Trade body condemns mockery of pubs in Christmas plan: The British Beer & Pub Association, the trade association representing brewers and pubs, has condemned government’s proposed plans to reduce restrictions over the Christmas period, labelling them a “mockery” of pubs. Up to three households will be allowed to meet up during a five-day Christmas period between 23 December and 27 December but they cannot meet in hospitality settings or other entertainment venues. The agreement has been made by leaders of the four UK nations, who added 2020 “cannot be a normal Christmas” but family and friends will be able to see each other in a “limited and cautious” way. People can mix indoors in homes, places of worship and in outdoor spaces but existing rules on hospitality and venues will remain and the bubbles people form must be “exclusive”. This means people cannot get together with those from more than two other households and, once a bubble is formed, it must not be changed or be extended further. Travel restrictions will also be lifted between England, Scotland, Wales and Northern Ireland to allow people to visit families in other parts of the UK. Emma McClarkin, chief executive of the British Beer & Pub Association, said: “These plans for Christmas make a mockery of the extra restrictions being placed on pubs and the economic devastation they are facing this Christmas. How can it be that pubs cannot properly open while households can mix in private settings? The government data has consistently shown that house-to-house transmission is one of the highest, whereas hospitality has accounted for as little as 2% of covid incidences when open. Pubs are a controlled, safe and regulated environment to socialise in – following all government guidelines and working with NHS track and trace. They are part of the solution for a safe and enjoyable Christmas, not the problem. It seems the government has chosen to inflict unnecessary pain and irreversible damage on our sector without publishing evidence alongside these decisions. If the government is really going to stop pubs from opening this Christmas then they must be fully compensated. Christmas is the most important time of the year for trade in our sector. This year more than ever. Without it, thousands will not survive the winter unless the government does the right thing and steps in with financial support to help them. That means grants that fully cover their fixed costs, like during the first lockdown. We all need some festive cheer after this tough year – and want we everyone to be able to enjoy a beer in their local pub with family and friends this Christmas, safely. After all, Christmas just won’t be the same if we can’t go to the local.” 

Franco Manca operator – more properties coming to market at lower rent: Franco Manca operator Fulham Shore has reported more properties are coming to market at a lower rent. In an annual general meeting statement it, added: “In the first eight months of the current financial year between April and November 2020, weekly group revenues have increased and fallen, mirroring the trading restrictions on restaurants that have been set out by the UK government. Whilst comparisons with the previous year may be of interest, they are not particularly relevant given the unprecedented trading conditions caused by the onset of covid-19. Sales in August 2020 were ahead of last year, driven primarily by the government’s Eat Out To Help Out scheme, but during the months when full lockdown or other restrictions on dine-in hospitality have been in place, sales have been behind the comparable period last year. The group incurred a loss for the first quarter of the current financial year to March 2021, when our restaurants were almost entirely closed, but during the second quarter, as the company was allowed to reopen its restaurants to dine-in customers, we expect to generate Headline Ebitda to cover much of the lost contribution from the first quarter. It is not possible to predict the outlook for the rest of the year given the ongoing uncertainty over the nature and length of further restrictions that the government may impose. Currently one Franco Manca is open in Edinburgh but trading with restricted hours, 60 restaurants are open for delivery and take away only and nine restaurants are temporarily closed, awaiting the easing of government restrictions which will enable them to reopen. We will continue to respond and adapt to changes to the restrictions as they are implemented by the government. We opened one new Franco Manca restaurant in September 2020 at The Cut, Waterloo. Despite lower than usual footfall in London, the new restaurant traded well until the latest lockdown. We are building another pizzeria, our 53rd Franco Manca, in Borough Market near Southwark Cathedral. We are also constructing our 19th The Real Greek in Bracknell. Both of these sites will open when government restrictions are eased. These openings will take Fulham Shore’s restaurant portfolio to 72 restaurants in the UK, as well as our summer Franco Manca franchise in Italy. We see more properties coming to the market at ever lower rents as a result of the current conditions in the property, retail and dining out sectors. We expect this trend to continue, and will continue to take advantage of this as and when appropriate.”

Deliveroo lines up Arney for chair role: Deliveroo has lined up one of Britain’s most prominent business women as its chairman, as it applies the finishing touches to a London flotation. Sky News reports that Claudia Arney will join the board of Deliveroo in the run-up to what is likely to be among the City’s most prominent initial public offerings of 2021. Arney currently holds directorships at the Premier League, Ocado, Kingfisher and Derwent London, the property developer. Her executive career included stints at the Treasury and the media groups Emap and Pearson. Will Shu, the company’s founder and chief executive, is said to be keen to ensure that the food delivery service has a robust corporate governance framework in place before it goes public. Earlier this month, it was revealed that Rick Medlock, a former finance chief of the payments group Worldpay, was joining Deliveroo as a non-executive director and chair of its audit committee. In recent weeks, Deliveroo has been appointing bankers to help steer it through the biggest financial milestone since it was launched in 2013. Goldman Sachs and JP Morgan are working with the company, with other investment banks expected to be added ahead of an IPO. The valuation that Deliveroo is expected to seek if it floats next year has yet to be determined but it will, analysts say, be “several billion pounds”. Deliveroo now has nearly 45,000 restaurants on its platform in the UK.