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All MCA Insight articles in September 2020 – Page 2
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NewsPizza Hut Restaurants CVA approved
Pizza Hut Restaurants’ company voluntary arrangement (CVA) has been approved.
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NewsSoho Summer Street Festival extended
The partial pedestrianisation of streets in Soho is to be extended until the end of October, Westminster Council has confirmed.
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NewsParliament’s bars exempt from tougher measures
Parliament’s bars will not be subject to coronavirus restrictions despite the implementation of tougher measures on the wider sector last week, the Times reports.
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NewsBurnham: ‘Curfew doing more harm than good’
The 10pm curfew rule is “doing more harm than good” and should “probably” be lifted, Greater Manchester Mayor Andy Burnham has said.
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NewsIndustry launches support service for recently unemployed
Industry bodies have joined forces to launch a free support service for people struggling in the sector. CareerScope, a joint venture between Springboard, Hospitality Action, UK Hospitality, the Institute of Hospitality and the Savoy Educational Trust, is an online hub designed to support those within the hospitality, leisure and tourism sectors who have either lost their jobs or are struggling to find work because of the pandemic.
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NewsEmergency lockdown plans could enforce two-week hospitality closure
A new emergency lockdown plan could be enforced across northern England and London in the coming days, the Times reports.
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NewsFulham Shore delays results, predicts it will be a “successful survivor”
Fulham Shore, the parent operator behind restaurant brands Franco Manca and The Real Greek, has been granted an extension of its FY20 results by the AIM Regulation.
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NewsPure to enter CVA
Healthy to-go brand Pure is set to enter a company voluntary arrangement (CVA), the Times reports.
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NewsPolpo files for administration
Venetian-style small plates concept Polpo has filed for notice of administration, according to the Times.
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NewsSales plummet at GBK
Gourmet Burger Kitchen system-wide like-for-like sales fell 66.2% for the six months to 27 August 2020, parent company Famous Brands has reported.
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Analysis & InsightTwo in five to retreat from hospitality with new restrictions in place
Two in five consumers will go out less often as a result of the new restrictions placed on pubs, bars and restaurants, according to CGA.
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NewsRevolution considers CVA
Revolution Bars Group has confirmed it is working with advisors to secure its long-term viability. The company is currently evaluating the potential impact of the latest restrictions on the business, and is exploring various options including a reduction of its estate through a company voluntary arrangement (CVA). No decisions have yet been made, but the board is considering all necessary options to ensure its viability in light of the latest government measures.
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OpinionMark McCulloch: Pret's Inventive Incentive
“When I was at Pret’’ is a phrase I find myself saying most days (and get the mickey taken out of me for like a stuck record for those who hear it daily). I use the phrase as most days I find myself in a situation where I need to solve a problem, Pret is the best example of how to solve it without fail. I learned more in my 10 months there than in any other business. The focus and confidence of what Pret would and wouldn’t do is an unspoken yet powerful bond that lives with the current teams and anyone lucky enough to work for/with Pret in the past.
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NewsIndustry contribution to infection ‘negligible’
A tiny proportion of operators (2%) believe the hospitality industry has been a “major source” for rising rates of coronavirus, Lumina Intelligence’s Hospitality Leaders Poll reveals.
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Analysis & InsightShelley Sandzer: Together is better
The Eat out to Help Out Scheme was a godsend to the beleaguered restaurant sector. The discount to consumers went further than just a cut price meal, it was both a call to arms and a signal that restaurants were open for business. While several operators reported the scheme led to sales levels being back up to 2019 on a like-for-like basis, on the days of the week the offer was not running, sales volumes invariably slid. With children now back at school, workers being encouraged back to their desks, and the furlough scheme winding down, there is the potential for quieter times ahead as we do not have either the time or the money for those lazy weekday afternoon meals.
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NewsShaftesbury collects 41% of rents in H1
West End pub and restaurant landlord Shaftesbury has said it remains confident in the long-term prospects of its portfolio, despite collecting less than half of its owed rent in the past six months.
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NewsDeliveroo enters IPO talks
Deliveroo has begun preliminary talks to explore an initial public offering (IPO), Bloomberg reports.
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NewsVarious Eateries enters AIM
Various Eateries, the Hugh Osmond-backed operator of the Coppa Club, has entered its first day of trading on the AIM today (25 September).
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NewsDebt enforcement moratorium extended
The government will extend the debt enforcement moratorium until the end of the year, business minister Lord Callanan has announced.
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NewsFirst night of curfew passes ‘largely without incident’
The first night of the 10pm hospitality curfew in England and Wales has passed “largely without incident,” according to Sky News. As part of an investigation into how the curfew was handled in London and Birmingham, Sky reported overall compliance, streets adorned with “fluorescent vests and jackets of enforcement officials” and “eerily quiet” streets at 10pm.