All news articles – Page 376
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NewsTen Entertainment sees post-lockdown profits
Ten Entertainment Group has seen a “strong start” to initial post-lockdown trading, remaining profitable and cash generative since reopening in August.
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NewsPM confirms tighter restrictions for hospitality
Pubs, restaurants and bars could be subject to a 10pm curfews and table service-only for up to six months, prime minister Boris Johnson has announced.
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NewsWahaca to write off £25m in restructure
Wahaca is to write off £25m of debt as part of financial restructuring, Sky News reports.
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NewsBig Mamma launches delivery brand Napoli Gang
Big Mamma, the operator of Gloria and Circolo Popolare, is launching a delivery-only brand, Napoli Gang.
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NewsSourced Market makes regional debut in Leeds
Sourced Market has opened at Leeds Skelton Lake Services, the new M1 service station from Extra MSA Group.
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NewsThe Times: 10pm curfew a compromise between rival ministers
Government ministers Michael Gove and Matt Hancock were pushing for a full shutdown of hospitality, but Boris Johnson was swayed by appeals of the economic devastation that would cause by chancellor Rishi Sunak.
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NewsBoparan swaps Carluccio’s for Slim Chickens in Trafford Centre
Boparan Restaurant Group (BRG) is to open the ninth branch and largest Slim Chickens restaurant to date in Manchester’s Trafford Centre in November.
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NewsGove: You should work from home if you can
People will be asked to work from home if they can, government minister Michael Gove has said, in a U-turn which deals a further blow to city centre-based operators.
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NewsWetherspoon proposes 450 airport job cuts
Wetherspoon has announced that 400-450 jobs at its airport pubs are at risk of redundancy.
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NewsWhitbread to cut 6,000 UK jobs
Whitbread will cut up to 6,000 jobs across its hotel and restaurant brands as it sees sales plummet because of the coronavirus crisis.In an update on the Stock Exchange today (22 September), the Brewers Fayre parent company has reported total sales for the six months to 27 August 2020 were down 77.2% year-on-year as a result of the forced closure of most of its sites.
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NewsTRG revises remuneration policy
The Restaurant Group has announced its intention to replace its performance-based long-term incentive plan (LTIP) with a restricted share plan. The company’s existing remuneration policy is set to expire in 2021, but given the “exceptional events” of 2020 related to the pandemic, the committee has decided to accelerate its review and has recommended a new plan “which is better aligned to the long-term interests of the company and its shareholders.”
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NewsStonegate extends £36.5m tenant support package
Stonegate Pub Company has announced further support for its pub partners, creating an overall coronavirus support package in excess of £36.5m. Within its lease and tenanted business – Ei Publican Partnerships – the pubco will offer rent reductions of 30% in October and 20% in November for tied publicans operating substantive agreements in England.
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NewsCEBR: ‘Curfew will reverse economic recovery’
The implementation of a 10pm curfew in London could reverse the country’s economic recovery, the Centre of Economics and Business Research has warned.
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News10pm curfew ‘another crushing blow’ for hospitality
Pubs, bars and restaurants across the country will be subject to a 10pm curfew from Thursday, the Prime Minister is expected to announce today.
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NewsWhitty: Virus is all of our problem
Chief Medical Officer Chris Whitty has warned the UK has “in a bad sense, turned a corner, only very recently”.
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NewsHancock refuses to say if pubs will be ordered to close
Health secretary Matt Hancock has refused to guarantee that pubs will be open this weekend, as the government considers new coronavirus restrictions.
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NewsSales dip after end of EOHO
Food and drink sales fell back in the week following the end of the Eat Out to Help Out scheme, according to the latest CGA data.
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NewsSoho Coffee makes rail debut with TRG
Soho Coffee Co is partnering with The Restaurant Group to open in Liverpool Street Station.
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NewsThai Leisure Group enters second CVA in a year
Thai Leisure Group’s CVA (company voluntary arrangement) was approved last night, securing 90% support from creditors.
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NewsVarious Eateries to enter AIM with market cap of £65m
Various Eateries, the Hugh Osmond-backed operator of the Coppa Club, has confirmed its proposed admission to trading on AIM, with a share placing to raise around £25m.