London’s businesses can lead a UK-wide economic recovery June 12, 2020 As the focus shifts from the immediate health crisis of Covid-19 to slowly easing the lockdown, the capital’s business leaders are committed to playing their part. Early this week, I brought together some of London’s most prominent businesses, representing all sectors of the economy, to map out solutions that support a business-led recovery. From Heathrow, [...]
Beer sales sink to 20-year low June 11, 2020 Beer sales in the UK slumped to their lowest levels for 20 years in the first quarter of 2020, as the lockdown continues to weigh on the hospitality industry. The figures Figures released today by the British Beer & Pub Association (BBPA), the largest brewing and pub body in the UK, showed that beer sales [...]
Coronavirus lockdown: England zoos and outdoor attractions reopened June 10, 2020 Zoos and outdoor attractions such as drive-in cinemas will be able to open in England from Monday. Prime Minister Boris Johnson announced today that the government would allow these businesses to open, with social distancing restrictions required. In the case of zoos, they will need to close all inside areas such as reptile houses and [...]
Two metre social distancing rule ‘would leave many small businesses unable to make profit’ June 10, 2020 Many of the country’s small companies will not be viable unless two metre social distancing rules are relaxed, the Federation of Small Businesses (FSB) has claimed. Ahead of non-essential shops reopening next week, FSB chairman Mike Cherry this afternoon added to pressure on the government to cut the nationwide two metre rule, which has already [...]
Premier Inn owner scoops up almost £1bn to bolster against pandemic June 10, 2020 Whitbread investors have agreed to supply more than 90 per cent of its £1bn cash call, the Premier Inn owner announced today, as it attempts to beef up its balance sheet amid the coronavirus crisis. Existing investors scooped up 91 per cent of the discounted 1-2 fundraiser issued by the hotel group in a bid [...]
Restaurant Group to close 125 sites as it looks to cut costs June 10, 2020 The Restaurant Group has announced plans to close 125 of its sites, as the company seeks to push down rents to weather the financial storm of the coronavirus crisis. The closure, which puts around 3,000 jobs at risk, will mainly impact its Italian-American-themed Frankie & Benny’s chain. It marks a significant cut to the size [...]
Shaftesbury swings to £287m first half loss as coronavirus hits property value June 10, 2020 West End landlord Shaftesbury has swung to a £287m first half loss, as the value of its estate plummeted in the wake of the coronavirus crisis. The company, which has a portfolio of restaurants, pubs, shops, and workspaces in central London, said that the store closures brought about by the nationwide lockdown had affected tenants’ [...]
UK lockdown: Zoos and drive-in cinemas could reopen from 15 June June 10, 2020 Prime Minister Boris Johnson is today expected to outline which sectors of the UK economy will reopen after lockdown on 15 June, such as zoos and drive-in cinemas. The UK is slowly reopening its economy after it entered lockdown on 23 March, leading to the widespread closure of restaurants, pubs, gyms, cafes and most shops [...]
Hospitality industry asks government for financial support to overcome rent deadlock June 9, 2020 The hospitality industry has warned there will be significant job losses and business failures unless the government provides financial support to overcome the rent stand-off between landlords and tenants. Trade body UK Hospitality has said that a continued “stalemate” between landlords and tenants on the matter of unpaid rent needs to be resolved or reopening [...]
Number 10 pours cold water on speculation UK pubs will open on 22 June June 8, 2020 Downing Street has poured cold water on reports that parts of the hospitality industry will be re-opened two weeks ahead of schedule on 22 June. Reports in the Financial Times and The Times today said ministers were looking at re-opening the sector on 22 June for venues that can serve patrons in outdoor spaces. However, [...]