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.
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Jun- 2020 -29 June
TGI Fridays announces reopening of 66 sites on 6 July
TGI Fridays has announced the reopening of 66 of its UK restaurants on 6 July. The company said it will also reveal a “fresh new brand” which will be showcased at six specially selected restaurants, dubbed ‘Famous at Fridays’, with elements introduced across the rest of the estate. These new…
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26 June
Marston’s profits plunge as Covid-19 leads to £40m sales hit
Marston’s has said it remains “uncertain” about its short-term financial outlook, after its profits took a £40m hit following lockdown. Its latest update comes ahead of the reopening of its estate on 4 July. The brewer and operator revealed that its underlying profit before tax was £9.4m in the half-year…
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26 June
BBPA welcomes plans for ‘Al Fresco Pubs’, as pubs face 30% reduction in capacity
The British Beer and Pub Association (BBPA) has welcomed plans for ‘Al Fresco Pubs’, whereby pubs will be given more freedom to serve customers outside. The trade association said the move will help pubs on their road to recovery, as it reveals today that pubs in England face a 30%…
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26 June
Crussh appoints Simon Foster as new CEO
Crussh has appointed Simon Foster as the company’s new CEO to lead the re-start of the brand and navigate its next stage of development. According to the brand, Foster has made a career of building successful British brands, including Thorntons, Hovis, and most recently Yorica. As CEO of Crussh, Foster…
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26 June
Just 18.2% of commercial rents collected on June quarter day
Just 18.2% of commercial rents in the UK were collected by landlords on 24 June, this quarters’ rent date, according to new data from Re-leased. The cloud-based commercial property management platform said this contrasts to the 25.3% that was received on March quarter rent day, representing an overall decline of…
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25 June
Pret a Manger to pay just 30% of rent payments next quarter
Pret a Manger will pay only 30% of its rent over the next quarter after it warned it does not have “sufficient funds” to pay the bill in full. In a letter to landlords seen by the Evening Standard, chief executive Pano Christou warned landlords that the chain was in…
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25 June
Amazon’s proposed stake in Deliveroo cleared by CMA
The Competition and Markets Authority (CMA) has provisionally cleared Amazon’s 16% investment in Deliveroo for the second time, on the basis that it is not likely to result in a “substantial lessening of competition”. In its initial provisional findings, published in April, the CMA provisionally cleared Amazon’s investment on the…
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25 June
Diageo launches $100m recovery fund to help pubs and bars
Diageo has today announced a new global programme to support pubs and bars to welcome customers back and recover following the Covid-19 pandemic. ‘Raising the Bar’ will be a two-year programme available from July 2020. Diageo will provide $100m (£80.4m) to support the recovery of major hospitality centres, including: New…
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25 June
SIBA warns further support for small brewers still needed
The Society of Independent Brewers (SIBA) has warned that pubs reopening is just the first step on the road to recovery for the beer industry, with further support for small brewers still needed to “keep beer flowing”. Earlier this week, the PM said the existing guidance on two metres’ social…
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25 June
Young’s raises £88m from investors
Young’s has tapped more than £88m from its investors through a share placing ahead of pubs reopening from next week. The pub operator said it had placed a total of 4,263,453 placing shares at 1,160p per share, and 4.9m non-voting shares at 735p per share to raise £85.5m. In addition,…
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