Coronavirus: What does entertaining look like in a post-pandemic world? April 8, 2020 What will life be like after the Coronavirus? What will restaurants be like? What kind of holidays will we have? Who will be going to concerts? I’m pretty sure it’s not what you expect… how do I know? Well, at Ten Group – the world’s most successful lifestyle concierge service (“TENG” on the London Stock [...]
Coronavirus: Tesco could take £925m hit on extra staff and delivery costs April 8, 2020 Tesco warned it could take a hit of up to £925m due to the impact of hiring extra staff and ramping up distribution due to the coronavirus outbreak. The supermarket this morning said it expects retail costs to increase by between £650m and £925m, but said the sales boost caused by stockpiling and business rates [...]
Heineken withdraws guidance as coronavirus dents sales April 8, 2020 Heineken has withdrawn all guidance for the year as beer volumes fell in the face of the coronavirus outbreak. The Dutch brewing company said the pandemic was having a “significant impact” on business in 2020, noting the restriction of movement, outlet closures and the lockdown of production facilities. Total consolidated volume is expected to decrease [...]
Pub companies urged to help tenants amid coronavirus crisis April 7, 2020 Pub companies have been ordered to do more to support tenants during the coronavirus crisis, after it was revealed that most regulated firms have not offered to waive rents. The Pubs Code Adjudicator, which regulates companies that own 500 or more tenanted pubs in England and Wales, said five out of six firms had not [...]
Coronavirus: The Restaurant Group boss to take 40 per cent pay cut April 6, 2020 The boss of Wagamama owner The Restaurant Group will take a 40 per cent pay cut as the casual dining company battles the financial impact of coronavirus. Chief executive officer Andy Hornby, who joined the company in August last year, will also forego his bonus of £98,000. The Restaurant Group finance chief Kirk Davis has [...]
Fuller’s suspends dividend during closure of pub estate April 3, 2020 Fuller’s has suspended its dividend as part of cost-cutting measures during the closure of its entire pub estate amid the coronavirus lockdown. Like a number of firms exposed to the impact of the coronavirus lockdown, the Fuller’s board has decided to preserve further cash and suspend the final dividend. The pub firm said it had [...]
Accountancy firm criticises ‘alarmist’ prediction of 800,000 coronavirus insolvencies April 2, 2020 Restructuring specialists at accountancy firm RSM said media reports that 800,000 to 1m UK businesses could collapse as a result of the coronavirus crisis are “alarmist at best”. Yesterday, the BBC, citing an unnamed accounting firm, said 800,000 to 1m businesses, a fifth of the UK total, “may soon have to close”. RSM partner Gareth [...]
Nearly 1m people apply for Universal Credit as coronavirus lockdown paralyses economy April 1, 2020 Nearly 1m people in the UK have applied for Universal Credit in the two weeks since Prime Minister Boris Johnson implemented strict lockdown measures, the government said today. There are normally around 100,000 applicants per two week period – in the last two weeks there were 950,000. The government has moved 10,000 staff to process [...]
Coronavirus: Deliveroo to provide 500,000 free meals to NHS staff March 29, 2020 Deliveroo has pledged to deliver 500,000 free meals to NHS workers across the country as the UK gears up for the peak of the coronavirus outbreak. The delivery firm said it has begun providing meals to NHS trusts, while customers will be able to donate funds to buy food for doctors and nurses through its [...]
UK coronavirus: Chief medical officer Chris Whitty self-isolates March 27, 2020 Chris Whitty, the UK’s chief medical officer, has self-isolated after experiencing coronavirus symptoms. Whitty, charged with advising Prime Minister Boris Johnson on the UK’s response to the coronavirus outbreak, said today he has tested positive for the virus. Johnson and health minister Matt Hancock earlier confirmed they have caught coronavirus and are self-isolating. Whitty said [...]