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All MCA Insight articles in March 2020 – Page 6
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NewsD&D London and Corbin & King latest big names to close
D&D London and Corbin & King are the latest operators to close their doors amid the coronavirus outbreak. Last night, D&D London announced the closure of all its 24 sites with immediate effect, and C&K announced the closure of its seven London sites via Twitter.
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NewsEgo – ‘lack of clarity has forced us to close’
Ego Restaurants will become the latest operator to close its sites this afternoon following a 60% drop in revenue over the past few days, CEO James Horler has told MCA.
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Analysis & Insight1 in 10 will continue to visit pubs and restaurants
More than one in ten will continue visit pubs and restaurants “at least as often” to show support to the sector, CGA’s latest snap poll has revealed.
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NewsCoronavirus closures continue
Brasserie Bar Co., JKS Restaurants, Darwin & Wallace, Smith and Wollensky and Cosmo are the latest restaurant and bar groups to close all of their sites in response to the coronavirus outbreak.
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NewsDowney: ‘One million hospitality jobs lost this week’
As many as one million hospitality jobs have been lost this week, with groups laying off on average 80% of their staff, according to a straw poll conducted by Street Feast founder Jonathon Downey.
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NewsAzzurri shuts entire estate
Azzurri Group is to close all Ask, Zizzi and Coco di Mama restaurants from today, CEO Steve Holmes has announced.
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NewsLondon faces lock down as tube stations close
Up to 40 stations on the London Underground network are to be shut as the Prime Minister prepares new restrictions in the capital to reduce the spread of coronavirus.
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NewsShepherd Neame directors take 20% pay cut
Shepherd Neame said it was inevitable trading “will deteriorate rapidly” as it introduces a number of precautionary measures.
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NewsLoungers closures a potential scenario
Loungers has said the partial or complete temporary closure of all of its sites is a potential scenario.
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NewsYoung’s to introduce rent holiday for tenants
Young’s will continue to trade its pubs as “a place of sanctuary in these uncertain and worrying times”.
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Analysis & InsightBDO: ‘The contagion into a deep recession will happen very quickly’
Widescale job losses in the restaurant and bar industry will plunge the UK economy into a deep recession, BDO partner Peter Hemington has told MCA.
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Analysis & Insight
Goodbody on M&B, TRG, Marston’s
Mitchells & Butlers, Restaurant Group and Marston’s all seeing a significant impact from COVID-19
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News
Hansen: ‘Mobilise workforce to provide meals for vulnerable’
The hospitality workforce facing layoffs should be mobilised to provide a subsidised meal service for the elderly and vulnerable stuck at home during the covid-19 crisis, corporate advisor Peter Hansen has told MCA.
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Analysis & Insight
Morgan Stanley on M&B
Jamie Rollo of Morgan Stanley gives his verdict on Mitchells & Butlers’ latest update.
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NewsYo!, Prezzo and Byron among latest casual dining closures
Yo!, Prezzo and Byron are some of the latest casual dining operators to temporarily close their doors.
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NewsGreggs takeaway only
Greggs will close all of its seating areas as part of an effort to restrict the spread of COVID-19.
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NewsNow is the time to do whatever it takes - and save jobs
“Whatever it takes” is a phrase that will haunt Rishi Sunak if he doesn’t do exactly that to save the economy from meltdown. On Tuesday, a lifetime ago, he promised guaranteed loans for businesses to pay rent, suppliers, salaries or stock – which is something. But he made no specific provision for employees. He needs to do that today.
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NewsWhitbread to close restaurant estate
Whitbread is the latest hospitality giant to announce the temporary closure of its restaurant sites amid the COVID-19 pandemic.
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News‘Realistically, landlords are at the back of the queue’
Calls are growing for the Government to create a six-month lease forfeiture moratorium to prevent landlords from evicting operators for non-payment of rent.
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NewsDeltic – ‘we wont close until our employees are supported’
Deltic Group will continue to operate until the Government announce a sufficient support package for its employees, Peter Marks, Deltic CEO, has told MCA.