News
The latest industry news from the business journalists at Catering Today. We bring you the latest on what’s happening in the restaurants, bars and catering industry, with exclusive stories, analysis, best practice and industry comment.
-
Nov- 2020 -16 November
Greggs to make 800 job cuts
Greggs has announced plans to cut over 800 jobs from its UK sites, as a result of trading difficulties due to Covid-19. This month, chief executive Roger Whiteside issued a statement on the company employee information site revealing that recent weeks have been “particularly difficult” for the chain and the…
Read More » -
16 November
Gategroup announces financial restructuring
Gategroup Holdings has announced that its shareholders, RRJ Capital and Temasek, and all bank lenders have reached a principle agreement to support a “comprehensive restructuring of the group’s financial indebtedness”. The catering company said the proposed transaction will reportedly provide the group with “significant new liquidity” to address the company’s…
Read More » -
13 November
Restrictions drive October pub and restaurant sales into reverse
The roll-out of more regional Covid restrictions further depressed sales in Britain’s managed pub, restaurant and bar groups in October, according to the latest data from the Coffer Peach Business Tracker. The tracker, which is produced by CGA in partnership with RSM and The Coffer Group, found that 83% of…
Read More » -
13 November
Chancellor unable to rule out further EOTHO schemes
Chancellor Rishi Sunak has declined to rule out further measures similar to the Eat Out To Help Out scheme when the economy reopens after the latest lockdown. According to Sky News, Sunak said the government would look at a “range of things” to “get consumers spending again and people out…
Read More » -
13 November
Whitbread to reduce number of redundancies
Hotel and restaurant company Whitbread has told The Times that it will reduce the number of redundancies at its hotels and restaurants. The owner of Premier Inn and Brewers Fayre said that redundancies will be “significantly less” than the 6,000 it announced in September. In a statement to The Times,…
Read More » -
13 November
Middletons Steakhouse & Grill to expand portfolio
Restaurant group Middletons Steakhouse and Grill has announced plans to expand its portfolio with an eighth restaurant in Cambridge. Some £500,000 has been invested into the 170-cover restaurant that is set to open in December. The group operates an annual turnover of roughly £15m, employing 275 staff across its seven…
Read More » -
13 November
Caffe Nero launches CVA proposal
Caffe Nero has launched a CVA proposal, in which it will ask landlords to cut costs as the ongoing impact of Coronavirus take its toll on the coffee chain. The company which employs 6000 people said it was undertaking the proposal to “better manage” its fixed costs moving forward in…
Read More » -
12 November
Casual Dining show postponed until September 2021
The Casual Dining trade show, which was set to take place in March next year, has been postponed amid the ongoing Covid-19 pandemic and government restrictions. The event, which is dedicated to the casual dining sector, will now take place between 23-24 September 2021 at ExCeL London, its organiser Diversified…
Read More » -
12 November
Hospitality figures pen letter calling for EIS amendment
Hospitality figures backed by the UK hospitality trade bodies have written an open letter to Rishi Sunak calling for an amendment to the current EIS and SEIS to “boost private investment in the sector and provide an alternative to government loans”. The proposals from Alan Lorrimer, founder of The Piano…
Read More » -
12 November
Young’s swings to pre-tax loss of £19m
Young’s, the pub chain and brewery, has reported a pre-tax loss of £19.2m in its interim results for the 26 weeks ending 28 September. The results come after the company reported pre-tax profits of £26.6m during the same period last year. While total revenue for the ten weeks since opening…
Read More »
