All MCA Insight articles in July 2020 – Page 11
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NewsPubs nudge up prices
J.D. Wetherspoons increased drinks prices by around 10 pence as it reopened the majority of its pubs over the weekend.
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NewsTasty slashes third of workforce
Wildwood operator Tasty is making 284 staff redundant, around 32% of its workforce.
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NewsMusic venues to benefit from £1.5bn arts bail-out
Music venues will be among the beneficiaries of a £1.5bn lifeline being drawn up by chancellor Rishi Sunak to support the arts sector.
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NewsEmeny urges VAT cut
Fuller’s CEO Simon Emeny has urged the Chancellor to cut VAT to prevent thousands of job losses across the hospitality industry.
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NewsPret could close 10% of UK stores
Pret A Manger could close up to one in ten of its around 400-strong UK estate as it deals with the dramatic drop-off in city centre footfall.
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News“Success depends on cooperation” UKH tells consumers
The consequences of getting the unlocking of hospitality wrong are unthinkable, and everyone will need to play their part, UK Hospitality has warned.
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NewsBrewdog to reopen entire English estate tomorrow
Brewdog will reopen all of its bars in England tomorrow (4 July), before reopening the external areas in its Scottish bars on Monday (6 July).
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NewsHall & Woodhouse to open with compulsory pre-booking system
Dorset-based pubco Hall & Woodhouse will begin reopening its sites next week with a compulsory pre-booking system in place.
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NewsFuller’s to open 27 pubs tomorrow
Fuller’s has announced a phased, gradual reopening, with 27 pubs to relaunch tomorrow.
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Analysis & InsightMorgan Stanley on Mitchells & Butlers
M&B’s pubs are mostly large, branded, food-led, freehold in residential areas, so better able to cope with Covid-19 pressures and take share as supply exits. We want to be positive, but its securitised debt needs the PLC to inject cash to fund it, and it might need to replace PLC debt with equity.
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Analysis & Insight
Berenberg: UK pubs and restaurants guide to reopening
Having been closed for more than three months since the UK went into lockdown on 23 March, the UK’s pubs and restaurants will be allowed to reopen from this Saturday, 4 July. Having spoken to management teams across the sector numerous times over the last 19 weeks, we have pulled together a “cheat sheet” on reopening plans and key points to watch in the months ahead.
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NewsPrezzo details phased reopening
Prezzo has confirmed details of its phased reopening plan, with eight restaurants to open tomorrow, with a further 27 following throughout July.
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NewsMitch Tonks: Rockfish will be strongest restaurant business in South West
Rockfish founder Mitch Tonks said the seafood restaurant group has “updated everything” during lockdown, using the crisis to reboot the business as it prepares to reopen on Saturday.
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InterviewsBrasserie Bar Co. MD Richard Ferrier: ‘Government rent intervention will do more damage than good’
With sites across the home counties, along the Thames, up to Leeds and down to Bournemouth, Brasserie Bar Company’s rent bill doesn’t come cheap. In the capital, some of the group’s prime locations include Southbank, the Tower of London and Threadneedle street. With this in mind, it may come as a surprise that managing director Richard Ferrier not only sees government intervention in the rent stalemate as unnecessary, but is actively against it.
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NewsIndustry takes cautious approach to reopening
Hospitality operators are taking a cautious approach to reopening as just 59% of businesses plan to reopen some of their sites on 4 July, the new Business Confidence Survey from CGA and Fourth has found.
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InterviewsM&B CEO Phil Urban: ‘People want to go out and be social again’
As social media storms go, it was up there with the silliest.
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NewsAlixPartners: Necessity is the mother of invention
Relief, excitement and anxiety seem to be the overriding emotions emanating from hospitality operators since the government finally confirmed that 4 July is the date pubs and restaurants bring up the shutters after three months of inactivity. According to the latest weekly Hospitality Leaders Poll by MCA/HIM, exactly 50% of respondents are set to grasp that opportunity and reopen this coming weekend. The pent-up demand that exists from the public to eat and drink out has been highlighted by the volume of bookings many operators have already taken.
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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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NewsShake Shack debuts in Brighton
Shake Shack is to debut in Brighton and Hove with a kitchen at Deliveroo Editions.
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NewsRed Oak Taverns secures £2.6m from CBILS
Red Oak Taverns has secured a £2.6m loan from Oak North via the government’s Coronavirus Business Interruption Loan Scheme (CBILS).