All MCA Insight articles in September 2020 – Page 8
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NewsVirus 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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InterviewsDeltic 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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Analysis & InsightDavid 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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NewsSubway ‘exploiting eviction moratorium’
Subway is failing to pay its rent, despite continuing to take payments from franchisees, landlords have claimed.
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NewsLeon appoints Ayerst MD
Leon has appointed Nick Ayerst, former MD of TRG Concessions, as managing director.
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NewsChancellor’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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Analysis & InsightSunak’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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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.
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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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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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NewsDeliveroo enters IPO talks
Deliveroo has begun preliminary talks to explore an initial public offering (IPO), Bloomberg reports.
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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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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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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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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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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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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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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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NewsPolpo files for administration
Venetian-style small plates concept Polpo has filed for notice of administration, according to the Times.
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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.