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.
More Restaurant collapses predicted
Accountant UHY Hacker Young has said that the UK is likely to suffer a series of restaurant collapses later this year as costs post the lockdown will rise and demand will not return to pre Covid-19 levels for some time. The sector was already under pressure from rises in the National Living Wage and other costs.
Proposal to allow hospitality businesses to use open space
A host of operators are backing the #UKGrandOutDoorCafe campaign which calls for the temporary easing of regulations to allow operators to use open spaces and public squares to serve food and drink The streets of London's Soho could be pedestrianised temporarily to help sector businesses spring back to life.
Leon working with advisors and landlords to find 'right solution'
Natural fast food brand Leon has confirmed it is working with advisors and landlords in regards to its current rental levels. A Leon spokesman said "We are working with consultancy firm Quantuma and our landlords to find the right solution for everyone." It is thought the business is pushing to change to a turnover-based rent model.
Bespoke to open second Hotel Brooklyn, in Leicester
Bespoke Hotels is to open its second Hotel Brooklyn, in Leicester. The 191-bedroom hotel, restaurant and bar is set to open in summer 2022 and follows the launch of its Manchester unit in February. The new hotel will be located beside the expanded Welford Road Stadium - home to Leicester Tigers rugby team.
Spanish nightclub industry draws up code to allow safe opening
Dancing with masks on, sipping drinks with straws and keeping to marked off areas of the dance floor are among post-lock-down safety proposals aimed at helping Spain's nightclubs reopen their doors in time for the summer season.
The Casual Dining Group receives interest from buyers
CDG has received interest from a number of parties regarding a potential sale of the business. The group has already filed notice of its intention to appoint an administrator.
Minister says 2m distancing is to be maintained
Housing minister Simon Clarke has said the government intends to maintain a two-metre social distancing rule despite a new World Health Organisation (WHO) report which found people have just a 2.6% chance of catching coronavirus if they stand one metre away from an infected patient.
Bloomberg lead the way with rent holiday
Landlord Bloomberg has decided to continue the rent and service charge holiday it brought in at the end of March for the remainder of 2020 for its tenants in Bloomberg Arcade.
TRG to close over 100 sites
The vast majority of the site closures will come from the circa 240-strong Frankie & Benny's estate. TRG currently operates circa 290 sites across its leisure division, which doesn't include Wagamama, which is unaffected by the closures. In an email to staff, TRG said many sites were "no longer viable to trade and will remain closed permanently".
Whitbread to restart Premier Inn developments
Whitbread is reopening 35 construction sites in England and Wales as the business focuses on continuing building works. The sites include new-build hotels as well as extensions to existing sites. They account for more than 4,500 Premier Inn and Hub by Premier Inn rooms scheduled to open from 2020 to 2023.
Azzurri Group contacting bidders
The ASK Italian, Zizzi and Coco di Mama operator, has begun contacting prospective bidders for the business. KPMG, which has been advising Azzurri on its options, is inviting offers for part or all of the circa 300-strong business. The process is at an early stage, and is said to be only one of the options Bridgepoint is considering for the future of the company.
A New Pub model will do more damage to the business than coronavirus. Patrick Dardis, chief executive of Young's has said "pubs were, and will always be, social hubs for people to meet, and trying to recreate them with extensive social distancing measures in place was a "non-starter". We want pubs to look like pubs and so do our customers. We are not looking to open pubs in a 'new normal' - we're looking to reopen them as they were. That's why we have said we won't open most of our sites until 3 August."