All MCA Insight articles in April 2020 – Page 6
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News
Whitbread eligible under Covid Corporate Financing Facility
Whitbread has announced it has been confirmed as an eligible issuer under the UK Government’s Covid Corporate Financing Facility (CCFF).
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News
Wholesalers urge operators to settle bills
Wholesalers have called on pubs, restaurants and cafes to pay settle their invoices for stock ordered before the lockdown.
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Analysis & Insight
Analysts’ verdict: Berenberg on City Pub Group
Berenberg finds City Pub Group’s fundraise has left the company with a “substantial level of liquidity” and a “best-in-class balance sheet”, which it could deploy on cut-price acquisitions.
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News
Creams: ‘There will be casualties, but we don’t intend to be one’
Having seen record delivery numbers in the last two weeks despite only operating out of less than half of its estate, Creams will not be an industry casualty, Elton Gray, Creams commercial and operations director, has told MCA.
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News
Administrator weighs up bids for Carluccio’s
Parts of Carluccio’s estate and assets have received interest from Tesco, Boparan Restaurant Group, and Byron owner Three Hills Capital.
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News
UKH: ‘There’s an opportunity to press reset on certain legislation’
The Government must look at alternative methods of funding the hospitality industry if it wants the sector to play a meaningful part in the recovery of the UK economy, UK Hospitality CEO Kate Nicholls has told MCA’s The Conversation.
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News
Lockdown extended for three weeks
Lockdown will continue for at least another three weeks, with “light at the end of the tunnel” if certain criteria are met.
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News
Downey’s nine-month rent time out proposal to be submitted to Government
Jonathan Downey, founder of Hospitality Union, is to submit a formal proposal to the Treasury next week for a nine-month rent-free period for hospitality, leisure and retail businesses forced to close because of the coronavirus pandemic.
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News
City Pub Co raises £22m
City Pub Group has raised £22m following a share placing, cutting net debt by two thirds.
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News
Wimpy adds delivery and takeaway sites
Wimpy opened a brand new site in Orpington over the Easter weekend, with half of its 68-strong estate now offering home delivery or takeaway during lockdown.
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News
Restaurants and coffee shops first in line to reopen
Restaurants and coffee shops, as well as estate agents, could be the first to reopen, according to a report seen by ministers.
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News
Shelley Sandzer: Recalibrate to rejuvenate
Even before Covid-19 affected us all, rent and rates liabilities were dangerously high for F&B operators and there had already been some casualties. The Living Wage and Minimum Wage were adding further pressure too, so when coronavirus hit like a metaphorical stop button, the impact of these issues accelerated exponentially, creating a perfect storm of pain felt by everyone in the industry.
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News
Marston’s: ‘We are all in this together’
Marston’s is having constructive conversations with its tenants and lessees about rent, with relief concessions being offered where appropriate, CEO Ralph Findlay has said.
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News
DCL: ‘Lots of activity’ in property post-lockdown
Property deals are expected to ramp up again in the immediate aftermath of the lockdown being lifted, Trevor Watson of David Coffer Lyons has said.
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News
Sacha Lord: 70% will go under without urgent cash support
Seventy per cent of night-time operators face going out of business if they do not get urgent access to cash support from government, Manchester night czar Sacha Lord has warned.
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Opinion
Peter Martin: ‘Flexibility and patience will be vital for reopening’
The Government may “fire the starting gun” on lifting restrictions, but it will be down to individual companies to carefully plan their own reboot, panellist Peter Martin told attendees at MCA’s virtual event, The Conversation.
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News
Luke Johnson urges operators seeking investment to contact him
Luke Johnson has urged certain hospitality operators seeking investment to contact him.
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News
UKH: ‘Government silence equals consent on tronc JRS claims’
Where tronc is properly constructed as part of regular monthly payments, it should count as part of employee earnings in the furlough claim process, Kate Nicholls, UK Hospitality CEO has advised.
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News
Burger King to re-open select sites
Burger King has announced it will begin reopening sites for delivery.
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News
FCA warns insurers ‘settle claims or explain’
The Financial Conduct Authority has warned insurance company bosses to speed up and settle coronavirus-related claims or explain themselves to the regulator.