Business
Update following Covid-19 restrictions
Update following Covid-19 restrictions.
About this update from Coppa Collective Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3686E\n Various Eateries PLC\n 05 November 2020\n \n \n \n \n VARIOUS EATERIES PLC\n \n \n (\"Various Eateries\" or \"the Company\"\n \n \n and with its subsidiaries \"the Group\")\n \n \n \n \n \n Update following Covid-19 restrictions\n \n \n The Company confirms that, following confirmation from the Government yesterday of a nationally enforced lockdown beginning today, its restaurants and hotels have been closed and will remain so for the period required. The Company intends to resume its takeaway service at certain sites from today, which was well-utilised during the previous lockdown, and may also offer further products or services as allowed within the new regulations.\n \n \n \n \n \n All appropriate measures will be taken to minimise costs during this period and the Company will utilise Government support schemes where available. In addition, following the recent industry High Court decision in its favour, the Board is optimistic that a portion of any losses resulting from lockdown will be covered by its Business Interruption Insurance (although the quantum at this stage cannot be accurately estimated). \n \n \n The opening of the new Coppa Club in Cobham will be delayed until there is certainty around the date of the end of lockdown restrictions. At this stage the Government has said that national lockdown restrictions will apply until Wednesday 2 December 2020 before returning to a regional approach. \n \n \n While the Directors strongly disagree with the necessity or efficacy of a further lockdown and deeply regret the profound impact that it will have on the hospitality industry, on its employees and on its customers, the medium and long-term strategy of Various Eateries will not be affected. \n \n \n Further updates will be provided in due course.\n \n \n \n \n \n \n Commenting, Andy Bassadone, Executive Chairman said\n \n : \n \n \n \n \n \n \n \"We know today's announcement will have knock-on effects for many in our industry and our Group and can only thank our teams for their strength of spirit under these rapidly changing circumstances. In particular, I sympathise with all the new employees who were about to join us for our exciting new opening of Coppa Club in Cobham; we will get this opening back on track as soon as we have clarity from Government\n \n \n...