All MCA Insight articles in May 2020 – Page 2
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News
Pizza Express opens select sites for delivery
Pizza Express has opened 13 sites across London for delivery only.
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News
Young’s cancels dividend, enters coronavirus financing arrangements
Young’s has cancelled its interim dividend for the financial year ending 29 March 2021 as it enters into its various coronavirus financing arrangements.
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News
Pret to reopen further 204 stores next week
Pret is to reopen a further 204 stores for takeaway and delivery next week.
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News
Excluding tronc from the JRS could hit wages by 40%
Hospitality staff on furlough could see their wages hit by up to 40% as the JRS doesn’t factor in tronc, according to a new survey. It found that on average, tronc makes up 25% of the basic pay for hospitality workers. With the JRS paying out a maximum of 80% ...
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Opinion
The PM has offered a glimpse of positivity
If you watched a collection of MPs question the PM on his handling of the coronavirus crisis yesterday, you may have heard a snippet relating to hospitality that will have cheered you up. “We are really trying to go as fast as we can,” said Boris Johnson. “It’s very difficult to bring [back] hospitality with social distancing but I’m much more optimistic than I was, and we may be able to do things faster than I thought.”
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News
AlixPartners: Thoughts turn to a new world order
“With social-distancing measures still in place, reopening the hospitality sector without a plan would be catastrophic,” was the recent stark warning from Kate Nicholls, chief executive of UKHospitality. It is a sentiment echoed by many operators across the sector over the past few weeks, and a reminder of the few days before the lockdown when like-for-like sales declined by 50% or more.
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News
Luke Johnson: “Paid idleness is good for no one”
The government’s furlough scheme is “encouraging idleness,” and should have been cut off sooner, Luke Johnson told attendees at MCA’s The Conversation.
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News
Two-metre distancing needs ‘flexible interpretation’
If the Government refuses to re-evaluate its two-metre physical distancing guideline, it will be up to the industry to interpret the rule “as flexibly as we can,” Jeremy Roberts, Living Ventures co-founder has said.
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News
Trade bodies call for extended flexible furlough
Hospitality trade bodies have called on the Government to extend the Jobs Retention Scheme to October and increase its flexibility for the sector.
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News
Johnson “more optimistic” about reopening of hospitality
Prime Minister Boris Johnson has said that he is “more optimistic” than he once was about getting hospitality up and running again.
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News
Greggs to reopen 800 stores next month
Greggs is set to reopen 800 stores across the UK next month.
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News
McDonald’s to reopen all drive-thru restaurants next week
McDonald’s has announced it will open all its drive-thru stores next week.
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News
Sunak to announce furlough cut-off this week
The chancellor is set to announce a series of changes to the government’s coronavirus support schemes later this week, with a focus on phasing out the Jobs Retention Scheme.
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News
Gail’s to open new Windsor site
Bakery chain Gail’s is set to open a new site in Windsor this week, pushing on with expansion plans despite the coronavirus lockdown.
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News
Deliveroo releases restaurant recovery guidance
Deliveroo has brought together legal, property and restaurant industry specialists in a new initiative to support restaurants in the recovery period.
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News
Nando’s reopens a further 40 sites
Nando’s has announced it will reopen a further 40 sites for delivery and collection this week, taking its total open estate to 94.
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News
City Pub Group plans for outside-only reopening
The City Pub Group has outlined a series of measures to ensure its beer gardens are ready to reopen as soon as possible.
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News
What happens to a premises licence following insolvency?
It is an exceptionally difficult time for the licensed trade. Government measures during the outbreak of the coronavirus have hit businesses hard and its plans for the industry as we emerge from that lockdown will be as equally challenging. Many remain closed and through no fault of their own will not survive.
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Interviews
JKS CEO Jyotin Sethi: ‘There’s a whole new dynamic being established’
The flagship names in the JKS collection, Gymkhana, Trishna and Brigadiers, are not the type of premium restaurants one would expect to readily translate into delivery.
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News
Revolution secures funding for the future
Revolution has extended its debt facilities, which it says will provide it with “sufficient liquidity for the foreseeable future”. Revolution, which operates 74 bars under the Revolution and Revolución de Cuba brands, said NatWest had increased its Revolving Credit Facility from £21.0m to £30.0m until 31 August 2020, at which point it will step down to £24.0m. NatWest has also waived all financial covenant tests at March 2020 and June 2020.