All articles by Georgi Gyton – Page 94
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NewsRisk mass unemployment if furlough scheme is axed, warn business leaders
Chancellor Rishi Sunak has been warned by leading business groups and trade unions that unless the furlough scheme is extended the country risks a period of mass unemployment.
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NewsMarston’s rejects share offer from Platinum Equity
The board of Marston’s has unanimously rejected a proposal of 105 pence per share, from Platinum Equity Advisors, stating that it “very significantly undervalues” the business.
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Analysis & InsightAnalysts’ verdict: Liberum on Marston’s
An offer for Marston’s could come in at above 100p per share, according to analysts Liberum, in a note issued following the news that Platinum Equity Advisors had received an unsolicited non-binding proposal from the American PE firm regarding a possible cash offer for its share capital.
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NewsChop’d acquired by Inc Retail
Food to go operator Chop’d has been acquired by London-based retail group Inc Retail, for an undisclosed sum, in a deal which includes all 13 of its sites.
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Analysis & InsightConsumers keen to return to hospitality
More than half of consumers ‘can’t wait to go out again’ according to CGA’s 2021 Hospitality Consumer Forecast, with 80% hoping to visit a hospitality venue within a few weeks of them reopening.
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Analysis & InsightConsumer confidence falls further, says Deloitte
UK consumer confidence has fell a further one percentage point in Q4 2020, to -17%, according to Deloitte’s latest Consumer Tracker.
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NewsMcDonald’s UK sees uplift in like-for-like sales
McDonald’s UK has seen an uplift in like-for-like (lfl) sales, which were positive throughout Q4, reversing the trend seen in the previous quarter.
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NewsVarious Eateries obtains £2.5m BII payout
Various Eateries has received an interim payment of £2.5m under its Business Interruption Insurance (BII) policy and is in negotiations regarding additional claims.
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Analysis & InsightThree-quarters of operators would prefer delayed reopening to restrictions – poll
Three-quarters (76%) of operators asked would rather delay reopening their businesses in order to operate with no restrictions rather than open early with high or very high-tiered restrictions, the latest Lumina Intelligence’s Hospitality Leaders Poll has revealed.
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Analysis & InsightPent up consumer demand to boost sector
Pent up consumer demand for the dine-in experience is expected to boost the restaurant sector in the coming year, but market forces mean growth will still be well down on pre-Covid times, according to the latest research from Lumina Intelligence.
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InterviewsSteve Holmes: ‘We have scenarios coming out of our ears’
The inability to effectively plan for the long-term is an issue that has blighted restaurant operators during the pandemic, but an Easter reopening makes the most sense to work to, says Steve Holmes, CEO at Azzurri Group.
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NewsDemand for rural and coastal pubs on the up
Investor appetite for pubs remains healthy with many buyers undeterred by the impact of the pandemic, according to Christie & Co’s Outlook 2021 report.
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InterviewsZoe Bowley: ‘We are fully energised to seize opportunities’
Following what can only be described as a transformational 2020, Pizza Express is primed and ready for the next stage of its growth, according to MD Zoe Bowley.
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InterviewsWill Beckett: ‘We have tried to do optimistic realism’
Hawksmoor CEO Will Becket has described a decision to lay of staff as the pandemic worsened as “the worst day of my professional life”.
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NewsSunak says more support to be revealed in Budget
Chancellor Rishi Sunak has said that extra economic support is on the way but warned that the economy will get worse before it gets better.
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NewsTim Martin nets additional £50m in further share sale
JD Wetherspoon chairman Tim Martin has sold 4.37m of the Company’s ordinary shares, at a price of £11.50, netting him £50m, but reducing his holding in the company to 21.88%.
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NewsDining Street goes into administration
Casual dining operator Dining Street Limited has appointed administrators, with all 147 staff made redundant.
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NewsPapa John’s launches flexible franchising formats
Papa John’s is to introduce new flexible franchising formats for 2021 as it looks to expand its reach into new types of location.
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NewsResearchers suggest pubs and restaurants should be shut till May
Pubs and restaurants should not reopen until May, researchers from Imperial College London and the universities of Edinburgh and Warwick have recommended.
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News
TRG appoints new non-exec director
The Restaurant Group (TRG) has appointed Alex Gersh as a non-executive director. He will join the board on 23 February 2021 and will become a member of both the audit and nominations committees.