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Government will have to take heed if Covid calls time on more UK pubs | Hospitality industry


Pub closures are nothing new, of course. Even before Covid-19 arrived, the number of licensed premises was on a steady downward trend as a quick stroll around just about every town or city in Britain would testify.
But the pandemic has made matters a lot worse. Early estimates from the British Beer and Pub Association is that 2,500 pubs closed their doors for the last time in 2020. Running a pub is hard work and by no means a licence to print money. For many publicans, lockdown has been the final straw.
That’s not to say the public has struggled to get a drink because some pubs have been open for off-sales, while wine merchants and breweries have been selling direct to their customers online. Like many other parts of the economy, the drinks industry has found a way of adapting its business model to the new reality. Companies – including those in the hospitality sector – have learned how to live with Covid, and that partly explains why the economy shrank by more than ....

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Harvester owner to raise £350m from 'Sandy Lane set'


Last modified on Tue 16 Feb 2021 00.10 EST
The owner of Harvester restaurants and Nicholson’s pubs plans to raise £350m from a group of tycoons known as the “Sandy Lane set” after it came close to breaching the terms on its debts.
Mitchells & Butlers said it had agreed the equity raise with three investment holding companies as part of a £500m rescue package that also included a £150m three-year loan facility.
The rescue investors include the currency trader Joe Lewis, the Irish billionaires and horse racing tycoons John Magnier and JP McManus, and Derrick Smith, another businessman with horse racing interests. They are known collectively as the “Sandy Lane set”, after the glamorous Barbados hotel where they liked to gather. ....

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UK ministers gain power to allow lower-standard food imports


Last modified on Wed 20 Jan 2021 07.21 EST
Ministers will be able to approve the import of animal and agricultural products of a lower standard than currently permitted in the UK, after attempts to amend the trade bill failed.
The government has repeatedly vowed not to allow the import of chlorinated chicken and hormone-treated beef, but has refused to sign those pledges into law.
The House of Lords put forward amendments to the trade bill that would have required future trade agreements to be scrutinised by parliament, with a view to ensuring standards are retained, but the key amendment fell on Tuesday night by 353 votes to 277. ....

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