22/06/2021
Hospitality 'unreservedly welcomes' extension to commercial eviction ban
The lease forfeiture moratorium, which prevents the repossession of commercial premises if businesses are unable to pay their rent due to the pandemic, has been extended until March 2022, Big Hospitality has reported.
East Asian food chain Itsu plans to open 100 new stores after striking an investment deal with private equity firm
The company, founded by Julian Metcalfe, has sold a minority stake to Bridgepoint Capital. This is Money advise that this is the second time Bridgepoint has backed one of Metcalfe's ventures, after previously investing in his Pret a Manger sandwich chain in 2008. Bridgepoint is thought to have paid around £200million for a 30 per cent stake in Itsu, potentially valuing the chain at more than £660million overall.
'Toxic culture letter 100% my fault' says BrewDog's James Watt
The Morning Advertiser has advised that BrewDog co-founder James Watt has taken responsibility for the company's culture and stated the letter, claiming the business had a "toxic culture" was his fault.
Brighton Pier Group pays £5m for Lightwater Valley theme park
The theme park that is home to Europe's longest rollercoaster is being acquired by the owner of Britain's eighth longest seaside pier. The Times claim that the Brighton Pier Group, which is chaired by the serial investor Luke Johnson, is paying £5 million for Lightwater Valley, a theme park in Ripon, North Yorkshire, set in 175 acres of parkland.
Roadmap delay 'will force 1 in 4 night-time businesses to close for good'
Following reports in the national media that the Government is expected to announce a four week delay to releasing all restrictions, one in four businesses in the night-time sector have stated they will not survive longer than a month without further support, according to the Morning Advertiser.
ETM Group owners raise £4.3m to fund and grow Maven Leisure
The Caterer reports that the group is looking to open at least seven premium bars in central London supported by this funding, which has been structured as £2.3m in EIS-qualifying equity and £2m in mezzanine debt, and will be used to take advantage of "favourable conditions" for acquiring prime London sites. Maven's group of bars will be anchored by a landmark new rooftop site on King William Street in the City of London, featuring an all-day indoor bar and restaurant space. Additional sites are expected to be added in the next 12-24 months.
And Finally...
Standing proudly, pint in hand, shoulder to shoulder, bars are normally packed with fans singing the national anthem when Wales play. But as the Euro 2020 finals continue with Wales due to play their Round of 16 game on Saturday, the atmosphere is much more tame. Due to Covid, the Welsh government had urged people not to sing or shout in order to stop the virus spreading. The BBC claim that one fan said not being able to sing the national anthem was "an alien concept".