Coronavirus: Pubs and restaurants go different ways on new regional tiers announcement

Shares in pubs groups fell and restaurants rose as the UK government has announced the list of the regional tier arrangements to be implemented in England when lockdown ends on December 2.

London and Liverpool were deemed ‘high risk’ and fell in the tier 2 category, while Manchester will remain in the highest level of restrictions, level 3, as it was before the current lockdown was put in place, to be joined by Birmingham and Newcastle.

Only three areas will enjoy the lightest restrictions of tier 1: Isle of Wight, Cornwall and the Isles of Scilly, meaning 98.7% of the population is in the other two tiers.

In all tiers, essential and non-essential retail, gyms, swimming pools, hairdressers and barbers, beauty salons, tattoo and massage parlours and places of worship will be allowed to open.

Hospitality settings such as bars, pubs, cafes and restaurants will be allowed to serve food and drinks in their premises only in tier 1 and 2, so in tier 3 they will only be able to trade via takeaways or deliveries.

Earlier, 50 of Britain’s major pub owners wrote to the government warning them that the industry will see widespread closures and huge job losses due to the restrictions.

In tier 1 and 2 hospitality venues, casinos, cinemas, theatres and museums will have to close at 11pm.

In tier 2, households are not allowed to mix indoors but can meet outside for a maximum of six people, bringing back the ‘rule of six’ enforced in the summer.

The situation will be regularly monitored, with the first review scheduled for December 16.

Really important now that we focus on support to get through these 3-4 months to underpin businesses and secure the recovery https://t.co/O1Rv4zWDdl

— Kate Nicholls (@UKHospKate) November 26, 2020

The news sent publicans lower, with Marston’s (LON:MARS) and Fuller, Smith & Turner (LON:FSTA), which were down 4% and 2% respectively, JD Wetherspoon (LON:JDW) fell 1% and Young’s (LON:YNGA) flat.

Food venues had a better reaction, with Restaurant Group (LON:RTN) up 5% and Fulham Shore (LON:FUL) up 1%, though Loungers (LON:LGRS) was also flat.

Published at Thu, 26 Nov 2020 13:19:00 +0000-Coronavirus: Pubs and restaurants go different ways on new regional tiers announcement

0 0 vote

Article Rating