Sector welcomes new policies outlined in King’s Speech: The sector has welcomes several new policies outlined in the King’s Speech today (Wednesday, 17 July). Among the policies announced by the Labour government are Bills addressing apprenticeship levy reform and improvement of the planning system. Kate Nicholls, chief executive of UKHospitality, said: “The next session of parliament will be essential in kickstarting the growth needed to achieve the government’s objectives. It’s positive to see significant measures announced today that can help hospitality achieve its growth potential of 6% a year. With no mention of business rates in today’s King’s Speech, the autumn fiscal statement is now all the more important to drive the government’s plan for national renewal and to show clear progress on delivering its manifesto commitment to fix the broken business rates system. Particularly as businesses are facing an end to 75% rate relief next April if action isn’t taken.” Labour's pledge to reform the apprenticeships levy by creating a flexible growth and skills levy was seen as a positive step. Nicholls said: “Flexibility on how to spend funds through a new growth and skills levy will greatly enhance training opportunities, as well as free up funding to support rollout of our successful skills pilot to help those unemployed into roles in hospitality.” Nicholls also applauded plans to speed up the planning process through the Planning and Infrastructure Bill. She said: “Planning approvals have been in freefall since 2013 and has been one of the major barriers to business growth. I’m pleased to see the inclusion of this Bill to reform the system, putting growth at its heart. A new system that delivers faster decisions can drive business expansion, create more homes and develop local infrastructure – all critical elements to regenerating of our towns and cities. Nicholls sounded a note of caution over the Employment Rights Bill that includes a potential ban on “exploitative” zero-hour contracts, immediate rights for workers upon starting a job, and a crackdown on fire and rehire practices. Nicholls said: “As a sector that provides jobs and opportunities for everyone across the country, hospitality businesses are passionate about how to make those jobs work for everyone. Working mums, carers or students who are juggling jobs and busy lives every week want and need flexibility, and we want hospitality to remain the job of choice for them. We’ve been pleased to work with Labour on its proposals and look forward to continuing that productive dialogue during the passage of this Bill.” A key highlight, said the Night Time Industries Association (NTIA), is the introduction of a specific crime for spiking, which it has championed over the past few years. “This legislative change, one of the key asks from the previous government by the NTIA, will significantly enhance the role of the police,” said chief executive Michael Kill. “By providing a robust data source to address this issue and focusing on direct intelligence to capture perpetrators, we can better protect our patrons and ensure safer environments in our venues. The NTIA and UKHospitality also said the implementation of Martyn’s Law represents “a major leap forward in public safety”. Named in honour of Martyn Hett, this legislation mandates that venues and event organisers create and execute terrorism preparation plans to prevent similar incidents. The British Beer & Pub Association (BBPA) also welcomed announcements made in the King’s Speech, including prioritising a renewed commitment towards economic growth for businesses and workers. The trade body said it will work closely with the government as it makes clear its plans to strengthen careers in hospitality through planned reforms to the apprenticeship levy and the introduction of the Skills England Bill. It also said the Planning and Infrastructure Bill will create new communities and it wants to work with policymakers on how pubs and brewers can be put at the centre of this conversation. The BBPA said the sector will look closely at how the creation of Great British Energy will help secure domestic energy supply and generate confidence across the sector, and with a crackdown on anti-social behaviour also proposed, it will continue working with partners like Pubwatch and policymakers in Whitehall to ensure the best possible policies are implemented. “Britain’s beer and pub sector will welcome the government’s renewed focus on achieving greater and sustained economic growth as outlined in today’s King’s Speech,” said chief executive Emma McClarkin. “The BBPA will work closely with ministers as they set out plans to reduce energy costs, along with plans to reform workers’ rights and the apprentice levy, and establish the best practices for venues like pubs to be safe from external threats like terrorism, without the burden of disproportionate cost and bureaucracy. We will also look closely at how planning reforms in the Planning and Infrastructure Bill will help unlock investment that has previously been hindered by planning restrictions, as well as the emphasising the essential place of pubs in the heart of communities as the government looks set to unveil its ambitious new housing targets.” 

Nightcap shareholders back plans to go private: Shareholders of Nightcap – owner of the Cocktail Club, the Adventure Bar Group, Dirty Martini and the Barrio Familia group of 46 bars – have backed the move for the business to go private. A total of 99.3% of shareholders voted in favour of the resolution at a general meeting today (Wednesday, 17 July). Nightcap stated: “Accordingly, cancellation of admission of the company's ordinary shares to trading on AIM will become effective at 7am on 29 July 2024. The company will re-register as a private limited company with the name Nightcap Limited and adopt the new articles, which is currently expected to take place on or around 15 August 2024.” Last month, Nightcap set out plans to go private after deciding its current public market valuation does not reflect the “underlying potential of our business or our achievements to date and that this is unlikely to change in the short-to-medium term”. It came as the business warned that its adjusted Ebitda for the year to 30 June 2024 is expected to be below current market expectations. Nightcap was admitted to AIM in January 2021 when it acquired The Cocktail Club. Nightcap then bought Adventure Bar Group in May 2021, followed by Barrio Familia Group in November 2021 and the Dirty Martini chain of cocktail bars in June 2023. In February this year, Nightcap acquired The Piano Works. At the time of announcing the plans to go private, Nightcap stated: “The integration of Dirty Martini has completed, however the ongoing integration of The Piano Works transaction has been more costly than initially anticipated. In relation to the 52-week period ending 30 June 2024 (FY2024), the board currently expects to report revenues that are in line with current market expectations, with adjusted Ebitda expected to be below current market expectations, primarily driven by the headwind factors stated above, alongside the additional costs of The Piano Works integration, abortive deal costs and costs associated with the voluntary cancellation of admission of the ordinary shares to trading on AIM.” Last month, Revolution Bars Group rejected an acquisition proposal from Nightcap after concluding it was “incapable of being delivered”. That was disputed by Nightcap, which said it would not make an offer for Revolution Bars Group. Nightcap features in the Propel Turnover & Profits Blue Book, which is available exclusively to Premium Club members. Nightcap’s turnover of £135,943,000 for the year ending 3 July 2022 is the 79th highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.