All articles by Georgi Gyton – Page 101
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NewsRestaurant market predicted to grow by a third in 2021
The value of the UK restaurant sector is expected to grow by 32.1%, to reach £11.7bn, in 2021, on the back of market contraction of 53.1% last year, according to a new report from Lumina Intelligence.
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NewsTalks held over rates relief and alcohol duty freeze
The treasury has held talks on support measures for the hospitality sector in the form an extension of the business rates holiday and a freeze on all alcohol duties, The Telegraph has reported.
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NewsElectra in talks over Fridays franchise
Electra Private Equity is in negotiations with the American owner of Fridays about a new franchise agreement, according to The Times.
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NewsAPPG for Hospitality and Tourism urges Chancellor to offer financial support
The All-Party Parliamentary Group for Hospitality and Tourism has called on Chancellor Rishi Sunak to provide decisive financial support to the sector in his upcoming Budget.
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NewsTRG commits to new £500m debt facilities
The Restaurant Group (TRG) has signed commitments in relation to £500m of new debt facilities, which comprise a £380m term loan facility and a £120m super senior revolving credit facility.
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NewsLicensed premises closing at rate of 30 per day
Almost 12,000 licensed premises have closed in Britain since December 2019, according to the latest CGA and AlixPartners Market Recovery Monitor.
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NewsHospitality had highest take-up of furlough scheme in January
The hospitality sector had the highest take-up of the furlough scheme, of all sectors, between the end of December and end of January, according to the latest government data.
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NewsFuller’s FD to step down
Fuller’s finance director Adam Councell has informed the board of his intention to step down from his role at the pub and hotel business.
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NewsYO! appoints new chairman
Global Japanese and Asian food group YO! has appointed John Walden as its new chairman, with Eric Nicoli to step down.
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NewsChancellor warned over business failures
In a letter to the Chancellor, more than 200 industry leaders and trade bodies have warned that more hospitality businesses will go under unless a substantial package of support is announced in the Budget next week.
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NewsSunak to replace emergency schemes with new business loan
Chancellor Rishi Sunak is expected to unveil plans for a new UK-state guaranteed loan programme in next week’s Budget, which would replace emergency coronavirus schemes, according to the Financial Times.
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NewsConservative MPs call for cut in beer duty
A group of 68 Conservative MPs have signed a letter calling for the Chancellor Rishi Sunak to cut beer duty in his upcoming Budget announcement on 3 March.
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Analysis & InsightTwo-thirds say April opening not viable
Almost two-thirds (63%) of those surveyed said that it was not viable for them to reopen in April when outside trading is permitted, according to the latest Hospitality Leader’s Poll from Lumina Intelligence.
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NewsTGI Friday’s positioned to emerge strongly from lockdown
TGI Friday’s has performed strongly despite the turbulent trading conditions of 2020, according to parent company Electra Private Equity, with several new openings in the pipeline.
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NewsGordon Ramsay sees turnover drop almost £60m during pandemic
Gordon Ramsay has said the pandemic has so far cost his restaurant business close to £60m in lost revenue.
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NewsHospitality companies see stocks rise on back of roadmap announcement
Investors have snapped up hospitality and leisure stocks following the announcement by Boris Johnson of his roadmap out of lockdown on Monday.
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NewsNewRiver acquires £41m retail and leisure estate
NewRiver has acquired Sheffield leisure and retail estate The Moor in a joint venture (JV) agreement with Bravo Strategies III, for £41m.
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NewsZabardast pauses franchise drive to focus on digital; eyes investment
Indian wrap company Zabardast has paused its search for franchisees as it looks to pivot its business to become more digitally and delivery focused. But it has not scrapped plans to scale up the business, and is looking to launch an investment round.
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NewsDardis says industry needs certainty on reopening
Patrick Dardis, chief executive of Young’s Pubs has told the Evening Standard that although he would have preferred an April reopening date for the pub sector, he would take a clear roadmap with a later opening over uncertainty.
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NewsExtension to furlough and business rates holiday expected
Chancellor Rishi Sunak is expected to announce an extension to the year-long business rates holiday and furlough scheme, in the Budget next month.