![FTG-206[1]](https://d36hgjhwuw81py.cloudfront.net/Pictures/274x183/9/2/9/387929_ftg2061_516512.jpg)
![FTG-191[1]](https://d36hgjhwuw81py.cloudfront.net/Pictures/274x183/8/5/0/387850_ftg1911_213806.jpg)
All MCA Insight articles in November 2020 – Page 4
-
NewsFulham Shore eyes low rent property
Franco Manca operator Fulham Shore will continue to take advantage of properties coming to the market at “ever lower rents”, the company has said in a financial update.
-
InterviewsImbiba partner Darrel Connell: ‘You can’t predict the future in a period of flux’
Imbiba partner Darrel Connell has advised businesses against drawing “too many conclusions about what the future will look like” with the country still in the midst of the pandemic.
-
InterviewsPeter Martin: ‘We must mobilise against the government health lobby’
The hospitality sector must mobilise against the government’s “health lobby” in using pubs and restaurants as a scapegoat for transmission “with very little evidence,” CGA vice president and MCA contributing editor Peter Martin has said.
-
NewsBird appoints new MD, founders depart
Fried chicken and waffle concept Bird has appointed Andrew Clover as managing director to deliver on an ambitious expansion plan.
-
NewsDeliveroo lines up Arney as chair
Deliveroo is lining up Claudia Arney to chair its board as the company prepares to float on the stock market, Sky News reports.
-
NewsBusinesses claimed £849m through EOHO
Businesses claimed £849m through the chancellor’s Eat Out to Help Out scheme, discounting more than 160 million meals, according to new figures from HMRC. New figures have revealed that almost 50,000 hospitality operators made a claim through the scheme by 30 September, which offered government subsidies of up to £10 on meals Monday to Wednesday in August. About a third (34%) of discounted meals were claimed by businesses with more than 25 outlets, accounting for more than a quarter (27%) of the total amount claimed. The majority of claims were made by restaurants (55%), with pubs claiming 28% of meals.
-
NewsSlim Chickens signs second franchise deal
Slim Chickens, the Boparan Restaurant Group-owned fast causal concept, has entered into its second franchise agreement. The new deal between Boparan and franchisee KK Restaurants SW will see the brand open five restaurants across the south west of England, with the first due to open in Exeter next month. The Exeter restaurant will be Slim Chickens’ tenth UK site, and second franchise-operated location following its Manchester Trafford Centre opening last month with partner JRK Restaurants.
-
NewsBusiness rates multiplier frozen
Hospitality and retail businesses will benefit from a freeze to the business rates multiplier, though the move announced in chancellor Rishi Sunak’s spending review falls short of wider relief of the controversial levy.
-
NewsNational Living Wage to rise with inflation
The Government has announced the National Living Wage (NLW) and National Minimum Wage (NMW) rates which will come into force from April 2021.
-
InterviewsBao co-founder Shing Tat Chung: ‘Diversify, prepare, and avoid being too optimistic’
Should there ever be demand for a hospitality ‘how to’ guide on responding to a global pandemic, the Bao team could write a pretty strong one. Since those initial virus rumours began to circulate at the beginning of this year, the London-based Taiwanese restaurant group didn’t waste any time in mobilising a response. In March, the then four-strong brand – with restaurants in Soho, Borough and Fitzrovia, plus a ‘Bao Bar’ in Hackney’s Netil Market – announced it was due to open its first all-day dining concept, Café Bao, in Kings Cross. Not ideal timing, but as co-founder Shing Tat Chung tells MCA, undeterred by the Kings Cross set back and estate-wide closure, the business set about pursuing a different avenue of opportunity.
-
NewsM&B: Staying optimistic about recovery
Mitchells and Butlers has reported a 34.1% sales fall compared to last year, coming in at £1,475m. It made a pre-tax loss of £123m compared to a profit of £177m last year. “Throughout a very uncertain and challenging year our businesses and teams have adapted quickly, creating a safe environment for guests and putting us in a strong position to benefit when consumers are able to eat out again,” said CEO Phil Urban.
-
NewsFuller’s CEO Simon Emeny: Staying positive
Fuller’s has said sales for the first half of the year (for the 26 weeks to 26 September 2020) hit £45.6m, down from £167.1m it made last year. It also reported an adjusted loss before tax of £22.2m compared to a profit of £17.9m last year. “The tightening of the tier system will present further challenges over the winter months, but we welcome the Prime Minister’s comments that we will see the need for restrictions fall away in the spring,” said CEO Simon Emeny. “When the current lockdown was announced, we acted swiftly to implement the lessons learned last time round and this latest closure has been made with minimal stock losses.
-
NewsNewRiver: Remaining resilient
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.
-
NewsIndividual Restaurants acquired in £40m rescue deal
Individual Restaurants, including the Piccolino, Restaurant Bar & Grill, Opera Grill and Bank brands, has been acquired by the directors of Iceland supermarket, in a transaction worth more than £40m.
-
NewsEngland’s regional tiers announced
Just three areas will exit the second national lockdown into the lowest level of restrictions next week, with the majority of the country facing tier 2 and tier 3, the Government has announced. From 3 December, most regions will enter tier 2, with cities including London and Liverpool - which was previously in tier 3 - subject to tightened alcohol and mixed household rules. Three regions – the Isle of White, Cornwall and Isles of Scilly – will be in the lowest tier, whilst around 21 local authority areas will be in the quasi-lockdown tier 3 level.
-
NewsM&B axe 1,300 jobs
Mitchells & Butlers has announced 1,300 of its staff have been made redundant as it deals with the ongoing impact of the coronavirus pandemic. The 1,700-strong group, which operates brands including Harvester, All Bar One and Toby Carvery, began redundancy consultations with a number of staff last month, and has since started working with advisors CBRE to close up to 20 leasehold pubs and restaurants. The job cuts came as M&B revealed its financial results for the year to 26 September, which saw pre-tax losses of £123m, compared to a profit of £177m in 2019.
-
NewsSoho House appoints new CFO
Soho House has appointed Humera Afzal as its new chief financial officer. Succeeding former CFO Peter McPhee, Afzal will take up the role from 1 December, where she will help steer the private members’ club in its post-coronavirus expansion plans. She joins the group from London-based venture capital fund Backed, and previously held roles financing roles across PwC’s global markets.
-
NewsTaco Bell to launch digital-only store in Wembley
Taco Bell will open its first digital-only restaurant in the UK next week in Wembley.
-
NewsM Restaurants to use champagne-serving robots through December
M Restaurants, the Rare Restaurants-owned brand, has announced it plans to use robot waiters alongside staff at its two London sites upon reopening. Through December, M Threadneedle Street and M Victoria Street will make use of the robots – named Bailey and Sage – to serve champagne to customers, travelling between the bar and tables delivering flutes and bottles. The bots will also offer seasonal greetings, and have the option to display personalised messages to guests.
-
Analysis & InsightMajority ‘cannot operate under tier 2’
A majority of operators (56%) said they would not be able to operate under the revised tier 2 restrictions.