Restaurants

Various Eateries receives £2.5m business interruption payout

The firm is holding off on its expansion plans just until the government ‘fires the starting gun’ for recovery

Various Eateries, a restaurant owner, developer, and operator, has received £2.5m through its business interruption policy.

The funds, which reportedly fall short of compensating the group’s losses during the pandemic, have supported Various Eateries’ overall liquidity. 

While establishments have remained closed across the UK due to ongoing Covid-19 restrictions, the group said it is looking to continue its expansion strategy by capitalising on investment opportunities provided by the pandemic.

Yishay Malkov, CEO at Various Eateries, said: “The management team and I have run restaurants through numerous crises and challenging external events and we have always come back stronger. 

“While Covid-19 is the biggest challenge our industry has seen, we have the team, the sites and the resources to get back on the expansion trail, just as soon as the Government fires the starting gun.”

The company remains on stand-by as it continues to explore possible sites for expansion without signing any new leases until restrictions are eased.

Malkov added that with the UK’s four most vulnerable groups set to be vaccinated by 15 February, it’s time to get the “amazing industry, employing more than three million mainly young people, back on its feet”.

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