By M&C Report team2010-09-15T13:34:00+01:00
Q1 is traditionally the quietest quarter in licensed retail; it is when tenants are most likely to hand back the keys. Sadly, without any additional government support and with the rent moratorium ending in March (with 15 months of rent due in some cases), many private companies could run out of liquidity. Many sources have suggested a 20-30% supply reduction. We are more optimistic than this due to corporate activity. The speed and direction of capital reallocation will be critical to this, in our view.
When discussing the enduring success of the Loungers business, “well-hedged” is not a phrase CEO Nick Collins says he would necessarily use, but he recognises it’s a good one.
Loungers saw its turnover fall 33% to £53.5m in the 24 weeks to 4 October, but still managed to turn a profit despite a raft of restrictions.
2020 will go down as a memorable year for all the wrong reasons . No words can express the devastation felt across hospitality, particularly the recent developments which introduced a de facto lockdown in the shape of Tier 4 across swathes of the country. Bookings were eviscerated, supplies were wasted, ...
NewRiver CEO Allan Lockhart has said the business has proved to be “resilient” during a period of “unprecedented disruption”. Announcing its half year results, he said the business had seen a “significant increase in leasing activity, with over half a million square feet of transactions completed, which has led to occupancy in our retail portfolio increasing to more than 96% during the period. This reflects both our affordable rents and focus on essential and convenience retail.
Less than 10% of operators are “very confident” they will reopen on 3 December, according to the latest Hospitality Leaders Poll carried out by Lumina Intelligence for MCA, the Morning Advertiser and Big Hospitality. A further 15% were “not sure at all”, though 33% are “fairly sure” they will reopen once the restrictions are lifted. Meanwhile the industry is split over the future, with 32% thinking they will go bust if existing lockdown measures continue into Spring. While 38% are unsure, just 30% are confident they will survive as a business should things continue as they currently are.
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