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All articles by Finn Scott-Delany – Page 52
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NewsInterest rate cut to 0.1% amid turmoil for listed restaurant and pub groups
The Bank of England has cut interest rate to 0.1%, while announcing £200bn of quantitative easing.
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News‘Realistically, landlords are at the back of the queue’
Calls are growing for the Government to create a six-month lease forfeiture moratorium to prevent landlords from evicting operators for non-payment of rent.
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Hansen: ‘Mobilise workforce to provide meals for vulnerable’
The hospitality workforce facing layoffs should be mobilised to provide a subsidised meal service for the elderly and vulnerable stuck at home during the covid-19 crisis, corporate advisor Peter Hansen has told MCA.
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Analysis & InsightBDO: ‘The contagion into a deep recession will happen very quickly’
Widescale job losses in the restaurant and bar industry will plunge the UK economy into a deep recession, BDO partner Peter Hemington has told MCA.
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NewsYoung’s to introduce rent holiday for tenants
Young’s will continue to trade its pubs as “a place of sanctuary in these uncertain and worrying times”.
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NewsLoungers closures a potential scenario
Loungers has said the partial or complete temporary closure of all of its sites is a potential scenario.
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NewsShepherd Neame directors take 20% pay cut
Shepherd Neame said it was inevitable trading “will deteriorate rapidly” as it introduces a number of precautionary measures.
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NewsLondon faces lock down as tube stations close
Up to 40 stations on the London Underground network are to be shut as the Prime Minister prepares new restrictions in the capital to reduce the spread of coronavirus.
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NewsAzzurri shuts entire estate
Azzurri Group is to close all Ask, Zizzi and Coco di Mama restaurants from today, CEO Steve Holmes has announced.
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NewsDowney: ‘One million hospitality jobs lost this week’
As many as one million hospitality jobs have been lost this week, with groups laying off on average 80% of their staff, according to a straw poll conducted by Street Feast founder Jonathon Downey.
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NewsM&B has headroom to suffer ‘significant loss’
Mitchells & Butlers has provided a trading update in light of the Covid-19 outbreak, with like-for-like sales 0.9% for the 24 weeks to 14 March.
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NewsRestaurants close dine-in, announce delivery options
Bao, Kricket, Berber & Q, Breddos Tacos and Monty’s Deli are among the restaurant groups to announce temporary closures.
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NewsMowgli to close all sites
Indian street food group Mowgli is closing all its sites as part its effort to help curb the spread of Covid-19.
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NewsHonest: Operators laying off staff ‘left right and centre’
The Prime Minister’s intervention yesterday was “the final nail in the coffin” in terms of the government’s approach to the hospitality industry, Honest Burger MD Dorian Waite has told MCA.
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NewsJDW: Dutch approach in tune with ‘robust instincts of the nation’
Wetherspoons chairman Tim Martin has described the government’s de facto lockdown as a “tactical error”, and called for it to adopt the Dutch position.
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NewsCarluccio’s: ‘There will be no high street left if the government does not intervene.’
The hospitality sector is on a “war footing”, and requires an “across the board, fast injection” of capital from government, Carluccio’s CEO Mark Jones has told MCA.
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NewsCity Pub Co takes steps to preserve cash
City Pub Company has reported turnover up 11% against the same period last year, but like for like sales down 4.5%, for the first 11 weeks to 15 March 2020.
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NewsListed groups make heavy losses amid coronavirus bloodbath
Listed restaurant and pub suffered a day of carnage today as the coronavirus outbreak took its toll on operators’ share prices.
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NewsDeliveroo introduces no-contact drop-offs
Deliveroo has introduced a no-contact drop-off service amid the coronavirus outbreak.
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NewsJDW more affected by weather than health scare
J D Wetherspoon has reported like for like sales up by 3.2% in the six weeks to 8 March 2020, saying it had been more adversely affected by poor weather than by the coronavirus health scare.