All MCA Insight articles in March 2020 – Page 2
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Howard Kennedy: Rules of ‘financial Darwinism’ no longer apply
Unprecedented is a word that’s been used so much in the past few weeks it’s lost of much its intended impact. Yet it’s a reasonable claim from Chancellor Rishi Sunak that the package of emergency measures he introduced last week were indeed without precedent, not only for a Conservative government, ...
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Carluccio’s on the verge administration
Carluccio’s is on the verge of administration, it emerged this evening.
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Young’s places majority of staff on furlough
Young’s will retain all its staff through the coronavirus crisis by placing the vast majority on furlough – qualifying them for the Jobs Retention Scheme’s 80% Government wage subsidy - and reducing board members salaries by 20%.
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Leon launches £1m NHS support campaign
Leon has furthered its support for the NHS with the launch of a not-for-profit campaign, FeedNHS, which will aim to deliver 5,600 hot meals per day to critical care staff across five major hospitals.
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UKH – ‘Self-employed scheme not a total antidote but safety net for many’
“The support announced yesterday is not going to be an antidote for all the issues the self-employed will have, but is a welcome safety net for many,” Kate Nicholls, UK Hospitality CEO has told MCA.
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Budweiser pledges £1m to British pubs
Budweiser UK has vowed to donate at least £1 million to British pubs through its new ‘Save Pub Life’ scheme, intended to support the sector during the coronavirus closure period.
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City Pub Co raises £15m after share placing
City Pub Group has raised £15m from existing shareholders and other institutional investors this morning after placing 30m of new ordinary shares.
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Gordan Ramsay Restaurant Group terminates employee contracts
The Gordan Ramsay Restaurant Group has terminated the contracts of more than 500 staff across its London restaurant portfolio.
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BBPA welcomes self-employed support package
The British Beer and Pub Association has welcomed the Government support package for the self-employed.
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Fulham Shore closes all sites
Franco Manca and The Real Greek operator Fulham shore has announced the full closure of its estate.
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TRG to place Chiquito in administration
The Restaurant Group-owned brand Chiquito has filed a notice of its intention to appoint administrators, suggesting it may be the first big restaurant group to collapse because of coronavirus, the Times reports.
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Domino’s sees acceleration in delivery sales
Domino’s UK has reported an acceleration in delivery sales since the Government enforced closure of bars and restaurants. In the last week, trading for the group has increased, with growth in delivery more than offsetting the lack of collection orders, which typically accounts for around 20% of sales. In line ...
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Pizza Hut Restaurants: ‘We are providing a service to the community’
Pizza Hut Restaurants CEO Jens Hofma has told MCA keeping 48 restaurants operating as delivery-only kitchens was the “right thing to do”, by helping ease the pressure on supermarkets and feeding those in need.
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City Pub Group to raise new equity through placing and open offer
City Pub Group has announced a placing and open offer to raise new equity of £22 million.
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Greene King confirms pay and furlough for all 38,000 staff
Greene King has confirmed pay and furlough arrangements for its 38,000 team members while its pubs remain closed due to coronavirus.
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Self-employed to receive 80% of last three years profits
The Government will pay self-employed people who have been adversely affected by the coronavirus a taxable grant worth 80% of their average monthly profits over the last three years, the chancellor Rishi Sunak announced at today’s press conference.
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Costa, Domino’s and Pizza Hut mass-distribute to key workers and the vulnerable
Costa, Dominos and Pizza Hut have all launched initiatives to deliver free food and drink to key workers and vulnerable communities.
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Hall & Woodhouse cancels rent and suspends loan repayments
Pub company Hall & Woodhouse has cancelled all rent and service charges, and suspended loan repayments for eight weeks across its 180-strong estate.
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Roadchef closes restaurants, puts staff on furlough
Roadchef has now closed all its restaurant units and put 1,000 staff on furlough.
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Hospitality charity calls for food and catering support
Hospitality industry charity Only a Pavement Away has called on the industry for food and catering support.