At this challenging time we appreciate that owners and operators need information in order to understand their options. Fleurets remain available by email and telephone, and continue to provide all our usual advisory and transactional services, as we work together to support your business’s needs.
Pubs, bars, and restaurants can open from 4 July with 1m+ social distancing
Guidance on what constitutes appropriate risk-mitigating measures is vague. Measures include:- No sport, singing or standing at the bar. Perspex screens, table spacing, surface cleansing, one-way traffic systems and toilet queues. It also advises on table seating and recording the names and contact details of people entering the pub to facilitate track and trace. Kate Nicholls CEO of UKHospitality thought the guidance was flexible and pragmatic enabling venues to adopt measures that suited their own circumstances.
A significant proportion of the country's pubs & restaurants will not reopen straight away
GK will open two thirds of managed houses on 6th July. Shepherd Neame will open two thirds of its pubs 'before the end of July. Marston's expects to have 85% to 90% of its units, both managed and tenanted, open on or very shortly after 4 July. However, there is some consternation as to the choice of date. July 4th is a Saturday a Monday or a Tuesday may have been better as it would have allowed operators to build up to the weekend. There is some concern that supply chains will not be able to cope.
Many hospitality operators can't open from the 4th July
Hotels, bed and breakfasts, holiday parks, campsites and most tourist attractions like theme parks and arcades can open from the 4th, but Nightclubs, indoor gyms, bowling alleys, water parks, soft play centres, spas, pools and indoor leisure facilities will remain closed, but Boris Johnson said they would "reopen as soon as possible".
Fleurets - pub operators anticipate turnover to be 50% to 75% of pre-covid levels:
The majority of pub operators believe their trading performance over the next 12 months will be at 50% to 75% of the level generated before coronavirus. The research, which featured 100 operators and 750 sites, found almost 19% were expecting an increase in trade immediately following 4 July, 40% expected to return to normal levels only once all restrictions were lifted, 28% felt it would be 2021, and 24% saying 2022. 3.3% said it never would return.
The Timpson family purchase 16 Hospitality from administration
The family behind the well-known shoe repair chain has purchased the group, it previously owned, out of administration. The group operated four pubs - two in Cheshire and two on Anglesey.
Ei Publican Partnerships extends support for publicans
The total support package (now in excess of £28m) has been extended to include rent credit equivalent to 75% for July and 50% for August for all tied publicans on substantive agreements
The Rick Stein Group is to permanently close 2 of its restaurants
The sites in Marlborough, Wiltshire and Porthleven, Cornwall, will not reopen. The group, which continues to operate 12 sites across Cornwall, Dorset, Hampshire and London, is accepting bookings from 4 July, in preparation for the hospitality sector being allowed to reopen from that date.
Trade hopes for VAT reduction. Chancellor Rishi Sunak is ready to slash VAT and pump billions into the economy. The options are being investigated and include: a cut in the headline rate and zero rating more products for a fixed period. Treasury officials pointed out Sunak could lower VAT and business rates at the stroke of a pen when he makes a planned speech on the economy in early July.