All MCA Insight articles in July 2020 – Page 8
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NewsChilango gives notice of intent to appoint administrators
Burrito chain Chilango has given notice of its intention to appoint administrators, in a further blow to bond-holders.
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NewsD&D receives 963 applications for single role
The stark reality for employment in the hospitality industry has been laid bare by D&D London receiving almost 1,000 applications in 24 hours for a receptionist position at its 20 Stories restaurant in Manchester. D&D said it had received 963 online applications for the role before it was closed due to the “unprecedented” interest, which it said showed the dearth of hospitality roles currently available in the industry, as well as the huge rise in unemployment caused by the lockdown.
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NewsEggslut opens second UK outlet
Eggslut has opened its 10th location worldwide and second UK outlet in London’s Fitzrovia, at 19 Percy Street. The two level restaurant from the cult brand has worked with street-artist Woskerski and installation experts Bompas and Parr on the interior, and teamed up with regular supply partners Clarence Court eggs, Bread Ahead bakery and Nude Coffee Roasters. The site has launched with the now-familiar social distancing measures, cashless payment, a one-way walking system and plastic screens at tills. All staff will wear plastic gloves and masks.
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NewsOne in three hospitality workers could lose jobs, warns PWC
PWC has warned that one in three hospitality workers could lose their jobs by the end of the year. It said that workers in “accommodation and food services” were most at risk because of the impact of the coronavirus on trade and the high number of furloughed staff, and predicted that 32% of furloughed staff face redundancy.
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NewsDeliveroo launches table service element to its app
Deliveroo has added a table service element to its app so customers in restaurants in pubs and bars can order their food via the Deliveroo app, reducing contact between staff and customers. Over 2,000 restaurants are already using it, and there is zero commission on any orders placed. Deliveroo also said it was seeing a “steady growth” of pubs and bars on its platform, including chains like Mitchells and Butlers, Greene King and Brewdog.
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NewsDavid Read: Making money whilst building back from 60% of historic revenues
Ask anyone in food manufacturing what the key to EBITDA is, and the answer will almost always come back as “managing gross profit”. But of course, everyone does that already, don’t they? Well, right now it feels like pulling the statement “managing gross profit” apart a bit is a worthy exercise, as the deltas are surprising. Just take for example a pre-coronavirus dining business with a 6% EBITDA margin on £10m revenues. Add just 3% points to GP margin and the EBITDA increases by 50% to £900k. On the other hand, starting from the same 6% point, a 50% increase in sales is required to hit the £900k.
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NewsHow Azzurri Group went into administration
One of the star performers in a competitive casual dining sector, and an even more competitive Italian subsector, Azzurri Group was formed out of the break-up of Gondola.
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NewsHospitality Leaders Poll: Operators vote against passing on price cuts
Anyone calling for restaurants to pass the VAT cut onto customers is likely to be disappointed, according to the latest weekly Hospitality Leaders Poll by MCA/HIM. Despite big brands like Starbucks, Nando’s, KFC Pret and JD Wetherspoon saying they would be cutting prices, of the 265 respondents to the weekly poll, all of whom are board level positions or founders of restaurants, pubs and food to go operations, 85% said they would not be passing on the cut.
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OpinionHuge events, important people and big decisions
Where to begin? The events of the last four months have been disastrous for everyone, from the smallest SME to the global economy, not to mention the general public. And the face of hospitality has significantly changed. Since lockdown lifted I’ve been served by people in branded face masks, full face transparent visors and had my temperature taken with a thermo-imaging gun. I’ve been barked at for stepping the wrong way, smiled at for stepping the right way
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NewsFive Guys UK CEO John Eckbert: ‘The rent issue comes down to your own moral compass’
The existing rent model doesn’t accommodate for a period of forced closure, so dealing with accrued rental debt comes down to a question of morals, The Conversation has heard.
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NewsLeon to open four new motorway sites
Leon has announced the opening of four new restaurants at motorway services in the next few months.
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NewsFace coverings mandatory when buying food or drink to takeaway
Face coverings will be mandatory when buying food or drink to takeaway from cafes and shops, new government guidance has confirmed.
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NewsBoxpark launches track and trace digital ‘black card’
Boxpark has partnered with mobile payment company Pass Kit to launch an integrated pre-registration system.
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NewsPizza Express to reopen a further 150 sites
Pizza Express is set to open a further 150 restaurants by the beginning of August.
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NewsCalories counts on menus under consideration
Restaurants could face new requirements for calorie counts on menus, under far-reaching proposals being considered by the government.
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NewsExtend insolvency act to save businesses - RSM
Vast swaths of consumer businesses face collapse unless Chancellor Rishi Sunak extends the insolvency legislation beyond September, RSM has warned.
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NewsGreene King makes £2m in loans to free-trade pubs
Greene King has made £2m in support loans available to its 6,500 independent free-trade pubs.
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NewsWhitbread to cut 250 jobs
Whitbread may cut 250 head office jobs as part of a proposed restructuring, the hotel and restaurant operator has announced.
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NewsMarston’s/Carlsberg JV delayed
Completion of the merger of Marston’s brewing company and Carlsberg UK will be delayed pending a review by the Competition and Markets Authority (CMA).
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Analysis & InsightThe rise and fall of Coffeesmiths Collective
One of the more intriguing growth stories of the past ten years, Coffeesmiths Collective is the latest business to begin insolvency proceedings, as parts of the business enter liquidation.