11/08/2020
The Country Pub Group goes into administration
The 4-strong Somerset group have appointed Opus Restructuring as Administrators.
Bill's to close part of estate
The restaurant brand is expected to close 20 of its 78-strong estate, including sites in Glasgow, Worcester and London.
YO! Explores possible CVA
The Japanese food group has appointed Deloitte to explore the possibility of a CVA.
Trade increasing but profitability is challenging
S4labour data shows LFL sales have increased every week since re-opening, now at 70% of last year, up 9.4% from last week helped by EOHO. But a BBPA survey says 37% of UK pubs can't break even one month after reopening and 25% of member businesses said they didn't feel their business was sustainable beyond March 2021.
Hotel occupancy continues to increase
The latest data from STR shows occupancy level improvement to 37% (from 33%) but city centre locations are still struggling. Plymouth was highest (66%), followed by Blackpool (61%). London saw the lowest (24%), with Cardiff and Edinburgh (both with 28%).
Tenants say Pubcos are imposing rent solutions not negotiating them
87% of regulated pub company tenants have said rent solutions have been imposed, not negotiated. The survey by the Licensees Association showed 52.9% had agreed new rent levels for the lock-down and post-lock-down period.
Casual Dining Group to become The Big Table
CDG, the operator of 150 outlets under brands including Las Iguanas, Bella Italia and Cafe Rouge, will be known as The Big Table following completion of the acquisition by private equity group Epiris.
Byron sold in pre-pack administration
The burger chain has been sold through a pre-pack administration to investment vehicle Calveton UK in a deal that will see 31 of the group's 51 sites close.
Itsu launches CVA process
The healthy Asian food chain has confirmed it is to undergo a company voluntary arrangement (CVA), which will see 53 of its 77 sites get a rent cut and 2 close.
EOHO competition as 73,000 businesses sign up
Dishoom is removing the £10 limit.
Morrisons will run the 50% discount all week. The prices will also include the 15% VAT cut and let children eat free all day during August, meaning a full breakfast will cost £1.62 and fish & chips £2.25.
And Finally...New openings
Too many to mention them all but a selection include:-
Inn Collection has launched The Coniston Inn in the Lake District
Sanjeev Kapoor has opened his debut UK restaurant the Yellow Chilli in Wembley.
Hollywood Bowl is to open Puttstars in Rochdale.
Wingmans is to open its largest site to date, in Soho.
Priory Inns North West has opened its tenth site, The Big Lock, in Middlewich, Cheshire.
Wingstop has opened its third site, at Bluewater in Kent.
Hang Sing Hong will launch two concepts - Oba Kitchen and Mi's Noodles - at The Merrion Centre in Leeds.
Young's has acquired the leasehold interest of The Royal Oak in Bethnal Green where they are already Landlord.
Estabulo Rodizio Bar and Grill has secured a site at Vangarde Shopping Park in York (a former Giraffe unit).