All MCA Insight articles in September 2020 – Page 10
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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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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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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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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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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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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.