24/03/2020
It is impossible, and indeed it would be inappropriate, not to face head on the issues currently affecting UK businesses and their employees, especially those in the leisure and hospitality sector. Fleurets, like so many other businesses, is affected by the impact of the spread of Coronavirus. At this unprecedented time, there remain stories of hope, solidarity and entrepreneurial spirit which we hope will see us, and our clients across the sector, through this uncertain period.
Government orders closure of pubs and restaurants
In a significant step to implement social distancing and reduce the spread of Coronavirus, the Government ordered the closure of all pubs, bars, restaurants and cafes after Friday 20th March 2020. At the same time, the Chancellor has set out the largest financial support package since the end of WWII including a 12 month business rates holiday for all business and payment of 80% of salaries up to £2,500 per employee.
Operators turn to takeaway
With pubs and restaurants forced to close their standard form of operation, many are turning to takeaway to support their local communities and provide an alternative source of income and survival. As Big Hospitality reported, a temporary measure is due to be effected by the Government to enable businesses to operate as a take away for a period of 12 months without requiring formal change of use.
Brewdog supports sanitiser supplies
With hand sanitiser in short supply, a number of brewers and distillers have stepped in to support production. As reported by thedrinksbusiness.com, the likes of Brewdog, Pernod Ricard and Absolut Vodka are just a few from around the world making their contribution.
Inn Collection Group grows to 14 sites
The Inn Collection Group has increased their portfolio to 14 sites following the acquisition of the Swan in Grasmere, Cumbria. This adds 38 bedrooms to the portfolio and the hotel will undergo refurbishment and redevelopment prior to reopening (reported in The Caterer).
Inda Pubs takes on Wilton Arms, Belgravia
Pub and Bar magazine has reported that Inda Pubs, set up by James Corbett in 2012, has signed a new 20 year lease on the Wilton Arms in Belgravia at a rent of £90,000pa. This brings the group to seven sites with the other sites including The Hillgate in Notting Hill, The Larrik in Marylebone, The Selkirk in Tooting, The Mitre in Fulham, The Island in Kensal Green and The George Inn in Barford St, near Banbury.
And Finally...
Throughout this exceptionally difficult time for landlords and tenants alike across the leisure and hospitality sector, the whole of the Fleurets team remain available to all our clients and contacts as we work remotely. We believe that continuing to provide all our usual advisory and transactional services is more important than ever before, as we work together to support your businesses and properties. Please don't be shy about picking up the phone to any of the team.