All MCA Insight articles in June 2020 – Page 9
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News
SSP raises £11m in share placing
SSP Group has raised gross proceeds of approximately £11m through a share placing.
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News
Young’s: ‘Our pubs will reopen in August, but sales won’t normalise until FY22’
Young’s expects to have the majority of its 276 pubs reopened by 3 August, but has said that sales will not return to normal levels until FY22 “when this unprecedented period is at an end.”
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News
Loungers: ‘We will trade profitably post-lockdown’
Loungers has said that it plans to reopen the majority of its sites in July, being well positioned to trade profitably in a post-lockdown environment.
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News
Boparan paid £3.4m for Carluccio’s
Trading at Carluccio’s had recovered before coronavirus struck, but the dramatic sales decline that accompanied lockdown left it unable to continue, an administrators report shows.
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News
Quick decisions, please.
Like the Spice Girls, the industry needs two to become one. The two metre vs one metre debate is just one of the many challenges jostling away in the sector, but it has emerged as a central issue for the financial viability of many operators. As they have explicitly spelled out, a reduction from two to one could literally be the difference between reopening or staying shut. It’s not the only factor slowly extinguishing this vibrant sector, but the debate flared up again yesterday
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Interviews
Uber Eats UK GM Toussaint Wattinne: Double digit growth during lockdown
Operators are seeing double digit growth in delivery after volumes recovered, Uber Eats UK GM Toussaint Wattinne has told MCA’s The Conversation. Wattinne said after an initial fall-off when lockdown came into force, volumes quickly ramped back up, with strong growth for those that remained open. He told the virtual ...
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News
UK Hospitality CEO Kate Nicholls: Flexible furlough needs ‘clear and clever management’
Operators looking to utilise flexible furlough will need to adopt clear and clever management in juggling workers and shift patterns, UK Hospitality CEO Kate Nicholls has said.
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News
Frankie & Benny’s to close a “large number” of sites
The BBC has reported that a “large number” of Frankie & Benny’s restaurants are to close. It said an email to staff sent by the Restaurant Group says many sites are “no longer viable to trade and will remain closed permanently. The Covid-19 crisis has significantly impacted our ability to trade profitably, so we’ve taken the tough decision to close these restaurants now,” the email said.
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News
Hospitality urged to take on insurance firms
The Financial Conduct Authority is set to file a High Court action to clarify the interpretation of business interruption policy wording. It released an update yesterday which identified the representative sample of policy wordings to be examined in the test case, as well as the insurers who have agreed to ...
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News
Just Eat launches legal and food safety advice service
Just Eat has partnered with legal services specialist Markel Law and food safety experts NSF to provide free online advice to its restaurant partners.
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News
Stonegate’s Nick Rockell dies
Stonegate Pub Company property director Nick Rockell has passed away.
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News
Elite Bistros launches meal kit service
Gary Usher’s Elite Bistros group is to launch a nationwide meal kit delivery service this week.
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News
Comptoir has ‘strong balance sheet’ to weather crisis
Comptoir Group is in a “reasonably healthy cash position” with minimal bank debt to service during lockdown.
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News
Insurance companies admit liability over pandemic interruption
Insurance companies have backed down and admitted they may be liable to pay out under business interruption insurance policies, after the Financial Conduct Authority (FCA) challenged them to prove in court that their policies did not apply to the coronavirus pandemic.
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Interviews
Inn Collection Group MD Sean Donkin: Domestic travel will be 'very strong'
The coronavirus pandemic could have an upside for regional UK businesses as Britons opt for staycations, Inn Collection Group MD Sean Donkin has told MCA.
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News
JKS Restaurants CEO Jyotin Sethi: 1m vs 2m difference is ‘huge’
JKS Restaurants CEO Jyotin Sethi has added his voice to calls for the government to adopt one metre distancing, as per WHO guidance, opposed to the current two metre advice.
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Interviews
Pret CEO Pano Christou: We expect a permanent delivery boost
Pret a Manger expects to see a permanent boost in delivery volumes, with the lockdown accelerating its technology development by three or four years, CEO Pano Christou has told MCA’s The Conversation.
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News
Hollywood Bowl ‘remains well positioned for growth’
Hollywood Bowl Group has said it remains well positioned to carry out its growth strategy despite the ongoing impact of the coronavirus.
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News
Fuller’s approves £100m CCFF loan
Fuller’s has approved the issue of commercial paper under the Covid Corporate Financing Facility (CCFF) for an initial loan of £100m.
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News
KFC reaches 700 reopened store mark
KFC has said that as of last week, it has reopened 700 of its 950 stores in the UK and Ireland.