All articles by Georgi Gyton – Page 117
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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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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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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.
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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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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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Analysis & InsightTrading would not be viable with alcohol ban, says majority
More than two-thirds (67%) of operators surveyed said they could not reopen sites if there was a ban on serving alcohol, according to the latest Hospitality Leaders’ Poll.
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NewsRed Oak acquires pub package; in talks over £35m extra capital
Red Oak Taverns has acquired a package of 10 leased and tenanted pubs from Wells & Co, taking its total estate to 190, and is in the process of finalising terms for an additional £35m of capital.
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NewsOakman raises £4.4m
Oakman Group, the operator behind Oakman Inns and Restaurants and Ashmore Inns, has closed its latest equity raise – receiving applications for £4.4m of shares from almost 300 new investors.
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NewsExtension of JV arrangements for Ego Restaurants
Mitchells & Butlers (M&B) has reached an agreement with James Horler, CEO of 3Sixty Restaurants, and its other shareholders, to continue with the joint venture arrangements, in relation to the development of Ego Restaurants, for a further period.
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NewsPubs and restaurants won’t reopen until May, according to roadmap
Pubs, bars and restaurants, will not be able to reopen until May under a phased reopening programme, according to the government’s roadmap out of lockdown, The Daily Mail has reported. It claims the blueprint for lifting the UK out of lockdown will see curbs eased at four-weekly intervals, starting with ...
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Hospitality not significant area of Covid transmission
Hospitality businesses were not significant areas of Covid transmission in 2020 and should be central to reopening plans in 2021, according to new research by CGA, commissioned by UKHospitality.
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NewsSixty percent of pubs would stay closed in outdoor-only scenario
Sixty percent of pubs – approximately 29,000 – would remain closed if the government were to permit outdoor-only service from April.
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Analysis & InsightPeel Hunt ups target price for M&B after share announcement
Analyst Peel Hunt has increased its target price for Mitchells & Butlers (M&B) from 275 pence per share to 325p and changed its recommendation from Add to Hold.
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Analysis & InsightLockdown continues to boost delivery purchases
The restrictions on trading in lockdown have pushed more and more consumers towards delivery and click and collect purchases, according to the latest research from Lumina Intelligence.
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NewsAdmiral warns of mass closures if outdoor-only pub policy goes ahead
Chris Jowsey, chief executive of Admiral Taverns has warned that up to 25% of its pubs could close if the government brings in an outdoor-only policy when restrictions are relaxed for pubs.
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NewsTim Martin: Give pubs level playing field
JD Wetherspoon chairman Tim Martin has called on the government to open pubs at the same time as non-essential shops reopen, stating that the industry is “on its knees”.