All news articles – Page 375
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NewsIndustry contribution to infection ‘negligible’
A tiny proportion of operators (2%) believe the hospitality industry has been a “major source” for rising rates of coronavirus, Lumina Intelligence’s Hospitality Leaders Poll reveals.
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NewsShaftesbury collects 41% of rents in H1
West End pub and restaurant landlord Shaftesbury has said it remains confident in the long-term prospects of its portfolio, despite collecting less than half of its owed rent in the past six months.
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NewsDeliveroo enters IPO talks
Deliveroo has begun preliminary talks to explore an initial public offering (IPO), Bloomberg reports.
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NewsVarious Eateries enters AIM
Various Eateries, the Hugh Osmond-backed operator of the Coppa Club, has entered its first day of trading on the AIM today (25 September).
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NewsDebt enforcement moratorium extended
The government will extend the debt enforcement moratorium until the end of the year, business minister Lord Callanan has announced.
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NewsFirst night of curfew passes ‘largely without incident’
The first night of the 10pm hospitality curfew in England and Wales has passed “largely without incident,” according to Sky News. As part of an investigation into how the curfew was handled in London and Birmingham, Sky reported overall compliance, streets adorned with “fluorescent vests and jackets of enforcement officials” and “eerily quiet” streets at 10pm.
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NewsChancellor’s Winter Economy Plan: ‘Job Support Scheme,’ ‘pay as you grow’ and VAT cuts
Businesses forced to reduce employee working hours because of the coronavirus crisis will be legible for government wage subsidies of one third of lost pay, The Chancellor has announced. To continue supporting businesses with cashflow, bounceback loans will be merged with a new ‘pay as you grow’ scheme and government guarantees for CIBLS will be extended for up to ten years, and the deadline for all loan schemes will be extended until the end of 2020 whilst government works on a “new successor loan guarantee programme” to start in January 2021. The VAT bill, due to be paid in March 2021, will instead be spread over 11 smaller payments without interest for those businesses who need it, and the Chancellor has cancelled the planned increase in VAT (back to the standard rate of 20%) set for January, with VAT remaining at the reduced 5% rate until 31 March instead.
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NewsLeon appoints Ayerst MD
Leon has appointed Nick Ayerst, former MD of TRG Concessions, as managing director.
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NewsSubway ‘exploiting eviction moratorium’
Subway is failing to pay its rent, despite continuing to take payments from franchisees, landlords have claimed.
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NewsVirus outbreak halts production for Greggs
Greggs has said a “small number” of staff at its factory near Newcastle have tested positive for coronavirus with production temporarily shut down.
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NewsQuarter believe business will fail
A quarter of hospitality businesses (23%) believe they will fail by the end of the year without further Government support.
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NewsM&B 'continues to outperform the market'
Mitchells & Butlers achieved like-for-like sales growth of 1.4% in August, as a result of the Eat Out to Help Out scheme and the reduction in VAT.
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NewsJulian Metcalfe lambasts PM’s ‘exaggerated nonsense’
Itsu CEO Julian Metcalfe has savaged Prime Minister Boris Johnson for “spouting Churchillian nonsense” and called a new six-month call to work from home “criminal”.
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NewsSunak to announce wage subsidy scheme, VAT cuts and new loans
Chancellor Rishi Sunak is set to announce a multibillion-pound package of economic support including wage subsidies for part for part-time workers, VAT cuts and more loans for struggling businesses.
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NewsGiggling Squid to open in Cambridge
Thai restaurant group Giggling Squid is set to open a new site in Cambridge next week.
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NewsGusto CVA sees four sites close
Gusto Italian has completed a CVA process which secures the future of the business and 600 jobs, but results in four restaurant closures.
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NewsUnlicensed premises exempt from table service rule
The ‘table service only’ rule only applies to licensed operators, the government has clarified.
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NewsRaab: ‘We can’t rule out second lockdown’
The government can’t rule out a second lockdown if the latest coronavirus restrictions fail to curb infection rates, foreign secretary Dominic Raab has said.
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NewsSunak considers furlough replacement programme
Chancellor Rishi Sunak is drawing up plans for a new wage subsidy programme to replace the Jobs Retention Scheme next month, the Financial Times reports.
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NewsSSP sales continue to struggle
SSP Group has predicted a bleak H2 outlook as the coronavirus crisis continues to hit sales.