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Newswire - 22 December

22 December 2020Company News Topics: Pubs & Bars, Rental, Restaurants
Newswire - 22 December

Thousands more pubs plunged into tier 3

The Morning Advertiser reported that many more pubs will be forced to close for Christmas, with the exception of offering takeaways, as eight more regions are moved into tier three.

Deltic bought out of administration by Rekom

According to Big Hospitality, late-night bars and club operator Deltic has been bought out of administration by Scandinavia's largest nightclub club REKOM UK, in a move that will secure more than 1,000 jobs. The deal sees Rekom UK take over 42 bars and clubs. Rekom UK is to merge with Rekom Group, which operates more than 130 bars and clubs in Denmark, Finland and Norway.

Leon receives CVA approval

The Caterer advised that Creditors of natural fast food brand Leon have approved a plan to restructure the firm's finances through a company voluntary arrangement (CVA), preserving 670 jobs.

Revolution Bars Group blames UK government's 'scandalous' and 'inept' decisions for £31.7m losses

City AM advise that Revolution Bars Group recorded pre-tax losses of £31.7m for their preliminary yearly results, following a tough year for the hospitality industry. However, the company laid scathing criticisms for its losses on the door-step of the government. Chief executive Rob Pitcher said the UK government's actions towards wet-led bars and late-night hospitality are "nothing short of scandalous".

Pistachio Holdings buys majority stake in Creams

Investment company Pistachio Holdings has acquired a majority stake in the leading 93-strong dessert brand, Creams, according to Caterlyst. Creams founders Adam Mani and Balal Aqil will remain fully involved in the business and will be supported by incoming director and investor, Ankush Shah, of Pistachio Holdings.

German Doner Kebab opens 50th UK site

Fast Casual reported that German Doner Kebab (GDK) has opened its 50th UK restaurant in the UK. The brand has reached the landmark following the launch of the site in Peterborough. GDK has forged ahead with growth during the coronavirus pandemic, opening 13 restaurants and creating in the region of 500 jobs. It has plans in the pipeline for 350 franchised units over the next seven years.

Airbnb soars to near $100bn valuation as shares more than double in IPO

The Guardian advised that shares in Airbnb more than doubled when the company started trading on the Nasdaq stock exchange on Thursday - a price that valued the short-term rentals company at close to $100bn. For context, at that time Marriott, Hilton, and Intercontinental combined were worth slightly less at $84.1 billion.

And Finally...

Food business Brakes - which works with 50,000 UK pubs - has told Sky News that demand for scotch eggs has surged after ministers said they were sufficient to meet COVID rules for ordering alcohol in pubs and restaurants. Apparently, demand has increased tenfold. Judging from the spike in demand, many people now appear to view the scotch egg as the go-to food for ordering a pint.

Merry Christmas from all of Fleurets!

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Author

Graeme Bunn

Graeme Bunn

Managing Director

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