By M&C Report team2010-04-26T15:45:00+01:00
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.
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.
Chancellor Rishi Sunak suggested the 10pm curfew on pubs and restaurants will be lifted after lockdown, but warned that areas should prepare for tougher local restrictions.
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.
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.
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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