All MCA Insight articles in March 2020 – Page 3
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NewsCarluccio’s staff take 50% pay cut
The entire staff of Carluccio’s is facing a pay cut as the company fights to stay afloat amid the coronavirus crisis.
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NewsShepherd Neame puts 85% of staff on leave
Shepherd Neame is putting the majority of its staff on temporary leave while asked those remaining to take pay cuts.
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NewsKricket: “We’ll come out stronger, leaner and wiser”
London-based restaurant group Kricket will be able to maintain full operations on the other side of the coronavirus pandemic because of Government support measures, co-founder Rik Campbell has told MCA.
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NewsByron hires KPMG to access emergency funding
Byron has hired KPMG to explore options for accessing emergency funding and to shore up its balance sheet, Sky News reports.
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NewsBritish Land releases small tenants from rental obligations
British Land has released its smaller retail, food & beverage and leisure tenants from their rental obligations for three months (April to June).
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NewsJDW agrees to pay furloughed staff
JD Wetherspoon has reversed a decision to withhold staff pay until a government rescue package kicks in.
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NewsDeliveroo speeds up cash flow to restaurants
Deliveroo has launched a new rapid payment system so restaurants can access cash made from deliveries inside 24 hours. The new service is completely free of charge and Deliveroo will cover any increase in banking charges. It will be available for at least the next three months. “We want to do everything possible to support our restaurant partners,” Will Shu, founder and CEO of Deliveroo, told MCA.
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NewsUnited We Stand - Kate Nicholls on the coronavirus crisis
You’ve put questions to the government on its wage relief - what answers have you received so far? We got the much-needed confirmation that the Government will roll-out a Job Retention Scheme providing grants to cover 80% of wages. We had been pushing the Government very hard on this and it was absolutely vital that support was provided to ensure that employees would still receive money and businesses supported. We are still awaiting detail on the scheme
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NewsUnited We Stand - Jonathan Downey: The rent moratorium buys us some time. What to do next?
Last week I proposed that the Government introduce a forfeiture moratorium to stop landlords from repossessing commercial premises if businesses are unable to pay their rent when the quarterly rent period came up, which is today (25 March). It has listened and this will become legislation tomorrow. As a result, business owners will now have some proper time to work out how best to push through this and bounce out the other side.
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NewsHospitality innovators shine in times of crisis
In this unprecedented time of crisis, it’s incredible and heart-warming to see creativity once again rise from the hospitality sector.
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NewsGrind sees 5x growth in online business because of coronavirus
As a result of the Government enforced lockdown, coffee-brand Grind has seen substantial growth in orders on its online shop, David Abrahamovitch, Grind CEO, has told MCA.
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NewsJDW asks suppliers for payment moratorium
JD Wetherspoon boss Tim Martin has asked suppliers for a moratorium on payments until the business’ massive pub estate reopens to the public.
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NewsBoxpark: 'You can't sit in your ivory tower and collect your cheque'
Boxpark CEO Roger Wade has said that to ensure SME’s survive the coronavirus lockdown, landlords must work together with tenants and make sacrifices.
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NewsKerb: 'Lack of support for self-employed is our biggest anxiety'
Kerb, the operator behind six of London’s street-food markets, has announced a multi-faceted support campaign for its traders, but has said that further Government measures are needed to support the self-employed.
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NewsBottle shops within breweries exempt from closures
Licenced shops selling alcohol, including those within breweries, are exempt from the UK shutdown, the government has clarified.
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NewsStonegate gives regulars a chance to bring the pub home
Stonegate has launched a ‘Pub In A Box’ competition to cheer up its locked down regulars. Supported by Diageo, anyone looking to enter can do so here. “In these tough times community spirit is everything and whilst our doors are closed, we will do all we can to support our customers and team,” said Alan Armstrong, head of marketing at Stonegate.
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NewsGrind: 'No one will lose their jobs as a result of the virus'
Grind, the restaurant, coffee shop and bar brand, has vowed none of its staff will lose their jobs as a result of the virus.
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NewsShaftesbury: Supporting tenants the ‘right thing to do’
Shaftesbury, the West End landlord, is supporting tenants with rent deferral, to help ease their short-term cash flow issues so they can resume trading once the current restrictions are lifted.
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NewsSupportive measures for self-employed expected imminently
The chancellor Rishi Sunak will be making further announcements on supportive measures for self-employed workers “in the coming days,” he said in the House of Commons yesterday afternoon.
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NewsSSP: Sufficient liquidity for year-long trading decline
SSP Group expects to see an ongoing decline in profits until the end of FY2020 but will take significant action to ensure its survival, it has said in a trading update released today.