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All MCA Insight articles in July 2020 – Page 7
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NewsHugh Osmond to return to stock market with $400m float
Sun Capital Partners founder Hugh Osmond is set to embark on a stock market comeback in listing a cash shell to target a UK company affected by the coronavirus crisis.
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Analysis & InsightPre-bookings rise as consumers open to mandatory deposits
Consumers are putting much more planning into eating and drinking out post-lockdown, CGA’s new Consumer Pulse survey has found.
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NewsAzzurri latest to announce closures after rescue deal
The Azzurri Group has been acquired by TowerBrook Capital Partners via a pre-pack administration process, but 75 sites will close. Azzurri, which is made up of 301 restaurants including Zizzi, Ask and Coco di Mama, said when the coronavirus hit it acted “swiftly to protect its employees and customers, deciding to close all restaurants ahead of the government’s lockdown. Azzurri took all possible steps to protect the financial position of the business by ceasing all capex, renegotiating rental payments and food supplier costs and furloughing all restaurant staff and non-critical central staff.”
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NewsBowling alleys and live music venues get green light
Bowling alleys and live music venues will be allowed to open with social distancing from next month, but nightclubs will have to wait.
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NewsVapiano UK bought by Savour-backed team
Vapiano’s UK restaurants have been bought by a group of investors led by former Vapiano director Mario Bauer in partnership with the Savour Group in a deal that safeguards 209 jobs.
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InterviewsPunch CEO Clive Chesser: We need to be ready for more worst case scenarios
Running a pub company when the pubs are closed was always going to be difficult, Punch Pubs & Co CEO Clive Chesser admits, describing the coronavirus crisis as the “most challenging period of my career to date”.
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Analysis & InsightCoffer Peach: Trading at 60% of pre-covid levels
Managed pub, bar and restaurant groups that reopened in the first week post-lockdown saw trading up from reopening weekend, according to the latest Coffer Peach Business Tracker.
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NewsSir Patrick Vallance: ‘Absolutely no reason’ to stop working from home
Industry hopes of a return to work to boost hospitality spending were dealt a blow yesterday after the chief scientific advisor advised against it.
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NewsAzzurri in advanced talks over pre-pack sale
Azzurri Group could be on the verge of a pre-pack administration which would involve the closure of 20-25 restaurants, The Times reports.
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NewsColliers: Crisis forcing ‘fundamental restructuring of the sector’
Casual dining spending in the UK will fall by more than £20bn this year, according to estimates Colliers.
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NewsPizza Express to exit up to 75 sites in CVA
Pizza Express is expected to close up to 75 restaurants as part of a financial restructuring at parent company Hony Capital.
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InterviewsAlchemist CEO Simon Potts: Safety measures more important now than ever
As the number of consumers returning to bars and restaurants increases, strong and visible safety measures will be more important than ever, The Conversation has heard.Speaking at the event, Alchemist CEO Simon Potts said that although it is undoubtedly positive news that the Government has started encouraging consumers to return to the sector, this next wave of consumers may not be so fearless as the first.
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NewsShelley Sandzer and Gerald Edelman launch corporate finance firm
Shelley Sandzer, the specialist leisure property agency, and Gerald Edelman, a mid-market advisory firms, are launching a new business, Shelley Sandzer Corporate Finance (SSCF).
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NewsCMA’s decision on Amazon/Deliveroo deal ‘suffers from a critical flaw in logic’
The Competition and Markets Authority’s revised provisional findings that the Amazon/Deliveroo deal will not result in a substantial lessening of competition “suffer from a critical flaw in logic,” Domino’s has said.
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NewsLoungers accelerates reopening, permanently closes two sites
Loungers is accelerating its reopening programme, with plans to have the full estate open by the beginning of next month.
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NewsOperators lower prices after VAT cut
Starbucks, Nando’s, KFCm Pret and JD Wetherspoon have joined McDonald’s in saying they will pass some or all of the VAT cut to customers.
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NewsDowney’s Dinerama to ‘close for good’ over rent impasse
Jonathan Downey’s Dinerama will reopen this weekend, but faces the likelihood of closing for good after 26 September, having failed to agree a deal with the landlord.
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NewsConfusion over face coverings for cafes
Confusion ensured today after ministers gave conflicting messages over whether food to go and coffee shop outlets will be included in the new law on face coverings.
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NewsBistrot Pierre sold in pre-pack, six restaurants to close
Bistrot Pierre has been sold in a pre-pack administration with six restaurants to close.