By M&C Report team2012-09-20T07:18:00+01:00
Loungers chairman and co-founder Alex Reilley expects the end of the lease forfeiture and debt enforcement moratoria in March will lead to a ‘phenomenal glut’ of CVAs across hospitality.
Travel hub operator SSP has simplified its menus by up to 50-60% during the pandemic, which could result in smaller menus remaining post-covid, according to an analysts’ note by Peel Hunt.
Q1 is traditionally the quietest quarter in licensed retail; it is when tenants are most likely to hand back the keys. Sadly, without any additional government support and with the rent moratorium ending in March (with 15 months of rent due in some cases), many private companies could run out of liquidity. Many sources have suggested a 20-30% supply reduction. We are more optimistic than this due to corporate activity. The speed and direction of capital reallocation will be critical to this, in our view.
Three in four wet led pubs (74%) are still yet to receive their Christmas grant promised to them at the beginning of December 2020.
Rekom UK CEO Peter Marks has said he would rather “wait a little bit longer” for reopening, than dilute the nature of the business’ offer.
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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