By M&C Report team2005-08-09T09:37:00+01:00
Lockdown is costing Greene King every pub on average of £4,500 every week, which equates to £7m a week for its managed pub estate, CEO Nick Mackenzie has said.
A group of 68 Conservative MPs have signed a letter calling for the Chancellor Rishi Sunak to cut beer duty in his upcoming Budget announcement on 3 March.
Sector leaders have criticised the Government for once again “penalising hospitality” with its reopening strategy, forcing pubs and restaurants to wait a further three months before they can operate inside. The proposed reopening timeline has been branded “too little too late,” and “worse than the worst-case scenario” by operators from all corners of the sector, who have warned that without significant support in next week’s Budget, there will be a “devastating” fallout for businesses.
Urban Pubs & Bars lost out on £2.5m in sales in the first month of the March lockdown, and incurred a significant shortfall in profit due to its inability to mitigate costs immediately at the point of closure.
The Inn Collection Group saw a year of record growth in 2020. Throughout the year, the Alchemy-backed business acquired eight freehold properties, bringing its total estate to 19 sites, and managing director Sean Donkin tells MCA that it was able to grow so aggressively because of one major contributing factor: the pandemic. “It has enabled us to focus on acquiring new sites and made additional opportunities available,” he says. “But it’s not necessarily because of people going under, it’s people running out of puff and fight”.
BrewDog has achieved certified B Corp status, making it the only hospitality business in the UK to achieve the accolade.
Site powered by Webvision Cloud