All MCA Insight articles in November 2020
View all stories from this issue.
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Analysis & InsightHospitality Leaders Poll: 41% support lockdown
Hospitality is split over the lockdown, according to the latest Hospitality Leaders Poll carried out by Lumina Intelligence for MCA, the MA, Big H and Restaurant. Though 41% of operators support the current lockdown, 43% are opposed to it with 17% undecided. ”I get why they’ve decided to do it, but want to know what support is going to be available other than loans, and the exit strategy, is there one?” said one multi-site operator, while another said they supported the move but it was a “month late”.
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Analysis & InsightRestrictions closes 25k venues
The UK now has nearly 25,000 fewer licensed premises open than before lockdown, the latest Market Recovery Monitor from CGA and AlixPartners reveals.
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NewsCity Pub Group appoints Toby Smith as COO
City Pub Group has appointed Toby Smith into the newly created role chief operating officer from today.
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NewsListed groups rally over vaccine news
Listed pub and restaurant groups have welcomed news of progress in a coronavirus vaccine with cautious optimism on Monday.
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NewsThe Inn Collection lands Whitby site
The Inn Collection Group has landed a third Yorkshire site, with prime Whitby venue The Stables at Crossbutts.
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NewsMcDonald’s cooks up McPlant burger
McDonald’s is to launch its own meat-free burger the McPlant and launch its own plant-based products.
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NewsReal Living Wage rise
The Real Living Wage (RLW) has risen to £9.50 in the UK and to £10.85 in London, an increase of 20p and 10p per hour respectively.
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NewsOperators call for EIS incentives to help rebuild sector
London hospitality operators including The Piano Works, Kerb and bar business Lolipop have called on government to adapt the Enterprise Investment Scheme (EIS) to help rebuild the sector. In a letter to chancellor Rishi Sunak seen by City AM, the businesses outlined proposals of an “equity alternative” to the Coronavirus Business Interruption Loan Scheme, which would use tax relief to incentivise investors to support industry recovery.
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NewsYoung’s: Toughest times in 189 years
Young’s CEO Patrick Dardis has described the last six months as the toughest period in its 189 years. In its half year H1 report for the 26 weeks to September 2020, it said sales were £55.1m, compared to £168.2m the year before, with the business recording an adjusted operating loss before tax of £19.2m. However it said was encouraged by the fact that sales since reopening on 20 July were 84% of last year. “Our business recently celebrated 189 years and the last six months has been one of the toughest periods in that incredible journey,” said Dardis.
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NewsWhitbread could halve job cuts
Whitbread may halve the number of jobs cuts it announced, due to the extension of the furlough scheme and vaccine breakthrough, The Times reports.
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Analysis & InsightTiering system prompts sector-wide sales dip
The implementation of the tiering system caused all parts of the sector to suffer last month, with sales dropping across pub, bar and restaurant groups, according to CGA. The latest Coffer Peach Business Tracker for October found that with 83% of group-owned sites open, down from 88% in September, total sales across the managed sector were down 33.9% year-on-year, a further fall from September’s sales which were 20.3% down on 2019. Like-for-like sales in trading businesses were 28.9% below October last year, compared to 14.7% down in September.
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InterviewsMeatliquor co-founder Scott Collins: ‘We’ll pick up stronger than we left off”
In February, Meatliquor was set for a record 2020. Eight months into the financial year, sales across the burger concept’s eleven sites were already higher than in any other, and with four months to go it was set to see unprecedented year-on-year revenues. “It was going to be a boom year,” co-founder Scott Collins tells MCA. “But that was all wiped out.” Describing the implementation of tier 2 across the capital as its “tipping point” for the drop-off in dine-in, the business nevertheless continued to remain viable through its delivery, click and collect and new meal kit offer via at-home food delivery company Great Food 2U. And given the opportunity for a pause in its everyday operations, Collins explains that its priority in lockdown was twofold – to reopen, and to improve.
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Analysis & InsightPubs and restaurants see pre-lockdown sales boost
Pubs, bars and restaurants saw a boost in sales at the beginning of this month as consumers made the most of their final days before lockdown, according to CGA.
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Analysis & InsightThree in four keen to return to hospitality post-lockdown
Consumers are keen to return to pubs and restaurants after the month-long lockdown, with the majority feeling confident in the safety measures in place, CGA has found.
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NewsBrewdog secures £25m CBILs and financing arrangement to tackle crisis
Brewdog has said it is optimistic about the remainder of 2020 in light of financial measures taken to protect the business going forward.
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NewsDeltic asks for £1m-a-month government support to see it through sales process
The Deltic Group has asked government for a £1m-a-month bailout as it continues its sales process, the Mail on Sunday reports.
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NewsM&B to close 20 sites
Mitchells & Butlers is working with advisors CBRE to close up to 20 leasehold pubs and restaurants.
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NewsGreggs to cut 820 jobs
Greggs has announced plans to cut more than 800 jobs as a result of the coronavirus pandemic.
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NewsEataly to open in early new year
Italian food market Eataly has confirmed it will launch its UK debut in early 2021 with a flagship space in Broadgate.
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NewsShaftesbury raises £307m
West End landlord Shaftesbury has raised £307m in new capital following a share placing.