All MCA Insight articles in September 2020
View all stories from this issue.
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NewsSEPTEMBER 2020
It’s been another huge month for hospitality after the introduction of the 10pm curfew sent the industry back into a downward spiral. Columnists Peter Martin and Dominic Walsh examine the consequences.
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NewsYo! CVA approved
The CVA proposed by Yo! on 14 August has been approved by its creditors. It will now close 19 of its 69 sites. ”These are exceptionally challenging times for our sector and we are pleased that our creditors have supported us in today’s vote,” said Yo! CEO Richard Hodgson. “This will ensure Yo! has a solid foundation to continue to adapt to the changes brought about by Covid-19, and allows us to focus on reopening remaining sites and rolling out our new restaurant model.”
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NewsFootfall jumps up over bank holiday weekend
Wireless Social has said total footfall on Sunday was the ”largest jump we have seen in weeks”. It said the sunny bank holiday had encouraged people to “get out and about again”. Broken down into some of the key regions, it said Liverpool was down just 13% behind pre-lockdown footfall figures, with a 25% jump on the previous week. The West End of London showed footfall in slight growth, with it nearing 55% down on February figures. In Glasgow, after having a few weeks of minimal growth, the city saw more people out and about last weekend (+8% growth on Saturday and +10% on Sunday).
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NewsRevolution trading ahead of expectations
Revolution has reopened 39 bars which are trading “ahead of the Board’s expectations, in part as a result of the Eat Out To Help Out scheme” it has said in a trading update. It said like for likes for the 8 weeks to 29 August 2020 were 72.5% of last year, but the launch of EOHO had seen like for likes across Monday to Wednesday hit 188.4% compared to last year. Revolution plans to continue to run EOHO at least through September. It also plans to open 13 more bars on 7 September but 11 bars are unlikely to reopen until social distancing restrictions are further relaxed.
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NewsWhy extending EOHO may be the final straw for independent restaurants
I have nothing but positive things to say about Eat Out to Help Out. I know it’s put a lot of pressure on some operators and staff but, on the whole, it has been so reassuring to see our streets and restaurants busy again. Clearly half-priced food is enough to entice reluctant diners out from their lockdown lives and remind them that eating at restaurants is great fun, delicious and safe. As a result, our industry has received a much-needed economic boost - at least £336m has already been claimed across the 84,000 outlets taking part.
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NewsEast Coast Concepts bought out of administration
East Coast Concepts, the Manchester-based restaurant and bar group, has been bought out of administration.
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NewsLiverpool One launches cabin bar concept
Liverpool’s central shopping complex Liverpool One has launched a new cabin bar concept, ‘The Chavasse Project.’
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NewsCosta warns 1,650 jobs at risk
Costa has warned up to 1,650 jobs could be at risk of redundancy due to “high levels of uncertainty” as to when trade will return to pre-coronavirus levels.
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NewsMore than 100 million meals claimed in EOHO
Over 100 million meals have been claimed under the government’s Eat Out to Help Out scheme, according to the latest Treasury figures.
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NewsGreene King sees record number of tenant applications
Greene King has recorded its highest ever number of new tenant applications this Summer, despite the impact of the coronavirus crisis. Across June, July and August, 254 people got in touch with Greene King Pub Partners wanting to run their own pub, more than double the same period in 2019. The pubco has also revealed that even in the height of lockdown, between 24 March and 22 June, there were 108 new unique applications.
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NewsRevolution CEO Rob Pitcher: ‘Government must take responsibility for its actions’
Although the government was justified in its initial decision to enforce closure on hospitality through lockdown, it must now take responsibility for the consequences of its actions, Revolution Bars CEO Rob Pitcher has said.
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NewsHall & Woodhouse appoints Anne Elliot as non-exec director
Dorset-based pubco Hall & Woodhouse has appointed Anne Elliot as non-executive director, replacing Mike Street who stepped down in May after 10 years on the board.
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Analysis & InsightGoodbody on Greggs: Potential headcount cuts
Earlier today, Costa announced that 1,650 roles are at risk of redundancy in the UK, and follows the recent announcement by Pret a Manger that is was going to lay off 2,800 employees. To put into context, Costa has about 2,700 stores across UK and has re-opened more than 2,400 in recent months after closing all of them for 6 weeks due to the pandemic. Costa has about 16,000 employees in total, implying that the at-risk roles account for about 10.3% of total workforce.
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NewsPret to launch in-shop coffee subscription service
Pret is set to launch an in-shop coffee subscription service next week.
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NewsMore than one in four Scottish hospitality businesses at risk of collapse
More than one in four tourism and hospitality businesses in Scotland could still be at risk of collapse in the fallout of the coronavirus crisis, according to a new report by the University of Edinburgh Business School and credit risk assessment company Wiserfunding.
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NewsDelivery spike outlasts lockdown
Increased adoption of delivery looks to have outlasted lockdown, with the channel now accounting for three meals a month, research from Lumina Intelligence reveals.
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NewsB&K to raise £2.5m via rights issue
Brewhouse & Kitchen anticipates trade will recover to pre-pandemic levels within one year.
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NewsTossed creditors include £9.3m Jersey investor
Zest Food, the operator of Tossed and Vital Ingredient, has left liabilities of £9.3m to its investor after going into administration, a progress report shows.
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NewsTRG director leaves amid leisure restructure
The Restaurant Group divisional MD Nick Shelmerdine has left the group following the downsizing of its leisure divisions.