All MCA Insight articles in August 2020 – Page 8
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News
Pizza Express announces next wave of reopenings
Pizza Express is set to reopen a further 63 sites next week, taking its total reopen estate to over 300.
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News
Fulham Shore raises £2.25m in share placing
Fulham Shore has raised £2.25m in a share placing that was oversubscribed.
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Analysis & Insight
No-shows and cancellations begin to drop
Consumers are now slightly more likely to honour their eating and drinking out reservations than they were when venues initially reopened, CGA’s latest consumer pulse survey has revealed.
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Analysis & Insight
Footfall returns to 50% pre-lockdown levels
UK footfall has returned to 50% of pre-lockdown levels, according to the latest data from Wireless Social.
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News
Stonegate bonds dip amid continuing speculation of schools over pubs ‘trade-off’
Speculation that pubs and bars may close in a ‘trade off’ with the reopening of schools has caused Stonegate bonds to dip just two weeks after their sale, the Financial Times reports.
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News
Wetherspoon to cut over 100 head office staff
JD Wetherspoon has warned that over 100 head office roles could be at risk as it looks to scale back its operation.
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News
Industry reports ‘fantastic’ first week of Eat Out to Help Out
Operators across the industry have reported a significant uplift in bookings and sales during week one of the government’s Eat Out to Help Out scheme.
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News
Not-for-profit BAME in Hospitality launches mentorship scheme
Not-for-profit organisation BAME in Hospitality has launched a new mentorship programme to support Black, Asian and Minority Ethnic people working in the sector.
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News
Pizza Pilgrims non-exec Ian Edward: “Grown-up landlords” will prioritise partnerships
If landlords want to see their sites recover from the coronavirus crisis, they must prioritise making long-term partnerships over hard-lined rent demands, MCA’s The Conversation has heard.
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Opinion
Will Eat Out Help Out?
Eat Out to Help Out went live on Monday, and so far the signs are looking every bit as good as rare steak for dinner after you were forced to skip lunch. Of course it’s too early to see total sales for the traditionally quiet early week trading period, but anecdotal and empirical evidence suggests the word ‘unprecedented’ could be due a comeback. I tried to book a table on Tuesday night at Bill’s and the earliest they could offer was 9pm. It was the same at Giggling Squid. Carmona Tapas, a small three strong chain, was empty the last time I went on 5 July. Now it was fully booked.
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News
Hammerson: initial reopening footfall has been subdued
Hammerson has said as of the end of July is had collected 72% of rent due for the first half of the year and 34% of rent due for the third quarter. It said the average rent waiver was just over a month, and deferral of just under a month during the coronavirus. Though group occupancy remained strong, at 94% compared to 97% in 2019, it said 36 tenants had entered administration or undertaken a CVA. It said 88 our of 2,886 units were affected. It said footfall in June was down 73% on last year.
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News
Fulham Shore - sales around 72% on previous year
Fulham Shore has released a trading update and announced a fundraise as it looks to fight its way though the coronavirus crisis. It said it has 49 out of 51 Franco Manca sites open, and 14 out of 18 Real Greek restaurants open, and though social distancing means they are only operating at between 60-70% of their previous capacity, this has “to some extent” been compensated by an increase in delivery and takeaway sales. It said in the four weeks since 6 July, like-for-like restaurant sales at reopened sites were around 72% year on year.
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News
Yo! appoints Deloitte to explore CVA
Yo! has appointed Deloitte to advise on the possibility of a CVA, according to a report on Sky News. It said although discussions are still ongoing, unless Yo! was able to strike reductions in rent with landlords it was likely a CVA would be the likely option. Yo! had been in the process of reopening a number of sites which had been remodelled to deliver food to customers via its trademark conveyor belt.
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Analysis & Insight
Hospitality reopening moves services sector from ‘contraction’ to ‘growth’
The reopening of restaurants, pubs and bars last month prompted Britain’s services sector to grow at its fastest rate in more than five years, according to a survey by IHS Markit.
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News
Pubs and restaurants forced to close as Aberdeen enters local lockdown
Pubs and restaurants will be forced to close in Aberdeen this week as a “significant outbreak” of the coronavirus will see the city enter local lockdown.
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News
Greene King Premium, Urban and Venture Brands MD Karen Bosher: ‘It’s not our job to lecture people on healthy eating’
Although the Government may be adopting a nanny-state approach in its Obesity Strategy, it is not the responsibility of hospitality operators to determine the public’s eating habits, MCA’s The Conversation has heard.
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News
Pizza Pilgrims NED Ian Edward: Crisis will accelerate 'fundamental transformation' of casual dining
For all the devastation the coronavirus crisis has caused across the sector, casual dining will come out the other side transformed for the better, Ian Edward has said.
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News
Chicken concept Wingmans to open ‘largest site to date’ in Soho
Chicken concept Wingmans is to launch its largest site to date in Soho this week.
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News
One in three pubs unable to break even a month after reopening
Over a third of pubs in the UK can’t break even one month after reopening, according to the British Beer and Pub Association.
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News
Loungers sees encouraging July trading
Loungers has reported an encouraging performance for its first four weeks of post-lockdown trading.