapse without sale
Nightclub operator Deltic has warned landlords that it faces collapse unless a sale is agreed imminently, Sky News reports.
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Brewdog ad caused ‘serious and widespread offence’
A Brewdog billboard ad which states “F**k You CO2” has been banned by the Advertising Standards Authority.
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Sacha Lord releases recovery plan, warns bounce back ‘could take five years’
Manchester’s night time economy advisor Sacha Lord has released a plan detailing how businesses can be supported to recover from the pandemic, but warned it could take five years for the sector to recover.
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Legal challenge to curfew set for second court hearing
A legal challenge to the 10pm curfew in England is set for a second court hearing at the beginning of next month.
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NTIA: ‘Nightclubs are on the brink of extinction’
The late-night sector will not survive to see recovery without urgent financial support from government, Night Time Industries Association CEO Michael Kill has warned.
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Deltic asks for £1m-a-month government support to see it through sales process
The Deltic Group has asked government for a £1m-a-month bailout as it continues its sales process, the Mail on Sunday reports.
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Brewdog secures £25m CBILs and financing arrangement to tackle crisis
Brewdog has said it is optimistic about the remainder of 2020 in light of financial measures taken to protect the business going forward.
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Scientists blame virus spike on ‘crazy scenes’ on eve of lockdown
A rise in coronavirus cases of 50% has been blamed on increased numbers visiting pubs and restaurants ahead of the second lockdown coming into force.
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Young’s: Toughest times in 189 years
Young’s CEO Patrick Dardis has described the last six months as the toughest period in its 189 years. In its half year H1 report for the 26 weeks to September 2020, it said sales were £55.1m, compared to £168.2m the year before, with the business recording an adjusted operating loss before tax of £19.2m. However it said was encouraged by the fact that sales since reopening on 20 July were 84% of last year. “Our business recently celebrated 189 years and the last six months has been one of the toughest periods in that incredible journey,” said Dardis.
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Marston’s seeks waivers from noteholders
Marston’s has released a formal request to the holders of its secured class A notes for a limited number of further technical waivers during the first half of 2021. In an announcement on the London Stock Exchange today (11 November), the pubco said it was requesting the waivers as a precautionary measure following the renewed lockdown restrictions introduced in Wales on 23 October and England last week.
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Wadworth sells 21 pubs to Liberation Group
Wiltshire-based pubco and brewer Wadworth has announced the sale of 21 pubs to Liberation Group.The sites, sold for an undisclosed sum, are primarily in Gloucestershire, Hampshire and Wiltshire, and comprise more than a tenth of Wadworth’s estate across the south west and London.
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The Inn Collection lands Whitby site
The Inn Collection Group has landed a third Yorkshire site, with prime Whitby venue The Stables at Crossbutts.
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City Pub Group appoints Toby Smith as COO
City Pub Group has appointed Toby Smith into the newly created role chief operating officer from today.
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Listed groups rally over vaccine news
Listed pub and restaurant groups have welcomed news of progress in a coronavirus vaccine with cautious optimism on Monday.
