All MCA Insight articles in November 2020 – Page 4
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Analysis & InsightPandemic to wipe £14bn from pub market
The pandemic will wipe £14bn from the pub sector in 2020, but the market is forecast to make a tentative recovery in 2021, Lumina Intelligence reports.
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NewsDefiance grows in face of Christmas rules
News that the hospitality trade would once again be the worst loser from government restrictions over Christmas has been met with a growing sense of rebellion, as pub leaders suggested they may openly defy the rules.
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NewsNo Christmas bubbles in hospitality venues
Families will be able to meet two other households in private homes in a “Christmas bubble”, though this will not extend to meeting pubs and restaurants.
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NewsDishoom debuts in Brighton
Indian restaurant concept Dishoom has launched its seventh delivery-only kitchen today in Brighton. Its debut in the town, the Deliveroo Editions site is Dishoom’s first outside of London, and will operate from 12pm to 10.30pm daily in most postcodes between Brighton Marina and Shoreham harbour, as well as Mile Oak and Patcham. The menu – available on the Dishoom site through its ‘brought to you by Deliveroo’ tab or directly through the aggregator – will mirror that of its other delivery sites, offering dishes including keema pau, chicken ruby and house black daal.
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OpinionShelley Sandzer: No more unicorns, cash is king
The longer the pandemic goes on, the greater the acceptance in the industry that life has to go on in some way. What is interesting, is the form that is taking.
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OpinionDominic Walsh: Even successful companies have hit the buffers
Back in June, I was chatting to Mark Derry, the Brasserie Bar Co boss, about surviving the pandemic. It seems a long time ago now, given how much has happened since, but the other day I happened to glance back at my notes from our conversation, and one thing he said to me turned out to be particularly prescient.
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NewsCineworld secures $750m lifeline
Cineworld has secured a $750m (£552m) funding package to see it through the crisis as it hopes for a possible spring reopening. Following news last week that the global chain – which has 127 UK sites – was considering a company voluntary arrangement to secure its future, the latest support package is said to be a “lifeline” for the business. The funding includes $450m (£331m) in new loans, as well as issued warrants that could hand around 10% of shares to creditors. Cineworld has also secured debt waivers until 2022, the extension of a $111m (£82m) line of credit until 2024 and the early repayment of a $200m (£147m) tax rebate.
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NewsLeon considers CVA
Healthy fast-food concept Leon has become the latest chain to consider a company voluntary arrangement (CVA) in a bid to cut its rent bill. The business appointed consultancy firm Quantuma in June to advise it on seeking new rent terms, but is now said to be drawing up CVA proposals as a result of pressures caused by the second national lockdown. According to Sky News, plans are at an early stage and the implications for store closures and jobs are yet to be disclosed.
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NewsFive Guys to push on with expansion following strong lockdown trading
Five Guys will push on with its expansion plans despite the uncertainty of the coronavirus pandemic, with at least three new openings set before the end of the year.
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NewsTightened tier system a “straitjacket on hospitality” and “will destroy sector”
The proposed tightened tiered system is a “straitjacket” on hospitality businesses and will destroy the sector if they go ahead, industry trade bodies have warned.
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NewsJohnson confirms tighter tiering and enhanced hospitality restrictions
The restrictions on hospitality in tiers 2 and 3 are to be increased on 3 December and more areas are likely to exit lockdown into the higher alert levels, the Prime Minister has announced. Speaking via video link to the Commons today, Johnson confirmed that lockdown restrictions will be lifted on 2 December and will not be renewed, but the country will enter a tightened regional tiered approach. As has been speculated over the weekend, pubs and bars in tier 2 areas will be required to close unless operating as restaurants – serving alcohol with a ‘substantial meal’ – and in tier 3, all hospitality businesses will be closed with the exception of takeaway, drive-through and delivery. One marginal positive for businesses in tiers 1 and 2 is a revision of the 10pm curfew, which will be extended until 11pm – with last orders now at 10pm rather than complete closure.
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NewsCaring warns of ‘atomic bomb’ of unemployment
Richard Caring has urged the government to abandon blanket coronavirus restrictions or face “an atomic bomb” of unemployment in January.