Pubs, Bars & Clubs News – Page 55
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NewsUKHospitality bangs the drum for additional support
UKHospitality has warned that businesses will not be able to survive and contribute the rebuilding of the economy unless further support is given.
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NewsAnalysts’ verdict – JDW share placing
JD Wetherspoon’s £93.7m share placement should provide a buffer against the impact of low sales upon reopening, as well as enable it to invest in new sites, as and when opportunities arise. We round-up the thoughts of analysts from Liberum, Peel Hunt and Hargreaves Lansdown on the pub operator’s latest move.
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NewsHawthorn ‘remains bullish’ in Q3 investments
Hawthorn, the NewRiver-owned community pub company, more than doubled its planned CAPEX spend for the third quarter, and added an extra 61 sites to its investment programme.
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NewsSlow post-Covid recovery predicted for hospitality sector
The hospitality sector is expected to see some of the slowest rates of post-Covid recovery, according to the latest EY Regional Economic Forecast.
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News‘Scandalous’ delay in grant support for pubs
Three in four wet led pubs (74%) are still yet to receive their Christmas grant promised to them at the beginning of December 2020.
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NewsRed Oak Taverns acquires three pubs
Red Oak Taverns, the independent pub operator, has completed the acquisition of three pubs from Reclamation Inns for an undisclosed sum.
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NewsWetherspoon seeks £94m in share placing
Wetherspoon has announced plans for an equity placing to raise proceeds of up to £93.7m.
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NewsFormer Fullers head of finance joins Drake & Morgan
Former Fullers head of finance David King has been appointed as new chief financial officer at bar and restaurant group Drake & Morgan.
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NewsGreene King re-launches team member support fund
Greene King is launching its second coronavirus support fund later this month in partnership with the Licensed Trade Charity.
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NewsGreene King takes anti-racist step in renaming four pubs
Greene King is renaming four of its pubs where the existing names are thought to hold racist connotations.
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NewsGreene King continues 90% rent concessions for tied tenants
Greene King Pub Partners has confirmed its tied tenants will continue receiving 90% rent concessions until the end of the latest lockdown.
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NewsGravity to make London debut
Gravity, the experiential leisure operator, is to make its London debut this summer in Wandsworth’s Southside Shopping Centre.
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NewsMay bank holiday rumoured for pubs reopening
Pubs and bars in England could be closed until the beginning of May, government officials have suggested.
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NewsStar extends 90% rent relief
Star Pubs & Bars will continue to give core leased and tenanted pubs a 90% rent reduction during lockdown.
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NewsPubs at ‘unfair disadvantage’ over takeaway rules
Pub operators have been warned they should not try to repurpose venues into off licenses in order to sell alcohol.
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NewsMarston’s has ‘significant liquidity’ for lockdown
Marston’s made pub revenues of £54m in the 13 weeks ended 2 January 2021.
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NewsM&B to explore equity raise to ease cash burn
Mitchells & Butlers is to explore an equity capital raise to increase its “financial and operational flexibility” in the face of significant lockdown cash burn.
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NewsArc Inspirations borrowed £5m “just to stand still”
Northern bar group Arc Inspirations has had to borrow £5m from lenders to survive the rolling lockdown restrictions, CEO Martin Wolstencroft has said.
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NewsDeltic sold for £10m
UK nightlife operator Deltic was bought out of administration by Rekom for £10m, accounts from administrator BDO have revealed.
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NewsBrains brewery may be relocated to England
Brains beer may be relocated to England due to a failure to find a buyer for the iconic Welsh brewery business, ITV News reports.