All MCA Insight articles in July 2020 – Page 2
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News
Boston Tea Party has ‘considerable cash cushion’
Boston Tea Party is trading materially ahead of its forecasts, its latest financial report reveals.
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Analysis & Insight
Greater Manchester tier 3 funding 'brutal' and a 'huge blow'
The government’s offer of £22m to place Greater Manchester under tier 3 restrictions is far from the levels of support needed to prevent mass job losses and closures in the sector, hospitality trade bodies have warned.
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News
Greater Manchester goes into tier 3
Greater Manchester will be placed into tier 3 coronavirus restrictions on Friday after talks to reach a financial settlement broke down.
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News
Khan calls for curfew to be scrapped
Mayor of London Sadiq Khan has called for called for the 10pm curfew to be scrapped, saying it “makes no sense” now the capital is in tier 2.
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Interviews
Rare Restaurants CEO Martin Williams: ‘Rule of six could boost bookings’
The government’s new ‘rule of six’ mandate could prompt consumers to dine out in larger mixed groups, Rare Restaurants CEO Martin Williams has said.
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News
Welcome Break signs up to Eat Out to Help Out
Motorway service operator Welcome Break has signed up to the Eat Out to Help Out scheme.
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News
Reopening of bowling alleys postponed as PM pauses lockdown easing
The next wave of lockdown easing in England has been postponed for two weeks, the Prime Minister has announced today.
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News
Shake Shack launches DIY burger kit
Shake Shack has become the latest brand to release its own cook-at-home meal box.
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News
Pubs and restaurants see sales continue to slowly rise
Coffer Peach Business Tracker figures for w/c 20 July 20 show that collective like-for-like sales were down 28.5% year on year, but up on the 31.6% decline the week before, and the 39.8% decline the week before that. The rise has been helped by more sites reopening, with 68% of group-operated sites open compared to 60% the week before. “Trading at just over 70% of pre-covid norms is an improvement on the week before for those businesses operating, but it’s more steady than sensational,” said CGA director Karl Chessell.“Operators are still taking it cautiously as demand edges up, and that’s been particularly true among restaurant chains.”
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News
Hospitality Leaders Poll: VAT cuts and business rates relief top priorities
An extension to the VAT reduction beyond 21 January and a further freeze in business rates are the top priorities for operators going forward, according to the latest Hospitality Leaders Poll carried out by Lumina Intelligence. Of the 230 operators questioned, all of whom are board level positions or founders of restaurants, pubs and food to go operations, 37% identified the VAT cut as their priority and 34% chose business rates.
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Interviews
Sessions Market: ‘Covid allows us to shape the concept over time’
Launching a food hall business during a global pandemic might not seem like good fortune, but Dan Warne still counts himself lucky in the circumstances.
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Interviews
Bone Daddies co-founder Demetri Tomazos: ‘The rules of the game are being decided by others, all we can do is adapt’
Bone Daddies has never been shy of trying something new. Since its inception in 2012, the then single-site ramen bar has grown into a multi-concept restaurant group, with nine bricks and mortar sites across London under its three brands – Bone Daddies, Shack-Fuyu and Flesh & Buns. So, when the coronavirus crisis forced the business to close its doors back in March, “we saw it as an opportunity to put into practice all the ideas we hadn’t had a chance to do previously,” co-founder Demetri Tomazos tells MCA.
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News
Puttshack back in the swing from 8 August
Puttshack will open its White City site on 8 August followed by its Lakeside venue later in the month. Bookings will be available to make from 3 August. Several safety measures have been introduced, including PPE for staff, who will also be temperature checked before every shift. Hand sanitiser will also be prevalent while clubs and golf balls will be cleaned after every use. For customers, groups will be limited to six people
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News
KFC system sales down 58% in Q2
Yum brands has reported KFC UK system sales fell 58% in Q2 2020 compared to the same period last year. According to the parent company’s latest financial update, sales in the UK business fell 23% for the year to date (to 30 June 2020), a dip that has been attributed to the coronavirus pandemic
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News
Sector investor BGF invests £128m in 24 new companies
Sector investor The Business Growth Fund (BGF) has backed 24 new companies in the first half of 2020, investing a total of £128m in its new portfolio.
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News
KFC releases first animal welfare report
KFC has admitted to poor animal welfare among its suppliers, and has vowed to improve conditions going forward.
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News
BBPA calls for VAT cut on beer as European Commission gives green light
The British Beer and Pub Association has called on Government to include beer in its VAT cut for pubs.
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News
Revolution announces next wave of reopenings
Revolution Bars Group has announced its next phase of reopenings, with eight sites set to open their doors next week.
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News
Seven Dials Market reopens
Seven Dials Market has announced it will be reopening on Friday (7 August) following five months of closure.
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News
Sugoi JPN plans to open ten sites in 12 months
Japanese-Latin street food concept Sugoi JPN has announced plans to open ten new sites in the capital, two of which have already been secured.