All articles by Finn Scott-Delany – Page 53
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NewsJobs retention scheme hailed as ‘lifesaver’
The Coronavirus Jobs Retention Scheme has been hailed as an “extraordinary measure” by the government to keep millions of hospitality staff on the payroll – though it was warned it could be rendered meaningless if a forfeiture moratorium is not achieved this week.
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NewsFuller’s in a ’strong financial position’ to weather crisis
Fuller’s is in a “strong financial position”, with an excellent relationship with its banks, a healthy balance sheet and significant liquidity headroom.
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NewsPret to close all stores
Pret a Manger has just announced it will be closing all its 400 UK stores from this evening.
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NewsVapiano applies for insolvency
Vapiano has opened insolvency proceedings and will apply for government assistance programs to avoid bankruptcy, blaming the coronavirus crisis for a further drop in sales.
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NewsBurnham: ‘Government has done least for the people who need help most’
Chef-patron Angela Hartnett has joined calls for a rent-free period and a support for hospitality staff after being forced to close her four restaurants in London.
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NewsSenior CEO: ‘Our view is people should boycott rent’
Senior directors are considering boycotting rent amid a wave of mass closures to hit the restaurant and bar sector, MCA understands.
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NewsMass repossessions if government does not step in
The majority of landlords are refusing to negotiate meaningfully on rent payments despite the threat of widespread restaurant closures, Imbiba property director Kieran Sherlock has told MCA.
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NewsInterest rate cut to 0.1% amid turmoil for listed restaurant and pub groups
The Bank of England has cut interest rate to 0.1%, while announcing £200bn of quantitative easing.
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News‘Realistically, landlords are at the back of the queue’
Calls are growing for the Government to create a six-month lease forfeiture moratorium to prevent landlords from evicting operators for non-payment of rent.
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Hansen: ‘Mobilise workforce to provide meals for vulnerable’
The hospitality workforce facing layoffs should be mobilised to provide a subsidised meal service for the elderly and vulnerable stuck at home during the covid-19 crisis, corporate advisor Peter Hansen has told MCA.
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Analysis & InsightBDO: ‘The contagion into a deep recession will happen very quickly’
Widescale job losses in the restaurant and bar industry will plunge the UK economy into a deep recession, BDO partner Peter Hemington has told MCA.
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NewsYoung’s to introduce rent holiday for tenants
Young’s will continue to trade its pubs as “a place of sanctuary in these uncertain and worrying times”.
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NewsLoungers closures a potential scenario
Loungers has said the partial or complete temporary closure of all of its sites is a potential scenario.
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NewsShepherd Neame directors take 20% pay cut
Shepherd Neame said it was inevitable trading “will deteriorate rapidly” as it introduces a number of precautionary measures.
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NewsLondon faces lock down as tube stations close
Up to 40 stations on the London Underground network are to be shut as the Prime Minister prepares new restrictions in the capital to reduce the spread of coronavirus.
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NewsAzzurri shuts entire estate
Azzurri Group is to close all Ask, Zizzi and Coco di Mama restaurants from today, CEO Steve Holmes has announced.
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NewsDowney: ‘One million hospitality jobs lost this week’
As many as one million hospitality jobs have been lost this week, with groups laying off on average 80% of their staff, according to a straw poll conducted by Street Feast founder Jonathon Downey.
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NewsM&B has headroom to suffer ‘significant loss’
Mitchells & Butlers has provided a trading update in light of the Covid-19 outbreak, with like-for-like sales 0.9% for the 24 weeks to 14 March.
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NewsRestaurants close dine-in, announce delivery options
Bao, Kricket, Berber & Q, Breddos Tacos and Monty’s Deli are among the restaurant groups to announce temporary closures.
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NewsMowgli to close all sites
Indian street food group Mowgli is closing all its sites as part its effort to help curb the spread of Covid-19.