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28 November 2021

Opinion from Adrian Leopard & Co

News impacting business from Adrian Leopard & Company - Insolvency Practioners & Mediators

Leopard News

Christmas and New Year are over. Now into the bleak mid-winter?

Christmas and New Year are over. Now into the bleak mid-winter?

2021 is going to be a very hard year for the hospitality industry; there is just no indication of when things could start to improve

As we all know, December is generally one of the best months of the year for trade in the hospitality industry. People all have their office Christmas parties and over Christmas families go out drinking and eating and at new year, yes getting well oiled is definitely the order of the day.
As we see light at the end of the tunnel, society will start to re-evaluate itself.

As we see light at the end of the tunnel, society will start to re-evaluate itself.

When we go outside and the real light dawns when the pandemic is over, we are in for a big shock.

Since the beginning of the restrictions and the first lockdown, huge amounts of things have changed in the economic field. Many businesses have suffered terribly by being closed, most especially the hospitality industry and of course some businesses have done very well and others have even prospered beyond belief because of Covid-19.
Anger increasing; differences widening. How do we come to a consensus?

Anger increasing; differences widening. How do we come to a consensus?

As the country closes down bit by bit, arguments rage on. How are they going to be resolved?

Ever heard of the expression “ever decreasing circles”? Well if there were ever a time when that applied it is now. As if we did not have enough trouble fighting a hidden virus which is over-taking our society, people are now getting more and more angry and starting to argue. And what is it about? Not the virus really but money.
Possession proceedings for commercial premises – there are two sides to every story – and there could be quite a few sides

Possession proceedings for commercial premises – there are two sides to every story – and there could be quite a few sides

Perhaps landlords and tenants should think about mediation before embarking on the litigation route to resolve their differences

As the pandemic rolls on, the cries are getting louder for the government to extend the moratorium in respect of possession proceedings for commercial premises where rents are in arrears due to coronavirus. One hospitality business association is now saying that if the moratorium is not extended the government will face a “bloodbath” of business failures.
Crystal balls sadly in short supply so is it time for serious scientific attempts to try and foresee the future?

Crystal balls sadly in short supply so is it time for serious scientific attempts to try and foresee the future?

We can only plan for the future if we can make some pretty good guesses about how it could look. What will “new norm” be?

Who could have foreseen it all? Did anyone think that in 2020 the world would be brought to its knees by a pandemic? If anyone had suggested it, there would have been comments like “what do you know that we don’t?”.
Financial pressures are going to start to build up, notably in hospitality

Financial pressures are going to start to build up, notably in hospitality

The shock of battening down the hatches has not yet dawned

The hospitality industry is likely to be facing increased financial pressure over the forthcoming weeks. The industry has found itself in a unique position having been more or less closed down in March. We are now beginning to see the premises which have not re-opened since the lockdown was relaxed and which are beginning to announce that they will not re-open, at least under the same ownership.
To discount or not to discount – that is the question

To discount or not to discount – that is the question

Eating out always has been a caveat emptor issue but more so than ever at the moment!

The chancellor’s eat out to help out scheme is now closed. Considering the novelty of the idea when it was announced, it does appear to have been an incredible success with some restaurants saying they have never had a busier August than this one. The scheme has cost a great deal of money with well over 64 million meals being sold.

Turnover based rents – could this be the way forward for the future in hospitality? Could it herald the difference between survival or insolvency?

Turnover based rents – could this be the way forward for the future in hospitality? Could it herald the difference between survival or insolvency?

Whatever else Covid-19 has done, it has taught us significant lessons in relation to business matters. We need to be ready in case it happens again in the future

As things stand, a lease is not an asset – it is a liability other than in very limited circumstances. This fact has never been better known than it has during the pandemic lockdown. Businesses have had to close by government order but their rents continue to accrue and become due.
Unprecedented move - £10 a head towards your dinner Monday through Wednesday in August from generous chancellor

Unprecedented move - £10 a head towards your dinner Monday through Wednesday in August from generous chancellor

The hospitality industry needs a shot in the arm and without doubt it has got it

Today’s announcement from the Chancellor of the Exchequer has been eagerly awaited; many different organisations have made representations as to the sort of help they would like to see to get the economy back up and running again and now they have the result.

Will your local pub re-open as a going concern? What if it doesn’t?

Will your local pub re-open as a going concern? What if it doesn’t?

Opening up again after the relaxation of the lockdown is very much a two sided exercise

Crunch time looks like being upon us in the next fortnight. Pub landlords will be now be assessing what they can and cannot achieve. Probably the public will think mainly in terms of what matters to them, things like will there be adequate space for social-distancing
Zoos and safaris – just social distancing collateral damage while radical protestors get away with it?

Zoos and safaris – just social distancing collateral damage while radical protestors get away with it?

There seems to be a lack of rational thinking in the way social distancing is imposed.

In a world where we have become more aware of the need to protect endangered species, our zoos have become really important centres which can do so much to assist in this endeavour. It is always encouraging to hear of the births of rare creatures in zoos and to know that animals that are endangered in the wild still have cousins in captivity – and captivity also means safety and protection.
Specialist Leisure Group goes into administration including some well-known names.

Specialist Leisure Group goes into administration including some well-known names.

Names like Shearings, National Holidays, Bay Holidays and many others included.

On 22nd May the Specialist Leisure Group entered into administration. It was reported on television but certainly the impact of this collapse was not evident. One of its subsidiaries is Shearings the coach company and that broadly is all that was reported.
I have paid a deposit for my daughter’s wedding reception. It’s safe – right?

I have paid a deposit for my daughter’s wedding reception. It’s safe – right?

No obligation to hold deposits in ring-fenced accounts.

One of the worries which is emerging as a result of the lockdown is a complex area of business which many people find catches them out. That is the payment of advance deposits to make bookings and this is not just for wedding receptions but throughout modern life, and most notably with your deposits for package holidays and airline tickets.
We have a mortgage moratorium; what about business rents?

We have a mortgage moratorium; what about business rents?

The big question is where will the buck stop?

Managing the cash crisis during the lockdown is certainly no easy task. Government funding to pay people’s wages and salaries, rates holidays, a moratorium to block commercial evictions and so forth are all welcome shots in the arm. However, what has not yet become protected is what will happen to businesses which cannot pay their rents.
Coronavirus crisis hots up

Coronavirus crisis hots up

Financial benefits available but proving hard to come by; is there light at the end of the tunnel for the self employed?

The Covid-19 crisis has definitely stepped up a few rungs now. A week or so ago the Chancellor of the Exchequer announced a range of financial benefits to get the country through. I must admit I was quite astounded by the apparent generosity of the benefits, in particular offering businesses 80% of the salary bill to keep their staff on.
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Adrian Leopard & Company is the trading name of Alderney Offshore Ltd, a company registered in Alderney, Channel Islands number 1220.

Address P O Box 1027, Alderney GY9 3AS

Registered Office Seldomin, Longis Road, Alderney GY9 3YB.

Adrian Leopard & Co is represented in the UK by 3CL (UK) Ltd trading as Adrian Leopard Associates.

Telephone enquiries may be made on 08449-4-08449 or 01684-230360.

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