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.
The Prime Minister's statement
James Calder, SIBA CEO said it: "gave us a starting point and a methodology for how we will come out of lockdown. We need to see the detail of which sectors are included within 'step three' but at this stage it looks like pubs will follow restaurants, cinemas and cafes in July, but only if we maintain control of the virus. That may mean that the partial awakening of our sector is still at least 8 to 12 weeks away."
40% of pubs won't survive beyond September without more government support
The BBPA has warned 40% of Britain's 47,000 pubs won't survive beyond September, unless they get more support from government to get them through the lock-down. The findings mean almost 19,000 pubs could stay closed permanently, resulting in the loss of 320,000 jobs in regions across the UK. They went on to say that 'pubs are in desperate need of access to finance, with 75% still waiting on loans and more than 50% yet to receive grants.'
Hall & Woodhouse extends business partners' rent cancellation period
Hall & Woodhouse has announced a further extension to the cancellation period of all rent and service charges for its business partners. Publicans will be exempt from paying rent and service charges until Saturday, 27 June and it is also suspending loan repayments for the same period. Propel
Prezzo appoints FRP Advisory
Sky News reported Prezzo has appointed FRP Advisory, which is currently acting as administrator to Carluccio's, to explore the implications of the covid-19 crisis for its balance sheet.
Byron appoints KPMG
Byron, the UK casual dinner burger chain, is understood to have instructed KPMG to explore a sale of the business by way of an auction this coming week.
Azzurri Group appoints KMPG
The ASK Italian, Zizzi and Coco di Mama operator with 300 units, has appointed advisors KMPG as it seeks to navigate its way through the lock-down and out the other side, as it looks to "take action to secure the future of the business".
Businesses announcing the re-opening of units for delivery and takeaway gather pace including: Honest Burgers 8; Pret A Manger 20; Gourmet Burger Kitchen 3; Franco Manca 5; Chilango 2; MeatLiquor 2; The Coconut Tree 1; Turtle Bay 4; Patty & Bun 4; Shoryu Ramen 1; Taco Bell 6; McDonald's 15; KFC drive-thrus of 55 of the 100 restaurants it has already reopened for delivery. Giggling Squid 2; Five Guys 14; Bone Burger Co 7; Tim Hortons 7; Tortilla 8; Chipotle 3.