All articles by James Halliwell – Page 5
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NewsDeliveroo and Majestic experience record growth during lockdown
Deliveroo and Majestic have boosted their tie-up to 137 stores, making the high street wine merchant Deliveroo’s largest wine business.
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NewsEscape Hunt reopens English estate
Escape Hunt will reopen its eight sites in England on 11 July 2020, and will open its Edinburgh site when the Scottish government allows it. It’s also continuing work on its sites in Norwich and Basingstoke which were put on hold when the lockdown was ordered. Both will open in a few months bringing to total estate to 11. It said it had put “comprehensive measures” in place to ensure the safety of staff and customers.
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NewsBurger King set to close up to 10% of its estate
Burger King UK CEO Alasdair Murdoch has said the chain could shut 10% of its restaurants with the loss of up to 1,600 jobs as a result of the coronavirus. The chain has reopened 370 of its 530 strong estate, but Murdoch told the BBC the scale of the crisis was insurmountable, saying “I don’t think you can ever get over the top of this problem.” He said the discount scheme unveiled by Rishi Sunak was an “innovative approach” and that Burger King would take part, but that Burger King could close 5% to 10% of its stores because they were paying rent but “taking absolutely no money”.
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NewsNew River reports “encouraging” trading since reopening
New River has said over 90% of its pubs have reopened, and plans to reopen its pubs in Scotland and Wales over the next two weeks. It said of the total quarterly rent due on 24 June 2020, 71% had either been collected or alternative payment terms had been agreed with occupiers. It added that further progress had been made in terms of collecting rents for the period from 25 March to 1 June, which had increased to 57%, from the 52% previously reported in its full year results, and rent outstanding had improved to 18%, down from 21%.
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NewsDermot King new CEO at Oakman Inns
Dermot King is the new CEO of Oakman Inns following a promotion from COO. Current CEO Peter Borg-Neal will move into the role of executive chairman from 1 August. Chairman Mike Smith will remain on the board in a non-executive role. “I am honoured and delighted to become CEO of such an outstanding business,” said King. “Having spent the last 18 months working alongside Peter and the team I genuinely believe there is no limit to what we might achieve.
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OpinionMore bright spots on the horizon
Soho! One of the most colourful, vibrant and edgy parts of the capital, it’s famous, and infamous, for its neon-lit nightlife. So although in this current coronavirus climate you have to question the mindset of anyone who sees a crowd and gravitates towards it, it was inevitable it was going to get a bit busy there on the 4 July. Grim scenes for any nervy hypochondriacs who could actually taste the coronavirus dripping down onto Soho’s cobblestone streets, but the reality is that the footage only served to demonstrate how isolated it was.
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NewsOakman Inns CEO Peter Borg-Neal: Happy with 4 July reopening
Peter Borg-Neal has told MCA he was “happy” with the way his estate traded over the 4 July reopening weekend. Speaking to MCA’s virtual event The Conversation, the Oakman Inns CEO said “on balance the weekend went well. “We traded around 83% of last year on a like for like basis on Saturday, and about 82% on the Sunday. We’re quite happy with that number given that we were at 75% capacity in terms of the number of seats and we had no vertical drinking except for in the garden.
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NewsPret to close 30 shops
Pret CEO Pano Christou has said it is a “sad day” for Pret after he announced it was permanently closing 30 shops as a result of the coronavirus crisis. He said the impact of the virus on operating costs and cashflow had been “significant”, with sales down 74% year on year, and that Pret would now look to reduce staff across its remaining shops and at its London HQ. It will also look to sell the lease of the building.
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NewsCasual Dining Group appoints administrators
Casual Dining Group, which operates brands including Las Iguanas, Bella Italia and Café Rouge, has appointed administrators. It said 91 sites would close with immediate effect causing a number of redundancies. The business said in today’s “extreme operating environment it is in the best interests of all stakeholders for the Group to enter administration, to enable the Group to conclude negotiations with landlords regarding the estate.”
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NewsHospitality Leaders Poll: Industry split over track and trace
With the industry allowed to reopen on Saturday, operators are split over whether it’s viable for them to adhere to one of the safety guidelines revealed by the government last week. One aspect of the guidelines that has sparked debate is the cooperation with the NHS track and trace scheme, with operators asked to take contact details of visitors and hold them for 21 days. Further clarity on exactly what will be required is expected later this week
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NewsUKH, CGA And Yumpingo unite to boost consumer confidence
A new initiative backed by UK Hospitality, CGA and Yumpingo is looking to help rebuild consumer confidence in eating and drinking out, and give operators feedback on how they feel about their experiences of hospitality post-coronavirus. Dubbed ‘We Hear You’, the free digital platform is based on Yumpingo’s existing review platform but will ask customers for feedback on the various safety measures implemented in line with government guidelines.
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NewsWelcome Break boosts liquidity
Welcome Break has boosted its liquidity after repurposing £25m of a dedicated capital expenditure facility in into a revolving credit facility. Lenders to Welcome Break have also relaxed or remove covenant conditions for tests up to and including June 2021. Parent company Applegreen said it thanked the lenders for their “ongoing support for Welcome Break and the confidence they have demonstrated” in its business model.
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NewsSSP set to make 5,000 redundant
SSP has revealed plans to make 5,000 people redundant thanks to the “unprecedented impact” the coronavirus has had on the travel sector. In a trading update it said it had taken “rapid and decisive management action” in an attempt to “protect our colleagues and customers and to preserve cash and liquidity for the duration of the many government restrictions” worldwide. However, CEO Simon Smith, said despite some “early signs of recovery in some parts of the world” in the UK the “pace of the recovery continues to be slow.
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NewsTRG successful in CVA bid
The Restaurant Group has confirmed that its proposed CVA for its leisure estate has been approved. It said over 82% of all creditors voted in favour of the proposal (75% approval required) and over 65% of the unconnected creditors voted in favour of the proposal (50% approval required).
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NewsHospitality Leaders Poll: only 50% of operators plan to reopen on 4 July
With just eight days to go, only half of the hospitality industry plans to reopen on 4 July, according to the latest weekly Hospitality Leaders Poll by MCA Insight/HIM. Exactly 50% of respondents to this week’s poll said they would reopen on the 4 July after the date was confirmed on Tuesday by the PM, with 20% still unsure and 30% saying they would not reopen.
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NewsMarston’s focused on the future
Marston’s has said the impact of coronavirus hit sales by £40m. Announcing its interim results, it said sales for the 26 weeks to 28 March dropped to £510.5m compared to £553.1m the year before. Pre-tax profits also dived from £34.2m to £9.4m. However, although it acknowledged that under the circumstance its “initial revenue and earnings profile” was uncertain it was upbeat in its outlook, saying it had “plans in place for pubs to reopen from 4 July, its JV with Carlsberg “significantly” strengthened its balance sheet and of its predominantly freehold pub estate, located outside city centres, 90% has outside space.
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NewsIntu warns administration is “likely”
Intu has said it is likely to appoint administrators. In a statement it said “On 23 June 2020, Intu properties plc provided an update on discussions with key stakeholders to progress its standstill strategy ahead of the revolving credit facility covenant waiver expiry at 11:59 p.m. this evening, 26 June 2020.
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NewsJW Lees launches safety campaign
JW Lees has launched a ‘JW Lees C-19 safe’ campaign to reassure employees and customers that it will provide a safe environment for everyone when it reopens. It said that it was planning to reopen its pubs with “one metre plus” distancing measures which will take place from 4 July to 5 August with “all pubs being individually risk-assessed and applying the ‘JW Lees C-19 safe’ guidelines which we have been busy developing over the last three months.”
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NewsStonegate weighs in with additional support
The Stonegate Pub Company has added further support to its existing package to help its leased and tenanted pubs – known as the Ei Publican Partnerships – to reopen. Now totalling £28m, Stonegate said the package includes rent credit equivalent to 75% for July and 50% for August for “all tied publicans on substantive agreements”. It also said credits have also been applied to “Tie Release Fees and Fixtures & Fittings rental charges and to assist with future cashflow over the next 12 months” and all rent invoices will now be produced weekly instead of monthly or quarterly.
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NewsPlans to promote outdoor dining will boost recovery
The Great British weather permitting, moves to push outdoor dining will be a boost for the beleaguered eating and drinking out industry, UK Hospitality has said. The government has revealed plans to allow more pubs, restaurants and cafes to be able to serve customers outdoors, including a simplification of the licensing process. “Businesses will need all the help they can get to return to healthy trading and protecting jobs, so simplifying the licensing process and reducing red tape will be a great help,” said UK Hospitality CEO Kate Nicholls.