It was all going so well before lockdown is the top line from Mitchells & Butlers half-year results, published today. The company reported a pre-tax loss of £121m for the 28 weeks to 11th April, 2020.
The company says that when Covid struck, it took “rapid and effective action” to protect guests and team members, and to reduce costs.
The company has businesses in Germany, and experience there will guide it as it prepares to re-open premises in the UK.
On the finance front, M&B has had unsecured committed finance facilities extended by £100m to a total of £250m to 31st December, 2021.
Chief executive, Phil Urban, said: “The business was performing very well before the enforced closure in response to Covid-19, building on the strengths of our estate of mainly freehold properties, our diversified and well-loved brands, and our team’s industry-leading operational skills.
“These assets, coupled with our early experience of re-opening in Germany, give us a clear plan for re-opening and ensure that we are well placed to continue to bring people and communities together, and to keep Mitchells & Butlers at the forefront of the eating and drinking-out market.”
