All MCA Insight articles in July 2020 – Page 2
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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NewsTasty slashes third of workforce
Wildwood operator Tasty is making 284 staff redundant, around 32% of its workforce.
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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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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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Analysis & InsightCGA: 45% of English pubs and bars reopened on Saturday
Around 45% of England’s pubs and bars opened on Saturday, CGA reports.
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NewsElliott Advisors eyes CDG
American hedge fund Elliott Advisers is among investors vying to take over Casual Dining Group (CDG), Sky News reports.
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NewsWhitbread opens 24 restaurants
Whitbread has reopened 24 restaurants and 270 UK hotels, with the the majority of the rest of the estate due to reopen throughout July.