All MCA Insight articles in November 2020 – Page 6
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NewsUK Hospitality CEO Kate Nicholls: Sector ‘back into intensive care’ because of second lockdown
It is “imperative” that the second national lockdown is time limited so hospitality businesses burning through cash reserves can “gain some income during December,” UK Hospitality CEO Kate Nicholls has warned.
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NewsNTIA: ‘Nightclubs are on the brink of extinction’
The late-night sector will not survive to see recovery without urgent financial support from government, Night Time Industries Association CEO Michael Kill has warned.
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NewsWest and central Scotland to face toughest restrictions in three-week lockdown
Pubs and restaurants will be required to close in a further 11 areas in Scotland as part of a “short, sharp” move to level 4, first minister Nicola Sturgeon has announced.
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NewsGreene King appoints Local Pubs MD
Greene King has appointed Clair Preston-Beer to its executive board as the new managing director for the more than 600-strong Local Pubs division.
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NewsCaines preps Exmouth beach bar
Chef Michael Caines will launch a bar, restaurant, cafe and patisserie in Exmouth as part of the Devon town’s seafront regeneration project.
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NewsPret launches debut TikTok campaign
Pret has launched its first marketing campaign with TikTok for the festive season.
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NewsDinners by Pret deliveries expanded
Pret A Manger is to roll out its delivery-only ‘Dinners by Pret’ evening meal service to 30 sites around London, having previously trialled the offer across seven of its UK stores.
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NewsStricter tiers needed to control virus
A stricter tier system that bans indoor socialising over winter will be needed to replace national lockdown next month, a government scientific adviser has warned.
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NewsShaftesbury raises £307m
West End landlord Shaftesbury has raised £307m in new capital following a share placing.
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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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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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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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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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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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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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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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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 & 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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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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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.