All MCA Insight articles in September 2020 – Page 3

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    Analysis & Insight

    Sunak’s winter plan ‘nowhere near enough’


    The Chancellor’s Winter Economy Plan has been met with dismay from the industry, with proposals of a 33% wage subsidy and two-month VAT cut extension a far cry from the levels of support needed to see businesses survive.

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    Chancellor’s Winter Economy Plan: ‘Job Support Scheme,’ ‘pay as you grow’ and VAT cuts


    Businesses forced to reduce employee working hours because of the coronavirus crisis will be legible for government wage subsidies of one third of lost pay, The Chancellor has announced. To continue supporting businesses with cashflow, bounceback loans will be merged with a new ‘pay as you grow’ scheme and government guarantees for CIBLS will be extended for up to ten years, and the deadline for all loan schemes will be extended until the end of 2020 whilst government works on a “new successor loan guarantee programme” to start in January 2021. The VAT bill, due to be paid in March 2021, will instead be spread over 11 smaller payments without interest for those businesses who need it, and the Chancellor has cancelled the planned increase in VAT (back to the standard rate of 20%) set for January, with VAT remaining at the reduced 5% rate until 31 March instead.

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    Leon appoints Ayerst MD


    Leon has appointed Nick Ayerst, former MD of TRG Concessions, as managing director.

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    ​Subway ‘exploiting eviction moratorium’


    Subway is failing to pay its rent, despite continuing to take payments from franchisees, landlords have claimed.

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    Analysis & Insight

    David Read: So, where is the data?


    Yesterday morning I attended a regular Zoom update call alongside around eighty people, mostly from the hotel sector. As luck would have it the speaker was Kate Nicholls, CEO of UK Hospitality, someone who few would dispute has done more to keep the hospitality sector afloat in these troubled times than any other. She cut a frustrated figure as, an hour or so before Johnson rose to speak in the Commons on coronavirus, she updated us on the agenda that would shortly unfold. The list of measures was (to say the least) unwelcome, and there was a palpable level of shock in the meeting.

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    Deltic CEO Peter Marks: ‘We’re innocent until proven guilty’


    There has been no evidence to support government suggestions that hospitality is to blame for the rise in coronavirus cases, and therefore the industry should be considered “innocent until proven guilty,” Deltic CEO Peter Marks has told MCA.

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    Virus outbreak halts production for Greggs


    Greggs has said a “small number” of staff at its factory near Newcastle have tested positive for coronavirus with production temporarily shut down.

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    Quarter believe business will fail


    A quarter of hospitality businesses (23%) believe they will fail by the end of the year without further Government support. 

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    M&B 'continues to outperform the market'


    Mitchells & Butlers achieved like-for-like sales growth of 1.4% in August, as a result of the Eat Out to Help Out scheme and the reduction in VAT.

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    ​Julian Metcalfe lambasts PM’s ‘exaggerated nonsense’


    Itsu CEO Julian Metcalfe has savaged Prime Minister Boris Johnson for “spouting Churchillian nonsense” and called a new six-month call to work from home “criminal”.

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    Sunak to announce wage subsidy scheme, VAT cuts and new loans


    Chancellor Rishi Sunak is set to announce a multibillion-pound package of economic support including wage subsidies for part for part-time workers, VAT cuts and more loans for struggling businesses.

  • Giggling Squid food

    Giggling Squid to open in Cambridge


    Thai restaurant group Giggling Squid is set to open a new site in Cambridge next week.

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    Gusto CVA sees four sites close


    Gusto Italian has completed a CVA process which secures the future of the business and 600 jobs, but results in four restaurant closures.

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    Unlicensed premises exempt from table service rule


    The ‘table service only’ rule only applies to licensed operators, the government has clarified.

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    Raab: ‘We can’t rule out second lockdown’


    The government can’t rule out a second lockdown if the latest coronavirus restrictions fail to curb infection rates, foreign secretary Dominic Raab has said.

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    Roadchef CEO Mark Fox: ‘Soul destroying’ to be blamed for rising infection rates


    The government’s suggestion that hospitality is to blame for the uptick in coronavirus cases is “soul destroying” and unfounded, MCA’s The Conversation has heard. Speaking at the event, Roadchef CEO Mark Fox said that ministers’ “sideways” accusations that hospitality businesses have had a part to play in disease transmission has “been pretty soul destroying”, given the extent to which many operators have gone to ensure their sites are safe. Also on the panel, Anglian Country Inns MD James Nye said the shift in government messaging suggests there is ”a storm on the horizon,” whilst UK Hospitality CEO Kate Nicholls argued that without a clear reason for the implementation of a curfew, it’s unlikely to produce the desired results.

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    Sunak considers furlough replacement programme


    Chancellor Rishi Sunak is drawing up plans for a new wage subsidy programme to replace the Jobs Retention Scheme next month, the Financial Times reports.

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    SSP sales continue to struggle


    SSP Group has predicted a bleak H2 outlook as the coronavirus crisis continues to hit sales.

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    Ten Entertainment sees post-lockdown profits


    Ten Entertainment Group has seen a “strong start” to initial post-lockdown trading, remaining profitable and cash generative since reopening in August.

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    A six month sentence


    “Nuts.” “No logic.” “A crushing blow.” The industry wasn’t impressed by the idea of a curfew. And that was the reaction before Boris Johnson handed down a punitive six month sentence. Frustration at the prospect was palpable and understandable, primarily because hospitality is being treated like a leading cause of infection rates rising when it isn’t.