All articles by Georgia Cronin – Page 22
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NewsParliament’s bars exempt from tougher measures
Parliament’s bars will not be subject to coronavirus restrictions despite the implementation of tougher measures on the wider sector last week, the Times reports.
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NewsBurnham: ‘Curfew doing more harm than good’
The 10pm curfew rule is “doing more harm than good” and should “probably” be lifted, Greater Manchester Mayor Andy Burnham has said.
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NewsIndustry launches support service for recently unemployed
Industry bodies have joined forces to launch a free support service for people struggling in the sector. CareerScope, a joint venture between Springboard, Hospitality Action, UK Hospitality, the Institute of Hospitality and the Savoy Educational Trust, is an online hub designed to support those within the hospitality, leisure and tourism sectors who have either lost their jobs or are struggling to find work because of the pandemic.
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NewsEmergency lockdown plans could enforce two-week hospitality closure
A new emergency lockdown plan could be enforced across northern England and London in the coming days, the Times reports.
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NewsFulham Shore delays results, predicts it will be a “successful survivor”
Fulham Shore, the parent operator behind restaurant brands Franco Manca and The Real Greek, has been granted an extension of its FY20 results by the AIM Regulation.
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NewsPure to enter CVA
Healthy to-go brand Pure is set to enter a company voluntary arrangement (CVA), the Times reports.
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NewsPolpo files for administration
Venetian-style small plates concept Polpo has filed for notice of administration, according to the Times.
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NewsSales plummet at GBK
Gourmet Burger Kitchen system-wide like-for-like sales fell 66.2% for the six months to 27 August 2020, parent company Famous Brands has reported.
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Analysis & InsightTwo in five to retreat from hospitality with new restrictions in place
Two in five consumers will go out less often as a result of the new restrictions placed on pubs, bars and restaurants, according to CGA.
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NewsRevolution considers CVA
Revolution Bars Group has confirmed it is working with advisors to secure its long-term viability. The company is currently evaluating the potential impact of the latest restrictions on the business, and is exploring various options including a reduction of its estate through a company voluntary arrangement (CVA). No decisions have yet been made, but the board is considering all necessary options to ensure its viability in light of the latest government measures.
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NewsShaftesbury collects 41% of rents in H1
West End pub and restaurant landlord Shaftesbury has said it remains confident in the long-term prospects of its portfolio, despite collecting less than half of its owed rent in the past six months.
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NewsDeliveroo enters IPO talks
Deliveroo has begun preliminary talks to explore an initial public offering (IPO), Bloomberg reports.
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NewsVarious Eateries enters AIM
Various Eateries, the Hugh Osmond-backed operator of the Coppa Club, has entered its first day of trading on the AIM today (25 September).
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NewsDebt enforcement moratorium extended
The government will extend the debt enforcement moratorium until the end of the year, business minister Lord Callanan has announced.
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NewsFirst night of curfew passes ‘largely without incident’
The first night of the 10pm hospitality curfew in England and Wales has passed “largely without incident,” according to Sky News. As part of an investigation into how the curfew was handled in London and Birmingham, Sky reported overall compliance, streets adorned with “fluorescent vests and jackets of enforcement officials” and “eerily quiet” streets at 10pm.
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Analysis & InsightSunak’s winter plan ‘nowhere near enough’
The Chancellor’s Winter Economy Plan has been met with dismay from the industry, with proposals of a 33% wage subsidy and two-month VAT cut extension a far cry from the levels of support needed to see businesses survive.
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NewsChancellor’s Winter Economy Plan: ‘Job Support Scheme,’ ‘pay as you grow’ and VAT cuts
Businesses forced to reduce employee working hours because of the coronavirus crisis will be legible for government wage subsidies of one third of lost pay, The Chancellor has announced. To continue supporting businesses with cashflow, bounceback loans will be merged with a new ‘pay as you grow’ scheme and government guarantees for CIBLS will be extended for up to ten years, and the deadline for all loan schemes will be extended until the end of 2020 whilst government works on a “new successor loan guarantee programme” to start in January 2021. The VAT bill, due to be paid in March 2021, will instead be spread over 11 smaller payments without interest for those businesses who need it, and the Chancellor has cancelled the planned increase in VAT (back to the standard rate of 20%) set for January, with VAT remaining at the reduced 5% rate until 31 March instead.
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InterviewsDeltic CEO Peter Marks: ‘We’re innocent until proven guilty’
There has been no evidence to support government suggestions that hospitality is to blame for the rise in coronavirus cases, and therefore the industry should be considered “innocent until proven guilty,” Deltic CEO Peter Marks has told MCA.
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NewsGiggling Squid to open in Cambridge
Thai restaurant group Giggling Squid is set to open a new site in Cambridge next week.
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NewsRaab: ‘We can’t rule out second lockdown’
The government can’t rule out a second lockdown if the latest coronavirus restrictions fail to curb infection rates, foreign secretary Dominic Raab has said.