All MCA Insight articles in June 2020 – Page 6
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Analysis & InsightIndustry shutdown represents 32.7% of UK’s lost GDP
The near total shutdown of the hospitality sector was responsible for some 32.7% of lost GDP for the country in March and April.
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NewsAdmiral Taverns to offer tenant support to April 2021
Admiral Taverns’ tenants are being offered tapered rent support from reopening all the way through to April next year, the company has announced.
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NewsRichard Caring: Hospitality faces wave of redundancies once furlough ends
Richard Caring has warned that Boris Johnson’s “weakness and indecision” on reopening restaurants, pubs and cafes will cost more than two million workers their jobs.
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NewsHospitality Leaders Poll: Majority of operators will need large financial support to reopen
Sixty five percent of operators will need a huge chunk of their rent reduced or covered by the government in order to reopen before the end of the year, according to the latest weekly Hospitality Leaders Poll by MCA Insight/HIM. Asked ‘What would be the minimum amount of rent reduction/support you could operate with over the next six months?’, 35% said they would need between 41-60% to be covered or reduced. Another 18% said they would need between 61-80% and 15% said they would need between 81-100%.
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OpinionWhere does this embattled industry go from here?
I despise the coronavirus. To paraphrase R.E.M., I do not feel fine about the end of the world as we know it. Of course it’s not the end of the world altogether, however bad things seem right now everything could be worse. I’m fairly sure North Korea was about to blow everyone up with nuclear bombs a few months back. It could have been longer though, keeping track of time these days is tricky.
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OpinionDominic Walsh: On the Marston’s and Carlsberg JV, and Just Eat
Phew, the relief! For the first time since the lockdown here was a story that was not about coronavirus. And what a story: Marston’s to exit brewing. Well, almost. When its £780 million brewing joint venture with Carlsberg was announced, I described it as an acceleration of “the redrawing of Britain’s brewing landscape” and I see no reason to change my view.
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NewsRobinsons to taper rent discounts from July
Robinsons Brewery, which owns more than 260 pubs across north Wales and England, will begin tapering its rent discounts from July.
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News
Punch offers tenants 75% rent credit for July
Punch Pubs is offering tied pub tenants three quarters (75%) rent credit for July, reduced each month beyond autumn.
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NewsGreene King reveals ‘Pub Safe’ operating guidelines
Greene King has unveiled details of how its pubs will look and operate ahead of them re-opening, under its set of ‘Pub Safe’ promises.
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NewsLPQ sold in pre-pack with 10 stores closed
Le Pain Quotidien’s UK operations have been sold in a pre-pack administration deal, Sky News reports.
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NewsM&B extends lending facilities by £100m
Mitchells & Butlers has extended its lending facilities by £100m, giving it access to liquidity of £250m through to 31 December 2021.
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NewsCity Pub Group preps ‘reset, streamlined’ business
City Pub Group will reopen with a “reset, more efficient, streamlined business”, executive chairman Clive Watson has told the markets.
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NewsJust Eat Takeaway.com snaps up Grubhub for £5.75bn
Just Eat Takeaway.com has further consolidated its position in the global delivery market by buying US company Grubhub for $7.3bn (£5.75bn).
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NewsUK Hospitality CEO Kate Nicholls: Rent code of practice a “vehicle to deliver timeout”
The government’s proposed code of practice on rent negotiations is not intended to be an end in itself, but a vehicle towards further action to address the issue, UK Hospitality CEO Kate Nicholls has said.
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InterviewsChop’d MD Eddie Holmes: We can’t open without rent solution
Whether it be the end of June, the beginning of July, or tomorrow, for Chop’d managing director Eddie Holmes, the government’s proposed hospitality reopening date is irrelevant. For Holmes, it’s not a question of when, but how, and without a workable solution to the rent issue, the 14 Chop’d sites across the UK won’t be opening any time soon.
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NewsDavid Coffer: Threats and Collateral damage
To paraphrase Mr Spock of Star Trek when he landed on a strange planet, “there’s life, but not as we know it”. Undoubtedly, that phrase will ring true in the post-Covid-19 world. I have been comprehensively immersed in the leisure industry for 55 years as a specialist property adviser, operator and property investor. The coronavirus has posed more threat and collateral damage by far in the last three months than in all of my encounters with eight recessions, banking collapses and statutory changes such as The Counter Inflation Act, combined, in my career thus far.
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NewsDraft guidelines on rent circulating
A document purporting to be a draft of guidelines relating to future arrangements between landlords and tenants has emerged. However, it makes clear that it is a work in progress, with the first line reading ’DRAFT – NOT GOVERNMENT POLICY’ It goes on to say the code is ’a voluntary Code which seeks to set out principles and good practice in how to balance the interests of landlords and tenants reasonably and responsibly, through as swift and efficient means as possible.’
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NewsRestaurant Group CVA is ‘reshaping the face of casual dining’
The Restaurant Group’s announcement yesterday that it is proposing a CVA for it’s long-troubled leisure division was a major, if not entirely unsurprising development, in a coronavirus-dominated news cycle. Under the proposals, the company voluntary arrangement will allow for a restructure of the estate, which will see it exit 125 ...
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NewsTwo thirds of English pubs will stay closed with two metre distancing
Unless the government reduces social distancing from two metres to one, 25,000 thousand English pubs, or two thirds of the overall total, will be forced to stay closed with no hope of reopening, according to the BBPA. It said under the existing guidelines, only one third, or 12,500 pubs, will be able to reopen. If the guidelines were reduced to one metre, 75%, or 28,000 of England’s pubs would be able to re-open.
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NewsTed Schama: Fish differently
Recently, in these extremely stormy coronavirus conditions, operators have had to make some tough choices. Do they sit the storm out and hope for the best, or fix their nets and think of new fishing techniques? The decisions made will define the forthcoming period for the hospitality industry. There are ...