'Closed due to Covid-19 restrictions' sign

Action group argues for insurance payouts on Covid-19 disruptions

‘It’s not too late’ says action group fighting for business interruption claims Hospitality Insurance Action Group (HIAG), which has taken part in the legal action against the eight major business insurers, has said that a significant number of claims which were previously denied may still be claimable. HIAG was one of only two policyholder groups allowed to take part in the FCA Insurance test case, which examined the business interruption policies of eight insurers including QBE and Aviva, to determine whether or not the policies should trigger business interruption claims…

Read More
Eataly restaurant setting

75% of UK hospitality businesses could be insolvent within a year

More than three-quarters of hospitality businesses at risk of insolvency as sector left in ‘truly desperate position’ More than three-quarters of hospitality businesses in the UK are at risk of insolvency within the next year, according to UKHospitality. One in five businesses consider themselves to be “at significant risk” or are anticipating insolvency within the next 12 months, while more than half believe it is a “slight risk”, a survey by the trade body and CGA has found. Fewer than a quarter of hospitality businesses felt they were at no…

Read More
Brickens, Claemorris, Ireland. Photo by Patrick Browne on Unsplash

Warning that half Ireland’s restaurants must close without £1.8bn funding

Half of all restaurants in Ireland will close unless the government intervenes with an emergency grant aid package worth £1.8b, the Restaurants Association of Ireland has warned. The announcement follows the release of a report investigating the impact of not supporting the restaurant sector. The report, prepared by Jim Power Economics, found that the accommodation and foodservices sector has been seriously damaged by the pandemic. It sets out an eight-point recovery plan that includes turnover-based rent, extending the 85% wage support beyond August and eliminating VAT for the restaurant sector.…

Read More