30th October 2020Life after Furlough: what we want to see from Government

As the Furlough period comes to an end, businesses in the hospitality sector will be taking a long hard look at their future.

Despite a tough outlook, it has been positive to see the strength and determination across the industry. This week alone, we have seen businesses across the hospitality industry rally together in support of the Marcus Rashford campaign and backing free school meals for those who need it most.

Our clients and friends in the industry have also had to push the boundaries of creativity, finding new ways to drive trade and give consumers a level of confidence to continue dining out as much as they can. There is no doubt that the winter months will be difficult, but the ability to pivot and continue to adapt has never been more important. To all hospitality businesses – keep sharing innovative ideas, thinking outside the box, and keep going!  At HW Fisher, we are behind you and will help support in whatever way we can.

In the meantime, our immediate focus is to call on the Government to implement a support package for the next six months as follows:

  1. Assist the Landlords to prevent them from taking over the restaurants. We would propose that the tenant pays 1/3, the Government pays 1/3 and the landlord pays  1/3.
  2. Extend the Furlough scheme introduced in August to run for a further six months from the end of October.
  3. Insolvency protection should be extended to 30th April 2021. If this is not extended further, many retail and restaurants will be placed into administration.

We will continue to speak up on behalf of the industry – many businesses have taken out Bounce Back and CBILS loans so we believe it is in the Government’s interest to protect this important sector.

If you are worried about your continued business operations, please don’t hesitate to contact our hospitality team for a discussion on preparing your business or working through a plan for the next few months.

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Russell Nathan
Senior Partner

020 7380 4971
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