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Tag: Caffe

Covid: Caffè Nero seeks help after pandemic ‘decimates’ trading

Covid: Caffè Nero seeks help after pandemic ‘decimates’ trading

Business
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Caffe Nero weighs restructuring amid high street pain

Caffe Nero weighs restructuring amid high street pain

Business
Caffe Nero is considering an insolvency mechanism to restructure its financial liabilities as the coronavirus crisis continues to inflict pain on high Street hospitality businesses.Sky News has learnt that the chain, which is one of Britain's biggest coffee shop operators, is examining a company voluntary arrangement (CVA) as an option to reduce its rent bill and exit loss-making outlets. The privately owned group has yet to make a final decision about a CVA, although sources say one is expected in the coming weeks. Further details about the consequences of a CVA, including numbers of job losses or shop closures, were unclear on Friday.Like rivals such as Pret a Manger, Caffè Nero has been heavily impacted by the reduced footfall in city centres as millions of Britons continue to work ...