Pubs, Bars & Clubs News – Page 57
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NewsTim Martin rails against ‘reckless and draconian’ anti-pub measures
Wetherspoon will keep eight of its pubs open in Wales, effectively trading them as cafes.
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NewsEverards at the ‘precipice of losing many pubs for good’
Regional pub operator and brewer Everards has been “effectively closed down” by the government’s tier system.
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NewsMarston’s waivers request approved by noteholders
Marston’s request to the holders of its secured class A notes for a number of further technical waivers during the first half of 2021 has been approved. In an announcement to the London Stock Exchange last month, the pubco formally requested the waivers as a precautionary measure following the renewed lockdown restrictions introduced in Wales and England.
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NewsTim Martin sells £5m of shares
JD Wetherspoon chairman Tim Martin has sold £5m worth of shares in the company.
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NewsBrains to close more than 100 pubs due to Wales alcohol ban
Welsh pubco and retailer SA Brains will close more than 100 managed pubs from Friday, chief executive Alistair Darby has said.
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News27% of pubs reopen post-lockdown
Just 27% of pubs in Britain were able to attempt reopening today (2 December), with many fearing they could close again in less than a week if they are unviable under tier 2 restrictions.
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NewsGreene King tenants to get 90% rent concession
Greene King Pub Partners has announced further rent support, confirming all tied tenants in tiers 2 and 3 will receive a 90% rent concession from 2 December.
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NewsMPs urged to intervene in ‘reckless’ decision-making
Wetherspoon’s chairman Tim Martin has written to MPs, accusing the government of poor decision-making in its coronavirus policies.
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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.
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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.
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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.
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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.
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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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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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NewsNight-time sector in appeal for urgent help
Nightclub operators will meet the Business Secretary this week in an attempt to secure a potential lifeline for the sector.
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NewsDeltic warns landlords of collapse without sale
Nightclub operator Deltic has warned landlords that it faces collapse unless a sale is agreed imminently, Sky News reports.
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NewsBrewdog ad caused ‘serious and widespread offence’
A Brewdog billboard ad which states “F**k You CO2” has been banned by the Advertising Standards Authority.
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NewsSacha Lord releases recovery plan, warns bounce back ‘could take five years’
Manchester’s night time economy advisor Sacha Lord has released a plan detailing how businesses can be supported to recover from the pandemic, but warned it could take five years for the sector to recover.
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NewsLegal challenge to curfew set for second court hearing
A legal challenge to the 10pm curfew in England is set for a second court hearing at the beginning of next month.
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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.