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All MCA Insight articles in March 2020 – Page 7
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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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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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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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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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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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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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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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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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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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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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NewsHelp, support and advice - resources for coronavirus challenges
MCA is pulling together links to resources operators may find useful at this time. Here are several. If you offer similar resources and would like your link to be added to this page, please email james.halliwell@mca-insight.com with the link and details.
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NewsM&B has headroom to suffer ‘significant loss’
Mitchells & Butlers has provided a trading update in light of the Covid-19 outbreak, with like-for-like sales 0.9% for the 24 weeks to 14 March.
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NewsMcDonalds removes dine-in
McDonalds UK has closed all seating areas in its restaurants as of 5am this morning in response to growing concerns about the spread of COVID-19.
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NewsRevolution to cut payroll, hours and staff
Revolution Bars will have to reduce payroll costs, unprofitable trading sessions and ‘variable costs’ such as entertainment and door staff in order to mitigate the impact of COVID-19.
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NewsHawksmoor - “other restaurant businesses will need your custom more”
One of many temporary closure announcements released yesterday, Hawksmoor co-founders Will Beckett and Huw Gott wrote an open letter to their customers.
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NewsRestaurants close dine-in, announce delivery options
Bao, Kricket, Berber & Q, Breddos Tacos and Monty’s Deli are among the restaurant groups to announce temporary closures.
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NewsMarston’s – ‘we will be able to maintain operations’
Marston’s has “sufficient liquidity to maintain operations at a materially reduced level of business,” it has said in a COVID-19 update released today.
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NewsTRG predicts 2020 sales decline of 25%
The Restaurant Group has predicted an overall decline in like-for-like sales of 25% in FY2020 as it has experienced an “increasing and material impact” of COVID-19 in recent weeks.
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NewsMowgli to close all sites
Indian street food group Mowgli is closing all its sites as part its effort to help curb the spread of Covid-19.
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NewsSunak announces £330bn plan for business
Rishi Sunak has repeatedly vowed to do “whatever it takes” to support the hospitality industry, 24 hours after the PM warned the UK to avoid socialising in pubs and restaurants. The chancellor announced a 12 month break in business rates for all, and announced an “unprecedented” package of £330bn in “guaranteed loans to get through this. Any business that needs access to cash to pay rent, suppliers, salaries or stock will be able to access loan or credit on attractive terms.