29/03/2022
The lease forfeiture moratorium, which has protected commercial businesses from eviction during the pandemic, has now expired and been replaced by a law to help resolve remaining rent debts. The Commercial Rent (Coronavirus) Act 2022 received Royal Assent last week, meaning that now a legally binding arbitration process will be available for eligible commercial landlords and tenants who have not already reached an agreement, advises Big Hospitality. "This new law will give commercial tenants and landlords the ability to draw a line under the uncertainty caused by the pandemic so they can plan ahead and return to normality," says Business Minister Paul Scully.
Operators have been warned the impact of the Ukraine crisis is a long-term threat to food prices. Buying specialist Lynx Purchasing cited data from the Office of National Statistics (ONS), which reports the average price of restaurant meals last month was up 6.4% year on year ahead of the overall inflation rate at 6.25%, advises Morning Advertiser. In additional to the recent sanctions, Lynx Purchasing's Market Forecast stated the labour shortages impacting hospitality are also being seen in transport and distribution and the higher costs the sector is now facing may have to be budgeted for as the 'new normal' for the foreseeable future.
Chancellor Rishi Sunak's Spring Statement last week has been described as a "missed opportunity" to help hospitality businesses and failed to commit to the hoped for VAT cut. Judging by the lack of mention of VAT in the chancellor's Spring Statement, it seems the rate will return to 20% in April this year. However, The Caterer has advised that he did confirm that from next month, the 50% year-long discount on business rates up to £110,000 will be available for the retail, hospitality and leisure sectors.
CGA's Drinks Recovery Tracker shows that average sales by value in managed pubs, bars and restaurants in the seven days to 19th March were 7% ahead of the same week in March 2019. After two weeks of sales just 1% off the levels of March 2019, it continues the steady recovery of the drinking-out market since the removal of COVID-19 restrictions. However, with cumulative inflation since 2019 running well above the 7% mark, sales remain well below pre-pandemic patterns in real terms, report CLH News.
The licensing hours for pubs, bars and clubs will be extended for an extra two hours for three nights over the Queen's Platinum Jubilee weekend in June, to celebrate Queen Elizabeth II's 70 years on the throne, reports Morning Advertiser. Licensed premises will be able to serve alcohol until 1am, rather than the standard 11pm cut off, on Thursday 2nd, Friday 3rd and Saturday 4th June, announced home office minister Kit Malthouse.
A traditional dish has been given a rebranding to make it more befitting of a gender-neutral age, at a pub in the Dartmoor village of Belstone, Devon. According to The Telegraph, The Tors pub now offers what it has described on its menu as the "ploughperson's" lunch.