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.
Blackrose accelerates expansion plans
The company, which currently manages 43 pubs, is aiming to increase this to 200 by the end of 2021. Managing director Daren Knipe told BDaily: "Blackrose's strategy has not changed in the post-covid-19 world; if anything it has enabled us to accelerate our ambitions and look at our offer and customer needs in a different way."
UKHospitality demands government action on rent to protect jobs
Without far-reaching intervention, there would be wide scale job losses and business failures in the coming months. In a letter to Alok Sharma, UKHospitality says that despite a moratorium on enforcement action, hospitality businesses are still being aggressively pursued by some landlords.
TRG to buy back five Food & Fuel sites
The Restaurant Group (TRG) is set to buy back five of the former Food & Fuel sites it placed into administration in March, including The Queens in Crouch End, and the two Coco Momo sites in Kensington and Marylebone. It is thought a further party is in advanced talks to take a further package of four ex-Food & Fuel sites, which includes the Sporting Page in Chelsea and The Queens Head in Holborn.
Multimillion-pound support package for Ei publicans
Stonegate Pub Company said all tied publicans on substantive agreements that are not in receipt of government grants would receive a three-month rent credit for the period April to June. Publicans who are entitled to grants of between £10,000 and £25,000, would receive trade credits of either 75% or 50% of the value of three months' rent. In addition, tie release fees and fixtures and fittings rentals are cancelled for the same period regardless of a publican's entitlement to grants.
Amazon's investment in Deliveroo will drive independent food businesses out the market
Domino's Pizza Group has told the Competition and Markets Authority (CMA) that Amazon's investment in Deliveroo would "result in driving small and independent food businesses out the market". The CMA provisionally cleared the deal last month after Deliveroo warned it would have to cease operations without the cash injection. Domino's said the "transaction will have irreversible and damaging effects on competition."
Administrators appointed to the Coal Exchange hotel in Cardiff
Coal Exchange Hotel is the latest operation from aparthotel operator and developer Signature Living's to enter administration. Kelly Burton and Lisa Hogg, of Wilson Field, have been appointed joint administrators.
Coronavirus Job Retention Scheme extended, until the end of October
The CVJRS will continue in its current guise until the end of July, however, from August to October the scheme "will continue with greater flexibility to support the transition back to work. Employers currently using the scheme will be able to bring furloughed employees back part-time and the government would ask employers to start sharing the costs of salaries. The government will publish details by the end of May.
Starbucks 150, Pho 3, Burger King 4, Subway 600 (phased), Caffe Nero 33, McDonald's 30 (drive-thrus), Nando's 32, Wasabi 1, Deep Blue 6, Moto 27 (Burger King sites), Cosmo 1, Costa 46, Honest Burgers 50%, GBK 3 and Bone Daddies 2.
Former England rugby captain and World Cup winner Phil Vickery has launched a food offering called No.3, which looks to provide high-quality cuisine that customers can collect and eat at home. Having initially planned to open a restaurant in Cheltenham this month, the former Celebrity MasterChef winner was forced to rethink the business model in the wake of the coronavirus crisis.