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Newswire - 4 August

04 August 2020Newswire Topics: Hotels & Guest Houses, Leisure & Nightclubs, London, Pubs & Bars, Rental, Restaurants, Survey
Newswire - 4 August

Trade levels increasing in managed pubs

The Coffer Peach Business Tracker figures to 20th July showed like-for-like sales were still 28.5% down on the same week last year. However, that was better than the previous 2 weeks at -31.6% and -39.8% in the first week after lock-down was lifted.

Reopened pubs failing to make profit

Despite 89% of British Institute of Innkeeping (BII) members being open, 60% are making no profit despite the furlough and other financial support packages.

Sheffield City Council expand support for the city's night-time economy

Grants of £10,000 are available for independently run restaurants, nightclubs, music venues, pubs, cafes, cinemas, theatres, wine bars, casinos, bingo halls and food halls who have a rateable value above £51,000.

Cadogan Estates move hospitality businesses to turnover-based rent

The 300-year-old estate will fund rent relief for more than 30 hospitality tenants by switching them to turnover-based leases. The landlord has also extended rental support for smaller and independent retailers on a case-by-case basis.

Gusto accelerated sales process

The 18-strong Italian casual dining group is working with restructuring advisory firm RSM on an accelerated sales process.

K10 to undergo CVL

The 5-strong Japanese restaurant business has instructed Begbies Traynor to assist in putting companies within the group into a creditors voluntary liquidation.

Pizza Hut has appointed advisors on restructuring option

The 240-strong brand has instructed professional services firm Alvarez & Marsal to examine the merits of a company voluntary arrangement (CVA).

Merlin Entertainments to reopen attractions

The company said Madame Tussauds London, SeaLife London Aquarium, The London Dungeon and the London Eye would reopen on 1st August.

Closures

Bitters 'n' Twisted Venues has shut two of its sites in Birmingham.
Michelin-starred restaurant Wilks in Bristol is to close permanently.
Cotswold-based restaurant De La Haye has gone into liquidation.
Birmingham-based Bar Opus, has announced it won't reopen.

New Openings

Enish has opened its sixth site in Brixton.
Joule's has launched its first hotel - the Swan Hotel in Forton, Shropshire.
Holiday park operator, Darwin Escapes, has acquired a 40-acre site in North Wales.
Indoor climbing company Boulders is opening a second site, in Cheltenham.
Elliott Shuttleworth has launched an adventure bar franchise in Norwich called Boom: Battle Bar.
The Bubble Inn operator has added a fourth venue in Kniveton, near Ashbourne.
Manchester-based vegan restaurant Vertigo is to open its third site in the city.

And Finally...EOHO promotion wars continue

Coconut Tree is to remove the £10 per person limit and include alcohol.
Hawksmoor has reduced the price of its 300g rump steak and chips to £20.
Whitbread will remove the £10 limit.
D&D London is introducing a special 3-course set menu from £25 to £40.
Michelin-starred Social Eating House in Fitzrovia is to launch a £12 for two courses offer.

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Author

Graeme Bunn

Graeme Bunn

Managing Director

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