Business

Maxwell’s Restaurant Limited has gone into liquidation resulting in 400 members of staff being left redundant.  The restaurant group, which owned popular London venues such as Maxwell’s Bar and Grill, Cafe de Paris and Palm Court Brasserie said “reduced customer numbers” due to Covid-19 was one of the reasons for…

Managed pub and restaurant groups across the UK saw sales drop 90.2% in November, as lockdown hit England and trading restrictions continued in Scotland and Wales, according to the latest data from CGA. Its research collected sales figures directly from 48 out of the 60 leading hospitality companies that provided…

Marston’s, the British brewery, pub and hotel operator, has reported a loss of £397m in the 53 weeks ended 3 October 2020. The company’s total revenue fell sharply from £1.17bn in 2019 to £821m this year, as sales were greatly reduced by the 15-week closure of pubs from the end…

Italian restaurant chain Prezzo has been acquired by the privately held investment firm, Cain International, for an undisclosed fee. A self-proclaimed “long-term investor”, Cain’s existing portfolio in the hospitality industry includes Swingers, Maslow’s Group, and The AllBright. While the sector is currently enduring a difficult period, the investment firm said…

Hospitality businesses claimed £849m through the Eat Out to Help Out scheme (EOTHO) providing discounts for over 160 million meals in August, new government figures show.  According to HMRC, over 52,000 businesses registered for the scheme and 49,000 of these had made a claim for the scheme by 30 September.…

Mitchells and Butlers, the pubs, bars, and restaurants group, has announced pre-tax losses of £123m for the financial year ended 26 September. Also revealed in the company’s full year results was the confirmation of approximately 1,300 redundancies since the year end. The firm’s revenues took a hit as a result…

Deliveroo has named Claudia Arney as the company’s first chair, as the business gears up for a “year of growth”.  Arney, who currently holds directorships at the Premier League, Ocado, Kingfisher and Derwent London was officially named leader today (25 November).  News of the hire comes as Deliveroo experienced a…

Restaurant Brands Collective, a new company offering franchise food brands for virtual delivery or dine-in, has been launched by a team of food development, operations, and franchising experts. The company aims to offer individual franchise solutions, in a bid to help multi and single site hospitality businesses use a range…

The British Beer and Pub Association (BBPA) has called for further government support for the sector, following revelations that 72% of hospitality and pub businesses could become “unviable” and close in 2021. The association said that an extension in VAT cuttings and the business rates holiday are “top priorities” for…

Greater Manchester’s evening hospitality economy could reportedly take “five years to recover” from Covid-19, according to the area’s night-time economic advisor Sacha Lord. According to the BBC, Lord said One in ten night-time businesses could permanently close in the area, and 80% of restaurants have reportedly planned on making redundancies.…